Mary asked in Social ScienceEconomics · 8 months ago

Virtual Reality is an emerging industry, describe how the industry structure affects competition, innovation, and emergence.?

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  • 8 months ago
    Favourite answer

    We stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another. In its scale, scope, and complexity, the transformation will be unlike anything humankind has experienced before. We do not yet know just how it will unfold, but one thing is clear: the response to it must be integrated and comprehensive, involving all stakeholders of the global polity, from the public and private sectors to academia and civil society.

    The First Industrial Revolution used water and steam power to mechanize production. The Second used electric power to create mass production. The Third used electronics and information technology to automate production. Now a Fourth Industrial Revolution is building on the Third, the digital revolution that has been occurring since the middle of the last century. It is characterized by a fusion of technologies that is blurring the lines between the physical, digital, and biological spheres.

    There are three reasons why today’s transformations represent not merely a prolongation of the Third Industrial Revolution but rather the arrival of a Fourth and distinct one: velocity, scope, and systems impact. The speed of current breakthroughs has no historical precedent. When compared with previous industrial revolutions, the Fourth is evolving at an exponential rather than a linear pace. Moreover, it is disrupting almost every industry in every country. And the breadth and depth of these changes herald the transformation of entire systems of production, management, and governance.

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  • 3 months ago

    I believe Virtual Reality will have limited disruption potential. Because it completely removes the user from the real world, this will only be useful in particular lines of work. Augmented Reality, on the other hand, has a huge potential to change the way we do things.

    Virtual Reality will be limited to tasks that require maximum immersion, such as gaming, narratives, sales & creative work. These are the areas where it makes sense to completely remove reality, and to transport the user to a different location in order to evoke an emotional response. 

    Augmented Reality, however, is not confined to this criteria. Its not as immersive as Virtual Reality, but has infinitely more utility in being able to "augment" the tasks we are doing at work & in our everyday lives. For instance, being able to see navigation arrows guiding us to our destination. This would be much more intuitive than staring at a 2D map.

    Source(s): www.dreamcrafters.co
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  • Anonymous
    8 months ago

    virtual reality is an expensive delusional substitute for what we really want. how can you even call that virtual reality. its just a screen attached to your head.

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  • Anonymous
    8 months ago

    google "disruptors" and you will find your answer

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  • Oiy
    Lv 6
    8 months ago

    In economics, the newcomers mean just the monopoly has been broken. The average cost will shift downward.

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