The Reality in Virtual Reality: A Conversation with Practitioners at MIT Enterprise Forum of NYC

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1 The Reality in Virtual Reality: A Conversation with Practitioners at MIT Enterprise Forum of NYC On December 1, Fung Global Retail & Technology attended an event called The Reality in Virtual Reality: A Conversation with Practitioners, which was presented by the MIT Enterprise Forum of NYC and hosted by Microsoft. 1) Virtual reality (VR) is revolutionizing medicine by allowing surgeons to use virtual-imaging technology to determine surgery trajectory before operating. 2) VR is creating new worlds online. More than 1 million students have posted virtual field trips on Google Expeditions, and educators and communities are using Google Classroom to inspire students. 3) No longer just for entertainment, VR is becoming more mainstream and democratized. There are opportunities to make VR more functional by including audio and improving reading capabilities. Executive Summary Reality in Virtual Reality: A Conversation with Practitioners was an interactive and educational event that included networking and demonstrations from leaders in the industry, followed by a panel discussion moderated by Professor Ken Perlin of New York University s (NYU s) Media Research Lab and a keynote presentation from John Golfinos, MD, Associate Professor and Chairman at NYU s Department of Neurosurgery. The event was attended by approximately 100 academics, analysts, consultants and entrepreneurs. VR has moved well beyond entertainment, and is becoming more mainstream and democratized. It is revolutionizing medicine, enabling surgeons to use virtual-imaging technology prior to surgery to determine the trajectory for operating on a patient s tumor. VR is also spurring students imaginations and allowing educators to teach about the world, science and the planet using applications such as Google Classroom and Google Expeditions. The future of VR is primed for creating a more functional user experience. 1

2 DECEMBER 5, 2016 Virtual Reality Is Advancing Medicine by Informing Surgery Dr. John Golfinos, Associate Professor and Chairman of the Department of Neurosurgery at NYU, gave the evening s keynote presentation. Dr. Golfinos performs brain surgery, and he described how VR is revolutionizing his practice by allowing his team to view the brain in three dimensions. Previously, CAT scans and MRIs allowed for viewing the brain in only two dimensions. 2

3 Dr. Golfinos and his team are using technology made by Surgical Theater, a VR-focused company that used fighter-jet-simulation engineering to redefine medical imaging and visualization capabilities. Dr. Golfinos uses Surgical Theater s VR-imaging technology prior to surgery to determine the trajectory for operating on a patient s brain tumor. The technology is also used in the operating room, and it is accurate within 1 millimeter. Surgical Theater s technology is being used to educate new surgeons, too, as the teaching opportunities using VR are very valuable. VR allows educators endless ways to show students the possibilities with virtual images, which is preferable, in many cases, to the traditional teaching method of using a cadaver, which has high costs and obvious limitations. Dr. Golfinos said that VR has helped his team determine the safest way to approach a tumor and to walk through an operation through simulations from beginning to end. He said that the era of the master surgeon is coming to an end because technology has leveled the playing field. He also said that in the not-too-distant future, he envisions a time when surgeons like him will use a mix of augmented reality (AR) and mixed reality and wear x-ray specs to see a patient s tumor. He added that VR will also further enable telemedicine, and that doctors may eventually be able to operate on patients from a distance. VR Is Inspiring in the Classroom Google Classroom and Google Expeditions are using VR to change how we learn. Jennifer Holland, Program Manager at Google Apps for Education, and her team built Classroom and Expeditions from the ground up by prototyping and testing extensively with teachers and students in schools around the world. Google Classroom uses technology as an immersive way to engage with students, and enables them to learn about the world, science and anatomy in 3D. With the platform, students can see an Egyptian pyramid, a molecule and a rainforest, all in 3D. Google Expeditions uses the company s educational VR field-trip platform to take students around the world without them having to leave the classroom. More than 1 million students have posted virtual field trips online on Google Expeditions. Holland said that Google purposely built its cardboard VR glasses without a strap so that students could easily pull the glasses down and engage, laugh and learn. She said that VR creates an enviroment where students are teleported, and that it is as if they are almost in the remote locations. Holland said that she believes the VR experience enhances the classroom experience and allows individuals to think about things in a way that a textooks do not allow. She said that the real magic happens when the VR world connects with a location that the class has read about. She noted that everyone learns differently, and that VR allows for more dynamic, engaging experiences. VR Is More Mainstream, Democratized and Functional VR is quickly becoming more mainstream and is no longer just for entertainment. Panelist and presenter Debra Anderson, Cofounder of Datavized which built the world s first immersive visualization platform for the 3D Web said that the company is designing a platform built for smartphone-ready experiences and an Internet broswer. 3

4 She said that the company wanted to build a natural platform for quickly sharing VR experiences and that it wanted to democratize the experience. Datavized makes software tools that give nontechnical users advanced capabilities to bring their data to life in 3D and easily visualize, analyze and share date-driven insights. The company s WebVR software is engineered to be experienced in 2D and 3D platforms, so that users can access it using any VR/AR technology. That way, the experience can be accessed and shared by a broad user base, Anderson said. Dativized is partenering with the Yale School of Medicine, the NYU School of Medicine and the National Film Board of Canada. The company demonstrated its VR technology at the MIT event using both an advanced headset and a cardboard headset and smartphone. Sophia Dominguez cofounded SVRF, which created the first search-and-discovery engine for VR content. Dominguez said that approximately 60% of the current VR content is bad, and that that is unfortunate because VR still requires the user to work in order to experience it. The panelists were in agreement that the future is ripe for increasing the functional capabilities of the VR user experience, and they highlighted that audio and reading are both significant areas of opportunity. Some participants felt that, because VR is often experienced alone, further future opportunity lies in creating more shared VR experiences via a platform and shared communciation experience. 4

5 Deborah Weinswig, CPA Managing Director Fung Global Retail & Technology New York: Hong Kong: China: Erin Schmidt Research Associate HONG KONG: 8 th Floor, LiFung Tower 888 Cheung Sha Wan Road, Kowloon Hong Kong Tel: LONDON: Marylebone Road London, NW1 6JQ United Kingdom Tel: 44 (0) NEW YORK: 1359 Broadway, 9 th Floor New York, NY Tel: FungGlobalRetailTech.com 5

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