FaZe Clan is positioning itself more like a Vice than a Barcelona F.C in the sense that as much as it has an esports team, it wants to be an entertainment business. The post ‘Esports isn’t lucrative in the near term’: FaZe Clan CEO’s endgame for gaming appeared first on Digiday.
These are exciting times for the artificial intelligence community. Interest in the field is growing at an accelerating pace, registration at academic and professional machine learning courses is soaring, attendance in AI conferences is at an all-time high, and AI algorithms have become a vital component of many applications we use every day. But as with any field going through the hype cycle, AI is surrounded by a saturation of information, much of which is misleading or of little value. I can tell that from my inbox. Every day, I receive several pitches that claim company X has solved problem Y with… This story continues at The Next Web
By Liron Smadja, director, global expansion marketing at Fiverr The globalized news cycle is both a negative and positive for marketers. Major news events create far more threats and opportunities around content than they once did, and when headline-making events occur, the global media hype cycle influences consumers’ interests — and keyword volumes get pushed and […] The post How marketers can avoid threats and claim opportunities with distributed teams appeared first on Digiday.
The Gartner Hype Cycle for Artificial Intelligence, 2020 - Chatbots are projected to see over a 100% increase in their adoption rates in the next two to five years and are the leading AI use cases in enterprises today. Forbes Bing is now Microsoft Bing as the search engine gets a rebrand - Microsoft doesn’t go into detail about why it added the company’s name to the Bing brand, other than it reflecting “the continued integration of our search experiences across the Microsoft family. The Verge 68% of B2B buyers say the length of their purchase cycles has increased over last year - The COVID-19 pandemic has led many B2B firms to lengthen their purchase cycles and to expect more personalized attention from vendors, according to recent research from Demand Gen Report. MarketingProfs How B2B Demand Generation Has Adapted. Despite the impact of COVID-19, budgets for demand generation are holding up more than B2B marketing as a whole. Fewer than 1 in 5 (18%) B2B marketers say that they expect their budgets for demand generation to decrease, whereas 3 in 10 (31%) say their overall marketing budgets will fall. MarketingCharts 2021 B2B Content Marketing: What Now? [New Research] - Find out what content marketers are thinking, doing, and not doing when it comes to content creation and distribution, metrics and goals, team structure and outsourcing, budgets and spending. Content Marketing Institute Study: Comparing the data from 8 SEO tools - The numbers you'll find don't match up. SEO metric tools are for general trend analysis and competitor benchmarking, not on specific numbers. Search Engine Land Snapchat is pitching high-frequency, high-reach ‘Platform Burst’ ad campaigns - The new offer is a media buy advertisers can use to ensure their campaigns reach a certain amount of people in the app frequently over three or five days, according to three agency execs who are considering it. Digiday Nearly half of consumers will try new brands if the ad is relevant - Consumers are spending more time at home with online content, especially connected TV (CTV) and social media. Since the beginning of the COVID-19 pandemic, the average time interacting with online content has doubled globally. Marketing Dive Video ads drive a 48% higher sales rate than static ads, study says - WARC forecasting an 18.3% global increase for e-commerce ads this year even as overall ad spending drops 8.1% Mobile Marketer Facebook Announces Integration of Messenger and Instagram Direct, Adds New Messaging Features. When complete, WhatsApp will also join Facebook’s messaging integration upgrade. Social Media Today Google, The Trade Desk, MediaMath, Amobee, Adobe and Adform Lead The Pack In Gartner’s 2020 Ad Tech Magic Quadrant - New entrants include Beeswax, Centro, Mediaocean and Zeta Global.  Ad Exchanger Microsoft Digital Marketing Center is now available in open beta in the U.S Microsoft’s Digital Marketing Center for search and social management adds features, opens beta. The free platform is now open to U.S. small businesses. Search Engine Land ON THE LIGHTER SIDE: "In trying to deliver the right message to the right person at the right time, it’s important for marketers to draw a line between cool and creepy." by Tom Fishburne — Marketoonist Home Depot's Sold-Out Giant Halloween Skeletons Creep Into Brand' Social Feeds - Budweiser, Slim Jim, Natty Light and others are getting into the Halloween spirit—but might just turn people green with envy. AdAge TOPRANK MARKETING IN THE NEWS: Lee Odden — What’s Trending: Getting Better All the Time — LinkedIn (client) Lee Odden - The Norse God, Lee Odden on Fitness and B2B Influencer Marketing - CoronaRadio 8.18 Lee Odden - 365 Marketing Quotes to Keep You Fired Up All Year - Skyword Have you found your own top marketing stories from the past week of industry news? Please let us know in the comments below. Thanks for taking the time to join us for the weekly B2B marketing news, and we hope you'll return again next Friday for another look at the most relevant B2B and digital marketing industry news. In the meantime, you can follow us at @toprank on Twitter for even more timely daily news. The post B2B Marketing News: Demand Gen Adapts, B2B Buyers Taking Longer, Microsoft Digital Marketing Center Beta appeared first on B2B Marketing Blog - TopRank®.
