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The Future of Retail Banking

During your morning workout at the gym, a device on your arm measures each step and connects with…your bank. By monitoring your healthy lifestyle, the bank can then arrange a lower rate on your health insurance. Later, when walking toward your office, you notice an apartment for sale in a neighborhood you have been scouting for real estate deals. So you point your smartphone at the building to view an augmented-reality image superimposed on the building. In turn, you see the price, square footage, and a live link to your bank’s virtual mortgage advisor.

These kinds of scenarios could become commonplace, once banks embrace the opportunities of the Internet of Everything (IoE) era. While today’s digital consumers demand experiences that are relevant to their current context, many feel that banks don’t understand their needs. Contextual interactions may be common when buying books or streaming movies, but customers sense a “value gap” with their banks. And many are willing to trust disruptive innovators from outside the traditional realm of financial services to fill this void.

Banks can keep pace with customer demand by adopting IoE-enabled solutions that offer expert advice, value-added services and convenience, whenever and wherever customers need them — and do so securely. Wearables and augmented reality are among the more forward-looking innovations that banks should be exploring today. But there are many other ways for banks to reconnect with customers.

In a recent Cisco survey of banking customers in 12 countries, respondents were extremely receptive to five core IoE-enabled banking solutions centered on advice (virtual financial advice, virtual mortgage advice and automated financial advice) and mobility (branch recognition and mobile payments). Seventy-five percent would move their money to another provider for one or more of the five concepts. In emerging markets, respondents are twice as likely to move their money.

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In the Beauty Industry, IoE “Lights Up” How People Try On, Wear, and Even Produce Custom Makeup

Connecting Dark Assets: An ongoing series on how the Internet of Everything is transforming the ways in which we live, work, play, and learn.

For months now, I’ve been talking about how the Internet of Everything (IoE) “lights up” dark assets—but I never thought I’d be talking about makeup in that context. Of course, my wife would be quick to point out that many people consider makeup a critical asset, so it’s really not that different from other things whose value increases through the networked connection of people, process, data, and things. Here are three examples: Read More »

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Paper (and Other Things) That Come Alive #TomorrowStartsHere

Here is something fun you can do today with your smart phone or tablet. It’s an app that brings the Internet of Things alive from a newspaper or screen.

How to get it:

1. First, go grab a copy of today’s global Wall Street Journal and find the Cisco TOMORROW Starts Here ad, which is in the center of section A. ( From your computer, you can also print or view a copy of the ad.)

2. Download the Cisco app (available for iPhone, iPad and Android) from Cisco.com/app or from the Apple App Store or Google Play.

3. Start the app and touch the Wake up an Ad icon.

4. Press Start to wake up the ad.

(Again, if you don’t have the actual ad you can also print or view on the screen a copy of the ad from your computer.)

5. Point your phone or tablet at the ad

 

6. Choose “Newspaper Spread” when the translucent overlay appears.

7. Enjoy playing with the interactive experience!

We’ve gotten some fun comments from Cisco employees during the testing, including these two:

 SO cool! My kids actually watched the videos with me (ages 5-1/2 and 4); their verdict: “OOOH, look — the people are MOVING!!!”

Wow! It’s just like Hogwarts!”

Enjoy!

 

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Reality Gets Mixed

The 3D and Virtual Reality Expo (IVR) took place in Tokyo took place last week. IVR is focused on showcasing state-of the-art technology used in the latest 3D products and technologies including ultra-high definition displays, augmented reality, and 3D broadcasting. The big news from the event was the announcement of Canon’s MR (Mixed Reality) system.

Many companies, including Canon of course, leveraged IVR to showcase innovative use cases of the mixed reality headset. From engineer training on assembling an aircraft to interacting with and sitting in a concept car that mostly exists in 3D-CAD solely.

So what makes the MR System more powerful than other augmented and/or virtual reality tools? Read More »

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Augmented Reality in the Drivers’ Seat

Augmented reality (AR) isn’t new but it definitely continues to gain momentum and is becoming a driving force in the way we engage with our content rich world. An AR experience is appealing to most age demographics because it enables us to interact in fresh and engaging ways with a variety of mediums. So no surprise that ABI Research estimates the market for augmented reality in the US will reach $350 million in 2014. That’s up from only $6 million in 2008!

I have explained in past blog posts what AR is in detail, see the below list of blog links to learn more. To recap for those who are new to the concept Wikipedia defines augmented reality (AR) as a live, direct or indirect, view of a physical, real-world environment whose elements are augmented by computer-generated sensory input such as sound, video, graphics or GPS data.

Here is an example of AR solutions that have been generating a lot of buzz and excitement J

At CES this year Mercedes Benz unveiled their experimental networked applications with augmented-reality and gesture-controlled features. Of course Mercedes is not the only automaker exploring how to make the car smarter and most are experimenting with voice controlled features because obviously there are safety concerns with these approaches.

“Cars are becoming platforms to participate in the digital world in a fully networked sense, just like your tablets can and your phones can,” said Venkatesh Prasad, a senior technical leader with Ford Motor Co.’s innovation division. “It’s our job to take those computing services people are used to at 0 mph and make them available at 70 mph.”

For example, icons flash on your car windshield, hologram style, as your car approaches restaurants, stores, historic landmarks or the homes of friends. Point at them, and the icons open to show real-time information such as when that building was built, concert schedules at a local theater, or reservation options at a restaurant. Wave your hand again, and you’ve made a restaurant reservation. Or take Mercedes’ messaging app which will create a menu of text options based on your location and your car’s speed — “I’m stuck in traffic,” or “I’m just north of San Jose” — and display them on the screen. So if you are late to a meeting you can choose from the options  and push a button to post the one that fits, instead of having to manually type the words.

These systems are not road ready yet and most automakers are looking beyond to making the road safer by working on systems that would allow vehicles to talk to each other about road conditions, weather and traffic issues. Read More »

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