The Second Digital Revolution Definition and Your VR Business Opportunities


Okay, my name is Scott Edden and I’m a partner
of Picher Partners here in Newcastle. And I’m really happy today to introduce to
you Tim Levy, who’s here to assist us on our journey to understand tech just that little
bit better. And try and give something back to our clients. Tim, welcome! Thank you! So the last 20 years, 20 plus years you’ve
been in that kind of tech space. You’ve seen a lot of change that’s happened. The birth of the Internet and the web and
moving through to the changes that are happening now. What do you see is that kind of, that next
thing in the tech industry? The web for me is this is the first big revolution
digitally and of course business now is completely lives on the web and we buy and sell and trade
and so forth all online. What’s interesting to me is that twice in
one lifetime which is kind of like two lightning strikes. I think there’s a second digital revolution
coming. For me, it’s the revolution of interacting
with technology from, moving from two to three dimensions. The fact is that two dimensional interaction
is actually not very intuitive for humans. These little flat screens and what have you
– they’re fantastic. But crikey, there you have to kind of get
used to it. Even typing on a two-dimensional keyboard
is kind odd right? Yeah, I understand. Three dimensions and of course we’re talking
virtual reality or augmented reality is so intuitive, so immersive when people put on
a headset especially for the first time and they say the quality level and how far it’s
come while they weren’t watching. mm-hmm
They are just amazed at how intuitive, how immersive it is. And then when you apply that to a business
outcome, they start thinking, this is gonna change everything!
mm-hmm Look I’ve tried VR gaming, it’s been fantastic. So VR’s really just for gamers, isn’t it? Yeah. It’s tempting to think that and certainly
a lot of the early momentum has been in the gaming space. But what’s actually happening is that, as
in same way that the internet started off as a gimmick and a fun toy. And then business sort of came on and that’s
when it really sort of took off. This is what’s happening at the moment in
VR. We’re in those early years. In Australia, if you’d look to get into VR
a year or two ago, you might have been spending four to six thousand dollars. There’s now a device in the market that costs
you about two to three hundred. It’s changing dramatically. But also the industries that are affected. There are the what I call Low-Hanging Fruit
Industries. The ones you can think about easily like architecture,
real estate, real estate development, engineering, where you can look it’s
apparent you think, listen. If I’m buying a house (Anyone in that design
space). Yeah, design space. Let’s say I’m in a kitchen let’s say and I
want to redesign the kitchen but I’ve got to draw it on a flat piece of paper that’s
hard, that’s difficult to make sense of but if I’m in VR and I’m in that kitchen and
I’m moving things around changing the tiles changing the colour, picking things up, moving
the fridge until I say that is just right. Hit a button, go back to the internet, order
placed and everything shows up ready to go in, you know, 48 hours, right? So you can see in those sorts of industries
that it’s an easy application and those who jump in first have the business advantage,
the unique proposition. But what people don’t necessarily see is how
VR is going to change big areas. The entire area of, for example, tourism is
going to change from this. The entire area of Training, Education – education
for schools and children. But of course education and training in businesses
too. But then anything to do with communication,
collaboration. So, very soon we’re going to be running an
event where we’re actually going to create some actions out of this. So, Tim’s going to speak, he’s going to give
you a good background on where all this fits and talk and demonstrate and bring some action
out of VR. You’re not going to be left hanging at the
end just thinking that’s a great discussion. You’re going to get to the end and you’re
going to have some actions to take away. Is there anything else that people can expect
from this this event? Yeah, look, I’ve been speaking to small and
large groups of CEOs for something like 25 years and the pet hate is going to do something
that’s a waste of time. What you need is to find speakers presentations
workshops where you get in get some new information, a new concept, get a good understanding. And in the workshop itself, figure out how
to apply it to your business and what action steps you can take next to make a bottom-line
difference to your business. That’s my intention, that’s my commitment
is to do that in this presentation. Tim, I’m an accountant and I move and excited. I’m looking forward to this. Thank you for your time today. But I’m really looking forward to catching
up shortly. Sounds great, thank you.

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