Digitising Retirement & Financial Learning - The next level?
In a recent article, I discussed the way video has become the new print and how attention spans for most people but most notably in Millenials (also known as Gen Y: Born 1977 – 1995) and Gen Z (also known as iGen, or Centennials: Born after 1996) are on the decline. In our data driven society, people much rather prefer watching a 30 second video to reading an article with the same information in 2 minutes.
The same can also be said for how people want to learn and be trained.
Imagine for a moment trying to train a group of people on retirement and financial planning – perhaps not the most exciting of topics for them but an extremely necessary one.
Imagine also herding them into a classroom type environment with PowerPoint slides and graphs.
Also imagine you can hold their attention long enough whilst they are checking emails and social media on their smartphones under the table during the presentation.
If you can imagine this to end up in a successful session with them having learnt what you wanted to teach them, you may just be living in a world of imagination!
Time for change?
Perhaps it’s time to change the learning experience and move on to the next level, that of VR, AR and MR.
Millennial and Gen Z’s reading this article will immediately know what I’m talking about. For the benefit of the “more experienced generations” these acronyms stand for Virtual Reality (VR), Augmented Reality (AR) and Merged / also called Mixed Reality (MR).
Virtual Reality (VR)
VR has been around a few years now where you pop on a headset holder for a smartphone which you insert into it and enter into an immersive, digital, 3-dimensional and 360 degree world. For some people the experience is initially a little disorientating but once used to it, an amazing digital world opens up to you.
This platform is ideal for watching 3-D movies and playing games and could with some creative software development be an ideal platform for learning various concepts simulated in a digital 3-D world.
An interactive game with a financial / retirement planning undertone in which the player follows different paths leading to either a positive or negative conclusion and in the case of the latter, being able to backtrack and see where things went wrong, could be a powerful and memorable experience.