Immersive technologies such as augmented reality (AR) and virtual reality (VR) offer exciting opportunities for human computer interaction and new business cases. AR and VR are predicted to have a huge impact in various industries from tourism, entertainment, retail, sports, education to health and will most likely change the way enterprises do business. In this talk, we will explore the potential benefits of AR and VR for businesses by presenting use cases in various industries. We will look at key challenges as well as business opportunities through the combination of AR and VR and other emerging technologies including artificial intelligence, Internet of Things and Big Data in the context of industry 4.0. The talk will end with suggestions how businesses can harness the power of AR and VR by focusing on the way these immersive technologies can improve quality of life and enhance work efficiency.