Augmented Intelligence? Will Create $2.9 Trillion of Business Value in 2021

As we campaign to help teams of all sizes and in all markets to stay fully informed about the value of adopting augmented intelligence strategies within their work and projects, the analyst firm Gartner also identified the key advantages of, what they call, artificial intelligence (AI) augmentation. Yes, you can add this yet another terminology to the list of terminologies that we discussed in our AI vs AI post. Hence, we are very happy to see that Gartner appear to focus on this rising new approach and are predicting that augmented intelligence will create $2.9 trillion of business value and 6.2 billion hours of worker productivity globally in 2021 – i.e. under two years from the date of this article!

“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.”

Svetlana Sicular, research vice president at Gartner.

Gartner’s report, which was announced on August 5th, 2019, confirms our approach that we adopted since 2012 (when our Nebuli research and development journey began), focusing on the human-centred design and partnership model of people and AI working together, rather than competing against each other. We also discussed in detail this very point in How to Clone Yourself post.

Gartner’s View on Augmented Intelligence

The report emphasises the point that augmented intelligence is about combining human and AI capabilities that will ultimately deliver the greatest benefits to enterprises. According to Gartner, CIOs should prioritise augmented intelligence to scale people’s work and talents as the top AI contribution to the growth of business volume, quality and innovation.

At Nebuli, we have also analysed other aspects of the current priorities of CIOs, as well as key problems that they are currently facing with their data-AI dilemma. We will be releasing a new post discussing this in more detail very soon, highlighting where augmented intelligence models can play a key role in solving some of these challenges and how this can be applied to your current projects and workflows. Subscribe to our newsletter below to be notified.

Augmenting Decision Making

In this report, Gartner’s AI business value forecast highlights decision support/augmentation as the largest type of AI by business value-add with the fewest early barriers to adoption (as shown in the charts below). By 2030, decision support/augmentation will surpass all other types of AI initiatives to account for 44% of the global AI-derived business value.

Augmenting Customer Experience

Customer experience is the primary source of AI-derived business value, according to the Gartner AI business value forecast. Augmented intelligence reduces mistakes while delivering customer convenience and personalisation at scale, democratising what was previously available to the select few.

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

Svetlana Sicular, research vice president at Gartner.

As discussed in our previous post, what we are seeing in numerous markets today is that if businesses ignore the rise of this trend, their customers will migrate in droves to competitors who have applied one or a set of the technology collective offerings, which includes augmented intelligence at its core. Hence, we always advise companies and partners that Now is the time to adopt augmented intelligence, where we look at the whole technology collective as the critical foundation for future growth.

Using our ClientLab service model, we can advise and support you and your team through this process. Of course, you can also e-mail us your questions here and we will be very happy to help you. Make sure you stay in touch with our future events and Q&A posts by subscribing to our SPAM-FREE newsletter  (that’s a promise!).