Santander leaving the R3 Blockchain technology consortium is another sign that Blockchain is approaching the ‘Peak of inflated expectations’. Every financial institution has initiatives or Blockchain proof of concepts in progress but industry wide adoption will only be established when the ‘Through of Disillusionment’ phase in the Hype Cycle is passed.
Gartner Inc’s ‘Hype Cycle for Emerging Technologies’ is a framework for many strategists, planners and global market developers to follow technology trends. The Hype Cycle provides a wide cross-industry perspective collected from more than 2,000 technologies. Taken together, the perspectives shape a to-the-point list of trends and technologies that should be considered in developing emerging technology portfolios.
The 2016 Hype Cycle for Emerging Technologies distinguishes three trends that will play an important role in changing the innovation of digital business. The Hype Cycle assists businesses in how they can accurately respond to the rapid technological changes. The key technology trends are:
- Transparently immersive experiences: the accelerating pace of technology innovation will give rise to a transparent connection between people, businesses and things.
- The perceptual smart machine age: the occurrence of so-called ‘perceptual smart machines’ will enable businesses to store a great amount of data to accustom to contingent situations or to solve sudden problems.
- The platform revolution: new platforms continue to arise from emerging technologies. The co-dependent integration of these eco-system platforms support the development of new business models which minimise the gap between humans and technology.
The components of the Hype Cycle are believed to have a great impact on the strategic planning of organisations, enabling an active business culture of competitive advantage.
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