Latest Business News
Using VR in the Classroom and Workplace for Skill Development
VR in Education
Virtual reality (VR) technology is being increasingly used in classrooms and workplaces to enhance learning and skill development. This technology allows students and young professionals to immerse themselves in realistic virtual environments, providing them with hands-on experience and exposure to different scenarios. For example, VR headsets are being used in college classes and internship programs to simulate office environments and teach students about various aspects of work life, such as client meetings and marketing.
Enhancing Learning and Assessment
By using VR in education, students can visualize and experience different workplace scenarios before they enter the job market. Laura Bedalov, a customer success manager at talent research firm Cappfinity, emphasizes the benefits of VR for students: "They have the ability to see it before they go out and actually start looking for jobs." Additionally, VR can be used as a tool for managers to assess the skills of potential hires. By putting candidates through VR simulations, managers can measure skills like curiosity and collaboration, providing more valuable evidence than a traditional resume or interview can offer.
VR in the Workplace
Companies are also adopting VR technology to enhance training and employee development. For example, Cappfinity collaborated with Ernst & Young to create a program where interns use VR headsets to participate in fictional client meetings and simulated strategy development. They then deliver a final presentation in person, allowing managers to assess their skills and abilities.
Benefits and Challenges
While VR has proven to be an effective tool for skill development, there are still challenges to widespread adoption. One such challenge is affordability. However, Maurice Knightly, a lead specialist at UCD's Innovation Academy, states that the cost of VR headsets has significantly decreased, making them more accessible. Furthermore, as companies like Apple, Meta, and Microsoft invest in VR and augmented reality product development, the technology is likely to become more affordable and mainstream.
However, not everyone is sold on the idea of VR. A survey conducted by Piper Sandler found that only 4% of teenagers regularly use VR devices, and there are concerns about consumer demand for VR technology. Additionally, there are still skeptics within the industry, and companies like Meta have experienced financial losses in their VR ventures.
Despite these challenges, VR offers a unique and immersive learning experience, allowing students and professionals to make mistakes in a safe environment and learn from them without real-life consequences. As the technology continues to advance and become more accessible, VR could revolutionize education and workplace training, providing a valuable tool for skill development.
Conclusion: The Impact of VR on New Business
As VR technology continues to gain traction in education and the workplace for skill development, its potential impact on new businesses cannot be ignored. By leveraging VR as a tool for learning and assessment, new businesses can benefit in multiple ways.
One major advantage is the ability to provide immersive training experiences for employees. VR allows businesses to simulate real-world scenarios, enabling employees to practice and master crucial skills without the risks associated with actual situations. This immersive learning experience can not only accelerate skill development but also foster confidence and adaptability among employees, ultimately leading to improved performance in the workplace.
Moreover, for startup companies looking to recruit top talent, implementing VR in the hiring process can be a game-changer. By using VR simulations to assess candidates' skills and abilities, businesses can gain a more comprehensive understanding of a candidate's potential, going beyond what a traditional resume or interview can reveal. This can lead to more informed hiring decisions and a workforce better aligned with the company's needs.
While challenges like affordability and skeptical public perception remain, the decreasing costs of VR equipment and continued advancements in the technology indicate a promising future. As more companies invest in VR development, it is likely to become more accessible and integrate seamlessly into various aspects of business operations.
Hot Take: Unlocking Competitive Advantage
Businesses that embrace VR early on stand to gain a competitive advantage. By leveraging VR for training and skill development, new businesses can ramp up their employees' capabilities quickly and efficiently, enabling them to stay ahead of the curve in rapidly evolving industries. Additionally, the ability to attract and retain top talent by offering cutting-edge VR experiences during the hiring process can help new businesses build a strong foundation and establish themselves as leaders in their respective fields.
Overall, the integration of VR in the classroom and workplace holds immense potential for new businesses. By embracing this technology and tapping into its benefits, businesses can unlock new avenues for growth, innovation, and success in an increasingly competitive marketplace.
Article First Published at: https://www.cnbc.com/2023/07/24/interns-college-students-are-using-virtual-reality-to-learn-office-skills.html