When new technologies make bold promises, how do you discern the hype from what’s commercially viable? And when will such claims pay off, if at all? Gartner Hype Cycles provide a graphic representation of the maturity and adoption of technologies and applications, and how they are potentially relevant to solving real business problems and exploiting new opportunities. Gartner Hype Cycle methodology shows how a technology or application will evolve over time, providing a sound source of insight to manage its deployment within the context of your specific business goals.
Customers use Hype Cycles to get educated about the promise of an emerging technology within the context of their industry and individual appetite for risk.
Should you make an early move? If you’re willing to combine risk-taking with an understanding that risky investments don’t always pay off, you could reap the rewards of early adoption.
Is a moderate approach appropriate? Executives who are more moderate understand the argument for an early investment but will also insist on a sound cost/benefit analysis when new ways of doing things are not yet fully proven.
Should you wait for further maturation? If there are too many unanswered questions around the commercial viability of an emerging technology, it may be better to wait until others have been able to deliver tangible value.
Gartner’s 2023 edition of their Hype Cycle for Life Sciences for Commercial Operations, released in July, found that companies prioritize their technology investment into three key areas:
- business growth
- customer experience
- operational excellence.
While Generative AI has created a lot of buzz, companies are using new technologies to accelerate, optimize, and automate their operations, particularly in personalization engines and key account management.
Watch as our Chris Wade AVP Solutions runs you through what you need to know about Gartner and Hype Cycles.