New York , Dec. 22, 2020 (GLOBE NEWSWIRE) -- Tech Capital, the trusted source of technology news and analysis, is highlighting recent comments from CEOs of Zoom, Microsoft, NexTech AR Solutions, 8X8 Inc and RingCentral discussing the revolution in communication that has taken place in 2020.
Web-based video conferencing software has transformed the workplace, while innovation in the field of virtual and augmented reality (AR/VR) is doing the same for e-commerce, education and events.
Global spending on AR and VR is predicted to hit almost $73 billion by 2024, according to the International Data Corporation. This represents a five-year compound annual growth rate of 54%. “2020 has become a major turning point where enterprises and organizations across all verticals are embracing the unarticulated need for augmented, mixed, and virtual reality,” the IDC report concludes.
Zoom Video Communications Inc (NASDAQ:ZM) founder and chief executive officer Eric Yuan says people and organizations are “actively redefining and embracing new approaches”
“As remote work trends have accelerated during the pandemic, organizations have moved beyond addressing immediate business continuity needs to actively redefine and embracing new approaches to support a future of working anywhere, learning anywhere, and connecting anywhere. And we continued to see meaningful adoption of Zoom's video-first unified communication platform across industries and geographies.”
Microsoft Corp (NASDAQ:MSFT) chief executive officer Satya Nadella on the “new virtual commute” and Teams in education and sport
“[The] new virtual commute gives structure to a remote workday with scheduled cognitive breathers, and Together Mode is helping employees at companies like Office Depot reduce video fatigue. More broadly, we are accelerating our innovation across Microsoft 365. New Microsoft Stream is the video platform for the enterprise, making it easy to create, share and discover videos at work.”
Nadella added…. “In education, nearly 270,000 institutions are using Teams to power remote learning and improve learning outcomes, including the University of Nottingham in the U.K., Morehouse College, the University of South Florida and some of the largest school districts in the United States like Miami-Dade County Public Schools. In sports, the NBA and NFL are reimagining the game-day experience for fans.”
NexTech AR Solutions Corp (CSE:NTAR) (OTCQB:NEXCF) CEO Evan Gappelberg on transforming the virtual exhibition space
NexTech AR has gone a step further than the two titans of video communications by rolling out virtual and augmented reality solutions for e-commerce, education, conferences and events. Last week it announced the Canadian Institute of Mining, Metallurgy and Petroleum had chosen the InfernoAR Experience platform to power the 2021 Virtual Convention + Expo in May 2021.
NexTech will be transforming virtual exhibitor booths into AR-backed experiences that, for the first time in the event’s history, will put large and complex technologies right in your pocket through a phone or mobile device. Speaker sessions, which will feature special guests and surprise experiences, will utilize multi-dimensional broadcast solutions instead of simple webcasts to engage attendees in discussions on how new components including AR and data are revolutionizing mining processes.
“We are excited that CIM selected Nextech to help the mining industry take the giant step into a new world of digitized education and experiences by using our cutting edge InfernoAR solutions,” said Evan Gappelberg, CEO of NexTech AR. “We will be transforming virtual exhibitor booths into AR-backed experiences that, for the first time in CIM event history, will put large and complex technologies right in your pocket through a phone or mobile device, which is huge."
Gappelberg continued…. “Speaker sessions will feature special guests and surprise experiences and will utilize multi-dimensional broadcast solutions instead of simple webcasts to engage attendees in discussions on how new components including AR/AI and data are revolutionizing mining processes. He continues “CIM is helping to change how mining professionals in even the most remote locations across the globe, gain access to new insights and solutions and we’re thrilled to help power that vision with our virtual experience platform.”
8x8 Inc (NYSE:EGHT) chief executive officer Dave Sipes: “The cloud and work from home are transforming business communication”
“The cloud and work-from-home are transforming business communications for every employee and customer touchpoint, and have become a critical focal point for building competitive advantage for businesses today. 8x8 is well positioned with its Open Communications Platform, which provides a wide breadth of integrated communication tools to power businesses’ critical cloud communications needs. This company has the opportunity to be central to the transformation of work.”
RingCentral Inc (NYSE:RNG) founder, chairman and chief executive officer Vlad Shmunis: “Cloud communication a core tenet for business continuity”
“With a substantial part of the global workforce continuing to work from home, we see that cloud communication solutions are becoming a core tenet of business continuity. RingCentral's importance to all customers for their communication and collaboration needs continues to increase. Leveraging these megatrends, we delivered a solid third quarter. We saw continued strong adoption of RingCentral as our customers are going through their digital transformation journeys, and the numbers are there to prove it.”
Shmunis on the new “hybrid world”…..“Covid has been a tailwind for us as legacy on-premise solutions are now simply inaccessible by most employees. But let's look ahead, in the post-COVID world, we don't expect things to go all the way back to the way they were at the end of 2019. Businesses are already planning for a hybrid world, where part of the workforce will continue to work from home for the foreseeable future. RingCentral is uniquely positioned to address this new world of work via a differentiated ecosystem of strategic partnerships with major on-premise system vendors, as well as, a number of leading global carriers.
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