Heather Bellini, a managing director of global investment bank, Goldman Sachs says she expects virtual and augmented reality to turnover US $80 billion by 2025.
She’s not alone in estimating that immersive technologies are the lighthouse that will help guide ships of industry to undiscovered territory.
The UK government is so convinced immersive technologies are the future that they are prepared to invest more than £150m to help pioneer the next generation of creative products and services.
It is expected that by pushing immersive technologies into the public consciousness, it will spark a wider uptake of the technology and shape the perception and behaviour towards virtual and augmented reality.
Investment banks are well-positioned to drive the adoption of immersive technologies by enhancing customer experience on digital platforms. Not only is VR and AR beneficial for financial institutions, it’s also a solution for your business clients.
Immersive Technology Improves Efficiency
New research reveals that VR/AR solutions help deliver better efficiency, drive productivity and improve security. According to the report, 82% of companies trialling AR/VR confirmed the technology exceeded expectations.
Thanks to the ubiquitous smartphone, trends in mobile banking are accelerating at a rapid pace. According to a study performed by Citi, banking apps offer convenience, speed and financial insights.
Established financial institutions are also coming under increasing pressure from fintech startups that have the agility and technical know-how to transform traditional banking standards.
A report commissioned by Immerse UK concluded that immersive technologies have the potential to help drive the UK economy. In the wake of Brexit, UK companies will look to AR/VR to overcome the productivity gap.
Investment banks now find themselves in a position where consideration has to be given to audiences of the future and commit to delivering solutions to key sectors in both the personal and public space.