A beneficial approach to the new tech hype cycle

New tech is fun, and it can be exciting to think about all the possibilities. How can it change your business? How can your business be ahead of the curve in adopting the latest and greatest? While keeping your eyes on emerging tech is important, it is even more important to avoid the shiny objects—meaning an exciting new idea, tool, or goal that distracts from current projects and gets in the way of seeing them through to the finish line. 

Recently, we discussed this with Orchid Bertelsen, Head of Digital Innovation for Nestle USA. In order to avoid shiny objects, Orchid uses the Gartner Hype Cycle. The Hype Cycle helps you determine the right time to test new tech.

 

Gartner Hype Cycle

The Gartner Hype Cycle

 

The Hype Cycle highlights the key peak and valley of emerging tech:

Peak of Inflated Expectations

At this point, the tech is new, it’s exciting, and the possibilities are endless. For perspective, take a step back and think about VR for a moment. When the latest iteration of VR arrived, it seemed like a true game changer. The experience was immersive, the simulation so real. How can we use it? How can we NOT use it? The tech was so impressive and loved that people ignored the challenges and potential pitfalls. Enter the:

Trough of Disillusionment

This is the valley once the hype is gone and the challenges start to surface. For VR, it was the hardware. All of the possible ideas for using VR are wonderful, but to make it happen you are tethered to a very powerful computer. How will consumers actually use the tech? How many computers are powerful enough? Now the wild ideas will need to be questioned and thought through more carefully. 

Orchid suggests the right time to test emerging technology is when you are descending through  the Trough of Disillusionment. You will no longer be distracted by the shiny object and you will take into account all of its challenges. 

Watch the full episode of Labs Live as we discuss understanding the “why,” avoiding shiny objects, and selling to your stakeholders.

 

 

Are you assessing how your business will implement new tech? Learn how we can help you navigate the ins and outs with one of our Get Started Engagements.