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The Most Hyped Technology of Every Year From 2000-2018

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Visualizing Technology Hype Cycles (2000-2018)

Nothing captures our collective imagination quite like emerging technology.

In a short amount of time, technological innovations such as wireless internet and social networking have become a ubiquitous part of our everyday lives, quietly transforming the way we live, work, and communicate. Other promising technologies have their moment in the sun, only to fade into obscurity.

Gartner’s Hype Cycle charts the roller coaster ride of emerging tech, from the first stirrings of public awareness to the point of wider adoption and economic viability. Today’s graphic is a retrospective look at which trends scaled the summit of the Hype Cycle each year since 2000.

Reaching the Peak

As the media searches for the next big thing, certain technologies tend to dominate the headlines. Meanwhile, venture capital flows into the companies racing to bring the tech to market, valuations swell, marketing departments generate excitement, and the expectations of the general public begin to grow as well.

One example of this phenomenon at work is the adoption of microblogging. Today, we don’t think twice about posting a tweet or updating our status on Facebook, but a decade ago, the act of posting a short public message was major shift in the way people used technology to communicate with one another. The intense buzz that sent microblogging towards the top of the Hype Cycle is corroborated by Google Search data.

microblogging trend

Living Up to the Hype

A few technologies transcend the hype to transform entire industries. Here are some examples that lived up to their time in the spotlight.

Cloud Computing
Right from the beginning, the analogy of data breaking the shackles of folders and clunky external drives – instead zipping efficiently into the invisible cloud – generated a lot of excitement. It felt like the future of computing, and enterprises and individuals eagerly adopted the technology.

Today, Microsoft and Amazon’s cloud computing divisions each make $6-7 billion in revenue per quarter, and that number is still growing at a brisk pace.

NFC Payments
Near Field Communication – the technology that enables contactless payments – is transforming the way people pay for purchases around the world.

The global contactless payments market is expected to reach $138.4 billion by 2023. Here’s a look at where NFC payments are making the greatest in-roads:

NFC payment by country

The Ones That Underwhelmed

During the Christmas season of 2009, Kindle became the most gifted item in Amazon’s history. This watershed moment looked like the end of physical books as the public embraced the e-reader as the new way of consuming text.

Fast-forward to today, and only 19% of adults in the U.S. own an e-reader.

Of course, not every technology that grabs the headlines is going to become the next iPhone. Here are some others that didn’t immediately meet expectations after topping the Hype Cycle.

m-Commerce
Some concepts fail primarily because they’re ahead of their time. Such is the case with mobile commerce.

By 2001, more than half of Americans owned mobile phones, and this represented a huge opportunity. Unfortunately, early m-commerce was restricted by the limitations of mobile phones of that time period. It wasn’t until the introduction of smartphones that the concept really took off. Today, nearly half of all online transactions are made via mobile devices.

3D Printing
Few technologies reach the fever pitch that 3D printing did in 2012. From the $1.4 billion merger of the largest players in the sector to the reports of firearm blueprints circulating the web, you could forgive people for believing that the 3D printer was destined to become the next microwave. In the end, interest in 3D printing leveled off.

While it is getting used for prototyping in many different industries, it remains to be seen whether the technology will ever achieve the wide consumer-level adoption that was promised.

What’s Next?

When 2019’s Hype Cycle is released later this year, it remains to be seen which technology will rise to the top. Based on the trajectory from last year, search volume, and current news reports, 5G is a strong competitor.

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Data Visualization

Visualizing Internet Suppression Around the World

Freedom of speech on the internet has been on decline for eight consecutive years. We visualize the death spiral to show who limits speech the most.

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Visualizing Internet Suppression Around the World

View the full-size version of the infographic by clicking here

When people think of freedom, they often think it in the physical sense, such as the ability to act and behave in certain ways without fear of punishment, or freedom of movement within one’s country.

When a nation chooses to restrict freedom in the physical world, the results are often hard to ignore. Protests are met with tear gas and rubber bullets. Road checks pop up along transportation routes. Journalists are detained.

In the digital world, creeping control often appears in more subtle ways. Personal data is accessed without us knowing, and swarms of suspiciously like-minded accounts begin to overwhelm meaningful conversations on social media platforms.

The Freedom on the Net Report, by Freedom House, breaks internet suppression down into a number of elements, from content filtering to detention of online publishers. Here’s how a number of countries around the world stack up:

internet freedom by country

According to the report, internet freedom around the world has been falling steadily for eight consecutive years. Today’s graphic is an international look at the state of internet freedom.

First World Problems

At its best, the internet allows us to seek out information and make choices free from coercion or hidden manipulation. Even in countries with relatively open access to information this is becoming increasingly difficult.

In Western countries, internet suppression often rears its head in the form of misinformation and excessive data collection. The Cambridge Analytica scandal was a potent example of how the vast amounts of data collected by platforms and third parties can be used to manipulate public opinion.

The backlash to this data collection by tech companies also produced one of the most promising developments in the past year – the EU’s General Data Protection Regulation (GDPR). While the regulations are not applicable to government and military entities, it does create a pathway to increased transparency and accountability for companies collecting user data.