If the 1982 movie Blade Runner and its dystopian depiction of what the world would look like in 2019 were accurate, this is what we’d have been living through last year: via GIPHY Needless to say, our predictions of society’s future state, and technology’s long-term evolution, are not always on the money. While certain aspects of Blade Runner’s vision might’ve been frighteningly accurate, Los Angeles is not yet inhabited by flying cars or giant video advertisements projected onto the entirety of skyscrapers. With that said, today’s marketers can much more easily look ahead to 2021 — suddenly only a few short months away — and make educated guesses about what the year will hold. Many of the marketing technologies that will transform business and drive strategies are already on the rise, if not gaining mainstream traction. Martech 2021: 5 Trends to for B2B Marketers to Watch Businesses and marketing departments might be facing spending restrictions and budget cuts amidst the turmoil of 2020, but marketing technology is not an area that’s widely being affected. On the contrary, in fact: The latest Pulse Survey from ClickZ found that marketing technology budget shares rose from 32% to 42% between May and late July. Where are organizations investing, and which technologies will rule the roost in the coming year? Here are five evidenced trends I’ll be following: 1 — Content experiences are at the forefront In ClickZ’s research, this is the category that was leading marketing technology’s growth here in 2020. “People being indoors and looking for new ways to educate themselves about the current climate and consumer content can safely be considered as one of the reasons businesses are tirelessly looking to enhance their target audiences’ experience,” wrote Kamaljeet Kalsi. (Source) This isn’t such a novel concept — TopRank Marketing CEO Lee Odden was among those preaching experiences as the future of content marketing many years ago — but technology is continually improving our ability to deliver content in ways that are more interactive, immersive, and impactful. I think back to last week’s blog post on storytelling, and Joseph Gordon-Levitt’s assertion that video games offer the most promise on this front. Technology will continue to bring more capabilities to the table in terms of gamification, interactivity, and innovation. Making content consumers feel like participants rather than onlookers holds the key to heightened engagement. 2 — Facilitating a socially distant world Will there be in-person events in 2021? It’s possible but doesn’t feel very likely right now — certainly not at the scale of annual conferences and summits we’ve come to love. As brands keep working to build relationships with prospects and customers from a distance, technology will need to do much of the heavy lifting. We’ve already seen some great new tools and capabilities arise this year in terms of teleconferencing, live-streaming, and virtual events. What else might emerge, with a litany of tech companies now centering their focuses on what has suddenly become a ubiquitous need? In a way, this development helps to level the playing field for smaller businesses. While it may not be feasible for a startup sales enablement shop to organize a massive gathering like Dreamforce, bringing people together through interactive virtual events is a different story. In fact, this format can actually make it easier to follow up, convert, and attribute results concretely. It’s not just about technology that helps engage customers from afar. It’s also about technology that helps marketers collaborate and work together in distributed settings. And adopting these tools will benefit companies and agencies long-term, because the remote work trend was already on the rise long before COVID struck. In 2021, marketers will truly equip themselves for the future of work. We’re already well on our way; according to a recent survey, “companies reported that responding to the new circumstances of the pandemic accelerated their digital communications strategy by 6 years on average.” [bctt tweet="“As brands keep working to build relationships with prospects and customers from a distance, technology will need to do much of the heavy lifting.” — Nick Nelson @NickNelsonMN" username="toprank"] 3 — Data privacy and cybersecurity gain urgency Data exploitation became a huge story after the 2016 election, and I regret to inform you it’s likely to bubble up again this fall. Even outside of that, cybersecurity has been a growing concern for many years and becomes all the more pertinent as customer data is increasingly decentralized and cloud-based. While these matters have often fallen under the purview of IT in the past, marketing needs to have a seat at the table and a voice in the discussion. Sending a convincing message that it’s safe to do business with your brand — sensitive data won’t be shared, lost, stolen, or misused — and backing it up is essential to building trust in the new world of business. 