Financial Services Sector Experimenting With VR In Its Practice


The financial services industry is experimenting with virtual reality as a tool to better display data.

Large datasets make up a critical part of effectively running a firm in the financial services sector. Executives at different firms believe that as technology progresses, virtual reality will transform the day to day of an individual in the financial services sector.

For example, traders might be able to more readily see pricing quotes for different stock options through virtual reality.

"I think this is a great emerging area," Vijay Sankaran, TD Ameritrade's chief technology officer, said. "For people who want to work with their finances in a much more visual way. People who want to interact with their advisors. People who want to visit educational resources. Immersive experiences are going to provide much more opportunities and by 2030 be completely game-changing."

Virtual reality has been used in firms before to train employees. Fidelity piloted virtual reality in order to deliver a module that would help employees develop a sense of empathy.

However, it is evident, that firms do not want virtual reality confined to a headset that an individual puts on. Instead, executives want virtual reality weaved into the operational environment of an employee.

"I think the whole notion of putting on a VR headset and doing something is off putting to people," Sankaran said.

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Economics, Finance and Investing