Originally, both techniques were known for the excellent potential they showed in the video games and entertainment fields. Today however they are demonstrating their ability to transform the user experience in a wide variety of industries and service sectors.

It is now clear that virtual reality (VR) and augmented reality (AR) are not restricted to the world of entertainment and gaming. They might have been closely associated with these ‘fun’ areas in the very beginning but now the figures show that their positive impact goes much further.

A report from Goldman Sachs forecasts that by 2025 VR and AR will be generating more revenue than the television market. Meanwhile studies estimating the value of the VR and AR markets are outdoing each other in predicting revenue in the tens of billions. Today the applications of these cutting-edge technologies have already pushed beyond the boundaries of the entertainment and gaming industries.

“From the consumer’s viewpoint, AR and VR increase and enhance the human experience. Notions of time and space become relative. As a user, I can find myself in places that I’m exploring for the first time, in eras that I’ve never lived through. This can generate a lot of applications for a wide range of industries. This is even more true when VR and AR are combined with other technologies such as artificial intelligence and eye-tracking,” explains Sivan Iram, General Manager at River Studios, a company working in VR and AR.

Moreover, the power of VR and AR is being demonstrated in sectors such as commerce and mass retail, real estate, plus also in education and in-company training. A quick overview of the most innovative virtual reality applications currently in use should suffice to convince any doubters of the extent of AR/VR potential.

Retail wants to offer a compelling Customer Experience

In the retail sector, a number of luxury and ready-to-wear apparel brands have ventured into filming their fashion shows in 3D, later relaying them to their shops, where customers can use VR headsets to get a virtual front-row seat at the show.

The promise that virtual reality holds in these examples is to generate brand engagement. Volvo in the United Kingdom  recently partnered with Microsoft HoloLens with a view to transforming the purchasing experience. Given that vehicles cannot be available for demonstration with every possible option at every car dealership, it is easy to see how augmented reality can help potential customers not only to visualise the interior and the exterior of the car, but also to test its range of functionality.

Total immersion a boon for real estate viewing

Another sector where opportunities exist to greatly enrich the buying experience is the real estate business. Matterport offers to create 3D visualisations of for-sale properties for real estate agencies, a cut above the 2D photos and modest 360° panoramas that are still the norm here. It provides a demonstration on a mobile app for the end-customer and will also provide the real estate agency with the hardware and software needed to make 3D visualisations, leaving the agency to take care of the actual shooting.

Meanwhile GeoVC, a New York-based start-up, has come up with an app that enables the user to scan a space, such as an apartment. It also allows you to measure the dimensions of a room and even modify the configuration – for example taking out one element such as a screen and replacing it with another feature. Here the immersive experience offered by VR technology is extremely useful when looking to purchase real estate. GeoVC reckons that people visiting a house or apartment with a view to purchase will tend to try and visualise themselves inhabiting the space and also project themselves forward in time – to the moment when any planned alterations have been completed.

Enhancing learning techniques at school and in-company

As the General Manager of River Studios emphasises, VR enriches the human experience. Taking this observation to heart, many start-ups have recently been getting into the education sector, which is an obvious field of application for these technologies. Plunge with London-based Alchemy VR into the midst of the primitive life forms which began to shape our world, listen to Albert Einstein explain his theory of relativity in an amphitheatre with the LectureVR created by Irish company Immersive VR Education, go on an expedition to Mars one afternoon with Google Expeditions, or simply practice your Spanish at a meet up via your headset, courtesy of Californian company AltspaceVR. Virtual reality has the power to transform the way we teach and how students of all ages acquire knowledge. zSpace technology is already in use in many educational establishments in the United States, revolutionising the way children learn about anatomy and biology.

And it is just one step from education to the world of work. Virtual reality and augmented reality are now playing an essential role in the changes taking place in the workplace environment and the tools used by Human Resources departments. ScioVR gives us a taste of what professional training might look like in future. The Swedish start-up has embarked on a research project – the ‘Virtual Operating Room’ – in partnership with Södersjukhuset, one of the main hospitals in Stockholm. Using VR headsets, the medical teams are immersed in classical situations, learn to repeat medical procedures over and over again, and also acquire best practice in terms of communication in the operating theatre.

