Are you wondering if it’s time to implement technology now? Do you want to make informed decisions about where to invest technologically? Then the Gartner Hype Cycle is a valuable tool to help you.
In this article, we will delve into the world of emerging technologies. We will discover how the Gartner Hype Cycle can serve as our compass on this journey. From the early stages of innovation through to the full performance of the most promising technologies. We will explore how this cycle represents each technology’s journey to mass adoption.
What is the Gartner Hype Cycle?
The Gartner Hype Cycle is a graphical representation of the maturity and adoption of technologies over time.
Gartner, a leading research and advisory firm, created the Gartner Hype Cycle to help clients make better technology investment decisions.
The hype cycle consists of five phases:
- Launch: In this phase, a new technology emerges that generates interest and curiosity. It often receives a lot of media attention and expectations, but still has few practical applications or proven benefits.
- Peak of inflated expectations: Here, expectations and enthusiasm for the technology reach their peak. There is often a lot of hype and success stories, but it also faces challenges and failures.
- Chasm of disillusionment: This phase reveals the reality and limitations of the technology. There is much disappointment and criticism, and interest and investment decline.
- Consolidation ramp: At this point, the technology is better understood and accepted. There tends to be much experimentation and improvement, and adoption and value gradually increase.
- Productivity plateau: Finally, the technology becomes common and widely used. Here, it reaches maturity, stability and offers a high return on investment.
How to use the Gartner Hype Cycle?
The Gartner Hype Cycle is a tool that can help you understand and navigate the world of emerging technologies. It acts as a framework that allows you to assess the potential and risks associated with each of these technologies as they move towards mass adoption.
Here are some practical steps you can take to get the most out of this tool:
- Identify relevant technologies: Determine which technologies are relevant to your business goals and challenges. You can use sources such as Gartner research reports and industry publications. Also, online platforms are useful for learning about emerging technologies that are gaining momentum.
- Locate technologies in the Hype Cycle: Use Gartner’s annual Hype Cycle reports, which cover a variety of domains and industries, or create your own custom cycle based on your specific needs and criteria.
- Evaluate benefits and challenges: Use the Gartner Value Proposition Matrix to evaluate technologies on four aspects: impact, feasibility, risk and time.
- Decide how to approach each technology: Use the Gartner Priority Matrix to categorise technologies according to their value.
- Plan your actions: Apply Gartner guides, cases or consulting services for effective implementation of your technology choices.
Examples of emerging technologies in the Hype Cycle
Here are some examples of current technologies and their position in the Hype Cycle:
- Artificial Intelligence (AI): AI is the ability to perform tasks that normally require human intelligence, such as image recognition or natural language processing. It is at the Peak of oversized expectations, as it has generated much excitement and innovation, but also faces technical and ethical challenges.
- Blockchain: A distributed ledger technology that secures and verifies decentralised transactions. It sits in the Trough of Disillusionment, due to the scepticism and regulatory hurdles it has encountered. However, it remains a technology with great potential for a variety of sectors.
- Internet of Things (IoT): IoT is the collection of internet-connected devices that can communicate with each other and with other systems. It is on the Consolidation Ramp, as its adoption has expanded in a number of industries, such as manufacturing and healthcare, where it offers benefits such as process optimisation and quality improvement.
- Augmented Reality (AR): AR is a technology that overlays digital information on the physical world, creating an interactive and enriched experience. It is on the Productivity Plateau, having matured and offering high value in sectors such as education and entertainment, where it facilitates learning and entertainment.
Technology Perspectives: Into the Future with the Gartner Hype Cycle
The Gartner Hype Cycle is a useful tool for understanding and navigating emerging technologies. By following its phases and frameworks, you can make more informed decisions about which technologies to adopt, experiment with, watch or ignore. Don’t hesitate to leverage Gartner’s resources and expertise to successfully implement the technologies you choose.
If you would like to further explore the Gartner Hype Cycle and how to apply it to your business goals, please contact us!