Virtual Reality (VR) and Augmented Reality (AR) Products and Innovations
25 August 2016

Virtual Reality (VR) and Augmented Reality (AR) Products and Innovations

Reviews scenarios where AR is being applied in the financial services sector and other industries. Take a look at the latest tech.

What is Virtual and Augmented Reality

Facebook recently presented their 10 year roadmap at their F8 Developer Conference. Facebook is a global communication innovator and is fundamentally rewriting how people communicate. customer expectations will continue to rise.

Facebook offers tools, APIs, and capabilities we can leverage and all of them have implications for the NAPC and our Contact Centres. This document summarizes the roadmap, capabilities, and implications for the North American Phone Channel Capabilities Roadmap.

Video Overview of Virtual Reality and Augmented Reality

AR Apps

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  1. The AR apps read the GPS data on the smartphone to find the current location
  2. The AR app then determines the compass position where the device is
  3. The app then accesses a database to look for text, hyperlinks, pictures, and media content that have been tagged to the compass location
  4. The AR app displays the relevant content overplayed on a camera image

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AR Digital Signage Image

  • At live events, banners and signs are often hung around display areas and booths.
  • What if you could turn these essential display pieces into a living ad to engage attendees?
  • Emerson Industrial Automation used AR signage to take home the InterBev Award for Best Beverage Marketing Campaign.
  • AR signage can launch a video like Emerson or create a chain of interactions like Baxter Pharmaceuticals did for its banner at a live event.
  • AR signage can attract attendees at events, encourage them to interact with your event staff, and spend more time with your brand to potentially generate more leads or leave an impact.

AR Adoption in the Enterprise

67 percent considering Adoption of Augmented Reality (AR) in the Enterprise

Augmented Reality in the Financial Sector

Common Application of AR

The various scenarios where AR is being applied in the financial services sector are listed below.

Business Users

  • Relationship Manager using AR to track customers in an area
  • Relationship Manager using AR in exceptional conditions, like during a flood and hurricane

Customers

  • ATM Locator
  • Appointment Booking at a Branch
  • Customer acquisition, loyalty, and marketing
  • Property search- AR for home loans
  • Auto insurance

Benefits of AR

Better cross-sales opportunities

  • Ability to identify and blend real-world into cyberspace can help your bank cross-sell various credit products in a highly targeted way
  • For example, customers waiting at an airport to check-in for a flight can quickly point their smartphone at the nearest image of his bank to buy a travel insurance policy

Reduced customer support costs

  • Customers can easily locate and self-service traditional low-value transactions or non-transactions without calling customers supper with AR
  • For example, locating the nearest branch or ATM, determining the working hours of a bank etc.

Personalized Service

  • Augmented reality can help a bank personalize a customer's experience,

Increased retention and potential for lead generation

  • Augmented reality offers a highly effective way to capture the customer's attention, resulting in greater dwell time in one place

AR Initiatives at Global Financial Institutions (early-2016)

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Westpac, Australia

Existing Technology

Moverio BT-200 Moverio (High Quality AR)

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  • The BT-200 is an augmented reality headset capable of displaying HD contents (3D supported).
  • It also enhances your augmented reality experience when using AR apps.
  • This headset comes with a front facing camera, a motion sensor, a built-in Dolby Digital Plus for sound, GPS, microphone, compass and projectors.
  • The BT-200 projects images at a resolution of 960×540 to the transparent glasses, allowing you to watch videos, play games, navigate, and plenty more without losing sight of the physical world.
  • $699 USD

Meta (AR 3D Modelling To Go)

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  • Meta focuses on what Google Glass is not.
  • Gestures are identified by Meta to allow you to freely manipulate 3D objects.
  • Meta gives you unlimited screen experience because you can interact with your world like digital paper.
  • Meta plays video on virtual objects you an play
  • The outcome is a flexible virtual display.
  • This device is capable of being a full-fledged 3D modelling platform on the go, using nothing other than the Meta.
  • Additional technology includes motion tracking, 3D HD display, 3D surround sound, camera, and quality lenses.
  • $667-$3650 USD

Vuzix M-100 (Monocular Display)

