It was a discussion to find out whether the bubble has burst – for the Augmented Reality and Virtual Reality (AR/VR) industry. Organized by the Global Entrepreneurship Movement (GEM), the forum was moderated by Hasnul Hadi Samsuddin from Malaysia Digital Economy Corporation (MDEC) and held at the University of Malaya. The panelists are VR Lab co-founder Datin Shireen Tan, Havson Group Managing Director, Havene Liew, Streamline Media Group Chief Executive Officer, Alexander L. Fernandez. Wariscan was represented by co-founder, Hilman Nordin.
The forum discussed specific applications of AR/VR in the panelist’s respective companies while uncovering the real challenges in maneuvering the industry. The discussion also looked into providing real solutions to the challenges, and one of the key challenges in the industry is technology awareness and adaptation.
“Solving the issue of talent is important, but it all begin with awareness. In one exhibition that we attended last year, we saw many local visitors did not understand what is AR. They may have tried entertainment based AR but they didn’t understand the technology, so they might underestimate its impact and importance in the future. We are trying to solve that through our series of AR workshops and we hope that by increasing the awareness, we will have more AR content developers, thus more usable application in the future”, said Hilman.
As for whether AR/VR is just a hype – all the panelists agreed that there is more to what we see now in the industry. There is a need for a hype in the introduction of the technology to create awareness. However, looking at the market projections, one can see that the industry is still growing and is nowhere near its peak.