There are a couple of explicit differences between augmented reality and virtual reality. Augmented reality adds digital elements to the world around you whereas virtual reality creates w hole new reality for the user. Both are similar in the sense that they change the reality of the user.
There are many uses for virtual reality. In business, virtual reality could be used to test prototypes in a safe environment. The computer would be able to simulate a place with normal physics and then the user could create something digitally that they may want to create in real life , but by using VR they are able to make sure it is at least somewhat safe to create. There are already multiple companies that offer VR headsets specifically for business use. These companies include Oculus Rift, Samsung Gear, and HTC Vive.
AR also has business applications. People can create real life models using digital design software and see how there model would look in the real world. It would give people an idea of the look, feel, and size of any model that the user wanted to create. Right now, there is only one real viable source for business AR, and that is the Microsoft HoloLens. Right now it is still on Developer builds but one of their target audiences are businesses who want to build prototypes digitally. Other augmented reality uses that people have proposed include cooking (from the Japanese Institute of Technology) and turn by turn navigation built into cars (from Mishor 3D).