Category Archives: Augmented Reality

The Eolian Report Augmented Reality Virtual Reality Artificial Intelligence

The Eolian Report: 1st Edition 12.12.18

Industry altering advancements in the augmented reality, virtual reality, artificial intelligence, and machine learning space continue to be released at a rapid clip. It’s almost impossible to keep up, even for tech nerds like ourselves. Because of this, the team at Eolian decided it would be worth taking the time to highlight some of the most earth-shattering updates, curate those that are the most relevant in our area of expertise, and even add a little insightful context so you can convert them into action items when appropriate. We’re calling it “The Eolian Report”. This is the first of hopefully many editions and we hope you find tremendous value out of it.

The industry is moving so fast and adoption along with it. It won’t be long before you look around and notice how widespread and rampant AR, VR, AI, and ML use cases are being implemented all around you. Don’t blink or you might get left behind. We would love to convert everyone into believers but for the purpose of this we will do our best to remain objective and hope that the facts and trends will speak for themselves.

Full disclosure: we are also working on developing some incredible applications and have launched a few in our core verticals of military/defense, healthcare, and real estate. So, we may share some of our major milestones as well.

While we are biased on the subject and feel that everyone should at least be exploring the potential implications and use cases for their own businesses we completely understand the delay and skepticism. Because of this we’d love to hear from you all to see where your mindset is on the matter, whether positive or negative. Perhaps you’re a hardcore skeptic. Or maybe you have tried launching an AR strategy and it fell flat or never made it off the ground. Maybe you have been thinking long and hard about it but have yet to pull the trigger. Better yet, hopefully you’ve built and launched a program and it’s been achieving a lot of success and on the way to massive ROI. Either way please reach out and let us know!

-Mike Simmons, CMO

Now without further ado, time to check out some of the latest developments in the space:

General Business

Tesla Patent Application Mentions Augmented Reality Safety Glasses

https://www.forbes.com/sites/sebastianblanco/2018/12/07/tesla-patent-augmented-reality-safety-glasses/amp/

15 Examples of Augmented Reality to Inspire Small Business Owners

Walmart & Target Unwrap New Augmented Reality Features to Bring in Holiday Shoppers

https://mobile-ar.reality.news/news/walmart-target-unwrap-new-augmented-reality-features-bring-holiday-shoppers-0191066/

The 5G Conundrum: Who Will Build Tomorrow’s Digital Superhighway?

Healthcare

VR, AR and the NHS: How virtual and augmented reality will change healthcare

https://www.zdnet.com/google-amp/article/vr-ar-and-the-nhs-how-virtual-and-augmented-reality-will-change-healthcare/

Healthcare Augmented & Virtual Reality Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2018–2026

http://www.digitaljournal.com/pr/4060124

Global Augmented Reality (AR) and Virtual Reality (VR) in Healthcare Market Extensive Study of Future Value Chain on Regional, Drivers and Technological Advancements Outlook 2018–2027

https://www.marketwatch.com/press-release/global-augmented-reality-ar-and-virtual-reality-vr-in-healthcare-market-extensive-study-of-future-value-chain-on-regional-drivers-and-technological-advancements-outlook-2018-2027-2018-11-30

Augmented reality in the operating theatre: How surgeons are using Microsoft’s HoloLens to make operations better

https://www.zdnet.com/google-amp/article/augmented-reality-in-the-operating-theatre-how-surgeons-are-using-microsofts-hololens-to-make/

FDA Approves Surgical Augmented Reality

https://www.healthcarepackaging.com/article/fda-approves-surgical-augmented-reality

AR and VR in healthcare: Five ways immersive tech is saving and transforming lives

https://www.compelo.com/ar-and-vr-in-healthcare/amp/

Technology Innovation in Virtual Reality in Healthcare Market to See Rapid Growth in Coming Year — Leading Players Are Google, Microsoft, Daqri, Psious Industry Analysis

http://www.digitaljournal.com/pr/4053337/

Commercial Real Estate

With Augmented and Virtual Reality, Tour Your Office Before It’s Built [We have a platform called ARRE (Augmented Reality Real Estate) out that can help you do just this and so much more!]

Landlords Look To Curate Tenant Mix So Companies Can Financially Benefit One Another

https://www.bisnow.com/atlanta/news/office/office-space-now-the-frontlines-in-the-war-for-talent-95092

NYC Virtual Reality Champions That Will Make Your Listings Pop

No more open houses? How AR will affect the real estate industry

https://venturebeat.com/2018/10/03/no-more-open-houses-how-ar-will-affect-the-real-estate-industry/amp/

3 smart tech-savvy companies leading commercial real estate into the future [They forgot to mention ARRE but that’s ok, we forgive them.]

https://www.bizjournals.com/boston/news/2018/09/01/3-smart-tech-savvy-companies-leading-commercial.amp.html

