Connect with us

Politics

How Advances in Eye-and-Hand-Tracking Technologies Will Enrich XR

Published

on

Lucky Lance Gobindram


Extended reality is expected to be a $300 billion market by 2024, and it’s growing in both size and sophistication. Much of this is because of advancements in hand- and eye-tracking capabilities. Hand-tracking is already widely available on devices like Magic Leap 1, Microsoft’s HoloLens2, and even Meta’s Quest 2, providing a more immersive digital experience than ever before. Advances in eye-and-hand-tracking technologies will enrich XR.

Emerging XR Technologies for Eye-and-Hand-Tracking

Now new headsets are coming out (such as those using the Tobil SDK) that incorporate eye-tracking directly into the device. That gives developers an entirely new way to connect with the user by using eye movement as an input for applications.

Better Analytics in Training Applications

The XR tech headsets also allow for better analytics, especially in training applications for medical, educational, or job-related purposes, as the administrative team can measure attention and track engagement.

Going even further, HP developed the Reverb G2 Omnicept Edition that can track eye movement and a range of other indicators such as heart rates, muscle movements, facial expressions, and changes in pupil size.

Greater Insight into User Experiences in Virtual Reality

These advances will give even greater insight into user experiences in virtual reality. In addition, they will allow for applications that adjust in real-time to the way a user is feeling or reacting.

In short: The metaverse is coming, and it involves a lot of sensors.

Making XR More Accessible

Having developed immersive training applications for high-stakes situations such as security, I can easily see how additional sensory measurements could take the experience a step further, providing both the trainee and the trainer with valuable information.

We recently developed an application for a private client that guides users through meditation. In allowing the user to control the experience with their gaze instead of controllers, we ensured greater ease for patients who may be dealing with chronic pain, illness, or disability.

The inability to express yourself in the real world shouldn’t translate to the digital world.

By increasing accessibility, we can help a more significant number of people use VR to improve their quality of life, regardless of health challenges and physical ability.

How Do We Create an Immersive VR World?

Making an immersive world is as simple as creating a more immersive VR world that you can engage in while using only your eyes.

And accessibility doesn’t just help the disabled — it makes the experience better for everybody.

XR in Everyday Life

XR opens a whole new world of experiences to all, regardless of physical ability.

Enrich Your Life With an Immersive Experience

People of all ages and capabilities can enrich their lives with immersive experiences that provide utility, comfort, or entertainment (or a compelling combination of all three).

In our everyday lives, we’ll see experiences that transcend the boundaries of age and physical ability. As a result, more users can enrich their lives with these immersive experiences. And as these experiences allow for greater accessibility, they’ll also mold to our reactions and biological feedback to create tailored applications for each user.

XR in the Workplace

By making changes in real-time, we can create a new era of VR experiences that are more comfortable and useful across a broad spectrum of users. There are three ways we’re already seeing it appear in the workplace:

1. Enable Immersive Training

In an office setting (or even remotely), we’ll see increased use of VR applications enabling employees to practice skills with little to no risk and better prepare for their roles.

Immersive training provides hard skills while improving employee confidence and output, speed, and efficiency.

This type of training will be incredibly impactful for those in potentially dangerous fields such as law enforcement, electrical repair, and construction.

For example, immersive modules can be used for self-guided training on complex situations these professionals may face in the field. Practicing in VR puts them in real-world situations without the real-world risk, allowing them to hone their reactions with less pressure.

2. Provide More Data

Incorporating augmented-reality experiences in the workplace can give employees more data and knowledge to inform their work and produce better outcomes for the company. Instead of using them as simple stopgap measures in virtual work, they can become a more efficient route for business processes like prototyping.

A platform called Sim-Lab enables this powerful functionality. Users can prototype everything from vehicles to mounting equipment on this flexible virtual platform. In addition, medical settings can leverage XR for more dynamic care plans that allow patients to progress at their own speed with progress tracked through data.

3. Build Strong Team Culture With Tracking Technologies

It’s much more than hard skills; XR also provides soft-skills training for leadership, collaboration, or even required courses on sexual harassment. We see this already in platforms like Meta’s Horizon Workrooms, enabling virtual meetings and presentations that feel like you’re all in the room together.

To that end, XR could be the solution for the erosion of company culture that occurred when the pandemic popularized the remote workplace.

It provides an immersive space that can be used for collaboration, brainstorming, and productivity.

Extending Your Reality With Eye-and-Hand Tracking Technologies

XR has clear benefits, and they’ll be achieved through a bevy of sensors that collect data and react in real-time to everything we do.

In nature, every facial expression, glance, and movement has a meaning, and it’s only natural that these contextual interactions translate into the virtual world.

As eye-tracking, hand-tracking, and other body-tracking technologies continue to improve, so will the user experience across the full range of XR applications.

It won’t be long before XR is ubiquitous in our society, and there’s no better time to dip your toe in the virtual world than now.

Image Credit: Provided by the Author; Unsplash; Thank you!

Lucky Lance Gobindram

Executive Vice President of Sales & Marketing at Cemtrex

Lucky Lance Gobindram is the general manager of CemtrexLabs and CemtrexXR, the top Metaverse/AR/VR Agency and the No. 1 Shopify Agency in America on Clutch, respectively. Prior to ascending to GM, Lucky was executive vice president of sales and marketing at both Cemtrex ventures.

Politics

Fintech Kennek raises $12.5M seed round to digitize lending

Published

on

Google eyed for $2 billion Anthropic deal after major Amazon play


London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.

According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.

The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:

“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”

The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:

“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”

The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.

The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.

Featured Image Credit: Photo from Kennek.io; Thank you!

Radek Zielinski

Radek Zielinski is an experienced technology and financial journalist with a passion for cybersecurity and futurology.

Continue Reading

Politics

Fortune 500’s race for generative AI breakthroughs

Published

on

Deanna Ritchie


As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.

Goldman Sachs’ Cautious Approach to Implementing Generative AI

In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.

According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.

One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.

To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.

Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.

Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

Continue Reading

Politics

UK seizes web3 opportunity simplifying crypto regulations

Published

on

Deanna Ritchie


As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.

Streamlining Cryptocurrency Regulations for Innovation

To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.

The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.

Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.

The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.

Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

Continue Reading

Copyright © 2021 Seminole Press.