Introduction

Extended reality or XR combines existing virtual reality or VR, augmented reality or AR, and mixed reality or MR. The latest adaptation can drastically change how we consume content online and communicate with others. The post-pandemic life realities and needs demand the use of new technologies to adhere to the newly formed patterns, and XR is very first in line.

Extended reality is being used in many sectors apart from entertainment only. Businesses are using it for training programs and enhancing the customer experience. It can enable remote working, reducing the cost of small businesses. The future technology of XR can transform businesses in data analytics, processing mechanisms, and security operations.

Extended reality has many benefits for businesses, from entertainment to marketing and manufacturing to data analysis. Its 3D visual presentations can help to boost understanding of a complex business phenomenon. The impacts of extended reality in business interactions and engagements can uplift industries to meet new requirements of life.

But the fast pacing technology of extended reality poses some challenges as well. Its operational structure is complex and requires very personal data collection to function correctly. The large-scale implementation of it requires massive investments because of its expensive material. In this article, we will discuss extended reality, its use in different industries, and the challenges of implementing it.

What’s Extended Reality?

The extended reality, or XR, is the new phenomenon of ever-changing technology, opening some unthinkable ways for humanity. It’s the next upgraded and umbrella version of all types of augmented reality (AR), virtual reality (VR), mixed reality (MR), and any other such technology like the internet of things (IoT). To understand extended reality or XR more deeply, it’s necessary to understand virtual reality, augmented reality, and mixed reality.

Virtual Reality (VR)

It was the first step to exploring a new 3D world using some particular type of glasses, headsets, or haptic touch. In the virtual reality experience, a 3D world is created by computer technology, excluding the physical world. In short, virtual reality can create realistic images and sounds to make it like real life.

Augmented Reality (AR)

It’s the opposite of virtual reality, creating a mixture of digital and physical worlds. In augmented reality, not a new reality is created, but a digital reality is implemented in the physical world. With the help of smartphone apps supporting augmented reality, you can focus on any physical object to implement effects, such as a bear on a banknote or an elephant on the table. Some examples of augmented reality are Instagram filters and Snapchat lenses.

Mixed Reality (MR)

Mixed reality is the next phase application of computing. It is a complex combination of virtual reality and augmented where the digital world can interact with the natural world to create complex environments. Mixed reality has the potential to liberate the business from screens to establish a direct relation with data itself.

ER Uses in Business

Training

Extended reality can make the training process more efficient and easy to understand. Different businesses and educational institutions increasingly use technology based on extended reality to train their staff to develop new skills. Numerous benefits can be emphasized, including improved participation, decreased operational expenses, and knowledge retention. This all may help to increase the operational process of business.

Better Customer Experience

With XR, businesses can connect with new consumers and provide creative ways to interact with their goods and services. Customers can watch demos or try on clothing, providing better experiences than what is available in the real world. Adopting XR tools can also be quite beneficial for customer support.

Remote Working

During the Covid-19 pandemic, remote work became the norm, and it still seems to be doing so today. Compared to 2D platforms like Zoom or Skype, VR, AR, and MR enable workers to communicate with their bosses more effectively and collaborate in more productive ways. A virtual environment brings up more opportunities, leading to higher performance for employees and businesses.

Entertainment Industry

With many musicians choosing to host their concerts online, virtual reality events are also starting to catch on in the entertainment sector. A group of artists started experimenting with the Metaverse in 2021 as well. As more events, including concerts, conferences, meet-ups, and other gatherings, transition to entirely virtual settings in the future, we may anticipate a rise in the business. This pattern will be especially pronounced in the Metaverse, as with Sensorium Galaxy, a Metaverse devoted to entertainment options in music, dance, and other forms of entertainment.

Pros and Cons of Extended Reality

Here are some significant pros and cons of extended reality (XR)

Pros of Extended Reality	Cons of Extended Reality
Enables 3D visual sessions for a better understanding	Requires personal data collection to operate
Creates a risk-free and safe environment for learning	The cost of implementation is very high
Create an environment of smooth business interactions	Hidden technical issues can reduce efficiency
Execute result oriented learning process	General acceptability may take a very long time
Can process big data files easily	Concerns regarding health and safety cannot be ruled out
Becoming more and more accessible to the public	Creates hysteria about virtual objects
Improves the workflow of big industries	takes away from real-life problems
It makes the user experience better and more efficient	Largely dependable on network speed
The entertainment experience can touch new highs	The interrupted internet connection can create mental issues
Can provide users new and more realistic view of subjects	Excessive use of extended reality can cause an obsession with overwork
Can enable seamless data access	Hard to predict its application of it in all sectors
Can create a digital twin parallel to real life	Stored data can be hacked
Companies can showcase products in 3D form	Limited access can create social distrust.

Conclusion

It can be concluded that even extended reality (XR) is yet to be industrialized that can present our lives in a new way; it is already setting the future progression of the world revealed in the developments like Facebook’s version of the Metaverse. Extended reality provides a valuable opportunity for entertainment, marketing, sports, tourism, education, and much more to grow in a new way. As technology continues evolving, we will likely see extended reality becoming indispensable to us all.

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