How 5G internet will enable ultra-smart workplaces

Military

Microsoft Wins $479 Million Army Contract for Augmented Reality Systems [One of the most earth shattering pieces of news of the entire year for AR!!]

https://gizmodo.com/microsoft-wins-479-million-army-contract-for-augmented-1830730198/amp

2017 Military Augmented Reality (AR) Headgear Market Growth Breakdown by Regions, Manufacturers, Types and Applications

Global Military Augmented Reality (AR) Headgear Market 2019–2023: Competitive Landscape, Advanced Theory, and Survey

US Soldiers Joined to Military’s Connected Cybernetwork Global Attack Machine

Industry Optimistic About Military Training, Simulation Market

http://www.nationaldefensemagazine.org/articles/2018/11/29/industry-optimistic-about-military-training-simulation-market

Artificial Intelligence/Machine Learning

5 Artificial Intelligence Trends To Watch Out For In 2019

https://www.forbes.com/sites/janakirammsv/2018/12/09/5-artificial-intelligence-trends-to-watch-out-for-in-2019/#78fc25d85618

5 Ways Artificial Intelligence Is Changing Architecture

https://interestingengineering.com/5-ways-artificial-intelligence-is-changing-architecture

Why Companies That Wait to Adopt AI May Never Catch Up

https://hbr.org/2018/12/why-companies-that-wait-to-adopt-ai-may-never-catch-up

Artificial Intelligence: Disruption Ahead

https://www.physiciansweekly.com/artificial-intelligence-disruption-ahead/amp/
Seed Round Capital

Notes on Raising Seed Round Capital

Throughout the past year I’ve helped lead a couple of seed round funding for company’s that I’m a co-founder of. While I’ve assisted and consulted many startups prior to that with raising money, doing it from this perspective was quite different. I won’t admit to knowing absolutely everything, but I’ve certainly learned a few things along the way that are worth sharing if you’re in a similar situation or considering it.

Seed round funding takes significantly longer than you think it will, even if you’re just going after “friends and family”. Start reaching out to potential investors at least 6-9 months before you think you’ll need the funds as it can easily take that long to close the deal and collect the check.

How are you going to structure your company, and the investment? Delaware C-Corp’s are a common favorite structure and get a ton of attention, but you don’t necessarily need to structure it that way. Do you want to offer a convertible note or do a straight equity investment (or equity crowd funding – which is a whole other game)? There are pros and cons to each of these decisions, so it really just comes down to preference and seeking expert counsel.

Get serious about documentation as there’s a ton of it required. These deals are a negation, so anticipate there to be red lining for edits on a term sheet contract, additional concessions will be asked for, etc. Secure an attorney to assist you with this side of things. While you can start with a template, always get approval from a professional before executing the deal and finalizing documentation. It will help you later.

Your valuation is likely too optimistic. But even then, a valuation is always subjective. Your true valuation is essentially what you can convince someone your company’s worth. Remember no business plan or pitch book in the history of the world was 100% accurate with their projections. Make sure your work comes across as thoughtful and realistic however to show the potential investor that you did the work and aren’t just flying by the seat of your pants.

A “yes” isn’t really a yes until the money has been transferred. Don’t count your chickens and start deploying capital until you have received it. You can get a yes (or what you perceive to be a yes) on a deal but then when it comes time to complete a wire transfer the investor can get a little gun shy. Things happen, whether they get push back from their spouse, the market takes a downturn, or perhaps it’s some other random unexpected occurrence, a deal isn’t truly closed until you have the money in hand.

Collecting the funds isn’t where it ends, rather it’s just the beginning. After you receive the investment capital, then you have to execute the vision, deliver on what you said you were going to, provide further documentation along the way, communicate progress regularly, and ideally turn a profit so you can return the capital back along with a sizable return on their investment. Not sure which is the hard part? They all are.

What are some of the things you’ve learned along the way? There are so many others to consider. I always love hearing, and learning from, a good case study about your personal experience raising funds if you’re willing to share.

2018 Call to Action

Happy New Year! I’ll save you the “new year new me/new year new you” talk (even though I’m always a sucker for self-improvement) and get straight to the point. You already know this is going to be your best year yet or you wouldn’t be reading this. And you KNOW it’s going to be my best year yet too. Now for the important part, HOW are we going to do that? This is OUR call to action!

Now I’m not some business guru, I’m still closer to the beginning of my come up, building the foundation of my future empire just like most of you. But I often have people reach out to me beginning with something along the lines of, “I’ve been meaning to reach out to you.” Or “I’ve been following/keeping tabs on you for months now and planning to hit you up.”

The reasons and motivations usually vary, it could be about entrepreneurship, marketing, CRMaugmented reality, blockchain/cryptocurrency, etc. My point in all this is to explicitly say, THIS is your invitation to reach out to me. Don’t wait another 3 months until your life gets less complicated (it won’t) or less busy (it won’t) before doing it. Now is as good a time as any.

