Logo Header Menu

AI augmentation will create $2.9 trillion of business value in 2021 — Gartner

New research from Gartner has found that AI augmentation will create $2.9 trillion of business value and 6.2 billion hours of increased worker productivity in 2021 AI augmentation will create $2.9 trillion of business value in 2021 — Gartner image

In 2021, AI augmentation will impact the business like no AI-based technology has done before.

According to Gartner, AI augmentation or augmented intelligence will create $2.9 trillion of business value and lead to an increase of 6.2 billion hours of worker productivity, globally.

Gartner 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,” said 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.”

All in the mix: AI is about augmentation, not just automation

In this article, Dr Boris Altemeyer, psychologist and Chief Scientific Officer at predictive people analytics company Cognisess, argues that AI will never completely replace humans. Read here

Business value of AI augmentation

AI augmentation is forecast by Gartner to add the most value to business, with the fewest early barriers to adoption, compared to other AI-based technologies (see Figure 1).

By 2030, decision support/augmentation (AI augmentation) will surpass all other types of AI initiatives to account for 44% of the global AI-derived business value.

Figure 1: Worldwide business value by AI type (Millions of Dollars). Source: Gartner (August 2019).

True AI doesn’t exist yet…it’s augmented intelligence

With all the hype surrounding artificial intelligence, it is easy to forget that true AI doesn’t exist yet. Instead companies are leveraging augmented intelligence. Read here

Enhancing the customer experience

The name of the game — customer experience is the primary source of AI-derived business value, according to the Gartner’s AI business value forecast.

AI augmentation/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,” said 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 added. “Augmented intelligence is a design approach to winning with AI, and it assists machines and people alike to perform at their best.”


Tech Leaders Summit

On 12 September, Information Age will once again host Tech Leaders Summit at the Royal Lancaster Hotel, London. This year, speakers at the UK’s most innovative tech leadership conference — including the CTOs of RBS and Ofcom and Sarah Burnett from Everest Group — will help dissect subjects, such as intelligent automation, emerging tech, agile and cultural transformation. With plenty of opportunties to network throughout the day, this event is not be missed. To find out about the latest innovations and how to lead your organisations and customers through the disrupted era, register here.


Latest news

divider
Retail
The challenges of e-commerce: The internal blame game costing retailers thousands

The challenges of e-commerce: The internal blame game costing retailers thousands

23 August 2019 / Investing in eCommerce capabilities is no longer a choice for retailers, its essential. But the [...]

divider
Cybersecurity
Simulation software: protecting your organisation during a sustained period of cyber war

Simulation software: protecting your organisation during a sustained period of cyber war

22 August 2019 / We’re in the midst of a cyber war that threatens every single business and the [...]

divider
Emerging Technology & Innovation
London’s demand for emerging tech skills could create North-South divide

London’s demand for emerging tech skills could create North-South divide

22 August 2019 / There are currently 422,000 professionals with emerging tech skills, including data analytics, artificial intelligence (AI), [...]

divider
Blockchain
Are blockchain-based smart contracts stupid?

Are blockchain-based smart contracts stupid?

22 August 2019 / Blockchain-based smart contracts are getting more than their fair share of attention in the media [...]

divider
Communications & Networking
5G network infrastructure revenue to reach $4.2 billion in 2020 — Gartner

5G network infrastructure revenue to reach $4.2 billion in 2020 — Gartner

22 August 2019 / 5G has dominated headlines of late, for both positive and negative reasons. Questions have been [...]

divider
Cyber Innovation
Random numbers for the quantum computing world, has Crypta Labs really cracked it?

Random numbers for the quantum computing world, has Crypta Labs really cracked it?

21 August 2019 / There seem to be lots of holy grails these days and lots of companies claim [...]

divider
Emerging Technology & Innovation
Change your customer and employee experience using AR and VR

Change your customer and employee experience using AR and VR

21 August 2019 / Augmented reality (AR) and virtual reality (VR), although limited at the moment, will be a [...]

divider
Governance, Risk and Compliance
Technology, regulation and the law: don’t be caught out. An example

Technology, regulation and the law: don’t be caught out. An example

21 August 2019 / Technology, regulation and the law Near-perfect examples of this phenomenon are “language technologies” — those [...]

divider
Diversity
Investors must embrace diversity now

Investors must embrace diversity now

20 August 2019 / Venture capitalists (VCs) play a vital role in shaping the future. Although the VC industry [...]

Do NOT follow this link or you will be banned from the site!

Pin It on Pinterest