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Table of Contents
Virtual Reality (VR) is an emerging technology and is disrupting various parts of how businesses are run. Combining virtual reality with AI (AI) creates a replacement dimension to the business and affects crucial decisions for the longer-term continuation of the business. AI’s role is more pronounced than the VR aspects as not all businesses need VR but they do need AI. Determining the areas where VR/AI can impact the company is one of the problems stakeholders are interested in. Because it is new, the mixing of VR and AI opens new possibilities and can provide a new range of experiences.
Virtual Reality’s evolution is helping to create systems capable of learning, adapting, and evolving autonomously and offering a new ‘reality with multiple applications, including business model reinvention, new customer and consumer experiences, ICT optimization, and malware detection.
The companies that are already incorporating them have a common denominator: they are ‘data-driven organizations, oriented towards data analytics to improve processes, and with a defined digital transformation strategy.
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Multiple sectors
These technologies can be applied to multiple industries, such as healthcare, retail, or manufacturing. They will also affect finance, distribution, leisure and entertainment, tourism, logistics, and energy.
In the case of Cisco, customers already use AI-based solutions in five fundamental areas: the network, the data center, collaboration, cybersecurity, and predictive services.
Cognitive collaboration is one of its latest applications. It is about making video conferencing meetings more efficient, productive, and intuitive by adding virtual assistants and contextual intelligence to the entire collaboration experience. AR / VR will also have a significant effect on video experiences.
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Emerging market
According to the World Economic Forum, 30% of organizations globally are piloting AI. And nearly half have already incorporated at least one AI capability into their business processes, up from 20% in 2017.
More and more companies are also betting on virtual/augmented Reality to improve the customer experience and interaction with consumers and citizens. IDC predicts that 50% of large European companies will have already included these innovations in their strategy by 2020.
What is Virtual Reality?
Virtual Reality refers to an environment where a physical reality can be created through technological devices, simulating the natural environment through a computer system. It is a virtual reality, created artificially, yet it is similar to the natural environment.
Thus, the user has a very realistic perception and can often include tactile sensations in the process. In recent years, this area has grown considerably, with the creation of special glasses and headsets, which allow a more precise immersion of the public, whether for leisure or business use.
How does Virtual Reality work?
Virtual Reality uses visual and sound effects, as well as gadgets that simulate, in a virtual way, a real environment. The user can interact with what he sees or not, according to the system settings.
Today’s top VR devices are Sony PlayStation VR, HTC Vive, Oculus Rift, Magic Leap One, Google Daydream View, and Samsung Gear VR.
What are the benefits of virtual reality?
Virtual Reality came to us mainly through the video game industry, bringing a new perception about leisure possibilities. However, it can be easily applied in other areas, with several benefits.
The versatility of virtual Reality is also one of its significant advantages. It can be used both for the leisure game industry and for other purposes. For example, this technology can be used for army training, usedd by psychologists in the treatment of phobias, and other activities in a simulated environment. Virtual Reality:
- Allows for a differentiated customer experience;
- Increases engagement with the product or service;
- It can be used to improve marketing strategies , which can act in an immersive and interactive way;
- It makes it possible to insert gamification in the internal environment of companies;
- Ensures the possibility of long-distance meetings with greater interactivity, making them more interesting for the participants.
Is augmented reality part of AI?
It is a fact that Augmented Reality is closely linked to Artificial Intelligence. This is due to one of the areas of specialization within Artificial Intelligence known as Deep Learning. Advances in this direction, using convolutional networks or memory networks, are crucial to recognizing objects in images and tracking them within two-dimensional or three-dimensional environments.
The techniques described above can also be used for hand and eye-tracking systems. All of this can be used to interact with this additional environment that enriches and enhances Reality. Furthermore, it should be added that Artificial Intelligence enhances the capabilities of Augmented Reality, learning from the performance in these environments, making them much more immersive and intuitive for end-users.
Another aspect where these technologies are related is that Artificial Intelligence works as an accelerator to create Augmented Reality content. Much of the data extracted from interactions with the environment can be used to make valuable estimates for the user, such as measuring distances between points, predicting plant failures, or managing tasks to be performed, all of which are used to improve the user experience. It also provides several valuable tools for developers to get feedback on users’ preferences for interactions with the Augmented Reality environment.
We are immersed in the Fourth Industrial Revolution (4IR), where robotization and massive automation of processes are phenomena that may concern a wide range of sectors of the population due to the possible elimination of jobs that could imply the use of such technologies. However, these methods are very useful to facilitate, enrich and improve the performance of employees, to be able to perform their tasks in a safer, more efficient, and controlled way, and thus dedicate their time and intellect to activities with greater added value.
Augmented Reality assistants are proving to have endless applications in industrial environments and different sectors like retail, education, leisure, culture, etc.