Next steps

VR and AR technologies can thus enable all kinds of people to develop not only technical competence but also soft skills by immersing them in standard situations. Will company adoption of VR and AR encourage more widespread use of the technologies beyond the realm of video-gaming and take them to the general public? Technological progress – starting with ever-higher picture resolution – coupled with a progressive reduction in costs, could well be a driver. And guess which company is currently working on a VR headset? No less a player than Google, which is now researching a successor to its Cardboard. This is a sign of things to come that should not be ignored.

(Source: http://www.atelier.net)

Thinking about leasing a company car? Not sure which options are available? Below is an overview of all our available leasing options. That way you can determine which type of leasing is right for you. What's more, our partner Arval has a top deal, valid until 30 November 2024: drive the new electric BMW iX1 eDrive20 or BMW i4 Gran Coupé for a very advantageous all-in price.

Financial or operational leasing?

The same reasoning applies to both financial and operational leasing: you pay a leasing company for a specific period, usually four or five years. In both cases, the leasing company is the legal owner of the car. You do, however, have the option to purchase the car at the end of the contract. In financial leasing, the amount of the purchase option is known from the start of the contract whereas with operational leasing, the amount is determined at the end of the contract based on the car's market value.

'Including services'

This is one of the major advantages of operational leasing versus financial leasing: the taxes, (comprehensive) insurance, maintenance and costs (except fuel) are all included in the rental price. What's more, you enjoy additional services such as summer and winter tyres, roadside assistance and a replacement vehicle. All you need to do is pay a specific amount each month and that's it. In short, you get to drive with peace of mind: everything has been paid for, except for the fuel.

Tax implications?

The purchase option has tax implications: for a financial lease, you depreciate the investment asset and deduct the interest on your tax return. The car is listed as an asset on your balance sheet. For an operational leasing contract, the full rental price is processed as a cost. Tax deduction limits apply in both cases and you may have to take the professional use of the car into account. Equally important: the VAT is paid monthly on the rental price and not in one go, allowing you to use your lines of credit for other investments.

Get our top deal

Our exceptional offer is valid until 30 November 2024: you can lease the new electric BMW iX1 eDrive20 or BMW i4 Gran Coupé under an operational leasing contract at an affordable and exclusive price, including all services.

Arval Belgium SA, Ikaroslaan 99, 1930 Zaventem – RPM Bruxelles – TVA BE 0436.781.102, intermédiaire en assurances à titre accessoire, inscrit auprès de la FSMA sous le numéro 047238 A. Sous réserve d’acceptation de votre demande.

Arval Belgium nv, Ikaroslaan 99, 1930 Zaventem – RPR Brussel – BTW BE 0436.781.102, nevenverzekeringstussenpersoon geregistreerd bij de FSMA onder het nummer 047238 A. Onder voorbehoud van aanvaarding van uw aanvraag.

Today, many employees see mobility as a need they address with their employer. They have moved beyond relying solely on the private car to get around, instead using a mix of mobility solutions – private, public and mixed. Belgian companies are therefore increasingly looking for expert advice on the perfect mobility mix, adapted to their own professional needs and the needs of their staff. Arval’s mobility specialists show how mobility is evolving and how to handle it accordingly. This not only takes knowledge, but also guidance to support employers in this area.

Philippe Kahn, Mobility Solutions Expert, sums up Arval’s vision and mission: “Life is a journey made of journeys. This means that we at Arval are constantly asking ourselves how we can support and relieve small, medium-sized and large enterprises in all the mobility issues they face. Our DNA as a supporter is built on two key aspects that add value: personal and sustainable mobility*. From individual firms to large companies, Arval offers its corporate know-how and provides a one-stop-shop solution."

* Sustainable mobility: mobility with lower greenhouse gas emissions, which promotes electrification, soft mobility and/or public transport.

Sustainable mobility: a natural progression

Many companies are now fully focused on sustainable mobility or are evolving in this direction. This means not only opting for electric cars, but also looking at new mobility solutions with an open mind. Arval has a role to play in this: all customers are informed and guided in their pursuit of sustainable mobility. For many companies, new mobility solutions such as Arval Bike Lease, Arval Car Sharing and the future budget management tool are key to a balanced mobility strategy.

