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AI augmentation to create US$2.9-trillion in business value in 2021

AI augmentation to create US.9-trillion in business value in 2021 In 2021, artificial intelligence (AI) augmentation will create US$2.9-trillion of business value and 6.2 billion hours of worker productivity globally, according to Gartner.

The market research and analysis firm 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."

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, the company explains.

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, Gartner states.

"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.

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

AI augmentation to create US.9-trillion in business value in 2021

Competitive advantage

In July 2019 ITWeb reported on a SAS Roadshow during which Jon Tullett, senior research manager for Cloud/IT Services at the Industrial Development Corporation (IDC) said: "You may not think your organisation needs to dive into AI just yet, but heed this warning: You can no longer expect years to go by before you face a competitive challenge from rivals using AI to help drive their business forward."

He added: "By 2020, it is anticipated that some 20% of large enterprises will already be utilising machine learning software to create business materials, such as company reports. This leaves you to answer just one final question: once you know that your competitors already plan to have these technologies in place, can you really afford not to be doing the same?"

Artificial intelligence seems to be gaining traction in Africa, going by use cases that are being reported on across various regions.

For example, ITWeb Africa recently reported that Cameroon's first Artificial Intelligence (AI) training centre has been established through a partnership between state-owned telecommunications operator Camtel and the Unversity of Yaounde I.

Judith Yah Sunday Achidi, General Manager of Camtel and Prof. Maurice Aurelien Sosso, Rector of the University of Yaounde I are understood to have committed to the FCFA 1.3-billion project.

The training facility will be hosted by the University's National Advanced School of Engineering (Polytech) in Yaounde which already houses a high-tech 3D printing centre.


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