How Augmented Reality (AR) will change your industry
Augmented Reality (AR) has already exceeded over 2,000 AR apps on over 1.4 billion active iOS devices. Even if on a rudimentary level, the technology is now permeating the consumer products space.
And in just the next four years, the International Data Corporation (IDC) forecasts AR headset production will surge 141 percent each year, reaching a whopping 32 million units by 2023.
AR will soon serve as a surgeon’s assistant, a sales agent, and an educator, personalized to your kids’ learning patterns and interests.
In this fourth installment of our five-part AR series, I’m doing a deep dive into AR’s most exciting industry applications, poised to hit the market in the next 5-10 years.
Let’s dive in.
(1) Surgeons and physicians:
Whether through detailed and dynamic anatomical annotations or visualized patient-specific guidance, AR will soon augment every human medical practitioner.
To start, AR is already being used as a diagnosis tool. SyncThink, recently hired by Magic Leap, has developed eye-tracking technology to diagnose concussions and balance disorders. Yet another startup, XRHealth, launched its ARHealth platform on Magic Leap to aid in rehabilitation, pain distraction, and psychological assessment.
Moreover, surgeons at the Imperial College London have used Microsoft’s HoloLens 1 in pre-operative reconstructive and plastic surgery procedures, which typically involves using CT scans to map blood vessels that supply vital nutrients during surgery.
As explained by the project’s senior researcher, Dr. Philip Pratt, “With the HoloLens, we’re now doing the same kind of [scan] and then processing the data captured to make it suitable to look at. That means we end up with a silhouette of a limb, the location of the injury, and the course of the vessels through the area, as opposed to this grayscale image of a scan and a bit more guesswork.”
Dramatically lowering associated risks, AR can even help surgeons visualize the depth of vessels and choose the optimal incision location.
And while the HoloLens 1 was only used in pre-op visualizations, Microsoft’s HoloLens 2 is on track to reach the operating table. Take Philips’ Azurion image-guided therapy platform, for instance. Built specifically for the HoloLens 2, Azurion strives to provide surgeons with real-time patient data and dynamic 3D imagery as they operate.
Moreover, AR headsets and the virtual overlays they provide will exponentially improve sharing of expertise across hospitals and medical practices. Niche medical specialists will be able to direct surgeons remotely from across the country (not to mention the other side of the planet), or even view annotated AR scans to offer their advice.
Magic Leap, in its own right, is now collaborating with German medical company Brainlab to create a 3D spatial viewer that would allow clinicians to work together in surgical procedures across disciplines.
But beyond democratizing medical expertise, AR will even provide instantaneous patient histories, gearing doctors with AI-processed information for more accurate diagnoses in a fraction of the time.
By saving physicians’ time, AR will therefore free doctors to spend a greater percentage of their day engaging in face-to-face contact with their patients, establishing trust, compassion, and an opportunity to educate healthcare consumers (rather than merely treating them).
And when it comes to digital records, doctors can simply use voice control to transcribe entire interactions and patient visits, multiplying what can be done in a day, and vastly improving the patient experience.
(2) Assistance for those with disabilities:
Today, over 3.4 million visually impaired individuals reside in the U.S. alone. But thanks to new developments in the AI-integrated smart glasses realm, associated constraints could soon fade in severity.
And new pioneers continue to enter the market, including NavCog, Horus, AIServe, and MyEye, among others. Microsoft has even begun development of a “Seeing AI” app, which translates the world into audio descriptions for the blind, as seen through a smartphone’s camera lens.
During the Reality Virtual Hackathon in January, hosted by Magic Leap at MIT, two of the top three winners catered to disabilities. CleARsite provided environment reconstruction, haptic feedback, and Soundfield Audio overlay to enhance a visually impaired individual’s interaction with the world. Meanwhile, HeAR used a Magic Leap 1 headset to translate vocals or sign language into readable text in speech bubbles in the user’s field of view. Magic Leap remains dedicated to numerous such applications, each slated to vastly improve quality of life.
