Financial Foresight: Investing in Technology

At an early age, kids all around the world dabble in robotics. They even competed in virtual reality because of the pandemic. If our children are already in this, why are we, the adults, capitalizing on robotics and virtual reality?

Several companies offer this type of technology. Investing in them would eventually be rewarding. But some argue that doing it during the pandemic is not a prudent move. After all, the government financially intervened to keep a lot of households afloat. If it were not for the timing, would you take the risk? Are you still having second thoughts about taking such a step? If so, let us tackle why it is wise to invest in such a company.

Working Remotely

A recent study showed that companies have adapted to a work-from-home model permanently. This study also pointed out that employees are willing to get a pay cut to continue working in such a setting. Several companies that offer work-from-home require automation, robotics, and virtual reality to sustain this model.

For example, a company recently developed driverless delivery vehicles. Once this technology is running smoothly, many corporations would want a piece of the pie.

Currently, many use virtual reality to meet with their teammates. Schools also use this technology in their remote classes. Whatever you do, you will see robots, automation, or virtual reality. It would be a waste not to jump on board and reap the financial rewards.

Immersive Movies

If that is not enough for you, this technology has raked in billions of dollars in the movie industry. One example is the live-action version of The Lion King. It uses groundbreaking XR production to bring the animated movie to life.

The 1987 movie Predator successfully introduced the concept of virtual reality. We see a helmet-mounted display that has a heat scanner. That looks like virtual reality technology.

If that idea drew in crowds, can you imagine the effect of using virtual reality, augmented reality, and the likes of present-day movies? We are spellbound. We willingly spend money to witness this magic again and again.

This phenomenon brings so much money to movie makers and to companies that develop the technology. You can bank on the fact that it will continue to rake in dollars. Why not take that leap of faith on this profitable endeavor.

Risk-free Training

Moviemakers are not the only ones who extensively use virtual reality and augmented reality. Construction workers use this technology for their safety training. It is expensive. But it saves lives. The construction company sets up tools and equipment that are compatible with virtual reality and augmented reality. It is an expensive task. We cannot emphasize enough the fact that this piece of technology can save lives.

According to the government, fatal work injuries in the construction industry increased in 2019. The data does not mention if these were preventable. But extensive training will lessen this number. Instead of training the construction member on-site, the company can choose to teach him the basics with the use of augmented reality. The inexperienced worker gets exposure to the tools in a controlled environment. Thus, it lessens the possibility of injury.

Another use for virtual reality and augmented reality in the construction industry is during a site inspection. This technology makes it possible for team members to inspect the site as if they were there in person. Let us say that an on-site team member notices something strange with the building. They can easily connect with their teammates regarding the issue. The remote workers can see the problem in real-time.

Medical Advancement

Doctors use robots during surgeries. The first robotic operation happened in 1985. It was hailed as a success as the biopsy was .05mm accurate. This technology continuously evolves. We will not be getting rid of human intervention (yet). But it will make the procedure safer. This medical advancement may be more expensive than its traditional counterpart. But its accuracy is guaranteed.

This technology lessens the risk of infection because the robotic arm that mimics the doctor’s hand uses tiny instruments. It also means that it will be less painful for the patient. The patient’s recovery time is also reduced.

We have gone a long way from our ancestors. We are now debating the ethical use of robots in medicine. This scientific advancement also helped us easily transition from working in a physical office to a remote workplace.

Pouring your money on this technology will help with its evolution. As an investor, you have established financial stability for life.

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