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  • Vuzix M-100 also comes with direct-onboard processing and a camera to help it capture and display augmented reality.
  • This device is targeted at the enterprise including commercial and medical applications.
  • Vuzix M-100 smart glasses technology is based on Android and is compatible with thousands of Android applications.
  • The glasses include Nuance Communication speech-to-text software to optimize the M-100 voice dictation system.
  • $999 USD

CastAR (Basic AR Glasses)

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  • CastAR is a pair of glasses and a surface for the glasses to scan.
  • There’s a camera in the middle of the glasses that scans your surroundings.
  • CastAR adjusts accordingly to project images through the two micro-projectors installed on top of the frames.
  • $290-$765USD

Laster SeeThru

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  • SeeThru claim to be the first genuine wireless augmented reality eyewear.
  • Instead of relying on a camera to gather information about your surroundings, SeeThru relies only on location, GPS, and compass data to get things done.
  • The Laster SeeThru is not equipped with a camera to avoid invasion of privacy concerns.
  • The SeeThru focuses almost entirely on sports and activities like biking, parachuting and yachting, among other things.
  • The experience helps with navigate and delivers real-time information.
  • SeeThru is equipped with wireless smartphone communication, localization and navigation, head tracker.
  • $399 USD

Aissis

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  • Aissis augmented reality glasses look like any normal glasses without any visibly big components such as a camera.
  • The elegence this the design is how unobtrusive they are.
  • Icis has a camera, a speaker, microphone, integrated circuit board, and battery.
  • Icis can easily be connected to smartphones running Android, iOS and Windows platforms using a Bluetooth connection.
  • The team is creating an app called socialFlo to select which apps you’d want to see presented in Icis as virtual display widgets.
  • $220 USD

ORA-S

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  • Optinvent ORA-S is a wearable glass with a bigger, brighter, higher resolution display than their competitors.
  • ORA-S features two modes when it comes to locating virtual images.
    • The standard AR Mode lets you view images at 0 degree angle
    • The Glance Mode that enables its user to view from a 20 degree angle
  • This AR glasses comes with specifications sound (through audio jack), microphone, orientation sensor, camera, Wi-Fi, 1.2GHz dual core ARM Cortex microprocessor, 1GB DDR memory with 4GB Flash memory and its running on Android 4.2.2.
  • ORA-S is a good hands-free wearable computer alternative.
  • $949 USD

GlassUp

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  • GlassUp is created to improve the smartphone experience, not mirror it on a glass display.
  • Unlike other products, GlassUp only projects a monochrome image (not colour) to improve battery life.
  • The display projects directly into the field of which significantly improves readability.
  • GlassUP can send emails, display RSS feeds, offers support for the hearing impaired, and can translation real-time conversations into another language on the glass display.
  • <Price TBD>

Atheer One

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  • Atheer One augmented reality glasses are an accessory for your smartphone or tablet device.
  • The Atheer One smart glasses uses natural hand gestures to control it.
  • The glasses have a display for each eye and project the equivalent of a 26-inch tablet into each eye.
  • Atheer One requires an Android device to function.
  • Atheer One displays 3D graphics right in front of you which feels very natural when interacting with hand gestures.
  • $500-$850 USD

K-Glass

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  • K-Glass focuses on replicating the process of how our brains scan the environment around us.
  • Using a technology called Visual Attention Modem (VAM); K-Glass categorizes relevant and irrelevant visual data, replicating the human brain’s ability.
  • K-Glass presents information it thinks will be the most relevant to the user.
  • For example, if you're looking for a meal and end up outside of a restaurant, K-Glass can prompt you with an overlay menu of that restaurants food. Therefore, you don’t have to waste time and effort in getting that information. [TBA]
  • $500-$850 USD

Emerging Technology

Samsung patents design for 'smart' augmented reality contact lenses

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April 2016

  • The contact lenses would be controlled through eye movements and blinking
  • Wearing the lenses would allow users to experience 'augmented' reality, with computer-generated images superimposed over the real world
  • Since the device is so small, it's designed to connect to a smartphone for processing power
  • According to the patent application, the contact lenses would provide much better image quality than existing smart glasses, as well as being far less bulky and intrusive.
The Future of Augmented Reality