NEW TECHNOLOGIES FOR BUSINESS

INTERNATIONAL FINANCE AND BANKING

43.WEEK HOMEWORK
Ayşegül SUBAŞI-16226031

Augmented, Virtual and Mixed Reality

As digital technologies, customer demands and business competition change rapidly, companies
will have to adapt to the developments they face and the opportunities they find. One problem
you will encounter when you want to develop digital offers is that it is difficult to decide which
digital offers are a great opportunity for your company. If you start developing digital offers, you
can understand your opportunities.
Finding common ground between what a company can do with digital technologies and what a
customer wants is difficult for two reasons. First, most companies have little experience
imagining what solutions they can develop with digital technologies. They did not fully
understand that ubiquitous data, unlimited connectivity and huge processing power were possible.
Second, customers often can't imagine what they want until they have it.
Digital offerings are well suited for rapid testing and learning as they are software-based.
Software encoders can receive immediate feedback when a minimally applicable product
develops and publishes it to customers or a test group, allowing the company to quickly develop
the product.
The DSF-driven digital offering product lifecycle begins with a defined customer need; proceeds
through the development of a minimum viable product that customers test and use; and then
enters the continuous improvement phase. Companies learn what customers will buy by
experimenting. When calling visions “digital” (because they are inspired by digital technologies),
it is worth noting that they are actually the overall business visions of these companies.
Designers sometimes create an “imitation” customer, giving the person a name, age and
occupation, and taking that customer on a journey of applying for a mortgage or credit card to
understand. What are the customer's feelings, what are their concerns, what are they thinking?
With these insights in mind, they are trying to improve the customer experience.
A number of business leaders think it will take a long time for customers to warm to compelling
value recommendations. A new value proposition always requires the customer to behave
differently in order to disrupt a power structure, change expertise, or respond to new data.
ING Direct Spain relies on cross-functional teams to ensure the new offerings fully meet the
customer's needs. Functions such as product management, marketing, operations, IT, credit risk
and operational risk work together at a very early stage of product description.
The goal of Healthsuite Lab workshops is to find out what customers are willing to pay for.
HealthSuite Labs ' multidisciplinary and collaborative approach enables teams to address difficult
health issues; its proposed solutions are aimed at improving the overall health system rather than
improving the processes or outcomes of a single stakeholder. For example, a HealthSuite Labs
involvement could lead to a redesign of reimbursement plans so that all parties profit and are
encouraged to do the best in terms of system-wide results and costs.
Companies with a fear of digital disruption are designing processes to gather information about
both the capabilities of digital technologies and the interests of customers. In doing so, they
create an organizational presence that positions them for digital success.The creation of this
entity involves the breakdown of established management practices and individual habits. So, it
forces a change in corporate culture. Adopting an iterative test-and-learn approach to developing
offerings will be an unfamiliar concept for almost anyone who has risen to the top of an
established company. For example, pharmaceutical companies have 10-year development cycles;
automakers typically take 5 years to develop, test and market new products. These long cycles
involve large resource allocations. These are "big bet" strategic initiatives.

VR is a computer-generated simulation of one's environment. For example; you put on a headset

it blocks out your worldview and substitute the digital wold that’s designed to feel your senses
from the point of view of your brain your’re somewhere else, it’s a form of mental teleportation.
Ivan Sutherland the first VR headset in 1968, it was Sword of Damacles. He also invented
advanced software in 1968.

AR also known as Mixed Reality. İts main purpose isn’t to cut out the real world anda transport
you another one but rather is to be an enhancement of your real world with a set of magical
virtual objects. If you play Pokemon go when you have Snapchat face filter then you have
aldready used primitive forms of AR.
AR devices are; heads up displays, holographic displays, smart glasses and smartphone based.