This white paper, published by the World Economic Forum, explores the acceleration of augmented and virtual reality (AR/VR) technologies in the wake of the COVID-19 pandemic. The pandemic has led to increased adoption of immersive technologies in various fields, including education, medical training and procedures, virtual events, the arts and entertainment, and upcoming applications and technological breakthroughs. The paper highlights the benefits of AR/VR in education, such as increased student engagement and improved learning outcomes, as well as its potential in medical training and procedures, virtual events, and the arts and entertainment. The paper also discusses the importance of privacy and safety considerations in the use of AR/VR technologies. The paper concludes by noting that the COVID-19 pandemic has accelerated the adoption of immersive technologies and that they are likely to continue to play a significant role in various industries in the future.