Tech Time: Virtual and augmented reality check

Credit unions often wonder whether their growth strategies should include more emphasis on emerging technologies like virtual reality and augmented reality to keep their current members wowed and  attract new ones.

Making those decisions can feel like a high-wire act—be the first to invest in a hot, new technology and risk falling for the wrong passing fad, or play it too safe and watch as your members get bored and head to your competition in search of more exciting offerings.

One thing is clear: There’s a lot of hype surrounding the VR/AR field. Market projections are so mind-bogglingly huge that it can be hard to separate irrational exuberance from garden-variety enthusiasm. We at PSCU recommend this summary of a 2016 analysis from Goldman Sachs as the clearest-eyed discussion of VR/AR and its market potential that we encountered in the course of our research.

 

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