Added value: business and personal

Arval’s budget management tool provides companies with a comprehensive overview of all their employees’ used mobility solutions and the associated costs. This is just one aspect of the added value companies get. Mobility consulting is also an integral part of what Arval offers.

Kahn: "If a company of around 100 employees plans to move to the centre of Antwerp, we sit down with them to see what new mobility solutions they'll need and how much it will all cost. This way, we're truly part of the team and together we look at the effects of all possible mobility solutions on their future. This is customisation, where we put our expertise at the service of our customers."

This expertise often leads companies to take a step forward in their business management and to better support their staff."

Kahn continues: "The days of using an Excel file to keep track of pool car usage are over. Apps on phones or computers make everything easier and smoother. They keep track of the location of pool cars between the various branches and blur the line between pool and shared cars. For example, employees can use a car privately during the weekend – albeit for a fee – and for business travel during the week. Support for leasing an electric bicycle is also included. Arval relieves employers and gives them extra assets to support their employees in their private mobility too. Through their mobility offerings, companies can support their employees' daily lives, both in and out of the office.”

Arval Belgium SA/NV – Ikaroslaan 99, 1930 Zaventem – Brussels Register of Companies – VAT BE 0436.781.102, secondary insurance mediation, FSMA no. 047238 A. Subject to acceptance of your application.

How can we turn the constraints of the energy transition into a strategic opportunity? “With rigour and pragmatism,” says our partner Climact.

"We support and advise businesses so they can take action and achieve more climate maturity. This includes addressing climate-related obligations, such as the sustainability reporting required under the European Corporate Sustainability Reporting Directive (CSRD)," explains Jerome Meessen, Associate Partner at Climact. "We ensure they get real added value from this, the most tangible result being a reduction in their energy bills or improved resilience of their supply chain and customers in the face of the climate transition. Our approach is both rigorous and pragmatic. Rigorous because we base ourselves on figures and use standardised methods, such as the Greenhouse Gas Protocol, for calculating a company's carbon footprint, thus avoiding the pitfalls of greenwashing. And pragmatic because we always adapt to the company's reality. "

A 5-step process

So, how does Climact support businesses and public organisations?
Jerome Meessen: "Firstly, we help them understand the effects of climate change they are or will be facing. We do this by mapping opportunities and risks, such as flooding of a production site or the risks associated with high carbon prices. We also assess their current impact, i.e., the carbon footprint of their operations. The next step is their vision for the future, in which we define sustainability goals with them, referring to the international standards of Science Based Targets initiative where relevant. We then help them develop a detailed transition plan and implement it on the ground, allowing them to define the content and details of a green energy purchase agreement, for example. Finally, we provide support for communicating their commitment, in line with the CSRD requirements."

CSRD: burden or strategic opportunity?

Many businesses are subject to the CSRD, which enters into force this year, and its reporting process. “The directive aims to provide maximum transparency on how businesses manage their sustainable transition,” says Jerome Meessen. "The reporting focuses on environmental, social and governance (ESG) aspects. "This also allows stakeholders and especially investors to get an objective idea of the progress made, as well as a company's climate ambitions and its exposure to climate change risks."
“The CSRD sustainability reporting is a significant burden for companies,” adds Jérémy Robinet, who coordinates the partnership with BNP Paribas Fortis. "You must adhere to a specific methodology and standards, fill in forms, provide indicators... But it is also an opportunity to develop a solid, well-founded transition strategy that will benefit the company, including its reputation. Businesses can save time with our support, knowing that their reporting complies with regulatory constraints and that their ESG approach creates value and is meaningful."

Climact, a partner of BNP Paribas Fortis

Climact is one of several partners selected by BNP Paribas Fortis to support its corporate customers with non-financial issues. “At the initiative of the bank’s Relationship Manager, we meet companies who want to make progress in terms of their energy and sustainable transition, more specifically for their decarbonisation strategy and to draw up their carbon balance sheet,” explains Jérémy Robinet.
Gilles Roumain, Sustainability Program Officer at BNP Paribas Fortis who oversees the partnership with Climact, says: "The collaboration with Climact allows us to provide solutions to our customers, support them in decarbonising their activities, and continue to build our expertise on these decarbonisation issues. By offering this support, we also reduce our carbon footprint."

