Home Bank accounts
Credit cards
Savings and investments
Home Banking Solutions
Credit Cards
Going Further
Tips and Tools
Wealth Management

Virtual Reality: New Technology for Entrepreneurs

08 December 2016 by National Bank

Just as we no longer refer to digital communication as “new media,” many businesses have moved on from the notion of “going digital” in favour of firmly embedding these technologies within their operations and processes.

These are often innovative, forward-looking companies that constantly explore new IT opportunities and incorporate the notion of trial and error within their practices. Virtual reality is one such opportunity.

What is it?

What is virtual reality? Virtual reality is a technology that replicates an environment (real or imaginary) and simulates the user’s physical presence so they can interact with the setting. The user is usually equipped with goggles and headphones for a completely immersive audiovisual experience.

Potential uses

Virtual reality has many uses in a wide range of fields. In tourism, for example, it allows potential clients to experience a destination before buying their tickets. In real estate, potential buyers can visit a property virtually, while extremely realistic training programs and simulations can be created for industrial purposes. In short, there are many different types of environments that can be replicated through virtual reality.

Production costs

At first glance, production costs can be a deterrent when it comes to experimenting with cutting‑edge technologies like virtual reality, but many are surprised to learn the types of affordable environments and experiences that can be created.

Virtual reality is a relatively new technology and its potential remains to be fully exploited. However, this is the perfect time to experiment, test and develop various environments and experiences, and discover its uses within a wide range of sectors and industries.

Legal disclaimer

Any reproduction, in whole or in part, is strictly prohibited without the prior written consent of National Bank of Canada.

The articles and information on this website are protected by the copyright laws in effect in Canada or other countries, as applicable. The copyrights on the articles and information belong to the National Bank of Canada or other persons. Any reproduction, redistribution, electronic communication, including indirectly via a hyperlink, in whole or in part, of these articles and information and any other use thereof that is not explicitly authorized is prohibited without the prior written consent of the copyright owner.

The contents of this website must not be interpreted, considered or used as if it were financial, legal, fiscal, or other advice. National Bank and its partners in contents will not be liable for any damages that you may incur from such use.

This article is provided by National Bank, its subsidiaries and group entities for information purposes only, and creates no legal or contractual obligation for National Bank, its subsidiaries and group entities. The details of this service offering and the conditions herein are subject to change.

The hyperlinks in this article may redirect to external websites not administered by National Bank. The Bank cannot be held liable for the content of external websites or any damages caused by their use.

Views expressed in this article are those of the person being interviewed. They do not necessarily reflect the opinions of National Bank or its subsidiaries. For financial or business advice, please consult your National Bank advisor, financial planner or an industry professional (e.g., accountant, tax specialist or lawyer).

Tags :