How virtual reality transforms the professionals and transactions of everyone else

The telework boom has given some virtual reality (VR) companies an incentive to try new business methods.

Platforms are evolving rapidly and companies are in a position to sell new technologies, which are not yet big companies, but many believe they will soon.

Glimpse Group is a subsidiary of several different RV companies that use real world applications. Launched last month, the company has eight RV groups in its portfolio that include telemedicine, entertainment and learning programs for schools and businesses.

It also focuses on stock trading through a business called D6VR. This is what former Morgan Stanley analyst Andy Maggio told CNBC in an interview: “I believe that virtual reality will be the most innovative technology of our lives.” Maggio admits the technology is not ready for prime time, but says the quality of the technology is improving rapidly. “The resolution is twice that of five years ago, the hardware is advancing very fast, it’s lightweight and easy to use,” he said.

Several financial companies have experimented with this technology, but no financial company plans to quickly dismantle the commercial physical floor.

Lyron Bentovim, a former hedge fund manager and CEO of Glimpse Group, is not surprised by the pace. “Wall Street adaptation is slow, but this is the future of commerce,” he said.

Bentovim claims that retailers usually see up to 6-8 screens in physical space. “You’re limited,” he said. With RV, you can view and manipulate dozens of screens and capture your data based on it. “You can see traders observe multiple trends and immerse themselves in the data without being forced to physically restrict,” he said.

The group Glimpse tries to call itself with spaces, but it is not the first thing to enter. FlexTrade, a British company specializing in the creation of software for financial companies, presented its first RV program for traders at a 2017 conference.

“Traders don’t have enough real estate on their tables,” said Andy Mahony, general manager. “We can do it better than keyboards, screens and mice.”

Andy Mahoney of FlexTrade presents augmented reality at a conference for financial professionals.

Courtesy: Flextrade

In a round of testing, Mahony discovered that full-fledged virtual reality was so disoriented that it caused disease to traders. However, with the new extensions, the problem is reduced.

FlexTrade’s R&D team performs augmented reality testing that incorporates a set of data, graphics, and information into real-world configurations so users can see things simultaneously in both the real and virtual worlds. I have provided it to my clients.

“Customers like it, but I don’t think we’re there yet … but we’ll get there soon,” Mahony said.

“The real advantage is the ability to visualize data in multiple dimensions,” said Brennan McTernan, D6’s chief technology officer.

He believes there are three areas in which RV is increasingly valuable to the financial industry.

The first is for marketers, which allows them to step out of physical space and customize their data and surveys. Second, you can view your data in 3D, control its size and color, and overlay it on other data. Third, “financial advisors can help clients tell better stories and better tell their data in virtual reality.”

Space executives recognize that wearing headphones for several hours at a time can be uncomfortable and disorienting. But they also argue that RV allows clients and financial professionals to work without hassle for at least part of the day.

As for hiring, Glimpse’s team is willing to wait patiently. “There was a time when no one had a computer on their desk and things changed quickly,” CEO Bentovim said.

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