Recently, FAR's Co-founder and CEO, Si Brown, came across a fascinating 'solution' named 'Totem' that promises to help you 'find your friends in a crowd'. However, this innovative solution requires 'additional hardware' for both the seeker and the sought-after individual. The concept is undeniably intriguing!

I wanted to delve into two critical aspects highlighted by this innovation. Firstly, the necessity of 'additional hardware' poses significant barriers to market penetration and widespread adoption, including the need for all users to have an extra device, high product development, manufacturing, and distribution costs, as well as software development hurdles.

These challenges raised important questions in my mind. Who bears the financial burden of these requirements? How durable are the batteries? And who would willingly carry an additional device, even on a lanyard?
In contrast, the VC's, Angels, and the investment community view such solutions as 'cutting edge', 'next generation', and 'future technology'. However, shouldn't they consider the practicality and sustainability of such innovations? How extensively do they research existing market offerings and compare them?

On the other hand, I have observed that AI-driven Exact Location AR technology, particularly under FAR Technologies, presents a compelling alternative. This solution eliminates the need for additional hardware and can seamlessly integrate into any app utilizing location services. They have been helping people to "never get lost in a crowd again" by focussing the user to "stop looking at their phone and start looking through it!"

With their proprietary technology, this solution operates globally, in any environment, in any language, without relying on maps or image recognition software.
In light of these considerations, it is crucial for investors and brands to thoroughly evaluate the feasibility and competitive landscape of 'innovative and new tech' solutions before deeming them as 'forward-thinking' in today's dynamic marketplace.

For further information on how FAR can help you embrace AR, please visit www.f-ar.co or follow @FAR on social media.