By definition, virtual reality takes something that doesn’t exist and gives it context. If that’s difficult to understand, no sweat, because the benefits of it are tangible—including faster project approvals, fewer costly errors, holistic time savings, better client relations, and higher accuracy. And when it comes to features, many companies are evolving the technology faster than users can adapt to it.

While at the International Builders' Show in Orlando, we spoke with representatives from three such companies that are offering the latest in virtual reality. Watch this video to hear from Chantale Pitts, director at Cadsoft; Paul Cardis, CEO of Avid Ratings; and Scott Harris, vice president of sales and marketing at Chief Architect Software, about the benefits virtual reality offers.

Making any change after a building is under construction is bound to cost a lot of time and money. The promise of using virtual reality is that those changes can be identified and averted prior to construction.

According to the MIT Technology Review, "Construction is one of the least automated industries around, and it will be for a long time." But augmented reality might begin to change that. Tools like HoloLens, which places holographic images in its user’s physical environment, could help this $10 trillion business increase efficiency so that fewer projects run over budget and behind schedule.

Gilbane vice president Sue Klawans says HoloLens could also be used before a building is constructed to detect flaws in the way ducts and pipes are laid out in office ceilings—a complicated process that often takes up more room than anticipated—and in building designs that feature glass curtain walls, which sometimes require more than 10 different contractors to fabricate.

The benefits for virtual reality make it incredibly appealing from a time- and cost-saving perspective, and the technology is advancing so rapidly that it only has room to improve.