Tech Races on as Funding, Sales, and Innovations Grow
Emerging Tech Roundup — July 1
The Quantious team’s top picks for timely trending news in the tech world.
This week in tech: Facebook is on track to sell 8 million Quest 2’s, a Virtex Stadium is expected in 2021, new findings pave the way for VR therapy, a monopoly complaint against Facebook is dismissed by the judge, Amazon turns to robots to hire and fire drivers, Virti raises $10M to better VR training, ‘Rec Room’ is expected to release on Android devices this fall, and Facebook enhances their Habitat Environment into ‘Embodied AI’.
Facebook Could Sell 8 Millon Quest 2’s in the First Year
(Barron’s, June 28)
Judging from the sales of 5 million-6 million units to date, Facebook is predicted to sell over 8 million Quest 2’s in their first year of release. Evercore ISI analyst Mark Mahaney predicts Quest 2 to be the “first mainstream headset” and foresees Facebook bringing in about $2.4 billion in revenue as a result. This makes up about 3% of their total revenue and Mahaney expects even more growth, as Facebook has substantial investments planned in VR.
Virtex Stadium: An Esports VR World, Coming 2021
(VR Focus, June 28)
The Virtex Stadium is coming in 2021, will support Oculus and SteamVR headsets, and is capable of holding up to 200 users in an arena. Users will be able to watch matches, games, and events together in real time, as well as immerse themselves into the simulations. The stadium will also include a lobby, holding up to 50 users at once.
Virtual Reality Boosts Brain Rhythms Crucial For Neuroplasticity, Learning and Memory
(Neuroscience News, June 28)
A new discovery in rats shows that the brain responds differently in immersive virtual reality environments versus the real world. Virtual reality enhances theta and eta waves in the hippocampus, improving memory, learning and neuroplasticity. To understand its role in learning and memory, the hippocampus has been extensively studied in rats as they perform spatial navigation tasks. These new findings can help pave the way for “virtual reality therapy” for learning and memory-related disorders ranging including ADHD, Autism, Alzheimer’s disease, epilepsy and depression.
Judge Dismisses Antitrust Cases Brought Against Facebook
(Upload VR, June 28)
In December, the US Federal Trade Commission filed a complaint against Facebook, accusing them of being a monopoly over social networking. The complaint has just been dismissed by judge James Boasberg as it “failed to provide enough facts to back its claims.” Another component contributing to the dismissal of the complaint is the extended amount of time that has elapsed since “key acquisitions” of Facebook-owned companies in 2010.
Amazon Turns to Specialized Algorithms to Hire and Fire Subcontracted Drivers
(Bloomberg, June 28)
In addition to all of the algorithms used throughout their business model, Amazon uses robots to evaluate the performance of their delivery drivers. This specific algorithm monitors metrics including delivery timing and special requests for package drop-offs, and then decides which drivers to prioritize when assigning orders and which are terminated. However, some drivers claim that they were wrongfully terminated for incidents that were out of their control, such as weather complications or locked/gated complexes, posing a potential problem in Amazon’s algorithm for the future of their business.
Training Platform Virti Raises $10M to Teach Soft Skills in VR
(Tech Crunch, June 29)
Virti platform works across devices other than just VR/AR headsets, to capture and analyze data on employee performance. Organizations can build their own modules for training employees and execute them with the cloud-based platform. Virti is said to improve training impact by 230% and has raised $10 million from various venture capitalist funds. Thus far, the Virti platform has increased revenues by 978%.
Social VR Platform ‘Rec Room’ to Release on Android Devices This Fall
(Road to VR, June 29)
Rec Room is set to launch on Android devices free of cost and is open for pre-registration. The social VR platform will feature cross-play with various platforms including iOS, PlayStation, Xbox, Steam, and Oculus Quest. Other features include multiplayer co-op adventures, and capabilities for users to create rooms and avatar accessories. Users can sell creations for in-game tokens, which can now be converted into cash.
Facebook Updates Habitat Environment to Train ‘Embodied AI’
(Venture Beat, June 30)
Facebook’s AI Habitat simulator can now perform more complex tasks at a speed that is 100 times faster than it previously could. 3D artists were hired by Facebook to create the enhanced, ‘Embodied AI’ over the course of 900+ hours. The improved robot, once trained, can complete tasks around a living or work space with speed, such as checking if a door is locked, tidying up a house, and stocking cabinets.
