The Virtual Clothing Store of the Future, Where You're the Runway Model
Look out, Amazon. The virtual clothing store of the future will offer a unique shopping experience that blows our current setup out of the water.
Peter H. Diamandis is the Chairman and CEO of the X PRIZE Foundation, which leads the world in designing and launching large incentive prizes to drive radical breakthroughs for the benefit of humanity. Best known for the $10 million Ansari X PRIZE for private spaceflight, the Foundation is now launching prizes in Exploration, Life Sciences, Energy, and Education. Diamandis is also the co-Founder & Executive Chairman of the Singularity University, a Silicon Valley based institution teaching graduates and executives about exponentially growing technologies and their potential to address humanity's grand challenges.
Along with fellow Big Think expert Steven Kotler, Diamandis is co-author of the New York Times best selling hardcover book Abundance—The Future Is Better Than You Think which was #2 on the NYTimes List and #1 on Amazon. Their latest book is titled Bold: How to Go Big, Create Wealth and Impact the World.
Diamandis has founded or co-founded many of the leading entrepreneurial companies in this sector including Zero Gravity Corporation, the Rocket Racing League and Space Adventures. He also counsels the world's top enterprises on how to utilize exponential technologies and incentivized innovation to dramatically accelerate their business objectives. Dr. Diamandis attended MIT where he received degrees in molecular genetics and aerospace engineering, as well as Harvard Medical School where he received his M.D. Diamandis' personal motto is: "The best way to predict the future is to create it yourself!"
Peter Diamandis: Imagine a virtual reality experience where when you go into this virtual reality world, everything looks like it's real and you can navigate around it and begin to do extraordinary things in this high-fidelity world.
At home you will have yourself 3D scanned down to the millimeter. I then enter into a virtual world and I have an AI there that is my shopping adviser. It says, “Peter, what are you looking for?” And all of a sudden in this virtual world, everything I see is in my size, in the colors I want, recommended by this AI. And I can say, you know, "I’d love to see a fashion show." On a runway are avatars of me wearing all these different outfits walking by and I can say I want to see that one and that one. And all of a sudden I’m looking in a virtual mirror and I’m wearing that outfit and I can look around, see what it looks like. And I go, “This is it. I want that.” Boom, it’s produced, manufactured to my exact size probably using 3D-printing capabilities or robotic capabilities that afternoon in the local factory and delivered the next morning and it fits perfectly.
So that’s the future of the virtual retail store, if you would, and why I think virtual reality is going to do effectively a hundred-fold improvement over what the Amazon experience is today.
Tech entrepreneur Peter Diamandis offers one example of how virtual reality as an exponential technology will disrupt the current state of online shopping. Understanding radical technological shifts is a major advantage for individuals and businesses that want to stay a step (or 100 steps) ahead of their peers. And Singularity University’s 2015 Exponential Finance conference, happening June 2 and 3 in New York City, brings together some of the top future-focused entrepreneurs in every field — from finance, to law, to computing, to medicine — to share their discoveries and insights into what’s coming next, and how to turn it to your advantage. Tickets are going fast. Use the code BIGTHINK500 to lock in your seats now, at a $500 discount.
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