The Advent of Virtual Reality May Change The World of Business

How Consumer Demand of Virtual Reality Could Change Business

The growth and proliferation of new technology is forcing businesses to re-think what they’re manufacturing and selling in order to flow with the rapidly — exponentially — changing times.

And virtual reality (VR) is no exception.

In a recently published article entitled, “From E-Business to V-Business,” authors Josh Waddell, Pascal Lessard, Lori Mitchell-Keller, and Fawn Fitter write:

“For all the justifiable hype about the exploding consumer market for VR and, to a lesser extent, AR, there’s surprisingly little discussion of their latent business value—and that’s a blind spot that companies and CIOs can’t afford to have. It hasn’t been that long since consumer demand for the iPhone and iPad forced companies, grumbling all the way, into finding business cases for them.”

If digitally enhanced reality generates even half as much consumer enthusiasm as smartphones and tablets, you can expect to see a new wave of consumerization of IT as employees who have embraced VR and AR at home insist on bringing it to the workplace.

“Rather than risk being blindsided for a second time, organizations would be well advised to take a proactive approach and be ready with potential business uses for VR and AR technologies by the time they invade the enterprise,” the authors write, adding, “The argument in favor of VR and AR for business is so powerful that once vendors solve the obvious hardware problems, experts predict that existing enterprise mobile apps will quickly start to include VR or AR components, while new apps will emerge to satisfy as yet unmet needs.”

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