By now, every salesperson for every technology firm is probably being asked “do you have AI” by prospects. And most answers, in most cases, will require the salesperson to ask a further question: “what is your use case?”
Because right now, most technology buyers are likely reacting to the hype and “FOMO” (Fear of Missing Out). The pressure for businesses to "do something with AI" is going to lead to many deployments that fail to deliver the expected results, as often is the case for new technology.
Of course, the other typical pressures also exist. Vendors and consultants suggesting AI as a “must-have” will drive such buyer requests.
But firms might also be engaging in “innovation signaling;” trying to appear innovative to investors, customers, or partners by touting AI initiatives, regardless of substantive application.
Essentially, the “wasted effort and capital investment” happens because it typically takes some time and experience, plus business process change, before any important new technology can produce measurable outcomes.
Study Name / Article | Date | Publisher | Key Conclusions |
The Gartner Hype Cycle Approach: Understanding the Technology Adoption | 2023-12-16 | LinkedIn / Gartner | Outlines five phases: innovation trigger, peak of inflated expectations (hype/FOMO), trough of disillusionment, slope of enlightenment, plateau of productivity where useful applications emerge3. |
The Role of FOMO in Digital Transformation | 2021-01-27 | MIT Press: Harvard Data Science Rev. | FOMO drives rapid, sometimes poorly planned digital adoption; over 70% of digital projects fail to deliver intended impact; useful applications emerge only with strategic alignment and learning6. |
Technology Adoption Lifecycle - from hype to reality | 2022-02-08 | THE WAVES | Adoption often starts with hype or fear of missing out, followed by a crash in expectations, and eventually stabilizes as practical, value-driven uses are found7. |
Technology Adoption Life Cycle-redefined | 2023-12-06 | THE WAVES | Adoption unfolds in stages among different user groups; initial hype/FOMO is replaced by economic justification and practical applications as technology matures2. |
The Role of Fear of Missing Out and Experience in the Formation of ... | 2022 | ScienceDirect | FOMO is a significant driver of early technology adoption, but prior experience helps organizations move from hype to rational, use-case-driven adoption1. |
Technology Adoption: Escaping the Hype to Maximize Decision ... | 2023-01-12 | HG Insights | The Hype Cycle model helps organizations distinguish between hype and real business value, guiding them toward effective, use-case-driven adoption8. |
AI is not going to be much different, in that regard.
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