Saturday, July 15, 2017

How Using AR for Advertising Is Gaining Momentum

Follow the Money

While virtual reality software has been gaining momentum in the high end real estate business for the past year, there are other industries that are looking to implement the technology.  The high end real estate business was the first to embrace the technology.  Real estate agent's high net worth clients rarely had the time to physically visit the homes they purchase and they would historically rely on photos and videos in their purchasing decisions.  Now with the advent of virtual reality software, the agents can create detailed showings of properties that enable clients to "zoom in on selling-point details of surfaces and lighting" and "create an emotional connection" to the properties that before couldn't be conveyed with previous technologies.  This makes all the difference for customers with very specific needs and typically little time.  As more money is being invested in the companies that produce VR technology for the real estate market and the costs will continue to go down giving way for it to gain wider use with the real estate middle markets in the next few years.
 Looking to the future applications of VR and AR technology as it becomes more affordable, investors see the potential for the technologies being used to augment the routine training required of employees at large corporations.  Instead of paying for travel to attend training seminars and teachers to lead multiple sessions, employees could attend VR augmented training classes that would enhance the learning experience. Other applications include VR augmented learning for the classroom.  Washington Leadership Academy has plans to "build a scientifically accurate, virtual reality chemistry lab" for children that lack the resources at their public schools.  While this is a a public charter school in DC that is in a wealthy neighborhood, if the technology is successful with them, it could be made available to school children of all income levels with the inclusion of ads to fund the VR lessons.  One company that has already embraced the technology to produce online VR content is Discovery Channel for their wildly popular Shark Week.  With estimates for the AR and VR market to grow to the $200 billion range in the next few years, the possibilities seem endless for the ways to apply the technology.

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