“The companies that the bank has referred to us come from all industries,” says Jérémy Robinet. "They are larger companies, e.g., with a turnover of at least 25 million euros or a complex supply chain. This partnership has already led to fifteen collaborations, including with garage door manufacturer RE Panels.

We initially assisted them with drawing up a carbon balance sheet in line with European CSRD requirements.  Management then realised the strategic interest of our work and asked us to perform more specific analyses by product and production site. This, in turn, allowed them to identify best practices. RE Panels really appreciated our approach. We calculated the cost, gains and investment amount for each carbon footprint improvement objective. They also commended us for our rigorous alignment with international standards, a key element to avoiding greenwashing pitfalls."

Since 2019, the bank has reduced its CO2 emissions per full-time equivalent by 55%. And according to Sandra Wilikens, Chief Human Resources Officer, everyone must play their part.

Between 2019 and 2022, the bank succeeded in reducing its CO2 emissions by 55%. So how did you do this?

"Mainly by focusing on the energy efficiency of our buildings, which account for approximately 80% of our immediate emissions. We also optimised our real estate and significantly reduced business travel. We settled on a structured approach involving all departments. Since 2012, our Green Bank Platform has gathered the contact persons of each department every quarter, allowing them to present an action plan with their initiatives. They then develop a series of KPIs on energy and paper consumption, business travel, the electrification of the vehicle fleet, waste management, etc. Because measuring is knowing."

The target was to achieve a 42.5% reduction in emissions compared to 2012 by the end of 2025. A goal we have since achieved. What else is in the pipeline?

"We have no intention of resting on our laurels until 2025. Because there is no time to waste if we want to be carbon neutral by 2050. Our new headquarters at Montagne du Parc in Brussels is a good example of energy efficiency, but there is still a room for improvement in the rest of our real estate. We will improve the energy efficiency of the various regional offices, install solar panels in more than 80 branches, and LED lighting will become standard in all our buildings. These efforts must allow us to reduce our CO2 emissions by another 7%."

How much progress have you made in terms of the electrification of your fleet?

"We are making a sustained effort to electrify our fleet, and I think we are on the right track. At the end of 2022, just under 30% of our fleet of leased company cars was electric – 100% electric and plug-in hybrids. In the third quarter of 2023, these cars accounted for 95% of new orders. This was largely due to the new car taxation. But for employers, it doesn't stop there. They must deal with a complex tax framework, including the reimbursement of electricity costs. Some of our staff members also face obstacles, for example, because they have difficulty accessing a charging station. I intend to organise a mobility roundtable this year. The aim is to bring governments, operators, start-ups and companies together. Because we have to move forward and are all in this together."

How do you ensure sufficient employee engagement?

"With a lot of communication. You need to explain what you are doing and why. That is the only way to get people to cooperate. We have a network of more than 200 EcoCoaches within the bank. The sustainability compartment of CBA 90 also inspires. We set six specific objectives each year. If we achieve at least three, all staff members receive a bonus at the end of the year. To date, this has been a success. We also have other incentives. With our “Green Fuel Consumer Plan”, we reward staff members who have a company car but use it sparingly. We are also launching many campaigns to promote soft mobility, such as walking, cycling and public transport. The decision to base our offices in cities is also positive. At the end of 2022, 79% of the employees working in Brussels used public transport to get to work. Outside cities, 60% of employees do this."

Finally, can you think of any issues that need to be addressed urgently?

"Digital pollution is often underestimated. To give you an idea: sending 100 mails emits just as much CO2 as driving twenty kilometres. That’s why we organise an internal campaign every year to raise awareness among our staff members and give them tips on how to reduce their digital footprint. Regularly cleaning up your mailbox, sending links instead of files, deleting outdated files: all little things. But if our 11,000 colleagues do this daily, we can make a big impact. Every effort counts!"