Connect with us

Technology

What is Extended Reality (XR)?

Published

on

What is Extended Reality (XR)?

What is Extended Reality (XR)?

It’s the year 2030, and you have a busy day scheduled. You need to check on your production lines in China, visit Mars during your lunch break, and attend a business meeting in Brazil – all from the comfort of your office in New York.

While it might sound far-fetched now, this future might be within our grasp thanks to advancements in Extended Reality (XR). Today’s infographic from Raconteur illustrates the growth of XR technology, and its potential to transform business across industries.

Understanding Extended Reality

To understand Extended Reality (XR), we’ll begin by defining three of its main components: virtual, augmented, and mixed reality.

Virtual Reality

Virtual Reality (VR) applications use headsets to fully immerse users in a computer-simulated reality. These headsets generate realistic sounds and images, engaging all five senses to create an interactive virtual world.

Augmented Reality

Augmented Reality (AR) is not a new reality, but a layer on top of your existing one. Rather than immersing users, AR relies on a device – usually the camera in your phone or tablet – to overlay digital graphics and sounds into a real-world environment. Pokémon Go and Snapchat filters are commonplace examples of this kind of technology.

Mixed Reality

Mixed Reality (MR) lies somewhere in between VR and AR. It blends real and virtual worlds to create complex environments where physical and digital elements can interact in real time. Like AR, it overlays synthetic content in a real-world environment; and like VR, this content is interactive, and users can manipulate the digital objects in their physical space.

With their Spectator View, Microsoft has used MR as a complement to their HoloLens AR product. The Spectator View app offers users a third-party perspective of a HoloLens user and their AR content in real time.

Extended Reality

Extended Reality (XR) is the umbrella term used for VR, AR, and MR, as well as all future realities such technology might bring. XR covers the full spectrum of real and virtual environments.

The use of an umbrella term speaks to the future of XR as a fundamental shift in the way people interact with media. In the future, instead of saying “I’m using AR to attend a business meeting” – it will just be another day at the office. People will interact with the real and virtual worlds in seamless ways, without mention of extended reality’s distinct categories and their underpinning technology.

To use an umbrella term is to recognize the intersection of these technologies, and the many ways they will work together to disrupt our everyday tasks.

XR for Business

Extended reality is changing the landscape in a number of industries. It’s expected to grow eightfold, reaching an estimated market size of more than $209 billion by 2022.

Extended reality forecast market size 2022

A glance at current use cases shows the potential for XR across industries:

  • Entertainment
    XR brings immersive experiences to the entertainment world, and offers consumers an opportunity to virtually experience live music and sporting events from the comfort of their VR headset. While a majority of market share leans heavily towards entertainment, it’s not the only one gearing up for a virtual expansion.
  • Marketing
    Virtual realities have opened new ways for brands to engage with consumers, offering immersive ways to interact with new products.
  • Training
    Extended reality opens new avenues for training and education. People who work in high-risk conditions – like chemists and pilots – can train in safety from a more conventional classroom setting. Medical students, meanwhile, can get hands-on practice on virtual patients.
  • Real Estate
    Property managers can streamline the rental process by allowing potential tenants to view properties virtually, while architects and interior designers can leverage XR to bring their designs to life.
  • Remote Work
    XR removes distance barriers, allowing remote employees to seamlessly access data from anywhere in the world.

Extended reality is not without its challenges. The spread of data presents a new layer of vulnerability for cyber attacks, while the high cost of implementation is a barrier to entry for many companies.

But even these challenges can’t slow the progress of XR, and the question remains: how will businesses define reality five years from now?

Subscribe to Visual Capitalist

Click for Comments

Technology

Charted: The Jobs Most Impacted by AI

We visualized the results of an analysis by the World Economic Forum, which uncovered the jobs most impacted by AI.

Published

on

Charted: The Jobs Most Impacted by AI

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Large language models (LLMs) and other generative AI tools haven’t been around for very long, but they’re expected to have far-reaching impacts on the way people do their jobs. With this in mind, researchers have already begun studying the potential impacts of this transformative technology.

In this graphic, we’ve visualized the results of a World Economic Forum report, which estimated how different job departments will be exposed to AI disruption.

Data and Methodology

To identify the job departments most impacted by AI, researchers assessed over 19,000 occupational tasks (e.g. reading documents) to determine if they relied on language. If a task was deemed language-based, it was then determined how much human involvement was needed to complete that task.

With this analysis, researchers were then able to estimate how AI would impact different occupational groups.

DepartmentLarge impact (%)Small impact (%)No impact (%)
IT73261
Finance70219
Customer Sales671617
Operations651817
HR57412
Marketing56413
Legal46504
Supply Chain431839

In our graphic, large impact refers to tasks that will be fully automated or significantly altered by AI technologies. Small impact refers to tasks that have a lesser potential for disruption.

Where AI will make the biggest impact

Jobs in information technology (IT) and finance have the highest share of tasks expected to be largely impacted by AI.

Within IT, tasks that are expected to be automated include software quality assurance and customer support. On the finance side, researchers believe that AI could be significantly useful for bookkeeping, accounting, and auditing.

Still interested in AI? Check out this graphic which ranked the most commonly used AI tools in 2023.

Continue Reading
Voronoi, the app by Visual Capitalist. Where data tells the story. Download on App Store or Google Play

Subscribe

Popular