The technological innovation embodied in new gadgets, disruptive software, intelligent algorithms or machines that in the past seemed to be science fiction has been a fundamental motor throughout the last decade.
Fifty years ago, the Internet, mobile phones, the connected car, the smart home, the MP3 or the tablets would look like otherworldly objects, perhaps dreamed by Jules Verne, Isaac Asimov or H-G Wells. Nowadays they are realities that are part of the everyday life of millions of people, facilitating tasks and optimizing processes, providing entertainment and building bridges for innovation and communication from all over the world. Along the way, there were also promising technologies that ended up being a failure.
The Hype Cycle or Gartner Overexploitation shows the roller coaster ride of emerging technology, from the first public awareness movements to the point of broader adoption and economic viability. Today’s graph, developed by the Visual Capitalist website, is a retrospective look at the trends that climbed the top of the cycle every year from 2000 to 2018.
As the media seeks the next emerging innovation, certain technologies tend to dominate the headlines. Meanwhile, venture capital flows to competing companies to bring technology to the market, valuations increase, marketing departments generate enthusiasm and the expectations of the general public also begin to grow.
A notorious example is the rise of cloud computing, a technology that generated a lot of emotion and that moves a huge amount of money: the divisions of this segment of Microsoft and Amazon earn between 6,000 and 7,000 million dollars per quarter, a figure that continues to grow at a very fast pace. Another paradigm of the hype is constituted by NFC (Near Field Communication) payments, the technology that allows wireless payment and that has completely revolutionized purchases worldwide. In fact, this industry is expected to reach 138,400 million by the year 2023.