As YouTube's popularity attests, people like video. Manufacturing executives are no different, particularly when they discover the real business value associated with using state-of-the-art video technology to host virtual meetings and enhance collaboration.
Companies in the United States and the United Kingdom will save nearly $19 billion between now and 2020 by deploying a form of videoconferencing known as telepresence, according to a recent study conducted by Verdantix, a London-based firm that specializes in analyzing sustainable business practices. Verdantix also noted that U.S.- and U.K.-based businesses with more than $1 billion in annual revenue could cut their combined carbon dioxide emissions by nearly 5.5 million metric tons, the amount of greenhouse gas emitted by 1 million passenger vehicles, over that same 10-year span by using telepresence in lieu of face-to-face meetings.
But, while telepresence offers significant potential benefits, it also carries a high price tag and may present bandwidth challenges to existing corporate networks. Manufacturers looking at the technology should consider both issues before buying into telepresence.
Telepresence, as the name implies, involves the use of sophisticated video technology to create a virtual in-person meeting experience. In 2005, HP launched a telepresence system in collaboration with DreamWorks, the Hollywood studio known for producing popular animated films such as the Shrek series.