Gartner forecasts the future of augmented intelligence in business
ARTIFICIAL INTELLIGENCE is perhaps the most interesting technology today because unlike other emerging technologies, its potential remains unlimited.
To be fair, businesses have explored a fair number of AI use cases over the past few years and the one that seems to stand out is its use in order to augmented analysis of data and decision making, popularly known as augmented intelligence.
According to Gartner, augmented intelligence is expected to create US$2.9 trillion of business value and 6.2 billion hours of worker productivity globally — by the year 2030.
“Augmented intelligence is all about people taking advantage of AI. As AI technology evolves, the combined human and AI capabilities that augmented intelligence allows will deliver the greatest benefits to enterprises,” said Gartner Research VP Svetlana Sicular.
The think tank’s forecast dissects the business value that AI will create in 2030 and finds that up to 44 percent of it will come from augmented intelligence. The remaining value created by AI is split as follows:
- AI-powered agents – 24 percent
- AI-powered decision automation – 19 percent, and
- AI-powered smart products – 13 percent.
Looking at the chart (below) that Gartner has created, two things are quite clear:
- Augmented intelligence grows at a rapid rate as indicated by the slope of the curve, and
- Although AI-powered decision automation is in its nascency right now, it’s set to rise quickly dwarfing the growth of smart products in a few short years.
Gartner, in its forecast, points out that the growth of augmented intelligence is primarily driven by the need to turbocharge the customer experience that companies provide.
The fact that it enables personalization at scale and reduces errors while delivering customer convenience, allowing the organization to offer a better experience to customers across products and category segments.
“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.”
“The excitement about AI tools, services and algorithms miss 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.”
Therefore, as long as businesses seek to use AI to help staff do more, and spend their time more creatively, making better decisions — at scale, the demand for augmented intelligence will rise, and there will be a definite corresponding increase in customer delight.
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