It’s obvious we’re all ambitious people grinding our asses off to continue building our businesses and to add more value to our clients and prospects. If there’s a way we can help each other to do just that it’s very much worth at least a conversation.

Further, even if you’re not ready just yet, there’s a good chance I’ll be reaching out to you soon regardless. I will always make sure there’s something valuable tied to it though. But in 2018 I truly want to connect people in a way that helps them grow their businesses and networks. People ask me to make introductions/referrals to professionals in my network often. If it’s a connection that doesn’t make sense to you, you are more than welcome to say no thanks (or ignore it like some do). But keep in mind that on the flip side I’d probably make the intro for you too.

When the dust settles this time next year we’ll all have just got done celebrating the best year of our professional lives and strategizing on how to make 2019 even better. As my boy Tony Robbins says, “If you want to take the island, burn the boats!” I’m ALL IN on 2018 and I know you are too, so let’s get to work already and make it happen!

P.S. I’m always looking for new clients, investors, partners/collaborators, etc. so if there’s someone you think it would make sense for me to talk to please don’t hesitate to answer the call to action!

Eolian is Solving Augmented Reality & Virtual Reality’s Greatest Barriers to Mass Adoption

There has been significant traction and growth in the augmented reality and virtual reality industry over the past few years, that’s undeniable and obvious. However, neither has yet to make that inevitable quantum leap to mass adoption by individuals and enterprises. At Eolian, we believe that augmented reality, virtual reality, and mixed reality, are the next wave of computing, and will have an impact that far exceeds even that of the mobile one that we’re currently in. Some of the challenges that have been holding the industry back from that type of breakthrough are being overcome rapidly and as a company we are at the forefront of leading the charge.

VR Applications from the User Perspective

Three of the most common barriers to entry that cause hesitation with VR adoption from a user perspective are:

  1. The uneasiness/motion sickness that can occur from too much “teleportation.”
  2. The inaccurate destination area while teleporting with the current controller method is also a little cumbersome and frustrating at times when it sends you somewhere that you weren’t looking to go.
  3. The controllers themselves can be a burden as well, not to mention having your actual hands mimic real-life movements in a realistic fashion is what you’re training someone to do via the educational use-case.

To fix these issues we partnered with a company called Leap Motion which developed a hand tracking sensor that eliminates these issues and allows you to more seamlessly embrace the VR world.

The Constant Evolution of Hardware

A lot of businesses don’t want to invest a significant amount of resources into a project if by the time it’s completed there is already another better piece of hardware coming out. This could render a project obsolete, or require significant and expensive updates late in the game to make sure the application is compatible. In some cases, companies simply refrain from even trying to build something altogether rather than make that type of mistake. They’d rather wait it out to see which piece of hardware “wins” before diving in. That could be a big mistake if/when their competitors get a head start.

Even a six-month to one-year long software development project could experience multiple hardware changes, so agility and adaptability are crucial. This shouldn’t be seen or approached as a burden, but rather an opportunity. A great Augmented Reality/Virtual Reality company shouldn’t need to react or be caught off guard either, they should anticipate these changes and plan accordingly. Build with the next version in mind at all times, without breaking what was built for the previous hardware in case delays in that next thing happen (which is also just as inevitable).

We’re already able to create applications that can sync with multiple pieces of hardware, and even from various manufacturers too. While we have our preferences, there’s no room for romanticism in this business. You don’t have time to wait to see what users adopt and then start building for that. By the time you do they’re likely on to the next thing.

Supply Chain Disruption

When working with cutting-edge technologies supply chain issues can arise leading to unpredictability and volatility. We’ve already experienced them too many times, so we now work with various forms of hardware in conjunction to mitigate these macro level issues that can arise while implementing an Augmented Reality/Virtual Reality initiative at the enterprise level. It won’t always be perfect (even Apple must outsource some of their parts to Samsung after all) so planning ahead to make sure you have all the right components is crucial.

Would Companies Really Use AR/VR to Train Their Employees?!

Yes. They would, do, and will continue to do so even more so. One of the most widely used, and highest revenue grossing VR application’s right now is “Job Simulator.” Think about that for a second, kids and adults are going out of their way to pay for a game that simulates what it’s like to have a job rather than getting an actual job and getting paid to do it. Quite the contradiction, no?

Not only are they using this application, but it’s now the “most popular VR title to date” after surpassing $3 million in sales. So anyone that says, “but our employees would never want to receive virtual reality training…” you may want to re-evaluate your stance on the matter.

 

The Augmented Reality and Virtual Reality industry is still in the wild, wild, west phase but the opportunities and use-case applications are astounding. You may have dismissed it altogether after trying one silly headset and phone application, but we’d urge you to give it another look and keep an open mind as that’s not what Augmented Reality  and Virtual Reality are truly meant to be. But don’t just take my word for it, soon enough this technology will have infiltrated just about every aspect of your life as it is so don’t miss the opportunity to be an early adopter.