SparX: VR/AR has started and it proved that the future is here for enterprise augmented and virtual reality! Discover how AR/VR can be adapted to different industries and what challenges it can solve.
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Optimizing product marketing and brand experience with augmented and virtual reality technologies has been “the talk of the town” across industries. It was also the motto for my keynote presentation as AR Lab Coach at the recent kick-off of the VR/AR SparX Labs in Munich, last July 24th. Through a series of examples, this discussion demonstrated how to enhance product content with attractive entertainment and infotainment.
Joined by fellow Lab Coaches from VRdirect and New Web Order, we welcomed challenger pitches from three well-known German companies: Deutsch Bank, Scalable Capital and AeroGround Munich Airport.
Challenge #1: Dialing up banking experience with VR
Challenger: Deutsche Bank, a German multinational investment bank and financial services company
The global banking market is developing rapidly, and with it, branch networks have started losing ground, giving way to new financial technologies. For some banking services, visits to the bank branch are not as frequent as they used to be, with customers opting for online tools. Deutsche Bank is looking to explore new digital ways of relevance for their target audiences.
A possible solution:
In contrast to typical bank brochures and screens at a bank branch, the virtual customer advisor can take the customer on a journey, where banking products become tangible in a colorful, three-dimensional environment. This doesn’t just eliminate the need for customers to physically visit the bank, but also helps traditional banking services stand out against non-traditional alternatives with additional experience quality.
However, a virtual banker also raises some concerns: how to ensure that the virtual consultant is not only perceived as knowledgeable, but also emotionally accepted by all customer profiles?
The results of this case will be very interesting to explore and replicate for other third-party services beyond the banking business, where a virtual client advisor can be the logical next step to upgrade the customer experience.
Challenge #2: Augmenting simplicity for complex, algorithm-based services
Challenger: Scalable Capital, an asset management company that uses proprietary software to offer dynamically optimized investment services with a primary focus on risk management.
Modern asset management, using artificial intelligence and algorithms to optimize investment products, is a complex service to communicate. For example, how do the different risk factors interact in an investment fund? Which stand for the overall result? How to balance high profit maintenance versus security of the investment? This becomes even trickier when customers typically have acquired misconceptions from the news and media.
A possible solution:
What if we could turn these algorithms into AR/VR interactive environments that help customers not only understand the concepts, but also remember the products? Being able to visualize how the different products work will increase customers’ confidence when comparing options, making smarter decisions and building up their investment portfolios.
Challenge #3: Hiring and training staff virtually anywhere
Challenger: AeroGround Munich Airport, responsible for landside and airside services for aircraft, baggage and passenger handling
Today's airport operations - especially at a hub such as Munich or Frankfurt - face great challenges: due to the very short processing time to work on aircrafts, demand for high quality service standards, and the technical knowledge required, any small mistake can result in considerable amounts of damage. Hiring, training and retaining a qualified talent becomes key, but there’s a shortage of skilled workers in Western European service companies.
In this case, the challenge is to put the latest technologies at the service of employer branding. During the recruitment process, applicants can be virtually transported into their future work environment from the place of recruiting, interact with the recruiter and get tested in typical tasks. Recruiters will be able to find the right candidates for each position faster, and at a lower cost.
With courses readily available in their native language and using real-scale virtual models that integrate with their existing working environments, onboarding new hires or updating current staff also becomes more cost-effective.
Besides reducing costs associated with training (such as expert resources and travel), immersive training will help ramp up newcomers faster, reduce their learning curve, as well enable AeroGround to build a license management system to standardize HR processes internationally.
The motto for the event, “Let's Bring To Life What's Next!” was definitely met during this first session, and we look forward to see how it will be met in the upcoming sessions. For a more extensive recap of this event, you can also check the VR Business Club article online (in German).
Following the challenger pitches, a series of three workshops will take place on September 19th, October 1st and 14th. These sessions will function as labs, where the AR and VR experts will work closely with the three companies to brainstorm and design the most effective AR/VR solution for their business needs.
The final presentations will be held on October 24th, during the Munich Media Days. Here, the coaches and customers will discuss the results from the three workshops to the public.
The SparX Labs live workshops are free to join, so if you’d like to participate message us in the comments section below.
About the author
Marc Haarmeier has been responsible for the introduction of digital solutions for over 20 years. During his studies as an industrial engineer, he supervised international transformation projects for a consulting firm. In 1997 he became a member of the firm’s management as a division manager. In 2003, he and other partners founded a group of companies with subsidiaries in Germany, Austria and Switzerland which focused on digital solutions for business-critical processes. Since 2011, he has been working at AMPLEXOR, responsible for digital processes in the DACH/CEE area. He is a driving force behind digital transformation with a focus on the comprehensive Digital Experience Management portfolio.