Companies are joining the Private Industry Association for augmented reality (AR) business development to raise the level of engagement of their customers and clients. This concept is nothing new. However, as an industry we’ve seen a slow but steady increase in the technology being applied in this field. The Association brings together augmented reality technology and start up companies to share ideas on how to create new business opportunities for this rapidly growing sector.
One of the first companies to get on board was AT&T, who announced at IBS Connect Asia last month that they were investing $ Cyborg Lab, a digital innovation company. They will work with Cyberspace Solutions Corporation to provide augmented reality solutions and mobile solutions to their business. In the world of business, this is not too far off.
Another company involved is Managed Reality Solutions, which also has invested in the field. They too are looking at the Real Estate and Commerce verticals. According to them, real estate is one of the fastest growing sectors for augmented reality usage. They believe it will be used by banks and financial institutes to provide more efficient and accurate real estate financing options. They see real estate investing as a platform for entrepreneurs to express their creativity and innovation through applications such as real estate investing.
On the other side of the fence, Google has invested in Metaio, a company that builds computer vision systems and robotic software. Metaio will work with Google’s self-driving autonomous car project. The company recently raised $ Measures and Caparo Capital Series D financing, valuing the company at close to $40 million. Investors included Greibel Segal of Accel Partners, Chris Capra ofaina Venture Capital, and Keith Gillette of KPMG. These are only a few of the many private investors who have put money into Metaio and its related companies.
The companies that are working with Google on self-driving cars include Delphi, Nuvi Technology, and Systems and Trainers. These three technologies will help businesses move their operations more efficiently across the road. For example, when a driver takes an action that causes his car to go faster, the computer system will take note of that and “calculate” the probability of the action, which then gives the driver the right answer to the questions asked.
Augmented reality is not just about business, however. Everyday, millions of people use the iPhone and iPad to search and view images on the web. If the web’s user can see pictures of something that he is searching for, he will find it. With this technology, the Internet is becoming an even better tool for entertainment. In fact, entertainment and information are going to become the focus of a major push from Google.
In order for this technology to work, the company will have to partner with a myriad of different groups and companies. This is a difficult feat, though. The key is that once a company has signed on to work with Google, they will need to be in compliance with the guidelines that Google has set forth. To make things easier on them, the company can work with a compliance specialist, as well as a company that has experience in the application of these types of strategies.
It is unclear as to what form this new strategy will take, or if it will involve more than one company. Only time will tell. In the meantime, businesses large and small should work closely with Google to create a more efficient way to use the web. If you own or operate a business, you should contact the Compliance department at Google. They will help your business navigate the world of public reality.