Facial recognition technology is in a negative news cycle, which is exactly what happens when a new technology is diving into the Trough of Disillusionment. Based on the Gartner Hype Cycle, new technologies are hyped up to the point where they seem to be great for almost everything and everyone. Then reality starts to set in, very valid questions are raised and negative news halts the hype.
What happens next? This is the most important part of the story. Technology startups and corporate leaders don’t give up, or ‘wait and see what happens’. Instead, these leaders continue to focus on development, working on the problems and concerns that are raised. They are evolving and focusing the technology on the best opportunities for producing real-world value. The technology eventually moves into the Slope of Enlightenment where initial case studies and pilots start to show promise. Early adopters begin to create value in niche markets. Here’s where we learn about the true potential of a technology.
Early adopters become winners when the technology dramatically changes the landscape of the marketplace like Tesla, or changes the economics of a business like Amazon Web Services, or improves the customer experience of common businesses like Uber and Lyft. If you think a technology is getting a long string of bad press, don’t look away because you may miss the perfect opportunity to catch the next wave of innovation in your market.
N³ Innovation’s mission is to help corporate clients create measurable enterprise value by inventing the future. Clients have generated millions of dollars of revenue in new markets, with new products and new technologies.
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