Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Accenture Uses Smart Glasses by Vuzix Corporation (NASDAQ: VUZI) for Airbus Improvements

By

PrintPRINT

This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

Wearable tech is an exciting new industry that's transforming the way people interact with technology. But until now, wearables have been a small and mostly consumer-facing niche. An obvious area for expansion is in the industrial sector: logistics, remote support, training, and perhaps most of all, manufacturing.

Examples of such applications have so far been surprisingly few. Although many manufacturers use 'wearable' equipment in their processes, they have been slow to adopt the main product of the wearable tech market (as measured by R&D spending): smart glasses.

Smart glasses are a product with obvious potential in commercial industries. They provide a number of obvious benefits to users within large companies, most notably remote viewing, access to critical information and the ability to operate equipment hands-free. The potential applications are practically unlimited: from assembly line manufacturing to high-end engineering and logistics, smart glasses can be used to speed up, streamline and improve physical processes.

And now, we're finally starting to see the real-world proof on the floors of some of the world's biggest companies.

Airbus, Accenture and Vuzix: A Productivity-Boosting Partnership

The potential benefits of wearables in manufacturing were made clear in a recent report by Accenture, "Airbus Soars with Accenture." The report outlined how the two companies were able to develop a wearable tech solution for Airbus's cabin servicing processes that increased productivity by 500%. The main product recommended by Accenture was a smart glass product made by Vuzix Corporation (NASDAQ: VUZI).

Just to provide some background information: aerospace and defense is a highly competitive sector. Firms in the space compete to attract top engineering talent, who are by definition rare and demand safe, comfortable work conditions.

At the same time, these companies compete for lucrative contracts from airlines and other high-ticket customers. There are only so many airlines and militaries in the world to make mass orders of jets, so delivering high quality engineering in the final product is a must.

While client and employee needs vary, the bottom line is that airline servicing workers have to deliver cost-effective solutions meeting impossibly strict safety guidelines, while also providing a safe work environment for employees.

In this space, speed and accuracy are critical to the servicing process. Processes can involve measurements on the smallest scale, requiring laser-sharp attention to detail from employees working in aircraft.

The Results

From the outset, Airbus wanted to help its employees reduce the complexity of servicing cabin seats, and reduce the time needed to complete key work tasks. Accenture proposed a wearable tech solution based on smart glasses.

The end result?

Massive productivity gains for Airbus.

Among the benefits cited in the report, a few standouts include a 500% overall productivity gain, increased employee satisfaction, and improved ergonomics.

It's obvious that wearables can provide massive productivity gains to servicing companies. But until now, only a few 'early movers' have been taking this unexploited sector of the wearable tech marketplace seriously.

Vuzix Inc (NASDAQ: VUZI): Bringing Wearables to the Manufacturing Sector

One example of such a company is Vuzix Inc.

Vuzix manufactures smart glasses and headset solutions for both business and consumer sectors. Its product line includes glasses, complete headsets (with audio), and even a line of smart sunglasses. Most of Vuzix's products are made to interface with drones, so they naturally offer features like 2 way video, advanced optics, and high-definition displays.

Its product line includes (among others):

- The M100, a line of smart glasses with two-way video, real-time information and wearable monocular display. This product won a CES 'best in show' award for Design and Engineering in 2013.

- The M300, enhanced smart glasses for business and enterprise, with voice-customizable control, 16:9 aspect ratio, and wide field of view.

- The M3000 glasses with advanced waveguide optics for hands-free mobile computing.

- iWear personal headphones, a multimedia headset system that boasts multiple CES awards purportedly high performance across across a wide variety of specs. This product is the winner of multiple CES awards.

The company is going after the enterprise market in a big way, touting its products as "the perfect solution for manufacturing, quality assurance, remote support, telemedicine, utility service and warehouse applications." Basically, the company is saying that its smart headsets are the perfect wearable solution for business use. It's a bold claim. But the company has some impressive achievements to back it up.

The company has won 4 CES awards between 2005 and 2017 for product innovation. The market it's operating in has the potential to grow to billions a year in sales, up from just a few million last year. It has received investments and partnership deals from heavy-hitting companies in the tech industry, including Intel.

The potential uses for Vuzix's products are nearly unlimited.

Smart glasses could be used in live training sessions, letting employees interact with information without being distracted.

They could be used in remote support, giving technicians access to key input while focusing on troubleshooting the problem at hand.

They could be used at utility companies, letting workers operate on downed electrical lines without putting themselves in danger.

But perhaps most importantly of all, they could be used in manufacturing, letting workers operate on remote equipment with higher precision than ever before. This is of clear value in technologically sophisticated industries, as is perfectly illustrated in the Accenture/Airbus case study, where productivity gains of 500% were realized.

The industries where this technology could be adopted are unlimited, but ones involving precision engineering (like microprocessors, computer hardware and toolmaking) are obvious candidates. In these industries, wearable tech can be used to increase speed, productivity, and employee safety in complex work environments.

There's no telling how far this will go. The potential applications are unlimited, and the possibility for productivity gains has been shown. The only question is which company will ultimately stand to profit from all of these developments. Vuzix is trying to stake its claim by delivering a wide variety of smart glasses products for consumer and industry use, with particular focus on the enterprise sector.

Summing It All Up

Wearable tech is a new and fascinating product category with potential applications in many industries. As demonstrated in the Accenture/Airbus case study, wearable tech, specifically smart glasses, can deliver measurable productivity gains in manufacturing settings. Vuzix is one of the many companies working to bring these new technologies to the industrial sector on a mass scale, with innovative products that have the potential to change the way we think about engineering.


This article was written by Luke Douglas for on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

< Previous
  • 1
Next >
PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE