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Tell me what you think. I'm thinking a 2 - 3 yr time frame. stock is under $2 now.
Wearable Computers Working For Many Indus -Conf. Speakers
By: Ann Keeton, Of DOW JONES NEWSWIRES
CHICAGO -(Dow Jones)- Wearable computers have made the transition from futuristic gadgets featured in science-fiction movies to business tools that pay for themselves in a few months, Edward Newman, president and chief executive ofADVERTISEMENT
Xybernaut Corp. (XYBR) said Thursday.
Newman and other corporate executives presented information at the seventh international conference on wearable computers here, this year for the first time folded into COMDEX, the technology exhibition.
Xybernaut, a Virginia developer of hardware and software for wearable computers, has technology that turns a desktop personal computer into a lightweight, wireless, fully portable communication device.
Pilot projects in 2001 included successful work with a variety of major U.S. corporations. In addition, said keynote speaker Newman, who worked for both Xerox Corp. (NYSE: XRX - news) (XRX) and the Central Intelligence Agency before founding Xybernaut, wearable computers are showing up everywhere from government Homeland Security projects to special education classes in an Akron , Ohio , school to waiters on board the Crystal Harmony, a luxury cruise ship.
Newman said industry analysts see the wearables - in the form of small boxes that use headsets and eyeglasses for audio and video communication - comprising a global market worth trillions of dollars in just a few years.
At his own company, he said, "it will take another year or so to establish all the beachheads" in industries where he expects wearables to bear fruit.
Xybernaut Wednesday reiterated its growth expectations for 2002.
Newman said Xybernaut is working with hundreds of companies, many of whom are reluctant, for competitive reasons, to talk about test results using wearable computers.
Executives from companies who have tested the devices say field technicians and other workers already use a variety of high-tech paraphernalia, including mobile phones, laptops, palm-held devices, digital cameras and global positioning equipment.
Brad Chitty, general manager of mobile communications at Bell Canada , said for some workers last year, the telecom company replaced all those devices with a single wearable unit.
In a test with service technicians, Bell Canada made substantial cost savings, giving technicians instant access to needed information at the job site. As well, Chitty said, for the technicians, "it's turned a job into a career opportunity," as they are able to sell additional services to customers.
Desktop computers have boosted productivity for white collar workers. For workers out in the field, the potential for increasing efficiency with wearables is even greater, Newman said.
Gary Stansbury, manager of business development for Global Installation and Field Services at General Electric Co . (GE), said field engineers formerly used radio communication to stay in touch as they installed new turbine engines in power plants. Now, he said they can wear head-mounted display units that use voice recognition. Since the spring of 2001, the company has saved $2.2 million in an initial test. This year, it will expand its 40-unit test program to include 400 wearables.
At FedEx Corp. (FDX), Dave Slonim, vice president of airline maintenance, said the company has given wearable computers to some mechanics, who can use them to input and access complex airplane maintenance data as required by the Federal Aviation Administration. That's a big job, since the company operates 19,000 flights per day worldwide. Using wearables, mechanics don't have to travel back and forth from a central maintenance facility to the plane they're working on. The program will be expanded beyond a test site in Indianapolis , he said.
"We expect cost savings and we expect to get a competitive advantage," he said. His one criticism: the batteries that power the wireless units don't last long enough. But, he said all other technology is working well. "I expect to see a lot more progress shortly."
Rick Hay, a director of International Truck and Engine Corp., a unit of Navistar International Corp. (NAV), said factory inspectors there are older and were slow to adapt to new technology, but have quickly embraced the wearables.
"It takes 3.5 minutes to inspect a truck. In the past, when inspectors found a defect, they had to write down data on paper and then put it into a computer. Sometimes it would take two days to get a response," he said.
Now, not only do inspectors get real-time answers as to how to fix problems, but they also contribute to a database that helps improve the manufacturing companywide process, he said.
Aerospace company Boeing Co. (NYSE: BA - news) (BA) tested wearables both in its design facilities and on the manufacturing floor, said Jim Lind, director of planning. "I like technology that actually works," he said.
Cost savings with wearable computers have been so solid that Boeing has built them into its budget for a military craft, the X-32, and a commercial airplane, the Sonic Cruiser.
Wearable Computers Working For Many Indus -Conf. Speakers
By: Ann Keeton, Of DOW JONES NEWSWIRES
CHICAGO -(Dow Jones)- Wearable computers have made the transition from futuristic gadgets featured in science-fiction movies to business tools that pay for themselves in a few months, Edward Newman, president and chief executive ofADVERTISEMENT
Xybernaut Corp. (XYBR) said Thursday.
Newman and other corporate executives presented information at the seventh international conference on wearable computers here, this year for the first time folded into COMDEX, the technology exhibition.
Xybernaut, a Virginia developer of hardware and software for wearable computers, has technology that turns a desktop personal computer into a lightweight, wireless, fully portable communication device.
Pilot projects in 2001 included successful work with a variety of major U.S. corporations. In addition, said keynote speaker Newman, who worked for both Xerox Corp. (NYSE: XRX - news) (XRX) and the Central Intelligence Agency before founding Xybernaut, wearable computers are showing up everywhere from government Homeland Security projects to special education classes in an Akron , Ohio , school to waiters on board the Crystal Harmony, a luxury cruise ship.
Newman said industry analysts see the wearables - in the form of small boxes that use headsets and eyeglasses for audio and video communication - comprising a global market worth trillions of dollars in just a few years.
At his own company, he said, "it will take another year or so to establish all the beachheads" in industries where he expects wearables to bear fruit.
Xybernaut Wednesday reiterated its growth expectations for 2002.
Newman said Xybernaut is working with hundreds of companies, many of whom are reluctant, for competitive reasons, to talk about test results using wearable computers.
Executives from companies who have tested the devices say field technicians and other workers already use a variety of high-tech paraphernalia, including mobile phones, laptops, palm-held devices, digital cameras and global positioning equipment.
Brad Chitty, general manager of mobile communications at Bell Canada , said for some workers last year, the telecom company replaced all those devices with a single wearable unit.
In a test with service technicians, Bell Canada made substantial cost savings, giving technicians instant access to needed information at the job site. As well, Chitty said, for the technicians, "it's turned a job into a career opportunity," as they are able to sell additional services to customers.
Desktop computers have boosted productivity for white collar workers. For workers out in the field, the potential for increasing efficiency with wearables is even greater, Newman said.
Gary Stansbury, manager of business development for Global Installation and Field Services at General Electric Co . (GE), said field engineers formerly used radio communication to stay in touch as they installed new turbine engines in power plants. Now, he said they can wear head-mounted display units that use voice recognition. Since the spring of 2001, the company has saved $2.2 million in an initial test. This year, it will expand its 40-unit test program to include 400 wearables.
At FedEx Corp. (FDX), Dave Slonim, vice president of airline maintenance, said the company has given wearable computers to some mechanics, who can use them to input and access complex airplane maintenance data as required by the Federal Aviation Administration. That's a big job, since the company operates 19,000 flights per day worldwide. Using wearables, mechanics don't have to travel back and forth from a central maintenance facility to the plane they're working on. The program will be expanded beyond a test site in Indianapolis , he said.
"We expect cost savings and we expect to get a competitive advantage," he said. His one criticism: the batteries that power the wireless units don't last long enough. But, he said all other technology is working well. "I expect to see a lot more progress shortly."
Rick Hay, a director of International Truck and Engine Corp., a unit of Navistar International Corp. (NAV), said factory inspectors there are older and were slow to adapt to new technology, but have quickly embraced the wearables.
"It takes 3.5 minutes to inspect a truck. In the past, when inspectors found a defect, they had to write down data on paper and then put it into a computer. Sometimes it would take two days to get a response," he said.
Now, not only do inspectors get real-time answers as to how to fix problems, but they also contribute to a database that helps improve the manufacturing companywide process, he said.
Aerospace company Boeing Co. (NYSE: BA - news) (BA) tested wearables both in its design facilities and on the manufacturing floor, said Jim Lind, director of planning. "I like technology that actually works," he said.
Cost savings with wearable computers have been so solid that Boeing has built them into its budget for a military craft, the X-32, and a commercial airplane, the Sonic Cruiser.
