Augmented And Virtual Reality In An Enterprise 4.0 Context

By Feroz Khan, Associate Director - Head Digital Technology Excellence, The Boston Consulting Group

Feroz Khan, Associate Director - Head Digital Technology Excellence, The Boston Consulting GroupAugmented and virtual reality led technologies have ruled a lot of conversation in the past few years, along with the rise of Enterprise 4.0 which has brought multiple business process efficiency possibilities for different industry verticals like virtual agents having started serving the customers, analytics predicting the customer needs, augmented reality improving communication and robotics and artificial intelligence allowing new ways to increase efficiency by having automated the back office. Although AR and VR have been in fashion for the last couple of years and their acceptance from consumers has been amazing with new and upcoming technologies allowing completely different ways of delivering customer service, however for the enterprise looking to take the next step, there is a confusing wide view of vendors knocking the doors of organizations to push isolated use cases and solutions and thus enterprise should take a strategic view of selecting, sequencing and delivering use cases to ensure maximum impact coming out of augmented and virtual reality led technology solutions relevant to context and mapped across all product and service channels. Earlier, the technology of AR & VR was out of reach for many people who use a product or service, however, over the last few years it has been lower priced and easy to be used and understood for end users. Interestingly, most of the attention that AR & VR are getting is not due to their ease in how easy something is to be used and understood, but in what they are delivering. Given the younger generation people, the resulting stages of AR & VR have already delivered interesting content to have greater adoption. It seems like enterprises will define the AR & VR market, and the adoption of the technology will be less than five years before something new happens. AR plays a significant role in Enterprise 4.0 by getting us the information we need from manual to service alerts by connecting the workers remotely through effective with hands free communication channels, which allows experts and superiors to watch for changes and unusual things along with the work progress remotely without having to be present at the same location. The same technology can be extended to supply chain management functions which take up much of organizations useful and valuable resource collaboration having huge benefits when helped es. In order to improve business efficiency, AR led smart glasses can be used for guiding workers to take shorter and efficient solutioning routes, thus simpli­fying the complex tasks by overlaying instructions. In an enterprise 4.0 context, AR technology is already being leveraged for analyzing real-time data in the form of visualization which allows many people to coordinate and plan effectively. Different forms of data visualization are being projected along with AR technology to improve better understanding of busi­ness process along with learning and understanding the complex ideas more effectively. AR technology let the agents see what customers see and enabling them to instruct customers visually and the machine learning algorithm continuously improves how agents can support customers based on historic re­cordings.­

“AR and VR technologies are currently being used by the younger generations and it has become a good marketing and advertising platform for the organizations”

Unlike augmented reality, VR has also been use­ful in shaping enterprise 4.0 journeys, where most of the product companies have started using this tech­nology to promote their products. Customers can use this technology to view the designs of the prod­uct and suggest subsequent changes required in the product which saves valuable resources of the enter­prise and enriches the customer experience. These days VR technology is replacing the conventional videos which used to attract customers by not just visual experience, but also by providing audio experience along with a video which aids in educating the cus­tomer. Enterprise has started using VR to improve and enrich their customer experience by showcasing the product without having the need to be physically viewing the product. The aim of virtual reality is to replace and support human agents by leveraging cog­nitive intelligence. Virtual reality requires the head­set gear which has become much more affordable as compared to a few years back and with the increased usage in Enterprise 4.0 context, its content pricing has also dropped heavily in last few years and as a result, many organizations are finding opportunities to leverage these technologies. Enterprise is seeing the benefit in having a virtual reality app for their busi­ness as the new demand for more innovative ways has opened up a whole new industry of VR app de­velopment vendors.

AR and VR technologies are currently being used by the younger generations and it has become a good marketing and advertising platform for the organizations. It is designed to eliminate customer pain points and increase customer experience along with personalization journey. We are going to see the rise in adoption of these technologies and con­sidering the merits of using these technologies from a business perspective, enterprise 4.0 adoptions will be the future of different industry verticals.

Don't Miss ( 1-5 of 20 )