AI augmentation on track to $2.9tn business value
Artificial intelligence (AI) augmentation will create $2.9 trillion in business value and 6.2 billion hours of worker productivity globally by 2021, according to Gartner.
The market research firm defines augmented intelligence as a human-centred partnership model of people and AI working together to enhance cognitive performance. This includes learning, decision-making and new experiences.
“Augmented intelligence is all about people taking advantage of AI,” says Svetlana Sicular, research vice-president at Gartner. “As AI technology evolves, the combined human and AI capabilities that augmented intelligence allows will deliver the greatest benefits to organisations.”
Gartner forecasts decision support and AI augmentation will surpass all other types of AI initiatives, to account for 44% of the global AI-derived business value by 2030.
Customer experience is the primary source of AI-derived business value, notes Gartner. In addition, augmented intelligence reduces mistakes while delivering customer convenience and personalisation at scale, democratising what was previously available to the select few.
“The goal is to be more efficient with automation, while complementing it with a human touch and common sense to manage the risks of decision automation,” says Sicular.
“The excitement about AI tools, services and algorithms misses a crucial point: the goal of AI should be to empower humans to be better, smarter and happier, not to create a ‘machine world’ for its own sake,” she emphasises. “Augmented intelligence is a design approach to winning with AI, and it assists machines and people alike to perform at their best.”