Many companies in the finance industry are embracing modern technologies, including virtual and augmented reality. While there are many examples of financial organizations warming up to virtual reality, augmented reality applications have been less popular. This is partly because the technology has only been showcased in niche sectors with little or nothing to do with finance, such as gaming and military training. Nonetheless, there are other examples where augmented reality in finance will have an impact on the industry.
Enabling Augmented Reality Data Visualization
Visualizing data trends is a critical tool for financial traders since it makes conveying complex business patterns more intuitive. This is handy given that the decisions that financial analysts have to make on an hourly basis are getting more complicated. It can be attributed to the increasing competition in every sector, expanded legal frameworks, and the international nature of modern business.
For the past few decades, analysts have relied on complex software applications to manage financial information. They’ve been utilizing the 2D and 3D rendering engines baked into such programs to produce visually appealing charts and graphs. All this was accomplished via traditional computing mechanisms where an analyst sat in front of a computer, input the commands, scanned a file, and received output on a screen.
Augmented reality in finance allows analysts to use their surroundings as computing peripherals. It also takes data capture to a new level. One of the leading global companies in finance that has partially invested in AR-based data capture includes Salesforce, a Fidelity Investment subsidiary. With AR, financial analysts can capture form data in real-time and watch as it is transformed into various formats. As an illustration, the technology means that different types of charts and graphs can be generated by simply glancing at a tabular structure through an appropriate AR gadget such as Oculus Rift. With such advanced visualization techniques, investors can make critical decisions faster while collaborating remotely since modern AR accommodates networking features.