(3) Biometric displays:
In biometrics, cyclist sunglasses and swimmer goggles have evolved into the perfect medium for AR health metric displays. Smart glasses like the Solos ($499) and Everysight Raptors ($599) provide cyclists with data on speed, power, and heart rate, along with navigation instructions. Meanwhile, Form goggles ($199)—just released at the end of August—show swimmers their pace, calories burned, distance, and stroke count in real-time, up to 32 feet underwater.
Accessible health data will shift off our wrists and into our fields of view, offering us personalized health recommendations and pushing our training limits alike.
Retail & Advertising
(1) Virtual shopping:
The year is 2030. Walk into any (now AI-driven, sensor-laden, and IoT-retrofitted) store, and every mannequin will be wearing a digital design customized to your preferences. Forget digging through racks of garments or hunting down your size. Cross-referencing your purchase history, gaze patterns, and current closet inventory, AIs will display tailor-made items most suitable for your wardrobe, adjusted to your individual measurements.
An app available on most Android smartphones, Google Lens is already leaping into this marketplace, allowing users to scan QR codes and objects through their smartphone cameras. Within the product, Google Lens’s Style Match feature even gives consumers the capability to identify pieces of clothing or furniture and view similar designs available online and through e-commerce platforms.
And these mobile AR features are quickly encroaching upon ads as well.
In July, the New York Times debuted an AR ad for Netflix’s “Stranger Things,” for instance, guiding smartphone users to scan the page with their Google Lens app and experience the show’s fictional Starcourt Mall come to life.
But immersive AR advertisements of the future won’t all be unsolicited and obtrusive. Many will likely prove helpful.
As you walk down a grocery store aisle, discounts and special deals on your favorite items might populate your AR smart glasses. Or if you find yourself admiring an expensive pair of pants, your headset might suggest similar items at a lower cost, or cheaper distributors with the same product. Passing a stadium on the way to work, next weekend’s best concert ticket deals might filter through your AR suggestions—whether your personal AI intends them for your friend’s upcoming birthday or your own enjoyment.
Instead of bombarding you at every turn on a needed handheld device, ads will appear only when most relevant to your physical surroundings— or toggle them off, and have your personal AI do the product research for you.
Education & Travel
(1) Customized, continuous learning:
The convergence of today’s AI revolution with AR advancements gives us the ability to create individually customized learning environments.
Throw sensors in the mix for tracking of neural and physiological data, and students will soon be empowered to better mediate a growth mindset, and even work towards achieving a flow state (which research shows can vastly amplify learning).
Within the classroom, Magic Leap One’s Lumin operating system allows multiple wearers to share in a digital experience, such as a dissection or historical map. And from a collaborative creation standpoint, students can use Magic Leap’s CAD application to join forces on 3D designs.
In success, AR’s convergence with biometric sensors and AI will give rise to an extraordinarily different education system: one comprised of delocalized, individually customizable, responsive, and accelerated learning environments.
Continuous and learn-everywhere education will no longer be confined to the classroom. Already, numerous AR mobile apps can identify objects in a user’s visual field, instantaneously presenting relevant information. As user interface hardware undergoes a dramatic shift in the next decade, these software capabilities will only explode in development and use.
Gazing out your window at a cloud will unlock interactive information about the water cycle and climate science. Walking past an old building, you might effortlessly learn about its history dating back to the sixteenth century. I often discuss information abundance, but it is data’s accessibility that will soon drive knowledge abundance.
AR will enable on-the-job training at far lower costs in almost any environment, from factories to hospitals.
Smart glasses are already beginning to guide manufacturing plant employees as they learn how to assemble new equipment. Retailers stand to decimate the time it takes to train a new employee with AR tours and product descriptions.
And already, automotive technicians can better understand the internal components of a vehicle without dismantling it. Jaguar Land Rover, for instance, has recently implemented Bosch’s Re’flekt One AR solution. Training technicians with “x-ray” vision, the AR service thereby allows them to visualize the insides of Range Rover Sport vehicles without removing their dashboards.
In healthcare, medical students will be able to practice surgeries on artificial cadavers with hyper-realistic AR displays. Not only will this allow them to rapidly iterate on their surgical skills, but AR will dramatically lower the cost and constraints of standard medical degrees and specializations.
