Info-tech

AI to trigger global business value of $2.9 trillion in 2021: Gartner

Our Bureau Hyderabad | Updated on August 06, 2019 Published on August 06, 2019

 

Artificial intelligence (AI) augmentation will create a business value of $2.9 trillion and 6.2 billion hours of worker productivity globally in 2021, according to research firm Gartner Inc.

“Augmented intelligence is all about people taking advantage of Artificial Intelligence,” Svetlana Sicular, Research Vice-President at Gartner, said.

 

Gartner defines augmented intelligence as a human-centered partnership model of people and AI working together to enhance cognitive performance. This includes learning, decision making and new experiences.

“As AI technology evolves, the combined human and AI capabilities that augmented intelligence allows will deliver the greatest benefits to enterprises,” Svetlana Sicular said.

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

“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,” Sicular said.

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

AI business value

The Garnter report asked the enterprises to use the augmented intelligence value model to plan a path to AI business value by focusing on “what you can do to support and augment people, not what to automate.”

“In the short term, scale volume, reduce errors and automate routine tasks. In the medium term, scale quality, amplify human talents and create new products and experiences. In the long term, reinvent your business, industry and ecosystem and maximize customer convenience,” it pointed out.

Acquiring new skills

Organisations must help people learn how to do less routine work and how to learn new things when old tasks become a routine handled by AI.

“Facilitate team learning to consciously pursue interdisciplinary innovation. Design and implement digital experimentation, both one-time and as an ongoing process, in collaboration with your ecosystems and government,” it said to the organisations.

Published on August 06, 2019

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