2020 saw a historic change in world events and the aftermaths of the COVID-19 pandemic leading to downward economic pressure. Due to the global lockdown, a “stay-home economy” sprung up, and paved the way for deep tech. innovations to create new opportunities for the AR/VR sector.
Deep tech. has transitioned from a “nice to have” to a “must-have”.
Work has shifted from in-person and in-office to virtual and remote. Despite a decline in the economy, there is a quantum leap in demand for digital tools to ensure business continuity. As a part of this digital transformation to drive productivity, businesses have shifted from merely selling a product to personalizing customer experiences in engaging digital formats. Close day-to-day operations and minimizing in-person interactions have become imperative now more than ever.
"The COVID-19 pandemic has created a shift in mindset. With so many employees working remotely, augmented and virtual reality are being considered as necessary tools to engage with consumers and drive business processes within and across organizations," said Stacey Soohoo, research manager, IDC Customer Insights & Analysis.
Source: IDC's Worldwide Semiannual Augmented and Virtual Reality Spending Guide 2020, June (V1, 2020)
The Gartner report shows how emerging technologies and trends are shaping the future of businesses.
Even as most industries suffer the rippling effects of the pandemic, the need for continuing business as usual has led to a huge demand for AR/VR, specifically in areas such as digital work instructions and digital twins.
- Digital work instructions represent traditional workflows in a unified digital format. It is a living knowledge repository for enterprises to maintain procedures in a visual, connected and dynamic way.
- A digital twin is a virtual counterpart of a physical asset, process, or system. Companies utilize digital twins to prevent issues before they occur, avoid downtime, and even simulate future circumstances and events.
The ghosts of COVID-19 continue to haunt all our work processes and business decisions. Hence, safeguarding human lives, especially for healthcare and frontline workers is the need of the hour. Deep tech. innovations have succeeded in leveraging this opportunity to reduce person-to-person contact, streamlining assembly line operations, strengthening process quality, and minimizing cost overruns.
Remote 3-D AR/VR solutions are excellent examples of a pandemic-friendly technology since they allow the worker to continue operations remotely and assist on-ground staff dynamically from afar without even stepping out of his/her house. If anything needs to be double-checked, Augmented Reality annotations can guide the field teams in the right direction. This extends well beyond industrial/engineering use-cases into the med-tech and healthcare space where the doctor’s expertise is available for patients at home.
Fabrik provides a reliable and scalable solution to address the above challenges by providing a comprehensive platform to learn, engage and monitor the operations without risking human life. Starting from healthcare use-cases like clinical management to industrial use-cases like critical asset monitoring, Fabrik provides a one-stop digital platform for accurate knowledge mapping with geographic information visualization, portraying a user's position on a map, boosting trainee experience, and other applications.
In conclusion, customers need to ensure end-to-end visibility of business operations while ensuring the safety of their workforce by developing smarter, and digitized solutions. This reinforces the faith in the brand’s performance assuring reliability and trustworthiness. Deep tech innovations have thus proven to be a boon in these trying times and offered a sigh of relief to continue business operations hassle-free.
Deep tech innovations have thus proven to be a boon in these trying times and offered a sigh of relief to continue business operations hassle-free.