Control Creep

Around one-third of the people in the world live in countries that are considered “partly free”.

For most users, access to online information may not look too different from the internet experience in Iceland or Estonia, but there are creeping controls in specific areas.

In Turkey, Wikipedia was blocked and social media companies were compelled to censor political commentary. The country had one of the largest declines in internet freedom in recent years.

In Nigeria, data localization requirements have been enacted. This follows the lead of places like China and Vietnam, where servers must be located within the country for “the inspection, storage, and provision of information at the request of competent state management agencies.”

Access Denied

For many people around the world – particularly in Asia – accessing information online is a fundamentally different experience. Content published by an individual can be monitored and censored, and online activity that would be considered benign in Western countries can result in severe real-world consequences such as imprisonment or death.

As today’s data visualization vividly illustrates, China has by far the most restricted internet of the 65 countries covered in the report.

Network operators in the country are obligated to store all user data within the country (which can be accessed by governmental bodies), and are required to immediately stop the transmission of “banned content”. The country is also further cracking down the use of VPNs, which are used to circumvent China’s Great Firewall.

Of course, China is not alone in the desire to implement tight controls over online access. Many places, from Vietnam to Ethiopia, are eager to embrace the “China Model”. The country, which is aggressively ramping up its influence around globe, is more than happy expand its influence through exporting models of governance to new technologies, such as facial recognition.

Meanwhile, in Russia, the popular messaging app, Telegram, was blocked due to its refusal to allow the country’s security service access to encrypted data. This example highlights a growing dilemma faced by tech companies operating internationally – acquiesce to government demands, or lose access to huge markets.

A Tale of Two Internets

Today, there are two prodominant flavors of internet on the menu – the Silicon Valley offering dominated by major tech companies, and the top-down, state-controlled version being spread in earnest by Beijing. It would be a mistake to believe that the former is the clear choice for jurisdictions around the world.

In many countries in Africa, communications infrastructure is still being built out, so assistance from Chinese companies is accepted with open arms.

Our Chinese friends have managed to block such media in their country and replaced them with their homegrown sites that are safe, constructive, and popular.

– Edwin Ngonyani, Tanzania’s Deputy Minister of Works, Transport and Communication

Even though the internet is now three decades old, its form is still evolving. It remains to be seen whether the divergence between free and not free jurisdictions continues to grow.

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Banks

Visualizing the Future of Banking Talent

Banking talent is undergoing a fundamental shift. This infographic explores how banks are adapting to rapid automation and digitization in the industry.

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Visualizing the Future of Banking Talent

View the full-size version of the infographic by clicking here

Many organizations say that their greatest asset is their people. In fact, Richard Branson has famously stated that employees come first at Virgin, ranking ahead of customers and shareholders. So, how do businesses effectively manage this talent to drive success?

This question is top of mind for many bank CEOs. As processes become increasingly automated and digitized, the composition of banking talent is changing – and banks will need to become adept at hitting a moving target.

Six Ways Banks are Becoming Talent-First

Today’s infographic comes from McKinsey & Company, and it explores six ways banks are becoming talent-first organizations:

1. They understand future talent requirements.

43% of all bank working hours can be automated with current technologies.

Consequently, talent requirements are shifting from basic cognitive skills to socio-emotional and technological skills. Banks will need to analyze where they have long-term gaps and develop a plan to close them.

2. They identify critical roles and manage talent accordingly.

It is estimated that just 50 key roles drive 80% of bank business value. Banks will need to identify these roles based on data rather than traditional hierarchy. In fact, 90% of critical talent is missed when organizations only focus at the top.

Then, banks must match the best performers to these roles and actively manage their development.

3. They adopt an agile business model.

Banks will need to shift from a hierarchical structure to an agile one, where leadership enables networks of teams to achieve their missions. As opportunities come and go, teams are reallocated accordingly.

This flexible structure has many potential benefits, including fewer product defects, lower costs, shorter time-to-market, increases in customer satisfaction, and a bump in employee engagement.

4. They use data to make people decisions.

Instead of making decisions based on subjective biases or customary practices, banks will need to rely on the power of data to:

  • Recruit
  • Retain
  • Motivate
  • Promote

For example, company data can be used to develop a heatmap of the roles with the highest attrition rates. Leaders can then focus their retention efforts accordingly.

5. They focus on inclusion and diversity.

Gender and ethnicity diversification leads to higher financial performance, better decision making, higher employee satisfaction, and an enhanced company image.

Industry-leading banks will set measurable diversity goals, and re-evaluate all processes to expose unconscious biases. For example, one organization saw 15% more women pass resume screening when they automated the process.

6. They ensure the board is focused on talent.

Only 5% of corporate directors believe they are effective at developing talent.

To be successful, boards will need to recognize Human Resources (HR) as a strategic partner rather than as a primarily transactional function. The CEO, CFO, and CHRO (Chief Human Resources Officer) form a group of three that makes major decisions on human and financial capital allocation.

CEOs worldwide see human capital as a top challenge, and yet they rank HR as only the eighth or ninth most important function in a business. Clearly, this is a disconnect that needs to be addressed. To keep up with rapid change, banks will need to bring HR to the forefront – or risk being left behind.

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