Cemtrex Develops VR Training Application for Cartier
February 05 2020 - 9:10AM
- Cemtrex (Nasdaq: CETX) today announced it has developed for
its customer, luxury retailer Cartier, a fully immersive virtual
reality (VR) training application. The application is designed to
train new and existing retail employees on how to manage complex
and potentially unsafe situations in Cartier’s retail locations.
The VR training application is a more effective way to train
employees that forward-thinking companies are starting to adopt.
According to Fortune, the retention level a year after a VR
training session can be as much as 80%, compared to 20% retention
after a week with traditional training. A recent study from the
University of Maryland shows VR recall accuracy is 12% higher than
desktop training. Companies like Walmart are already experimenting
with VR training and have reported that it boosts confidence and
retention amongst its employees.
Cemtrex’s CEO and Chairman, Saagar Govil, commented, “We are
thrilled to create these groundbreaking VR applications. We believe
this experience is the first of many new upcoming opportunities to
develop training platforms that will improve the way companies both
onboard and train employees. We will be working with Cartier as
well as with other brands to build more virtual reality training
solutions, as we see tremendous opportunity in this market.”
Augmented and Virtual Realities are among of the fastest growing
business areas, which are expected to reach over $500 billion by
2025. According to Greenlight Insights, the projected spending on
AR/VR training is 2.2 billion by 2022. Cemtrex is currently working
with leading brands to help create VR training experiences that can
improve employee performance.
About Cemtrex
Cemtrex, Inc. (CETX) is a diversified technology company that's
driving innovation in a wide range of sectors, including smart
technology, virtual and augmented realities, advanced electronic
systems, industrial solutions, and intelligent security
systems.www.cemtrex.com
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