This technical note details virtual and augmented reality and how these immersive technologies can be used in business. Specifically, this note highlights several business applications of both virtual and augmented reality—describing each technology’s advantages and disadvantages. Various companies have uncovered new and interesting applications using these technologies, ranging from assisting distribution-center workers to improving learning and development. This note is taught at Darden in the second-year course, “Digital Operations.” It would also be suitable in a course focused on technology strategy covering virtual and augmented reality or a module on the metaverse.