4 — Simplicity and synchronicity are vital  In its latest marketing technology landscape visualization, Chief Martech charted some 8,000 different solutions in the wild. Eight thousand! The beauty of this vast landscape is that marketing technologies now exist to address almost any need imaginable. The downside, of course, is that the sheer volume and range of options can feel completely overwhelming. The balance between not enough martech and too much martech is a delicate one. In the near future, streamlining will be the name of the game. How can you carve down your tech stack to the true essentials? Which solutions can cover multiple needs for your team? How can you solicit a continuous feedback loop so users are able to openly communicate when a tool isn’t working for them, and action is taken rapidly? Finding the answers to these questions will help marketing organizations find greater efficiency and effectiveness with martech in 2021. [bctt tweet="“The balance between not enough martech and too much martech is a delicate one.” — Nick Nelson @NickNelsonMN" username="toprank"] 5 — Artificial intelligence keeps growing and embedding The buzz around marketing technology seems to vary from month to month, with a new category or niche entering and then exiting the spotlight. One that never seems to lose its luster, however, is AI. This is because the technology is powerful and endlessly applicable. We already see AI being widely leveraged in modern marketing strategies — chatbots, predictive analytics, deep learning, etc. — but the potential remains so much greater, and I believe we’ll continue to see it realized in the coming year. One threadline I’ll be keeping a close eye on is formative AI, cited as a trend driving Gartner’s hype cycle of emerging technologies in 2020. “Formative AI is a type of AI capable of dynamically changing to respond to a situation,” according to Gartner. “There are a variety of types, ranging from AI that can dynamically adapt over time to technologies that can generate novel models to solve specific problems.” How could formative AI come into play for marketing in order to drive more personalized and memorable B2B marketing experiences? Go ahead and dream on it. That’s what separates us from the machines, after all. (Or at least one of the differences pondered by Blade Runner and its source material.) Marketing Technology Will Always Have Its Place This chaotic year of 2020 has served to reinforce the immense value of technology in my day-to-day. Without having easy access to chat apps, video-conferencing platforms, shared documents, and other digital tools, a day in the life of a content marketer during the pandemic would be far more challenging and inefficient. Instead, I’m basically able to do my job seamlessly without much disruption, other than the lack of seeing my coworkers’ faces IRL. I do miss that very much, and for all the talk about technologies to watch in 2021, I’m most hopeful for a return to semi-normal human interaction and physical proximity. Up until then, and after, martech will help us continue to keep audiences (and ourselves) educated, entertained, engaged and connected through the digital space. I don't know about flying cars or skyscraper billboards, but I can say with confidence that the future of marketing and its technologies is going to look a lot more like 2020 than any years preceding. For more insight into what the next year may hold, click over to our post from Lane Ellis on 8 Things B2B Marketers Need To Know About Reddit in 2021. The post B2B Marketing Technology in 2021: 5 Key Focuses appeared first on B2B Marketing Blog - TopRank®.
You can call me Al For a year that belongs in a Philip K Dick novella, now is not the time to welcome prophets of the technological future, and yet here comes Gartner, banging on the door with its Emerging Technologies Hype Cycle.…
Blockchain has moved through its hype cycle far faster than many other technologies. The cult success of Bitcoin produced a legion of zealots that saw blockchain as the answer to everything. However, the backlash has been swift, and the phrase “blockchain is a solution in search of a problem” quickly became a near-cliché. As with... Read more » The post Using blockchain to manage the complexity of small cells: A guide appeared first on Telecoms Tech News.
In addition, it also delivers detailed analysis of regional and country market.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers& acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Smart Wearables Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/smart-wearables-market/download-sampleMarket DynamicsThe smart wearable is the fastest advancing sector with massive excitement.Growing awareness about healthcare monitoring and rising adoption of smart devices by sports active people are driving the market growth.Growing use is experienced among runners, athletes, swimmers, and gym-goers.People are also using these wearables for effortlessly control notifications, such as auto sleep, music, and alarms.Large companies are fuelling the hype cycle as they rush to outdo each other, the industry giants are striving to serve something new with the help of this technology.
