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MysticAI

The Augmented Reality (AR) Market

The Augmented Reality (AR) market will be of $50B by 2024
As of 2023, there are 1027 startups in AR space.

The journey of augmented reality (AR) has been swift, yet its full potential remains untapped. The game-changer? Generative AI. Brace yourselves, as AR is poised to make a powerful comeback, and industry leaders like Meta, Apple, and Microsoft are set to redefine the landscape.

Meta\’s early foray into AR positions it as a key and leading player. The recent announcement of their second version of camera glasses in collaboration with RayBan signals a strategic move in the right direction. However, the real differentiator in this arena won\’t be the hardware – it\’s the software.

Drawing parallels to the PC vs. Operating System era, the aesthetics and weight of the hardware matter, but the software steals the show. With the rise of multimodal generative AI, the direction of AR will be dictated by AI. The market will soon be flooded with AR hardware using OpenAI\’s ChatGPT or Google Gemini services. Meta\’s potential dominance lies in its ability to develop proprietary generative AI that surpasses the competition.
Think Apple\’s Mac – it maintains its high value and uniqueness through the synergy of hardware and macOS.

Use Cases:
Entertainment:
AR will reign supreme in the entertainment industry.
Imagine seamlessly navigating through social media using AR. Watch a music video and effortlessly inquire about the movie or album, the music director, or the location of an old photo.
In the kitchen, let your device scan your pantry, offering recipe suggestions based on available ingredients.

Tourism:
AR devices will revolutionize tourism.
At the Taj Mahal, ask your device about specific historical details. Explore the streets of San Francisco, pause at landmarks, and receive instant historical insights without typing a word.

Shopping:
Your shopping experience is about to undergo a metamorphosis.

Dive into a virtual exploration of products, examining them from all angles. Ask questions and get detailed information as if you\’re physically interacting with the items.

Maintenance:
AR will simplify troubleshooting and maintenance tasks.
A mechanic, armed with an AR device, can diagnose car engine issues effortlessly. Generative AI provides detailed information on the engine, common problems clubbed with specific issues of that particular car and even overlays images to guide technicians through the repair process.

Extend this concept to healthcare – envision surgeons using AR to navigate the complexities of the human body with precision.

A Glimpse into the Future:
On a lighter note, there\’s a flip side. As parents currently worry about screen time, the future concern might be \”glasses time.\” The immersive nature of AR could redefine how we engage with the digital world.
The future of AR is bright, dynamic, and full of possibilities. Get ready to see the world through a new lens! 👓 #AR #GenerativeAI #FutureTechLeaders

Free photo from vecteezy.

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