Domhnaill Hernon, Global Lead at EY’s Metaverse Lab explores the hype cycle of technology at Tech & AI LIVE New York 2024 At Tech & AI LIVE New York Domhnaill Hernon, Global Lead at EY’s Metaverse Lab, discussed the reality behind the hype cycle of emerging technology, offering insights into how businesses can navigate trends and make informed investment decisions. Demystifying the hype cycle Domhnaill began by explaining the hype cycle concept, a model attributed to Gartner that outlines the journey of new technologies from initial excitement to real-world application. He described its stages, from the ‘peak of inflated expectations’ through the ‘trough of disillusionment’ and ultimately to the ‘plateau of productivity’, where meaningful adoption occurs. "Every emerging technology follows this cycle," Domhnaill stated. Domhnaill Hernon, Global Lead at EY’s Metaverse Lab The metaverse: Dead or evolving? Addressing the metaverse , Domhnaill noted that while media narratives claim it is ‘dead’, it is simply moving through the trough of disillusionment. He positioned the metaverse as the next evolution of the internet, making digital interactions more immersive and spatial. He broke the metaverse down into three distinct categories: Consumer metaverse – Primarily seen in gaming, where younger generations are already […]
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