Oculus Rift – “Beyond Gaming” VR Potential

VR - Enterprise Applications

As anticipated, much of the excitement around Oculus Rift VR has centered around VR based gaming experiences. Gaming is definitely the segment where the core VR consumers exist today. This is true for Oculus, HTC-Vive and Playstation VR.

There is however one aspect in the VR space that has not received as much coverage recently. Oculus had established a presence this year in the enterprise side of VR applications. This is also an unique positioning strategy for Oculus compared to the other headset offerings. There were two interesting enterprise initiatives that were in flight.

The first of the projects was championed by Fidelity labs and was an attempt on using virtual reality to engage users in the world of Finance via a medium of data visualization. The initiative was called Stockcity and was showcased at a Traders trade show in November of 2014. In Fidelity’s prototype virtual environment—which it says is the first financial services app written for Oculus—stocks are represented as office towers and lumped together in sector “neighborhoods.” The buildings’ footprints are shaped by trading volume and their rooftops are red or green depending on changes in price.

With $2 trillion under management, Fidelity wants to get ahead of how new interfaces might be used in the future. This is a definitely a start as it pertains to using Oculus for enterprise applications.

The other initiative where Oculus Rift was leveraged in data visualization was in the pharmaceutical vertical. The project was sponsored at Biogen and initial project work started in March of this year. Biogen has also been a company that has always partnered up with the tech giants in pushing the boundaries of technology when it comes to medical/pharma applications. Earlier this year it announced a project with Google X to study outside factors that might contribute to the progression of multiple sclerosis (MS). Google and Biogen planned on using wearable sensors, software, and data analysis tools to collect and analyze data from people who have MS. The companies aim to explore why MS progresses differently in each patient.

Given the appeal of VR visualization applications in the enterprise world and this initial work with Oculus, it will be interesting to see if Facebook follows the path of offering Enterprise applications by leveraging Oculus Rift Platform. If it were to happen, It does open up an entirely new economic value chain for Facebook as a result of the Oculus acquisition.

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