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Difference between Virtual Reality and Artificial Intelligence
AI and VR are similar technologies in that they alter the way we perceive our environment and how we interact with it. However, they differ in hardware requirements and the purpose for which they change a surface. As the name suggests, Augmented Reality extends the user’s existing space by superimposing a layer of virtual objects and sensory experiences over the real world. Artificial Intelligence is the simulation of human knowledge processes by machines and computer systems.
In practice, this means that VR can add items, characters, audio, or a user interface to the everyday environment. Through AI, for example, it is possible to visualize a dragon sitting on the couch or a shark emerging from a bush. The technology is also often incorporated into augmented reality filters for similar apps and tools. AI doesn’t require any specialized hardware other than a smartphone to run the app in most cases. More advanced uses of this science, however, require specific accessories.
Compared to VR, AI software is easier to develop because there is no need to create digital backgrounds – the users pace themselves in the background. On the other hand, Virtual Reality creates an almost entirely simulated digital environment. The goal is to immerse the person in a completely new universe.
The growing interest has also led the online gaming industry to focus on casinos with this technology. New VR establishments are expected to bring even more positive elements because they offer a real-world experience and replicate the gaming practice while being in a physical location. In addition, new technologies have arrived to ensure that the online casino experience is more pleasurable and convincing, whether playing roulette, blackjack, slot games, or any other modality.
VR gaming allows enthusiasts to step into a full 3D version of a casino. Everyone can move around in it, with a complete 360° view of the establishment. Within this environment, you can go from table to table, interact with dealers, have a drink, chat with other connected players, choose from a variety of available games and even light a virtual cigarette during breaks. Users have a complete experience; they are also transported to a faithful copy of famous real-life locations, further improving the overall experience.
What is the difference between artificial Reality and Virtual Reality?
Artificial Reality
When wondering about artificial Reality, many of us think in terms of ‘revolutionized technology’. However, this type of technology may be a computer-generated replica of a three-dimensional picture or environment.
These productions are often played out within seemingly real domains by an individual using specially designed equipment. Such equipment includes a helmet or glasses with a screen inside or gloves with sensors attached to them.
Artificial Reality is employed in games, surgeries, flight simulators, and meteorology. The advantages of this technology are artificial reality aids within the enhancement of drugs, entertainment, and more.
On the other hand, Virtual Reality may be a simulation, computer-generated, of an alternate world. The use of this technology is usually deployed in 3D films and video games.
The goal is to cause the viewer to be engaged and seemingly within the show or game they’re viewing.
Instead of merely watching the action on a screen, you’re virtually put into the 3D world. But, instead of viewing it, you are feeling a neighborhood of the scene ahead of you.
Computers are also used as other devices that cause you to use your senses, like gloves or a headset. The impression is that you simply are elsewhere. A number of the headset brands used with this artificial simulation are specially designed to cancel all surrounding sounds.
When using a computer game, the games or apps you’re using allow you to emerge during a completely technology-designed world, no matter your physical location. So, while you’re sitting in a chair staring straight ahead of you, your virtual headset could also be taking you through a maze, down a hill, and up a staircase without you physically leaving your chair.
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Virtual Artificial Intelligence
Virtual Intelligence is that term given to AI that exists within a virtual world. Many virtual worlds have options for avatars that provide information, training, roleplaying, and social interactions.
The immersion of virtual worlds provides a singular platform for VI beyond the normal paradigm of past user interfaces (UIs).
With today’s VI bots, Virtual Intelligence has evolved past the constraints of past testing into a replacement level of the machine’s ability to demonstrate Intelligence. Furthermore, the immersive features of those environments provide nonverbal elements that affect the realism provided by virtually intelligent agents. Virtual Intelligence is the intersection of these two technologies:
Virtual environments
- Immersive 3D spaces provide for collaboration, simulations, and roleplaying interactions for training. Many of those virtual environments are currently used for state and academic projects, including Second Life, VastPark, Olive, OpenSim, Outerra, Oracle’s Open Wonderland, Duke University’s Open Cobalt, and lots of others. Many commercial virtual worlds are also taking this technology into new directions, including the high-definition virtual world Blue Mars.
Artificial intelligence virtual environments provide non-verbal and visual cues, which affect the believability of the VI and its usefulness. Because – like many things in technology – it isn’t almost “whether or not it works” but also about “how we feel about it working.” Virtual Intelligence draws a replacement distinction on how this application of AI is different thanks to the environment in which it operates.
Virtual intelligence examples
Cutlass Bomb Disposal Robot:
Northrop Grumman developed a virtual training opportunity due to the prohibitive cost and dangers related to bomb disposal. By replicating a sophisticated system without finding advanced code, the virtual robot has no risk of injury, trainee safety hazards, or accessibility constraints.
