I remain excited, but not wholly convinced by the prospect of Virtual Reality. Many pundits and analysts believe that within the next few years, Virtual Reality is set to explode, finally becoming the mainstream attraction that 80’s tech promised, but failed to deliver.
I’ve gone eyeballs on with some of the impending VR solutions, and they largely work as advertised. Many have faith that VR will end up being a revolution. And now, one of the largest Investment firms on the planet, Goldman Sachs, believes VR is set to take off in a big way, becoming an $80 Billion industry by 2025.
“While today virtual reality is primarily thought of as a place for hardcore gamers to spend their spare time, it’s increasingly impacting sectors that people touch every day,” says Heather Bellini, Business Unit Leader in Telecommunications, Media and Technology at investment Firm Goldman Sachs, “For example, in real-state: instead of having to go see 50 homes with an agent over the weekend, you might be able to put on a pair of virtual reality glasses or a head mounted display at your realtors office and be able to do a virtual walk-through of what those properties look like and therefore maybe you could eliminate 30 out of 50 on your list and be much more efficient with your time.”
“We think this technology has the potential to transform how we interact with almost every industry today, and we think it will be equally transformative both from a consumer and an enterprise perspective,” “At the end of the day we think VR and AR will be as transformation as the smartphone market.”
But how is that different from the garbage VR that flooded malls and arcades in years past?
“What’s different about virtual reality today versus, say, 10 years ago when people thought this was going to become mainstream, is that the technology has started to catch up,” says Bellini. “We have processor speeds—things like Moore’s Law have really transformed chip speed—graphics cards have gotten more powerful, so you’re [able] to see the number of frames per second that your eyes need to see so that you don’t feel queasy as you’re starting to use these types of devices.”
While I’m still not won over by the prospect of VR in full games, it does work exceptionally well in more limited “experiences.” Like Bellini though, I think VR’s real future exists outside of video games, as a disruptive technology that changes the way we do certain things; her example in real-estate is prime, as are applications like medical training, aviation and engineering. And of course, that Adult Entertainment stuff.
Last Updated: February 16, 2016