Everseen, the leader in Visual AI™ for retail asset protection, end-to-end supply chain item-level inventory tracking, and process automation, today announced its recognition in three retail categories in Gartner’s Hype Cycle for Retail Technologies, 2020: AI in Retail, Computer Vision and Smart Check-Out (Gartner subscription required).Everseen is the only company to be recognized in all three of these categories.This marks the company’s fourth year being recognized by Gartner for AI in Retail, its second year appearing in the Computer Vision category, and its first year in the Smart Check-Out category.“With 125 dedicated AI scientists specializing in retail, and a data factory tracking more than 160M SKUs and 20M people daily, we continue to deliver AI solutions to the retail market at scale,” said Huw Lloyd, Chief Strategy Officer at Everseen.“To us, this recognition is a nod to the long-term investments we have made in our R team and talent, and to the significant enhancements we’ve made across our customers’ businesses, ranging from the distribution center to check-out.”Lloyd continues, “Our company’s repeat recognition alongside Microsoft, Amazon and Google in Gartner Hype Cycle for retail is a reflection of our ongoing development, expanded deployment into thousands of stores and continued adoption by the world’s largest retailers.Since its initial appearance in Gartner’s Hype Cycle, Everseen has solidified its role as an integral component in the retail tech landscape.According to the Gartner Hype Cycle for AI in Retail, 2020, “Common business use cases for AI in retail include fraud and anomaly detection, marketing, demand forecasting, multichannel order execution, smart check-out and robotic operational assistance.Technologies commonly found in retail AI include computer vision (CV), natural language processing (NLP), machine learning (ML), deep learning (DL), and deep neural networks (DNNs).”Gartner “Hype Cycle for Retail Technologies, 2020,” Kelsie Marian, 29 July 2020Gartner DisclaimerGartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation.Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact.
Edge and serverless about to slide into the trough of disillusionment Clouds have gone private, mutated into hybrids, gone virtual and/or private and attracted many other labels beside.…
IndieBio founder Arvind Gupta joined VC firm Mayfield as a partner on Wednesday. He will continue investing in biotech startups at Mayfield, but he is also planning to focus on an area he calls "planetary health." At the biotech accelerator IndieBio, Gupta helped founders, primarily scientists and academics, get their young companies off the ground by establishing resilient business models. That skill set will come in handy with sustainability startups as well, Gupta told Business Insider, even as green technology has fallen out of favor with other investors after major investment misfires in the early 2000s. According to Ursheet Parikh, with whom Gupta will work at Mayfield, the "hype cycle" around healthcare and sustainability technology startups will help create more resilient business models and ultimately lead to better investment opportunities. Both Parikh and Gupta told Business Insider that investing in these two areas is the right thing to do as an extension of Mayfield's new "conscious capital" initiative that aims to advance equality in several areas within the broader venture capital and tech industries. Click here for more BI Prime stories. Two of the biggest crises facing humanity today — the coronavirus pandemic and the climate crisis — also represent two of the biggest opportunities, if investors have more than just profit in mind. Healthcare and sustainability technology haven't always been hot VC deals. The businesses typically require lots of cash upfront to cover heady expenses related to hardware production, research costs, or a combination of both. They rarely deliver the kind of returns on investment that the typical enterprise software startup can reap for investors. But with both industries at the forefront during the crises, some investors are willing to overlook the less-than-ideal unit economics for the potential positive impacts these companies could have on humanity. "I bet my career that climate change is real and if you don't believe that, it's the wrong fit," Mayfield partner Arvind Gupta told Business Insider. "If you don't believe the data, that health and lifespan going down for the first time in a first-world country is not a sign that something is deeply and fundamentally broken, I think you are not willing to believe what you are seeing." As Mayfield's newest partner, Gupta is planning to co-lead the 50-year-old firm's growing health investing arm by considering what he calls "planetary health" in addition to more traditional human health. "Beyond the typical venture capital success measures is the additional metric of affecting billions of people's lives around the world," Gupta told Business Insider. "These huge pools of capital to redeploy to opportunities that can make our children's world better rather than make a quick dollar on an application that may not be around in that typical venture timeframe." Gupta's comfort with long-term investments stems from his background at biotech startup accelerator IndieBio, he said. There, he worked closely with academics and scientists who were in the early days of building a company based on compelling technology or research breakthroughs. "We helped them derisk the technology and helped scientists figure out how to build a business around the technology they are developing," Gupta said. "We graduated companies that are real companies, not science projects." IndieBio graduates' success, and thus IndieBio's, is a stark contrast to the "green tech" misfire of the early 2000s. Many VC firms at the time invested massive