2016 & Virtual Reality Technology

TAMPA, Fla. - Aug. 16, 2016 - PRLog -- What Is Virtual Reality?

Virtual reality (VR), immersive multimedia or computer-simulated reality is basically just a replica of an environment that can be as similar to or distinct from a real environment, as our imaginations and tools allow. Virtual realities can even, "Artificially create sensory experiences, including sight, hearing, touch and smell" (Wikipedia, 2015). Just as in the real world, you can interact with the virtual world depending upon your access to tools, such as the controllers used by modern console games and the mouse-keyboard combo used for most desktop computers. So whether you're a staunch supporter of the "PC master race" or consider yourself "console gaming royalty", VR will likely have options for you.

How Is VR Being Used, Already?

You may not have noticed it just yet but virtual reality technology is pretty much set to go and being used in a wide variety of public organizations all throughout the world, including here in the United States. From universities and offices to art galleries and hospitals, interest in and implementation of virtual reality technology is on the rise. In the warm and sunny hometown of Pomona, California, the Western University of Health Sciences welcomes students into their cutting-edge Virtual Reality Learning Center. These students can study dentistry, osteopathic medicine, veterinary medicine, physical therapy and nursing through VR. "The Virtual Reality Learning Center currently houses four different VR technologies: two zSpace displays, the Anatomage Virtual Dissection Table, the Oculus Rift and Stanford anatomical models for iPad" (Fortune, Oct. 2015).

But students aren't the only group with access to today's incredible tech. Businesses are teaming up with public institutions, including healthcare centers in order to present the potential of VR to the medical community. Next Galaxy Corp, a developer of VR technology, has successfully collaborated with the Miami Children's Hospital so that they can train their staff through VR. Their goal is to develop "VR medical instructional software for procedures like nasogastric tube insertion, intubation, cardiopulmonary resuscitation (CPR), Heimlich maneuver, Foley catheter insertion, wound care and for starting an IV." (Augmented Reality Trends, Aug. 2015).

The ROI for Virtual Reality (VR) Technology

CEO, Brad D. Smith stated, "Millennials, and the generations that follow, are shaping technology. This generation has grown up with computing in the palm of their hands. They are more socially and globally connected through mobile Internet devices than any prior generation. And they don't question, they just learn".

The Return on Investment (ROI) for virtual reality technology is simply a measurement that comes from the amount you can expect to get back (i.e. the return), after spending (i.e. investing) some amount on the tech. You can quickly calculate this (or seek the help of a simple online calculator) and determine what the ROI is for any current tech you might own by dividing the amount of money made by the amount of money spent and reading the result as a percentage. But for those of us who still don't have access to this tech personally, consider what others who do have reported, already.

Reported Benefits (Returns) from VR Investments

Remember, the Miami Children's Hospital I mentioned earlier? Well, they've happily reported the benefit of virtual reality technology for their employee retention levels. The hospital's CEO, Dr. Narendra Kini explained that, "Retention levels after one year of VR training is 80 percent compared to 20 percent, after a week with conventional training". So, the ability to train or offer new perspectives to employees, students, etc. is highly valuable in the virtual world. Commercial hubs (e.g. offices, hospitals, hotels, retail locations, etc.) are very well suited for this.

Popularity of VR Technology

In a survey of 1,000 American adults that was prepared using Google's Consumer Survey data by the VR content sharing site, YouVisit, they discovered that there is definitely a receptive market for VR technology. They estimate that, "Around 23 million American adults, 11 percent of the online adult population, have already tried virtual reality, even ahead of consumer product launches due this winter (Yes, very soon my sci-fi loving and gamer friends), including the release of the Facebook Oculus Rift, Sony PlayStation VR and HTC Vive headsets. A further 30 percent of online Americans aged 18 and up express a desire to try the technology. Younger consumers are the most likely to have tried virtual reality, with 18 percent of 18-24 year olds reporting that they have already tried VR and 46 percent eager to try it" (YouVisit, Sep. 2015). In their report they also share the findings of Tim Merel, the founder of Digi-Capital (VR/AR consulting company), who estimates that "The virtual reality industry is projected to grow to around $30 billion annually by 2020". We'll check back in 2020 to see how far we've come and how many headsets are in homes across the nation. In the meantime, pay close attention, consider your role in the digital world and absolutely do enjoy the virtual opportunities, fast approaching!

VR Technology In The Future

So my fellow technology enthusiasts, developers and observers, help me to welcome in 2016 once more by celebrating not just with the same traditional fireworks and wine but with a cheer for the virtual technology we've all been waiting for since 1995. It's finally, arrived!

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