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The New 4th Economy: AR and VR

Darlo Virtual Reality

Introduction

A few decades ago, the internet changed the world.

The internet ushered in changes to the world, our connectivity, new business models, as well as social media, influencers, and 24-7 messaging. The world became smaller, much smaller, and yet somehow so much bigger.

The coming 4th economy – Virtual Reality and Augmented Reality – will make a more significant impact on the globe. While at face value, some people think, ‘oh that’s nice, there’s some nice graphics’, it’s going to be so much more than this.

So what do I think is going to happen?

Story

It is pretty obvious that the immediately visual world is going to change. Entertainment such as movies and television, street signage, education and training, and basic use of phones and the internet will become full of accessible 3D programs and experiences.
Already VR and AR is being used in work settings, including hospitals and technology based companies.

Consider, though, the substantial impact that VR and AR is going to have on the built environment. Manufacturers will need to develop furniture, table and chairs that include VR docking stations and capabilities. There’ll most likely be clothing and shoes and other attire with technology capabilities. While there are already glasses and headwear, it is more likely that the devices themselves will generate VR and AR. This will create more appliances, and telecommunications.

One of the coolest things that will be happen are virtual offices. No, not the ones where you have no an address but no office. This virtual office is a completely 3D base world where you do your work in an environment of your making. Around the world, people will be able to work in an online virtual space, sharing tools and ideas through avatars and in real time, with real assets. A second life that has moved on and taken over the corporate world. A second corporate life, if you will.

It’s quite cool to think that, without the limits of space and geographic restrictions, and the opportunity for invention, what will be possible. Surely, new markets and economies will happen with a virtual world, albeit for ‘mainstream’ audiences.

Conclusion

I really think that a new technological revolution is a short time away.

The intellectual infrastructure, with artificial intelligence, machine learning, crypto currency, faster networking, and data-warehousing, are all laying the ground work for new technology.

The balance of privacy and individual rights will continue to be a source of contention, and VR/AR will continue to open up a minefield of ethical issues.

A technological boom is on the way. It’s going to make the world look awfully different than it is today.