MyCyber Twin:
NASA is among the businesses that have used the MyCyber Twin AI technologies. For example, they used it for the Phoenix rover within the virtual world Second Life. Their MyCyber Twin used a programmed profile to relay information about the Phoenix rover to inform people what it had been doing and its purpose.
Second China:
The University of Florida developed the “Second China” project as an immersive training experience to learn how to interact with culture and language in a foreign country. Students are immersed in an environment that gives roleplaying challenges, including language and cultural sensitivities magnified during country-level diplomatic missions or during times of potential conflict or regional destabilization.
The virtual training provides participants with opportunities to access information, participate in guided learning scenarios, communicate, collaborate, and roleplay. While China was the country for the prototype, this model is often modified to be used with any culture to understand social and cultural interactions better and see how people think and what their actions imply.
Duke School of Nursing Training Simulation:
Extreme Reality developed virtual training to check critical thinking with a nurse performing trained procedures to spot critical data to form decisions and perform the right steps for intervention. Bots are programmed to respond to the nurse’s actions because the patient with their condition improves if the nurse performs the right actions.
Virtual reality machine learning projects
AI Chabot’s: Let Your Bots ask the Users
The traditional way is when customers keep calling customer care to get answers to their problems. AI-based chatbots are the new virtual agents who handle the top number of queries in real-time and supply 24*7 support.
The chat bots act like citizenry, but they supply more specific responses and are fully automated with zero human intervention.
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Integration of AI & ML in Healthcare App
Have you ever thought about this indisputable fact – that robots will replace human doctors one day? Little question, AI is boldly paving its way within the healthcare industry’s corridors and giving us such healthcare apps as WebMD, SkinVision, Sense.IY, and more. Right from checking the symptoms to finding a trusted physician, it’ll assist you in managing everything.
Location Tracking App with AI and ML
Imagine how difficult it might be to seek out a location once you are traveling to unknown places. Instead of looking here and there or wasting time searching Google Maps, an AI & ML-based geo-tracking app can help users find the precise location and know the precise duration of travel.
AI and ML in Industrial Companies
Those days are gone when the laborers managed industries, and everything was manual. With emerging technologies like AI and ML, enterprises integrate robots into the workflow so as to run smoothly and flawlessly.
These industrial robots are designed to handle every significant task and automate it by merely optimizing the certain processes that humans previously managed.
Weather Forecast App with AI and ML
People traveling are constantly needing to know the exact weather or climate of various regions. But AI and ML-enabled weather forecasting apps will help you determine the accurate forecasting of climate in your preferred area.
Weather forecasting apps like Now Cast use machine learning to predict forecasts and offer high-end proficiency weather reports. With the help of AI, it gathers weather insights to expect any change in the weather condition.
Conclusion
The growth impact of using such technologies will be tremendous to industries in the coming years. But the drivers need to create and adapt to new technologies to reach saturation point. They need to revisit their existing products to revamp them using the latest technology. The overhead costs will price out small businesses, and those who are not ready will have to pay the price. More and more users are online shopping for their products, and the user information collected will be big data.
Future developments, including home appliances, will have these reality technologies in everyday activities, and businesses will monetize the mixed realities.
The convergence of these technologies will play a critical factor in determining the marketplace of such products. Recently, significant advancements have been made to enhance VR and AI and bring them together to create a single form of technology that offers seemingly endless possibilities. Joining together VR and AI can provide us with some pretty incredible opportunities.
The areas where the VR and AI combination might be included in business are found in their agility to perform multiple functions and skills to attach to varied departments. Devices have brought in complex coding and interconnectivity to various systems. VR and AI rely heavily on training data and high alphanumeric display resolution kits. VR kits (headsets, phones, game controllers, sensors, and other items) are expensive, and there are overhead costs involved for the top user. As external hardware is interconnected with the devices, there are challenges to beat. Specialists or knowledge of using VR and AI is required not just by the technical team that makes the applications. Still, the personnel in other areas need to remember how the merchandise works to assist them in understanding the features. Non-technical stakeholders need to be apprised of using such equipment. The overhead costs would be very high to put the setup in place.
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Luis Gillman
Hi, I Am Luis Gillman CA (SA), ACMA
I am a Chartered Accountant (SA) and CIMA (SA) and author of Due Diligence: A strategic and Financial Approach.
The book was published by Lexis Nexis on 2001. In 2010, I wrote the second edition. Much of this website is derived from these two books.
In addition I have published an article entitled the Link Between Due Diligence and Valautions.
Disclaimer: Whilst every effort has been made to ensure that the information published on this website is accurate, the author and owners of this website take no responsibility for any loss or damage suffered as a result of relience upon the information contained therein. Furthermore the bulk of the information is derived from information in 2018 and use therefore is at your on risk. In addition you should consult professional advice if required.