Meanwhile, sports training in simulators will vastly improve with advanced AR headset technology. Even practicing chess or piano will be achievable with any tabletop surface, allowing us to hone real skills with virtual interfaces.
As with most tasks, AI’s convergence with AR glasses will allow us to outsource all the most difficult (and least enjoyable) decisions associated with travel, whether finding the best restaurants or well-suited local experiences.
But perhaps one of AR’s more sophisticated uses (already rolling out today) involves translation. Whether you need to decode a menu or access subtitles while conversing across a language barrier, instantaneous translation is about to improve exponentially with the rise of AI-powered AR glasses. Even today, Google Translate can already convert menu text and street signs in real time through your smartphone.
As I explored last week, manufacturing presents the nearest-term frontier for AR’s commercial use. As a result, many of today’s leading headset companies—including Magic Leap, Vuzix, and Microsoft—are seeking out initial adopters and enterprise applications in the manufacturing realm.
Targeting the technology for simulation purposes, Airbus launched an AR model of the MRH-90 Taipan aircraft just last year, allowing designers and engineers to view various components, potential upgrades, and electro-optical sensors before execution. Saving big on parts and overhead costs, Airbus thereby gave technicians the opportunity to make important design changes without removing their interaction with the aircraft.
(2) Supply chain optimization:
AR guidance linked to a centralized AI will also mitigate supply chain inefficiencies. Coordinating moving parts, eliminating the need to hold a scanner at each checkpoint, and directing traffic within warehouses will vastly improve workflow.
After initially implementing AR “vision picking” in 2015, leading supply company DHL recently announced it would continue to use the newest Google smart lens in warehouses across the world. Or take automotive supplier ZF, which has now rolled out use of the HoloLens in plant maintenance.
(3) Quality assurance & accessible expertise:
AR technology will also play a critical role in quality assurance, as it already does in Porsche’s assembly plant in Leipzig, Germany. Whenever manufacturers require guidance from engineers, remote assistance is effectively no longer remote, as equipment experts guide employees through their AR glasses and teach them on the job.
Transportation & Navigation
(1) Autonomous vehicles:
To start, Nvidia’s Drive platform for Level 2+ autonomous vehicles is already combining sensor fusion and perception with AR dashboard displays to alert drivers of road hazards, highlight points of interest, and provide navigation assistance.
And in our current transition phase of partially autonomous vehicles, such AR integration allows drivers to monitor conditions yet eases the burden of constant attention to the road. Along these lines, Volkswagen has already partnered with Nvidia to produce I.D. Buzz electric cars, set to run on the Drive OS by 2020. And Nvidia’s platform is fast on the move, having additionally partnered with Toyota, Uber, and Mercedes-Benz. Within just the next few years, AR displays may be commonplace in these vehicles.
We’ve all seen (or been) that someone spinning around with their smartphone to decipher the first few steps of a digital map’s commands. But AR is already making everyday navigation intuitive and efficient.
Google Maps’ AR feature has already been demoed on Pixel phones: instead of staring at your map from a bird’s eye view, users direct their camera at the street, and superimposed directions are immediately layered virtually on top.
Not only that, but as AI identifies what you see, it instantaneously communicates with your GPS to pinpoint your location and orientation. Although a mainstream rollout date has not yet been announced, this feature will likely make it to your phone in the very near future.
We got our first taste of AR’s real-world gamification in 2016, when Nintendo released Pokémon Go. And today, the gaming app has now surpassed 1 billion downloads. But by contrast to VR, AR is increasingly seen as a medium for bringing gamers together in the physical world, encouraging outdoor exploration, activity, and human connection in the process.
And in the recently exploding eSports industry, AR has the potential to turn player’s screens into live action stadiums. Just this year, the global eSports market is projected to exceed US$1.1 billion in revenue, and AR’s potential to elevate the experience will only see this number soar.
Many of today’s most popular AR apps allow users to throw dinosaurs into their surroundings (Monster Park), learn how to dance (Dance Reality), or try on highly convincing virtual tattoos (InkHunter).
And as high-definition rendering becomes more commonplace, art will, too, grow more and more accessible.
