Virtual reality and the changing landscape of modern business

Innovations in virtual reality is opening up new marketing dimensions for today’s businesses, says innovator and inventor Peter Zieve. The impact of virtual and augmented reality is so enormous that these technologies are expected to rise to a market value of over $160 billion by 2020 as they become the standard in many industries and enterprises, from gaming and personnel training to health care and real estate.

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Online shopping will be a key area for virtual reality to thrive in, effectively transforming how e-commerce is conducted. Seeing what you are buying before committing opens the so-called floodgates, especially for more complex services and products that can’t be completely appreciated solely via photos. For example, VR allows for furniture to be virtually placed in one’s living room to better see how they fit and match with other home décor.

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One industry that has seen immediate benefits from virtual reality is real estate. Buying a property is not something one can typically do just by looking at pictures and videos, and that sometimes physically visiting houses and estates is very difficult to fit into one’s schedule. VR allows buyers to tour properties in real-time, in the comforts of their homes, increasing turnover for agents in terms of lowering site visits. VR may, in fact, be the future of real estate investing.

It shouldn’t take long before virtual reality completely transforms how different industries operate, even as companies are incorporating VR systems into their day-to-day activities, adds Peter Zieve. From providing better personnel and customer interaction to allowing for reduced maintenance costs, virtual reality is leading businesses toward a brighter, easy-to-simulate (and anticipate) future.

Peter Zieve is an inventor and innovator with 50 patents. He is also the CEO of Electroimpact, Inc., a world leader in design and manufacturing of aerospace tooling and automation. For more reads on modern business trends, go to this blog.

How artificial intelligence is changing our lives

There’s no questioning how artificial intelligence is altering our lives, stemming from its dominance in various industries, from businesses and finance institutions to education systems and healthcare. Peter Zieve, a robotics and automation expert, breaks down how AI is spearheading these changes and, in effect, spelling our future.

Image source: ymedialabs.com

In the business setting, AI technology is leading to huge changes in the creation and processing of products, as well as in how they look for target or niche markets. Machine learning, for example, is lowering the risk of human error in the manufacturing industry. AI is now being used in drilling for oil, especially in accurately calculating drilling distance and depth. This is complemented by the rise of Big Data, allowing companies to go through huge amounts of data for pattern-finding and data interpretation.

In the healthcare industry, robots have been present for over a decade, used in highly sensitive and precision tasks like surgery. Nowadays, remote operations are made possible by AI, and chatbots are deployed for better patient engagement. Expect advanced diagnoses to be performed by automated devices in the near future, even as we are finding better ways to ensure online data privacy.

The same impact of artificial intelligence can be felt in education. It has led to modern rubrics like blended learning and online-based pedagogies. This is evident now in teaching students basic writing and math skills. But soon, higher and more personalized learning experiences will also be possible with AI’s aid, says Peter Zieve.

Inventor and innovator Peter Zieve is also the founder and CEO of aerospace automation company Electroimpact, Inc., which builds robotic tools for the aerospace industry. For more on the benefits of automation, visit this blog.