in a nutshell
Gartner’s Hype Cycle is a predictive model designed to graphically analyze the evolution of the perceived value of a technology trend or innovation. Following an initial phase of enthusiasm and mass adoption, comes a phase of maturity: the technology has improved, growth has settled, and risk has been zeroed out. A productive quiet after the storm of expectations.
• Marketing: Among the most important applications of the Hype Cycle is marketing. Technologies such as ERP, e-commerce and Virtual Personal Assistant are still going through the “peak of inflated expectations”. Instead, areas of Social Media Marketing are sliding down, toward the “trough of disillusionment”, a settling phase that slows their growth and encourages questioning the transformational potential of the technologies.
• Big Data: Unlike Big Data, the Hype Cycle has no objective or scientific ambitions, but only represents an attempt to analyze a trend. Big Data might still be said to be on the last car of the little train at the apex of the roller coaster, while some technologies involving the use of this information resource, sitting in the lead carriages, have already begun their descent. Such is the case, for example, with data management.
• CRM: Customer Relationship Management leverages technology to automate, organize and synchronize different areas of a company, from marketing to sales. But many of the applications it uses are gradually losing hype, such as Sales Analytics or Price Management.
• Hype Cycle in the automotive industry
Elon Musk is a shining example of a CEO capable of generating expectation for emerging technologies. His often-hyperbolic speeches regarding his vision of the future show a constant aspiration for innovation and growth. Tesla, therefore, constantly rides the crest of the wave thanks to the credibility provided by its visionary CEO.
• Hype Cycle in the E-commerce industry
Unlike Musk, the strategy adopted by Jeff Bezos has been to purposely avoid creating hype. It can be considered a long-term strategy, so investors are willing to wait to reap the benefits. Amazon aims for the constant crossing of new generations of innovation, presenting solutions designed for specific problems. By now, the e-commerce giant is comfortable on the plateau of productivity: ready-to-use technology that delivers relevant products and services to a growing community.
• Hype Cycle in the cybersecurity industry
CyberMDX is a New York-based company that focuses on cybersecurity in the healthcare industry. In 2021, it was included in the Gartner Hype Cycle as a vendor-example in the IoT Security category. The solutions offered prevent network threats and analyze any medical device connected to the Internet of Things system. Inclusion in Gartner’s Hype Cycle can be read as validation of market leadership.
• Hype Cycle in support of NFT purchase
In August 2021, VISA publicized through a tweet that it had purchased for $165,000 a CryptoPunk, one of many mass-produced pixelated avatars. It is not the only company trying to carve out a space for itself in the world of Non-Fungible Tokens, galloping on a global trend that could plummet at any moment.
• Hype Cycle in support of IT services
NVIDIA is a California-based hardware development company. The sophisticated Jetson AGX Xavier development kit enables the creation and implementation of end-to-end robotics applications for manufacturing, retail, smart cities, and much more. Anything involving artificial intelligence can only look down on everyone from the peak of expectations.
• Hype Cycle in support of payments
Payment gateway apps have emerged as solutions to facilitate online payments and meet the e-commerce industry. PayPal, CCBill, and WorldPay function as substitutes for physical cards. Although they are all innovative companies that have been able to enjoy the first mover advantage, PayPal still represents the most hyped provider. Take a stab at guessing who co-founded it.
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