Magic Leap aims to construct an entire “Magicverse” of digital layers superimposed on our physical reality. Location-based AR displays, ranging from art installations to gaming hubs, will be viewable in a shared experience across hundreds of headsets. Individuals will simply toggle between modes to access whichever version of the universe they desire. Endless opportunities to design our surroundings will arise.
Apple, in its own right, recently announced the company’s [AR]T initiative, which consists of floating digital installations. Viewable through [AR]T Viewer apps in Apple stores, these installations can also be found in [AR]T City Walks guiding users through popular cities, and [AR]T Labs, which teach participants how to use Swift Playgrounds (an iPad app) to create AR experiences.
And at the recent Siggraph Conference in Los Angeles, Magic Leap introduced an AR-theater hybrid called Mary and the Monster, wherein viewers watched a barren “diorama-like stage” come to life in AR.
Source: Venture Beat.
While audience members shared the common experience like a traditional play, individuals could also zoom in on specific actors to observe their expressions more closely.
Say goodbye to opera glasses and hello to AR headsets.
While AR headset manufacturers and mixed reality developers race to build enterprise solutions from manufacturing to transportation, AR’s use in consumer products is following close behind.
Magic Leap leads the way in developing consumer experiences we’ve long been waiting for, as the “Magicverse” of localized AR displays in shared physical spaces will reinvent our modes of connection.
And as AR-supportive hardware is now built into today’s newest smartphones, businesses have an invaluable opportunity to gamify products and immerse millions of consumers in service-related AR experiences.
Even beyond the most obvious first-order AR business cases, new industries to support the augmented world of 2030 will soon surge in market competition, whether headset hardware, data storage solutions, sensors, or holograph and projection technologies.
Jump on the bandwagon now— the future is faster than you think!
Board of Directors | Board of Advisors | Strategic Leadership
Please keep me in mind as your Executive Coach, openings for Senior Executive Engagements, and Board of Director openings. If you hear of anything within your network that you think might be a positive fit, I’d so appreciate if you could send a heads up my way. Email me: Cliff@InvestmentCapitalGrowth.com or Schedule a call: Cliff Locks
#BoardofDirectors #BoD #artificialintelligence #AI #innovation #IoT #virtualreality #vr #AR #augmentedreality #HR #executive #business #CXO #CEO #CFO #CIO #BoardofDirectors #executive #success #work #follow #leadership #Engineering #corporate #office #Biotech #Cleantech #CAD #entrepreneur #coaching #businessman #professional #excellence #development #motivation Contributors: Peter Diamandis and Clifford Locks #InvestmentCapitalGrowth
Five year forecast for transportation and energy, each is poised to disrupt major players and birth entirely new business models
Five year forecast for transportation and energy, each is poised to disrupt major players and birth entirely new business models
On the heels of energy abundance, we are additionally witnessing a new transportation revolution, which sets the stage for a future of seamlessly efficient travel at lower economic and environmental costs. In just five days, the Sun provides Earth with an energy supply exceeding all proven reserves of oil, coal, and natural gas. Capturing just 1 part in 8,000 of this available solar energy would allow us to meet 100 percent of our energy needs. This article includes a discussion of Hydrogen, which can be used both as a feedstock and an energy carrier.
Autonomous cars drive 1 billion miles on U.S. roads. Then 10 billion.
Alphabet’s Waymo alone has already reached 10 million miles driven in the U.S. The 600 Waymo vehicles on public roads drive a total of 25,000 miles each day, and computer simulations provide an additional 25,000 virtual cars driving constantly. Since its launch in December, the Waymo One service has transported over 1,000 pre-vetted riders in the Phoenix area.
With more training miles, the accuracy of these cars continues to improve. Since last year, Waymo has decreased its disengagement rate by 50 percent, now achieving a rate of just one human intervention per 11,017 self-driven miles. Similarly, GM Cruise has improved its disengagement rate by 321 percent since last year, trailing close behind with only one human intervention per 5,025 miles self-driven.
- Autonomous taxis as a service in top 20 U.S. metro areas.
