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AI Augmentation To Create $2.9 Tn of Biz Value in 2021: Gartner

Gartner

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 a new Gartner report.

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

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

The new research is also a follow up of another research by Gartner release last month that said organizations see a substantial acceleration in AI adoption this year. According to a recent survey by Gartner, 59% respondents said that they have AI deployed today.

Jim Hare, research vice president at Gartner. “The rising number of AI projects means that organizations may need to reorganize internally to make sure that AI projects are properly staffed and funded. It is a best practice to establish an AI Center of Excellence to distribute skills, obtain funding, set priorities and share best practices in the best possible way.”

Today, the average number of AI projects in place is four, but respondents expect to add six more projects in the next 12 months, and another 15 within the next three years, said the Gartner researcher. This means that in 2022, those organizations expect to have an average of 35 AI or ML projects in place.

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