amounts of money in unproven tech with large overhead and operating costs. Many of those companies went under in the 2001 crash, taking their investors' funding with them. "After the first bubble, the world tends to be more measured and investors do more diligence, which is good for the ecosystem," Mayfield partner Ursheet Parikh told Business Insider. "Planetary health is part of the sustainability hype cycle, and will there be another hype cycle? Probably, but we will have great companies on the other side." Parikh has helped Mayfield develop a new "conscious capital" initiative, along with managing director Navin Chaddha and Mayfield's other partners. It seeks to look beyond financial returns when investing in companies that may have the potential for adding to the public good, Parikh said. Luckily for Parikh and Gupta, that includes the firm's focus on biotechnology and sustainability, the areas in which both partners are focused. "Conscious capital is where I would like to place my time and energy for the next three decades of the working life I have left because I can measure my life through my children," Gupta said. "Will they say 'thank you' for being a great dad but also for helping build companies that made a difference in our world? That's my only measure of success."SEE ALSO: Clearbanc just launched a valuation tool that its cofounders are calling a credit score for startups. Here's what entrepreneurs need to know before signing up. Join the conversation about this story » NOW WATCH: Why Pikes Peak is the most dangerous racetrack in America
According to the Gartner Hype Cycle, blockchain isn’t going through its best moment.If Gartner is right, most blockchain technologies are still between five to 10 years away from having any meaningful impact.What is the Gartner Hype Cycle?Enterprise research firm Gartner is well-known for its informative reports and predictions across industries and business verticals.The company developed the Gartner Hype Cycle in a bid to analyse new technologies and try to distinguish marketing and “hype” from actual use cases and progress.Gartner hype cycleWhen it comes to blockchain technology, as far as the company is concerned, there’s still a long way to go.In fact, if you check out the cycle above, you’ll see how blockchain was thrust into the public domain and then incessantly hyped by the media using words like ‘immutable’, ‘decentralised’, and ‘secure’.The whole ICO phase took on a life of its own.In fact, it is sliding into the “trough of disillusionment”.Many blockchain projects are failing to deliverOf course, the multiple scams and mismanaged projects that came out of the ICO craze would eventually lead the regulators to quash it.However, as we head towards the end of another full year, some of the larger projects and companies are starting to struggle.Clearly, interest in blockchain is waning as many experiments and ideas have failed to come to fruition.
I’m sorry to be the bearer of bad news but according to Gartner‘s Hype Cycle, blockchain is “sliding into the trough of disillusionment,” meaning the technology is struggling to live up to the hype.In the firm’s own words, the “trough of disillusionment” means that “interest [in the technology] wanes as experiments and implementations fail to deliver.Producers of the technology shake out or fail.Investments continue only if the surviving providers improve their products to the satisfaction of early adopters.”In fact, Gartner‘s Hype Cycle – a graphical representation of the life cycle stages a technology goes through from conception to maturity and widespread adoption – shows most blockchain technologies are still five to 10 years away from transformational impact.“Blockchain technologies have not yet lived up to the hype and most enterprise blockchain projects are stuck in experimentation mode,” said Avivah Litan, an analyst and research vice president at Gartner.
YouTube starts phasing out exact subscriber numbersYouTube has begun removing precise subscriber counts for channels with over 1,000 followers, replacing them with rounded overview numbers, the Google-owned video service recently announced.The move has left some brands with subscriber accuracy concerns, especially large ones that could see rounded counts hiding nearly a million subscribers.Now Facebook says it may remove Like countsFacebook has begun testing the elimination of “like” counts in news-feed posts, the social media giant recently confirmed, in a move echoing a similar shift from tests conducted with its Instagram property — aimed at placing greater focus on content and less on “like” counts.Gartner Hype Report 2019 highlights CDPs, AI, Blockchain for Ads and Real-Time Marketing
Find out how a horizontal approach can capture the promise of AI — which helps you elevate every part of your enterprise and truly transforms your business — when you join this VB Live event.We’re not that far away from 2022, which is when Gartner has predicted that AI’s hype-cycle treadmill is going to shift into go-time technology, with the market value expected to hit $3.22 trillion.If you manage to stay away from the over-promising and under-delivering of the buzz around AI and learn how to adopt the technology to transform your business, Forrester reports that you and your tech-savvy peers are on track to steal $1.2 trillion in market share from those that have been a little less on the ball.But many of the future-proofing companies that have always believed in the promise of artificial intelligence have been struggling to implement it.The underlying issues start with the familiar shortage of top-tier software engineering talent.Even more important is the leadership and forward-thinking required to take a fully functioning company completely apart in order to rebuild it into a stronger, fully functioning AI-first powerhouse, across every department.
