AI Augmentation Will Create $2.9 Trillion of Business Value in 2021

Decision support and artificial intelligence augmentation to surpass all other types of AI initiatives: Gartner

Stamford, CT (Aug. 5, 2019) – In 2021, artificial intelligence (AI) augmentation will create $2.9 trillion of business value and 6.2 billion hours of worker productivity globally, according to Gartner, Inc.

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.

“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 enterprises.”

Business Value of Augmented Intelligence

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 (see Figure 1). By 2030, decision support/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)

Augmented Intelligence Enhances 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 personalization at scale, democratizing 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 Ms. 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,” said Ms. Sicular. “Augmented intelligence is a design approach to winning with AI, and it assists machines and people alike to perform at their best.”

Gartner clients can read more in the report “Leverage Augmented Intelligence to Win With AI.”

Additional analysis on what is driving the future of AI in the IT industry will be presented during Gartner IT Symposium/Xpo 2019, the world’s most important gathering of CIOs and other senior IT executives. IT executives rely on these events to gain insight into how their organizations can use IT to overcome business challenges and improve operational efficiency

About Gartner

Gartner, Inc. (NYSE: IT), is the world’s leading research and advisory company and a member of the S&P 500. We equip business leaders with indispensable insights, advice and tools to achieve their mission-critical priorities today and build the successful organizations of tomorrow.

Our unmatched combination of expert-led, practitioner-sourced and data-driven research steers clients toward the right decisions on the issues that matter most. We are a trusted advisor and objective resource for more than 15,000 organizations in more than 100 countries — across all major functions, in every industry and enterprise size.

To learn more about how we help decision-makers fuel the future of business, visit www.gartner.com.

Source: Gartner

Tags: Artificial Intelligence (AI), Gartner, outlook / predictions Read the original article at Insurance-Canada.ca