Kelly Goetsch, chief product officer at commercetools, is convinced that when AR and VR come of age, the impact of the technologies will be comparable to the internet boom of 1995

"AR and VR could have as big an impact on society as the internet; that's the bold claim from Kelly Goetsch, chief product officer at commercetools.

Virtual reality provides a totally immersive experience, transporting people - as the internet does - wherever they want to go. But, VR has less economic traction than augmented reality. AR can provide real, tangible value to consumers and businesses very quickly and very easily; again, like the internet, with the advent of e-commerce and personalisation: think Minority Report..."

PwC's head of AR and VR, Jeremy Dalton, says that the augmented reality market will be larger in the long run than virtual reality

"VR and AR are far from mature technologies. In fact, organisations, such as PwC, are in the process of helping businesses understand their value and how they should use them in their industries.

Even the World Economic Forum has formed the Global Future Council on Virtual and Augmented Reality, in recognition of the impact they could play. Here, industry and academic figures pool their collective resources together to try and improve the understanding of the technologies and how they can help society and the world at large; through improving the quality of healthcare and education, for example.

But, what about the business applications?..."

A recent validation study conducted by the David Geffen School of Medicine indicates that virtual reality could provide significant benefits to surgical training

"The study, which was financed by the virtual reality surgical training startup Osso VR, indicates that participants who used the company's training methods improved their overall surgical performance by 230%.

That's a huge number, but research into the efficacy of virtual reality training is still early.

Still, the 'Randomized, Controlled Trial of a Virtual Reality Tool to Teach Surgical Technique for Tibial Shaft Fracture Intramedullary Nailing' takes the first step at providing evidence to back up the long-held assertions that learning in virtual reality has benefits that accrue in real-world scenarios..."

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