Vivo has started to ramp up the hype cycle on its next NEX phone.Following a leak last month of glass panels with extreme curvature, NEX product manager Li Xiang posted a picture himself of the glass this week on Weibo and has followed up today with sketches of the new device.The sketches show that Vivo is also using the waterfall metaphor to describe the near-90 degree curvature of the glass’ edges, as with the prototype device that sister company Oppo unveiled last month.The back panel of the new NEX has a circular protrusion to house three cameras, which appears to have been inspired by watch design.Vivo’s first NEX was the first phone with a pop-up selfie camera and one of the first with an in-display fingerprint sensor.The second NEX design, the Dual Display Edition, was a technically impressive but occasionally awkward phone that came out late last year.
To read the full article, simply click here to claim your deal and get access to all exclusive Business Insider PRIME content.CEO Chris Gibson predicts that, with so much AI hype, the industry is poised to hit an inflection point and "go through the valley of disillusionment."Still, he says that companies like Recursion that are finding and developing new drugs have the best chance of success."We are just coming off a peak hype cycle and about to go through the valley of disillusionment," he told Business Insider.Gibson founded the startup in 2013, after completing a doctorate in bioengineering at the University of Utah.Read more: Novartis is betting that AI is the 'next great tool' for finding new, cutting-edge medicines.
By now, anybody watching the self-driving car space is familiar with the “trough of disillusionment,” the stage of the Gartner hype cycle that follows the “peak of inflated expectations,” and—for the lucky ones—precedes the “slope of enlightenment.” This is the part where instead of puffing their chests out, the technologists put their heads down to work on delivering what they’ve promised.Like, for example, Luminar’s announcement this week that it has developed a lidar scanner it will sell for just $500—cheap enough to bring a new level of autonomy to consumer cars.Or that after breaking up with self-driving developer Aurora earlier this year, Volkswagen on Friday invested $2.6 billion in Argo AI, with plans to use its tech to launch an autonomous service (likely meaning robo-taxis or trucking, somewhere, sometime).These are small signals, to be sure, but every springtime starts with green shoots.Let the elbow wars end in peace: Colorado-based Molon Labe has received FAA certification for a staggered seat design that makes the middle seat a comfort zone and gives everyone their own place to rest their arms.Turns out that data can also be used to predict where crashes will happen—and cut emergency response times.
Catch up on this VB Live webinar to learn about the five biggest mistakes companies make when they implement AI and how to leap over these pitfalls and into real results.“At least initially, there was a general lack of understanding in the marketplace around what AI really is,” says Akhil Talwar, senior product lead at Bold360 by LogMeIn.“There’s a lot of this hype cycle phase that organizations have gone through.My hope is that we’ve now shifted into more practical applications of AI, but unfortunately that’s not always the case.”Michael Butler, head of customer success at Ople agrees.“What I’m excited about is the opportunity that AI presents to businesses across all industries,” says Butler.
Companies are still cautiously dipping their toes into the blockchain trough, hoping to discover where the distributed ledger technology can create efficiencies in their business processes.Gartner gauges the maturation of new technology through a "Hype Cycle," a graphic-based lifecycle that follows five phases: from the Technology Trigger, when proof-of-concept stories and media interest emerges, to the Plateau of Productivity, when mainstream adoption occurs – if the technology is more than niche.“Many CIOs overestimate the capabilities and short-term benefits of blockchain as a technology to help them achieve their business goals, thus creating unrealistic expectations when assessing offerings from blockchain platform vendors and service providers," Adrian Lee, a senior research director at Gartner, said in that study.“Product managers should prepare for rapid evolution, early obsolescence, a shifting competitive landscape, future consolidation of offerings and the potential failure of early stage technologies/functionality in the blockchain platform market,” Lee said.Mainly, companies are using blockchain as a database for shared record keeping and asset tracking while ignoring a key attribute: it's an immutable audit trail.Some blockchain platforms are developed more for confidentiality, others for tokenization or the digital representation of fiat currency or goods; still others are created for universal transactions.