Along with its first quarterly earnings released last week, Lyft recently announced that it would expand its Waymo partnership with the upcoming deployment of 10 autonomous vehicles in the Phoenix area. While individuals previously had to partake in Waymo’s “early rider program” prior to trying Waymo One, the Lyft partnership will allow anyone to ride in a self-driving vehicle without a prior NDA.
Strategic partnerships will grow increasingly essential between automakers, self-driving tech companies, and rideshare services. Ford is currently working with Volkswagen, and Nvidia now collaborates with Daimler (Mercedes) and Toyota. Just last week, GM Cruise raised another $1.15 billion at a $19 billion valuation as the company aims to launch a ride-hailing service this year.
They’re going to come to the Bay Area, Los Angeles, Houston, other cities with relatively good weather. In every major city within five years in the U.S. and in some other parts of the world, you’re going to see the ability to hail an autonomous vehicle as a ride.
- Cambrian explosion of vehicle formats.
If you look today at the average ridership of a taxi, a Lyft, or an Uber, it’s about 1.1 passengers plus the driver. So, why do you need a large four-seater vehicle for that?
Small electric and Hydrogen, autonomous pods that seat as few as two people will begin to emerge, satisfying the majority of ride-hailing demands we see today. At the same time, larger communal vehicles will appear, such as Uber Express, that will undercut even the cheapest of transportation methods — buses, trams and the like. Finally, last-mile scooter transit (or simply short-distance walks) might connect you to communal pick-up locations.
By 2024, an unimaginably diverse range of vehicles will arise to meet every possible need, regardless of distance or destination.
- Drone delivery for lightweight packages in at least one U.S. city.
Wing, the Alphabet drone delivery startup, recently became the first company to gain approval from the Federal Aviation Administration (FAA) to make deliveries in the U.S. Having secured approval to deliver to 100 homes in Canberra, Australia, Wing additionally plans to begin delivering goods from local businesses in the suburbs of Virginia.
The current state of drone delivery is best suited for lightweight, urgent-demand payloads like pharmaceuticals, thumb drives, or connectors. And as Amazon continues to decrease its Prime delivery times—now as speedy as a one-day turnaround in many cities—the use of drones will become essential.
- Robotic factories drive onshoring of U.S. factories… but without new jobs.
The supply chain will continue to shorten and become more agile with the re-onshoring of manufacturing jobs in the U.S. and other countries. Naam reasons that new management and software jobs will drive this shift, as these roles develop the necessary robotics to manufacture goods. Equally as important, these robotic factories will provide a more humane setting than many of the current manufacturing practices overseas.
Top 5 Energy Breakthroughs (2019-2024)
- First “1 cent per kWh” deals for solar and wind signed.
Ten years ago, the lowest price of solar and wind power fell between 10 to 12 cents per kilowatt hour (kWh), over twice the price of wholesale power from coal or natural gas.
Today, the gap between solar/wind power and fossil fuel-generated electricity is nearly negligible in many parts of the world. In G20 countries, fossil fuel electricity costs between 5 to 17 cents per kWh, while the average cost per kWh of solar power in the U.S. stands at under 10 cents.
Spanish firm Solarpack Corp Technological recently won a bid in Chile for a 120 MW solar power plant supplying energy at 2.91 cents per kWh. This deal will result in an estimated 25 percent drop in energy costs for Chilean businesses by 2021.
We will see the first unsubsidized 1.0 cent solar deals in places like Chile, Mexico, the Southwest U.S., the Middle East, and North Africa, and we’ll see similar prices for wind in places like Mexico, Brazil, and the U.S. Great Plains.
- Solar & Wind will reach >15 percent of U.S. electricity, and begin to drive all growth.
Just over 8 percent of energy in the U.S. comes from solar and wind sources. In total, 17 percent of American energy is derived from renewable sources, while a whopping 63 percent is sourced from fossil fuels, and 17 percent from nuclear.
Last year in the U.K., twice as much energy was generated from wind than from coal. For over a week in May, the U.K. went completely coal-free, using wind and solar to supply 35 percent and 21 percent of power, respectively. While fossil fuels remain the primary electricity source, this weeklong experiment highlights the disruptive potential of solar and wind power that major countries like the U.K. are beginning to emphasize.
