Across industries, we are being inundated with headlines about new (and existing) technologies and how they will change the way we live and work. Extended reality—including virtual and augmented reality—and artificial intelligence (AI) are often met with mixed reactions. One well-known example the strike by the American actors’ union SAG–AFTRA, in part over the lack of oversite when it comes to the utilization of AI. Virtual and augmented experiences have been a big cause for conversation as well, with Apple’s recent launch of the Reality Pro headset. And while there has been a lot of talk about metaverses and where they will land, one clear fact is that this technology and practical applications are just getting started.
It can seem confusing or overwhelming: what is hype and what should you really be paying attention to? For businesses, there’s a lot of value in what these technologies have to offer. Once you understand how and where to leverage something like extended reality experiences for your company, a new world of possibilities opens.
A less-complicated approach to extended reality in retail
More than three years after the pandemic hit and changed the way global consumers shopped, retailers continue to struggle to make their eCommerce channel profitable. There are many reasons why digital sales can be such a struggle, but technology will clearly play a critical role in driving change and lead to more profitable outcomes. In addition to this challenge, retail media networks have changed the way that brands and retailers understand their shoppers. There has been a surge in competition to create unique opportunities and to personalize shopping experiences in new ways.
The extraordinary pace in which technology—and the consumer and corporate adoption of new tools and best practices—is making both near and long-term strategic planning challenging for the average organization. As an industry, we need to develop new skills and learn new concepts. To add to the complexity, new technologies are evolving as we learn, sometimes in the matter of weeks or months. For many companies, understanding where to start is often the biggest hurdle in drafting out clear strategic priorities and the steps to execute a plan.
At InContext, we understand our clients’ need to better comprehend these tools and adopt current best practices. They need help developing strategies to assess and integrate AI, virtual and metaverse elements into their long-term planning. More importantly, there is a need to be able to evaluate and assess what tools and assets companies currently utilize, explore what additional tools might make sense to employ, and develop a transformational virtual roadmap to evolve operations and drive profitable growth in the future. The critical thing to understand about the future of the metaverse is that its building blocks are founded in current digital assets centered around the digital twin.
We have spent over a decade following these concepts, building tools and practical applications utilizing 3D digital assets, and helping our clients build strategies that allow them to integrate virtual solutions into both internal processes and consumer-facing experiences. If you have teams that want to learn the fundamentals of AI, virtual reality, or metaverse utilization, we can help you. Further along in your virtual roadmap transformation? Contact us to get consultative recommendations and guidance on strategy, technical requirements, and even training within your company.
