Empowering SMEs to navigate the ever-evolving digital realm
As the digital landscape evolves at an unprecedented pace, staying ahead of the curve is no longer a luxury but a necessity. Our working group is a dynamic hub designed to empower SMEs and grasp the enormous opportunities of the digital transition to thrive during current economical challenging times.
Within this collaborative space, we delve into the latest trends shaping the digital landscape, dissect crucial legislation impacting SMEs, and foster an environment where experiences and expertise are freely shared. We firmly believe that through collective knowledge exchange, SMEs can not only adapt to the ever-evolving digital environment but truly thrive within it.
Virtual reality (VR) creates a completely immersive, multi-sensory computer-generated experience, inserting the user into an interactive, simulated environment. For example, a headset can provide 360-degree images and stereo sound to create a virtual world for the user. Augmented Reality (AR) on the other hand – in the literal sense of the word – augments or improves reality with visual characteristics. In this context, VR and AR(together referred to as extended reality or XR) open up exciting business opportunities, also for SMEs, allowing them to boost business and optimize product development, manufactoring and customer experience, with improved training outcomes, enhanced remote collaboration and amplified creativity in projects. VR and AR tools could help brands enhance their presence on social media platforms through an immersive experience and engage with customers more personall
It is noteworthy that XR is anticipated to create millions of new jobs, while companies in Europe predict a moderate to exponential growth in sales within. As European XR markets are expected to grow between €35 billion and €65 billion by 2025, XR for enterprises are set to outpace commercial uses. More importantly, approximately 90% of the XR-focused companies in Europe are SMEs. These SMEs play a pivotal role in generating employment opportunities and nurturing the essential talents required to unlock XR’s full potential in Europe. Their endeavors deserve our support and encouragement. Therefore, the significance of engaging and immersive product demonstrations extends far beyond entertainment, influencing crucial health, defence and education secorts among others.
Our focus areas encompass staying ahead of emerging digital trends, navigating the complexities of digital legislation, sharing firsthand experiences to enrich the collective wisdom, and connecting with industry leaders and tech experts for valuable insights. Importantly, we explore how SMEs can directly benefit from the virtual world.
In the current digital era, the success of SMEs is intricately linked to their ability to harness the power of technology. The Digital Virtual Working Group serves as a guiding force, empowering businesses not only to keep pace with the digital landscape but also to proactively shape their digital journey. Ultimately, the aim is to contribute to striking a more ideal equilibrium between preserving innovation and creating new business opportunities while implementing guardrails where needed.
