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PwC  estimate virtual reality (VR) and augmented reality (AR) can bring net economic benefits of $1.5 trillion by 2030.

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Scale

Time

Space

Layering

Four mind-shifting perspectives to unlock VR

Scale

One of the most interesting and perspective-bending abilities of VR is the capability to immerse ourselves completely into an environment totally outside of our regular size, positioning us in a new relationship with the world.

Time

Digital 3D environments are already being used to build real life scenarios, allowing us to look back at past events. rebuilding them in virtual 3D and using this retrospective data to challenge the published news narrative.

Space

We see VR worlds now as just simulated realities,A 1KB hard drive may seem like a small feat but this could ramp up to become the building block for a fully working and functioning second world where we can build.

{[Layering}}

A space, a time and a scale. The potential that VR has when these elements are combined is the ability to construct a fully immersive and working environment, layered with multiple sets of information that we can interact with.

What's Next

This new phase of immersive design and its applications of creating new experiences has only just begun. To understand more about how to build these into your business or learn more about its potential, contact PwC teams so there can work together.
You can also download new 'Seeing is believing' report into how VR/AR are transforming business and the economy here.

How VR and AR are transforming manufacturing

‘Seeing is believing’ report on the economic impact of VR and AR also highlights how these immersive technologies can drive significant process improvements, with the potential to boost global GDP by $275 billion by 2030.
For example, engineers and technicians in the field can be fed information and access instruction manuals in real time using an AR interface, so that they can quickly identify problems and conduct repairs and maintenance.

How virtual reality is transforming training

High-risk scenarios

In healthcare, for example, student doctors are using VR to gain access to virtual operating theatres. Militaries are using VR to train soldiers for bomb disposal, and oil companies are recreating risky scenarios on rigs. 

But VR has far more to offer, that is relevant to everybody - not just surgeons, soldiers and rig workers - including benefits such as the development of behavioural skills.

Virtual reality, real results

Using immersive and interactive experiences, VR can drop you into difficult conversations, appraisals, or interviews. You can test your own responses, or step into the shoes of team members. VR can put you on stage in front of an audience or transport you into a high-pressure presentation.
Other organisations are also benefiting from the efficiencies in scale and cost that VR brings to training which are only just starting to emerge.

Experience the power of VR

PwC had hugely positive feedback from a recent programme we ran for a client, helping to embed new behaviours at the top of an organisation to improve employee engagement and address cultural challenges.
Using VR, PwC put leaders into the virtual shoes of their team members, so they could feel what it is like to be on the other side of the desk. It showed how poor behaviours at the top impacted not only people in their teams but customers too.

Economic impact of VR

PwC economists predict VR and AR have the potential to boost the global economy by $1.5 trillion over the next 10 years, with one fifth of that ($294 billion) driven by their use in training.
To take advantage of these benefits, PwC encourage all organisations to think how VR can enrich training programmes. Such planning should also include consideration of issues that could hamper effectiveness.
For example, many people will find VR exciting, but others may be intimidated. So supporting and reassuring learners should be well planned, with consideration given to ensure it is accessible to all.

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