Solar and wind are still a relatively small part of the worldwide power mix, only about 6 percent. Within five years, it’s going to be 15 percent in the U.S. and more than close to that worldwide, “We are nearing the point where we are not building any new fossil fuel power plants.”
- It will be cheaper to build new solar/wind/batteries than to run on existing coal.
Last October, Northern Indiana utility company NIPSCO announced its transition from a 65 percent coal-powered state to projected coal-free status by 2028. Importantly, this decision was made purely on the basis of financials, with an estimated $4 billion in cost savings for customers. The company has already begun several initiatives in solar, wind, and batteries.
NextEra, the largest power generator in the U.S., has taken on a similar goal, making a deal last year to purchase roughly 7 million solar panels from JinkoSolar over four years. Leading power generators across the globe have vocalized a similar economic case for renewable energy.
- ICE car sales have now peaked. All car sales growth will be electric and hydrogen.
While electric vehicles (EV) have historically been more expensive for consumers than internal combustion engine-powered (ICE) cars, EVs are cheaper to operate and maintain. The yearly cost of operating an EV in the U.S. is about $485, less than half the $1,117 cost of operating a gas-powered vehicle.
As Hydrogen fueling stations continue to expand, especially with the Evolve onsite technology, the upfront costs of Hydrogen vehicles will decline until a long-term payoff calculation is no longer required to determine which type of car is the better investment. Hydrogen will become the obvious choice.
The Hydrogen Council envisages that by 2030, 230–250TWh of surplus solar and wind energy could be converted to hydrogen. It suggests hydrogen could provide almost a fifth of total energy consumed by 2050, and cut carbon emissions by about six billion tonnes compared to today. Moreover, it will tackle the air pollution that is the scourge of so many industrialized nations.
Many experts believe that internal combustion engine (ICE)-powered vehicles peaked worldwide in 2018 and will begin to decline over the next five years, as has already been demonstrated in the past 5 months. At the same time, EVs and Hydrogen vehicles are expected to quadruple their market share to 1.6 percent this year.
- New storage technologies will displace Li-ion batteries for tomorrow’s most demanding applications.
Lithium ion batteries have dominated the battery market for decades, I anticipates new storage technologies will take hold for different contexts. Flow batteries and Hydrogen production, which can collect and store solar and wind power at large scales, will supply our electrical grids.
Major advancements in transportation and energy technologies will continue to converge over the next five years. A case in point, Tesla’s recent announcement of its “robotaxi” fleet exemplifies the growing trend towards joint priority of sustainability and autonomy.
On the connectivity front, 5G and next-generation mobile networks will continue to enable the growth of autonomous fleets, many of which will soon run on renewable energy sources. This growth demands important partnerships between energy storage manufacturers, automakers, self-driving tech companies, and ridesharing services.
In the eco-realm, increasingly obvious economic advantages will catalyze consumer adoption of autonomous hydrogen and electric vehicles. In just five years, I predict that self-driving rideshare services will be cheaper than owning a private vehicle for urban residents. And by the same token, plummeting renewable, including clean hydrogen production energy costs will make these fuels far more attractive than fossil fuel-derived from electricity.
Today, Americans spend over 84 billion hours a year behind the steering wheel. Yet as universally optimized AI systems cut down on traffic, aggregate time spent in vehicles will decimate, while hours in your (or not your) car will be applied to any number of activities as autonomous systems steer the way. All the while, sharing an electric vehicle will cut down not only on your carbon footprint but on the exorbitant costs swallowed by your previous SUV. How will you spend this extra time and money? What new natural resources will fuel your everyday life? Please share your thoughts in the comments.
Please keep me in mind as your Executive Coach, openings for Senior Executive Engagements, Advisory Board, and Board of Director openings. If you hear of opportunities within your network that you think might be a positive fit, I’d so appreciate if you could send a heads up my way. Email me: Cliff@InvestmentCapitalGrowth.com or Schedule a call: Cliff Locks
#innovation #Venture #Executive #CXO #CEO #CFO #BofD Contributors: Ramez Naam and Peter Diamandis