Wearable Technology: When is it Coming to the Workplace

Vandrico Ińč WEARABLE TECHNOLOGY WHEN IS IT COMING TO THE WORKPLACE? What is Wearable Technology? MUST BE WORN, NOT CARRIED THE CONTROLLABLE BY THE USER, CONSCIOUSLY OR UNCONSCIOUSLY PAST ENHANCES THE USER'S EXPERIENCE The Abacus Ring Wearable technology has a long history dating back as far at the 17th century. Here is a look at the 1644 • The Qing Dynasty miniaturized the abacus and placed it on a ring, a device still used today by some merchants. evolution of wearables. Marine Chronometer Pocket Watch 1762 • Precise and accurate enough to be used as a portable time standard and used to determine longitude via celestial navigation. The Gambling Shoe 1961 • Used to calculate better odds and beat the roulette table with a 44% chance of success. Digital Wristwatch 1972 • Hamilton produced the first digital wristwatch, using a light emitting diode (LED) display. Digital Hearing Aid 12:00 1987 • First commercial hearing aid contained a body-worn processor that had a hardware connection with a wired earbud. BlueTooth Headset 2000 • Widely used as a hands-free way to speak on a mobile phone. Since its incarnation, the market for wearable technology has GROWN IMMENSELY. Depending on who you cite, the growing market size is different: The next-gen wearable devices market, including smart glasses, to be worth more than $1.5 billion by 2014. , The Global market for Smart Fabrics and Interactive Textiles is projected to each $2.6 bilLlion by the year 2017. Juniper Research Global Industry Analysts IMS research projects a Business Insider Credit Suisse Report May 2013 $6 Billion Report expects a $12 billion estimates the total available market market by 2016. will grow from $3-5 billion to $30-50 billion over the next 3-5 years. market by 2018. Although this is only a fraction of the current $380 Billion PC, tablet and SmartPhone market, the ten-fold growth of wearables is expected to outpace all other consumer electronic categories. THE PRESENT Today's wearable tech can be broadly categorized as: Activity Monitors, Smart Watches, Heads Up Displays, and Virtual Reality The current trend has been mostly towards activity monitors. Health has been a big driver for wearables thus far. We're eager to see how far Smart Watches go and how they are implemented into the workplace. The Fitbit 2008 The current benchmark for the early consumer wearables market. Tracks only steps taken, distance travelled, calories burned, activity intensity, and sleep. Workplace Application: Employee metrics could be measured and offer new KPIS to gauge the success of HR initiatives. The Oculus Rift 2012 A virtual reality headset designed for immersive gaming, and recently acquired by Facebook for $2.0 billion. Workplace Application: Could be used for immersive training and offer experiences akin to being in a hazardous environment from within the safety of an office. Galaxy Gear 2013 • An Android-based smart watch. • A companion for all Samsung Galaxy smartphones and tablets. Workplace Application: Vital information could be displayed for users in situations where being hands-free is important. Google Glass 2013 12:00 • A wearable computer with an optical head-mounted display. • Displays information in a smartphone-like hands-free format. 24°c * Workplace Application: Its accelerom- eter and GPS capabilities can be used to detect falls or entry into unsafe areas, respectively. Its voice input can be used for record logging and hands-free com- munication. Glass could also be used for inventory management using QR codes with greater speed and accuracy. The applications are virtually limitless. WHERE IS THE O IN WEARABLES? Workers will be provided with easier access to information on the fly with heads-up displays. Companies will be able to pinpoint areas of risk with fatigue analysis and local-positioning systems to determine workforce behavior. Human Resource teams will have the ability to better understand employee satisfaction, motivation and focus with Electroencephalography (EEG) monitors. Virtual reality simulations will result in improved employee training. Health insurance costs will be reduced by having the data to back up healthy lifestyles choices. THE FUTURE Specialized Visual Aids 2012 • High dynamic range imaging in electric arc welding helmets 2014 will mark the beginning for the use of wearables in the records and streams real-time video to observers in nearby or remote locations. workplace. Medical-Grade Monitors 2013 • A wrist-worn device designed to collect medically accurate data in real-time. Workplace Application: Can mitigate risk by communicating when an employee is too fatigued to operate machinery safely. 12:00 Smart Safety Glasses 2014 • A heads-up display with a truly open platform that delivers information instantly to the user's eye. Workplace Application: Could be used for two-way communication with ERP systems and worker notifications and alerts. Augmented Reality 2014 This headset can create a virtual workspace or combine the visuals from both eyes to create a stereoscopic 3D picture and track hands and other movement. Workplace Application: By adding digital objects to physical settings, users like geologists could benefit by seeing the graphical geological interpretation of a mineral vein in a mine. Conclusion Wearable technology has grown by leaps and bounds since its inception in the 17th century. As companies look to increase productivity, reduce costs, and improve employment practices, it is clear wearables will play an important role in achieving these goals. PRESENTED BY: Vandrico Inc LEARN MORE For a complete list of wearable devices, please visit: vandrico.com/database Sources: http://www.media.mit.edu/wearables/lizzy/timeline.html#1268 http://www.breguet.com/inventions/montre-bracelet/#histoire http://www.bbc.co.uk/dna/ptop/alabaster/A1006534 http://en.wikipedia.org/wiki/History_of_hearing_aids http://www.reconinstruments.com/products/jet/ https://www.spaceglasses.com http://www.chinadaily.com.cn/china/2006-07/20/content_645797_4.htm http://s2012.siggraph.org/attendees/sessions/hdrchitecture-real-time-3d-hdr-imaging-extreme-dynamic-range http://en.wikipedia.org/wiki/Fitbit http://www.oculusvr.com http://en.wikipedia.org/wiki/Samsung_Galaxy_Gear http://www.google.com/glass/start/ http://www.eyetap.org/-siggraph2012/ http://fatiguescience.com/solutions/readiband/ VISUAL CAPITALIST Educating a new generation of investors on resource investing and management www.visualcapitalist.com For a complete list of sources, please visit: visualcapitalist.com/sources