The $13 Trillion Treasure Chest - Insights from AWE 2024

Flying into sunny Long Beach, California, last week, I had a blast attending the 15th annual AWE , an event filled with groundbreaking innovations, insightful presentations, and invaluable networking opportunities. It was thrilling to witness firsthand the latest advancements in XR technology and their diverse applications across industries and to showcase some of Aequilibrium ’s contributions.

We have long championed the transformative power of XR (Extended Reality), having worked closely with sectors such as financial services, gaming, and more. This year’s AWE reinforced our commitment as industries from entertainment to technology, government, and retail demonstrated their experiences and enthusiasm for XR. Over the 3-day event, we saw XR move beyond its origins in gaming to reveal its potential in enhancing employee training, customer engagement, and operational efficiency through various panel discussions and presentations.

While at AWE 2024, we strengthened our connections with key partners at the forefront of XR innovation. We connected with Nicolae Sterescu and Kelley Dodd from Unity , and Ruby Anderson from TD SYNNEX North America . Unity’s impact on the industrial metaverse is profound, providing robust tools and platforms that revolutionize how industries visualize and interact with complex data and systems. We also engaged with 微软 and experienced a demo of Mesh, which connects the workforce with avatars and immersive 3D spaces, enhancing collaboration and productivity. Additionally, we met with Peter Wittig , Director of Customer Experience and Co-founder, and Ryan Chapman , CEO of Motive.io , whose expertise in XR training solutions aligns perfectly with our vision for the future of employee development.?

Beginning with Jamie Keane and Anand Dass ’s presentation from Meta on Expanding All Your Worlds with Meta: Work, Education, Your Whole Lifestyle, we dive into Meta’s vision for mixed reality. Have you ever been in a work environment that lacked growth? Education? and Development? How do we improve that? We’ve asked ourselves those questions, and it appears Meta has too. Sharing Aequilibrium’s vision, Keane and Dass speak more about the commitment to integrating XR into daily operations and learning environments. It underscores the potential for similar applications across industries, where immersive training and customer interaction can significantly improve service delivery and employee performance. This is supported through 辉瑞 ’s XR and AI integration. On behalf of Pfizer, Georgios Chantziaras , Nicholas Hockley , and Sachin Sharma demonstrated how these tools can optimize manufacturing processes and enhance workforce training. Their innovative use of VR has allowed thousands of operators to be trained during the COVID-19 pandemic, exemplifying how XR can be leveraged in highly regulated industries. This approach can be adapted across various sectors for onboarding and compliance training, ensuring employees are well-prepared and engaged. Their detailed exploration of Unleashing the Power of Gen AI and XR at Pfizer highlighted the practical applications of XR in improving efficiency and productivity.

Beyond education or hard skill training, we shouldn't overlook the value of empathetic training. A panel discussion featuring Nanea Reeves from TRIPP, Inc. , Moritz Baier-Lentz ?? z (@Lightspeed), and Anand Dass (@Meta) explored the intersection of emotions, AI, and spatial computing. Their session "Empathic Interfaces: Exploring the Intersection of Emotions, AI & Spatial Computing" delved into how emotional intelligence in technology can create more personalized and effective user experiences. What sets an A player apart from the average is their ability to be empathetic. After all, people buy from people. With AI capable of interpreting and responding to emotional cues, this is particularly valuable across industries where understanding customer emotions can lead to better service and increased customer satisfaction.

In addition to its many applications, XR technology makes waves in mental preparedness and emergency response training. Imagine stepping into a lifelike simulation that prepares you for critical situations—this is exactly what augmented reality achieves at the Oak Ridge Enhanced Technology and Training Center (ORETTC). As John R. Kennedy and Mary Lin shared, AR revolutionizes training by creating vivid, realistic scenarios that sharpen readiness and quicken response times in high-stress environments.

沃尔玛 , too, has harnessed the power of XR to tackle a unique challenge: prepping their team for the frenzy of peak shopping periods like Black Friday. Mohsen Khurasany and Franky Summers enthusiastically described how collaborating with VR experts has allowed Walmart to develop immersive training programs. These programs prepare employees for the hectic realities of the sales floor and deliver impressive returns on investment. This innovative approach transforms employee training from a routine task into an engaging and effective experience.

Moreover, the scalability of VR training is nothing short of remarkable. Take the @American Red Cross, for example, which trains 300,000 lifeguards each year using VR. @Lynn Welch from @Lucid Reality Labs highlighted how their VR lifeguard training program ensures consistent, high-quality instruction across numerous locations, setting a new skill acquisition and certification standard. The implications of this are vast—similar VR training methods can be tailored for various industries, from real estate to retail, ensuring that employees everywhere receive top-notch, uniform training.

The consensus at AWE was clear: XR is not just the future but the evolution of the internet. Major players like Apple envision it as the next revolution in spatial computing, a technology poised to provide unparalleled experiences for staff and customers. With Citi estimating XR as a $13 trillion opportunity, its potential is immense, transforming everything from training programs to customer interactions. Embracing this innovative technology is no longer optional—it’s essential. By integrating VR and AR into training, companies like Pfizer and Lucid Reality Labs craft immersive, hands-on learning experiences that surpass traditional methods, enhancing employee engagement and skill retention. XR offers scalable training solutions that are accessible from anywhere, revolutionizing how employees learn and grow. On the customer front, AI complements XR by delivering personalized, empathetic interactions. Imagine your business intuitively responding to each customer's needs and emotions, building stronger relationships and fostering loyalty. Together, XR and AI can dramatically improve operational efficiency, optimizing processes from manufacturing to customer service. As demonstrated by Pfizer’s VR training and Meta’s vision for mixed reality, integrating these technologies into your workflow boosts productivity, reduces costs, and opens new growth avenues. At Aequilibrium , we believe in harnessing the power of XR and AI to shape the future of business. Join us to enhance employee satisfaction and customer engagement and lead your industry.

At Aequilibrium , we drive digital transformation and innovation across multiple industries. Our VR+AI solutions have significantly improved various organizations' onboarding and training experience, reducing time and costs while boosting employee engagement and retention. Our commitment to creating the workforce of the future focuses on enhancing collaboration, productivity, and training through immersive technologies. For more information or to schedule a consultation, please contact us at [email protected] or visit our booth at the next XR event. If you’re interested in learning what a partnership with us looks like, we had the pleasure of joining an interview with one of our partners, Ent Credit Union . Click here to hear more about it!