Extended Reality (XR) is beginning to reshape business and entertainment. For retail, it’s looking very similar to the effect e-commerce had on bricks and mortar stores. For gaming, it may be analogous to the development of home consoles.
Like the smartphone, one day (and we think it’s not too far away) we will look back and wonder how we lived before XR.
At Aequilibrium, we’ve been curious and learning about XR for years so that we can help our clients thrive. But everything has to start somewhere, so let’s dive into the top 5 things you need to know in order to have a solid understanding of all things XR.
The Terminology of the New Realities
The first thing we need to understand is what the plethora of new terms and acronyms mean. Here are the foundational terms you need to know with a simple definition.
Extended Reality (XR)
Extended reality is the output of any technology that blends the real and virtual worlds. It is an umbrella term that includes all of the other realities such as, virtual reality (VR), augmented reality (AR), mixed reality (MR) and immersive reality.
Virtual Reality (VR)
Virtual reality is a computer-generated simulation or recreation of a real or imagined environment that allows users to interact with and explore that environment. An example is VR gaming with games like Beat Saber, the popular rhythm game, that immerses you in a futuristic environment.
Immersive Reality (IR)
Immersive reality is a computer-generated simulation or recreation of a real or imagined environment that is so convincing that people suspend their disbelief and fully interact in the environment. Perhaps the best example of immersive reality currently is Birdly, a VR platform that gives people the experience of using their body to fly, just like a bird.
Augmented Reality (AR)
Augmented reality is the overlaying of digital content onto the real-world environment, enhancing the perception and interaction with the physical surroundings. It can be thought of as a digital enhancement of the real world. One of the most well-known examples of augmented reality is the mobile phone game Pokemon GO, where people would catch digital Pokemon in the real world.
Mixed Reality (MR)
Mixed reality is a merging of digital and real-world elements, where digital objects are anchored in the physical environment and can be interacted with. A great example of mixed reality are the Snapchat filters that alter appearance or place digital accessories, like sunglasses, on people’s faces.
The Leading XR Hardware Products
There are really two basic elements to XR, the hardware and the software, just like any computer. Let’s take a quick look at the current state of the top hardware products in the extended reality space. Note that this list is certainly not exhaustive nor is it intended as a ranking.
Meta Quest
The Meta Quest is a standalone VR headset that does not require a computer and has both wired and wireless VR experiences. Currently there is the popular Quest 2 and the Quest Pro, which is essentially a far more powerful version of the Quest 2 and recommended for enterprise users. There is also the soon-to-be-released Quest 3.
HTC Vive
The HTC Vive provides a high-quality VR experience with room-scale tracking and motion controllers. It is an all-in-one that is in-line with the Quest Pro from Meta. There is also the Vive Pro 2, a gaming headset that is powered by a computer, giving it excellent performance and resolution. The Vive Cosmos Elite is a less expensive and less powerful version of the Pro 2.
Apple Vision Pro
The Apple Vision Pro is the new headset announced by Apple, and is AR focused with hand tracking control and eye tracking. Though not a lot is known about this headset at the time of writing, enthusiasts and experts agree that the Apple Vision Pro will shake up the market and become an industry leader in both gaming and business.
The Leading XR Software Development Platforms
There are many software platforms available for app development. Here are some of the top development platforms used by leading XR developers in the industry.
Unity
Unity’s XR tools can be used to create immersive experiences across a wide variety of applications. It delivers features like integrated VR/AR support, spatial mapping, hand tracking, and physics simulation tailored for XR development. Unity also has a large (and active) community and asset store, which makes it easier to find resources and plugins for XR projects.
Aequilibrium is a certified Unity partner, helping turn Unity’s world-leading capabilities into stunning and practical immersive solutions for our clients.
Unreal Engine
Unreal Engine supports multiple XR platforms, including Oculus Rift, HTC Vive, PlayStation VR, and others. It offers built-in VR/AR templates, realistic rendering, advanced physics simulation, and extensive blueprint scripting for XR interactions. Unreal Engine’s Blueprint visual scripting system allows developers to create XR experiences without extensive coding knowledge.
What Businesses Are Currently Using XR
XR is rapidly finding new and exciting ways to impact business. It’s important to remember that what we highlight here is live and available now.
To see the way business is using XR, it is most valuable to break it down by two current popular use cases with an example from each.
Digital Twins
A digital twin is exactly what it sounds like — a virtual copy of a real life object, place, or person that replicates real-life behaviour.
One prime example is the Vancouver Airport (YVR). Consistently rated North America’s best airport, YVR recently launched a digital twin program to solve challenges and support the future growth of the region. The digital twin of YVR has many uses: optimization, future planning, simulation, testing, training to name a few.
In fact, Aequilibrium recently hosted a webinar with our partner Unity to discuss the YVR project in detail, along with other examples of digital twins.
Immersive Learning
Immersive learning uses an immersive reality environment to upskill, onboard and collaborate more efficiently and with more engagement, no matter where team members are located.
One great example is Emirates Group using the immersive learning platform Motive, in collaboration with Amazon Web Service, to train and onboard cabin crew in a low-stakes, virtual environment.
Aequilibrium is proudly a certified Motive.io partner, helping optimize and customize the Motive platform for our clients unique business needs.
What Industries Can Benefit From XR?
We’ve looked at a couple of businesses that are currently using XR. The use cases are growing fast, but even with only considering digital twins and immersive learning, it’s easy to see how XR can benefit virtually any industry.
One great example that is rapidly growing and set to redefine the industry is credit unions and banks. Way back in 2021, Bank of America began using immersive training to help employees advance their careers and better meet client needs.
Immersive learning is a great tool to upskill employees in soft skills, helping them to improve customer service and internal relations. It also allows for more efficient onboarding and collaboration. But there’s another advantage to bringing XR into a credit union or bank.
By adopting early, financial institutions can create a culture of education and understanding around XR so that as XR advances into becoming a touchpoint for members or clients to engage with their credit union or bank, the financial institution will have the culture and foundations already in place. So immersive learning has major benefits today but may also have knock-on benefits in the future.
Want to Learn More?
Whether you’re a Director of HR, L&D, or Head of Product/Technology looking for the cutting edge of maintaining employee engagement through extended reality, our team at Aequilbrium can help you out. Click here to learn more about how we work with Unity and Motiv.io to provide customized solutions for our partners.
