Virtual Reality and Augmented Reality are powerful technologies, but to develop an effective strategy, businesses need to carefully consider their goals and how these technologies can help achieve them. They need to understand the strengths of each technology, such as the fact that VR is best suited for immersive experiences, while AR overlays digital information and virtual objects onto the real world.

A major way that VR and AR are reshaping the corporate world is through the creation of shared virtual spaces, often referred to as the Metaverse. The Metaverse will be a collection of virtual worlds that allows individuals to interact with each other, with brands and with NPCs. Whilst still in its early stages, the Metaverse has the potential to fundamentally change the way we do business and interact with each other.

While the opportunities VR and AR offer are extensive, there are challenges to consider in the process of implementation, such as hardware choice, and the resources and skills required to roll-out and maintain this technology. To overcome these challenges, businesses need to be strategic in their planning and execution, and bring in partners with the right experience and expertise.