Mahanadi Coalfields Ltd (MCL), a subsidiary of Coal India, has announced that it will be providing virtual reality (VR)-based safety and operational training to its 17,000-strong workforce. The company has allocated a budget of Rs 6.5 crore for skill enhancement among coal miners.
The introduction of VR-based training will assist in "digitalisation in business processes," MCL said. Concoct Human Resource Practitioners [CHRP] a Hyderabad-based VR technology company, has been given the contract for providing safety training to workers.
The 3D simulated VR platforms are envisaged to provide safety training to the workers before they take up jobs in the coal mines and workshops while reducing exposure to hazardous activities. The company also said that VR-based training for the workers will help in saving costs and time.
Om Prakash Singh, chairman and managing director of MCL, said that regular training and upgradation of skills is required by leveraging cutting-edge technologies to match the introduction of new technology in the mining sector. This sentiment rings true across all industries, as the pace of technological change continues to accelerate.
XR training, which includes both virtual reality (VR) and augmented reality (AR), is becoming increasingly popular across a range of industries. This is because it offers a number of benefits over traditional training methods. For example, XR training can help to reduce the number of accidents and injuries in the workplace by allowing employees to practice hazardous activities in a safe, simulated environment.
In addition to improving safety, XR training can also increase productivity. One study found that employees who received XR training were 4 times faster at learning a new task than those who received traditional training methods. This is because XR training is more engaging and interactive, allowing employees to learn by doing rather than just listening.
Another major advantage of XR training is that it can save costs. Traditional training methods can be expensive, especially when it comes to travel and equipment costs. With XR training, employees can access training from anywhere, at any time, using just a VR headset or a smartphone.
Overall, the benefits of XR training are clear. It improves safety, increases productivity, and saves costs. As such, it's no surprise that XR training is being increasingly adopted across a range of industries. In fact, according to a report by MarketsandMarkets, the XR training market is expected to grow from $11.6 billion in 2020 to $56.1 billion by 2026, representing a compound annual growth rate (CAGR) of 34.6%.
XR training is the future of employee training and development. As technology continues to evolve, so too must our training methods. XR training offers a range of benefits over traditional training methods, including improved safety, increased productivity, and cost savings. As such, it's likely that we'll see XR training upending all other industries in the years to come.