I never leave the house without my iPhone. Without it I wouldn’t be able to communicate with friends, use my GPS, or check my bank account.
It’s impossible to imagine a world without smart phones, even though that was the world we lived in ten years ago.
Now Apple (NASDAQ GS: AAPL) thinks it’s found a new technology that will become more important than the iPhone, tech that we won’t be able to live without.
It’s called augmented reality, or AR.
Augmented reality is different from virtual reality in that virtual reality completely immerses users in a virtual world while augmented reality is a reality where computer-generated images are added to users’ daily lives.
Apple CEO Tim Cook thinks that it will eventually become a part of our daily lives, as ingrained as eating three meals a day.
Apple is so dedicated to the tech that it has put a talented team together to work on AR. Bloomberg writes, “the group includes engineers who worked on the Oculus and HoloLens virtual reality headsets… digital-effects wizards from Hollywood… several small firms with knowledge of AR hardware, 3D gaming and virtual reality software.”
It’s possible that the iPhone 8, which is due to be released in fall of 2017, will have some features of AR within its new design, an innovation much needed since the disappointing release of the Apple Watch and the iPhone 7.
Tim Cook isn’t the only one who thinks Apple has a bright future. Warren Buffett just doubled his investment in Apple, making his shares worth over $18 billion dollars. Buffett, who has notoriously shied away from tech stocks, must see long-term value in Apple’s stock, and it’s possible that the AR advancements are part of his renewed interest.
To continue reading more about Apple’s foray into AR, read the Bloomberg article here.