Danny Zane, chair of the AIIC (Association for Independent Inventory Clerks) predicts that AR (Augmented Reality) technology will revolutionise the inventory process in the near future. Augmented reality (AR) adds digital elements to a live view often by using the camera on a smartphone. AR differs from VR (Virtual Reality) which offers a complete immersion experience that shuts out the physical world, by allowing you to walk through a real space with added digital elements, such as labelling or text description. Zane believes AR could add a new dimension to inventory reporting within VR, allowing reports to go beyond the 2D/3D picture and offer tenants and landlords the opportunity to walk around their properties in VR whilst damage and a schedule of conditions is pointed out in real time and space.
With the global AR market forecast to reach a value of $70.01 billion by 2023. Investment in AR has steadily increased in the past few years, and more recently, the technology has generated renewed interest from big brands such as Facebook and Apple. Augmented reality allows brands to offer immersive and digital experiences, and to engage consumers in a unique way. Zane, who runs My Property Inventories is convinced this is an obvious next step for the inventory industry: “Right now we rely on labelled photos for accurate, impartial documentation of a properties conditions. Imagine if you could experience walking around a room, zooming in on damage and compare it to the condition before a tenancy began. Augmented reality is the obvious next step forward for independent, impartial inventory reports, those working in the industry would be wise to jump on the bandwagon”, comments Zane who is planning to role out a VR trial as a first step with his own company in the coming weeks: “I am hoping that by investing in the technology to start compiling VR and then AR inventory reports we will stay afoot of the expectations of consumers and keep impartial inventories relevant and important and most important of all, even more usable.”