As we’ve mentioned previously, augmented reality (AR) has the potential to shake up the retail/e-commerce industry by letting users experience products digitally, in 3D, before purchasing. With the introduction of AR Quick Look in Apple’s iOS 12 update, e-commerce giant Shopify (NYSE: SHOP) is using the technology to make it easier for users to visualize goods on the platform. AR Quick Look lets users view objects in AR through the Safari web browser, without requiring a user to download a standalone app.
Following industry trends can sometimes make us forget about the truly amazing, immersive nature of augmented and virtual reality. With that in mind, here is a quick round-up of recent demos and other videos showcasing what the newest technology has to offer. Varjo - Mixed Reality Real-time Test Shoot Finnish company Varjo is a creator of cutting edge mixed reality (XR) glasses for enterprise applications.
Tech news outlet, Ars Technica, just published an excellent article on how Apple’s ARKit 2 works and why the company is betting on augmented reality technology as a future growth vertical. Apple has essentially created a set of developer’s tools that drastically simplifies the process for creating AR-enabled applications. The original ARKit launched in 2017 and as Apple puts it, “combines motion tracking, scene capture, advanced scene processing, and display conveniences to simplify the task of building an AR experience.
Magic Leap, a major AR startup backed by investments from Alphabet (NASDAQ: GOOG), Alibaba (NYSE: BABA), and others, gave guidance for a summer launch of its highly anticipated AR headset. The company has spent 4 years developing the technology and has shied away from giving early demonstrations, however the company offered a brief video overview of the technology in action (see below). [embed]https://www.
Augmented reality (AR) advertising is getting it’s first major platform. Facebook (NASDAQ: FB) announced companies will now be able to showcase AR ads in the Facebook News Feed. Users will be given the option to virtually “try on” merchandise, such as sunglasses, by incorporating the user’s face in the ad.
Bank of America Merrill Lynch analyst Wamsi Mohan recently announced new revenue forecasts for Apple’s (NASDAQ: AAPL) AR initiatives. Mohan believes premium AR apps and associated incremental device sales could add an additional $8 billion in revenue for the company. If Apple were to pursue the much-rumored AR eyeware product, Mohan see his revenue forecast rising to $11 billion.