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Lloyds Bank to Use Virtual Reality for Graduate Programme Intake

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Lloyds Bank to Use Virtual Reality for Graduate Programme Intake

Introduction

This article was posted on Thursday, 15:25, UTC.

The Lloyds Banking Group is taking a different approach toward its 2017 graduate intake by using virtual reality to test the reactions of potential candidates.

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Every year, Lloyds receives more than 20,000 applications from graduate applicants. Each of them is seeking a place on one of 14 placements in its Graduate Leadership Programmes. Naturally, undertaking such a mammoth task of going through each of the 20,000 applications takes a lot of time. Not only that, but reading something on paper doesn’t always demonstrate what a person can be like in real life.

lloyds-bank

In order to tackle this issue, the bank has reported that it will be utilizing virtual reality on the candidates who are interested in joining its digital and IT programmes. Each candidate will undertake a virtual reality situation that would not be possible in a conventional test, according to Finextra.

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According to the report, each candidate will be immersed within a 360-degree virtual world where they will be presented with puzzles that have been designed to highlight their strengths and abilities while also pinpointing future leaders.

Chris Jackson, performance, talent & development director, said:

Adopting virtual reality into the assessment process demonstrates the Group’s commitment to digital transformation.

What is VR and AR?

Virtual reality (VR) is a three-dimension, computer-generated environment where a person can explore and interact in a location without physically being there through the use of a headset. In 2014, Facebook, which bought Oculus Rift for billion, was proclaimed as the VR technology that would change everything. It was reported that VR would ‘be used for all sorts of activities from gaming to business and education.’

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Not only that, but according to travel website Expedia, how we travel in the future could all change with the use of VR as virtual reality tours become the holidays of the future. Through the use of a VR tour a person can experience the delights of far-away places without leaving the comfort of their home.

Interestingly, enough, though, a recent New Scientist article questions whether VR will ever have mainstream appeal. According to the article, if you believe the hype, 2016 is supposed to be the year of VR after it burned out in the 1990s. With the likes of Facebook’s Oculus Rift and Sony’s PlayStation VR, recently released, finally on the market, it seems people are thinking of ways how these devices can fit into their lives.

But, even if it does become mainstream, how will people use it? It would certainly be a niche thing for VR to become popular, possibly targeting live sports channels where individuals could watch a game on the sidelines of their favorite team.

Of course, with Mark Zuckerberg, CEO of Facebook, stating that VR will have a slow start before taking off, it’s possible that more attention will focus on augmented reality (AR) instead.

As the opposite of VR, AR provides a user with a view of the real world through a computer-generated image that they can see in real time. Think of the popular Pokémon Go, as what many consider the first AR application to gain mass appeal. This AR app is the first example that connects the physical and digital worlds together.

Of course, while Tim Cook, Apple CEO says that AR and VR could encourage human contact, whether most of us will be sitting down with a headset strapped to our faces or seeing a computer-generated image in real time through AR in the next few years, remains to be seen.

Images from Shutterstock.

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