Understanding the hype cycle of new technologies is a key advantage in business [Video]

In the current climate, there is much hype about generative AI (GenAI) and large language models (LLMs).

But what happened to all the technologies that were hyped up before GenAI?

According to some, they are all “dead”.

It seems we live in a very simplistic world where a technology is hyped and then dies and then what?

This is where things get interesting from a business perspective.

Domhnaill Hernon, global lead, EY Metaverse Lab, says understanding the hype cycle in technology could be the advantage a business needs when determining the right time to make certain strategic investments.

“Deciding which technology could transform your business and which ones give you little return on investment is critical to continued business success,” he says.

The hype cycle is attributed to Gartner, which is thought to have introduced the concept as far back as 1995 — pre-internet.

It is a maturation cycle all emerging technologies go through, incorporating ‘The Peak of Inflated Expectations’, …