So far, augmented reality has mainly come via mobile devices and has been used as a marketing gimmick by companies like Ikea, which allowed users to see how the Swedish giant's furniture would look inside their home by scanning the catalogue.
But Mr Osterhout credited Google with bringing the concept of head-worn technology into the mainstream.
He said it would inevitably become part of everyday life, from using facial recognition to remind wearers who they were talking to when they ran into old acquaintances, to providing directions when travelling, to calling for help in emergencies.
He said doctors and other emergency personnel would also be able to immediately identify injuries and recall treatments.
Mr Osterhout said smart glasses for military would also incorporate so-called Doppler technology, which he claimed could see through walls and detect a beating heart from up to 150 metres away.
"Now you don't see their form, you see their beating heart, you see their lungs expanding and contracting as Doppler radar detects movement."
He said the head-worn technology industry could be worth hundreds of billions of dollars.
"Those that are in it and committed to it and do it right will run naked through the streets of opportunity," he said.
See the full story here: http://www.abc.net.au/news/2015-10-14/ralph-osterhout-augmented-reality/6854314