Why Augmented Intelligence Market is Growing Faster than Expected?

Today, most of us are well versed with artificial intelligence (AI) technology, which has nearly become a part of our lives. People have now adjusted themselves to AI and its interference in their lives, as they are pretty comfortable using smart IoT devices, automated vehicles, and AI-based systems.

In this blog post, we will not be talking about artificial intelligence but augmented intelligence. Many of you might be familiar with the term augmented reality, as it has become a buzzword in recent times. However, augmented intelligence might be a new term for you, and here we are going to help you understand it better.

So, let’s get started!

What is Augmented Intelligence?

First of all, we need to understand that augmented intelligence is a sub-section of artificial intelligence. It is developed to enhance human intelligence and decision-making through actions taken in response to improved decisions.

In simple words, if we define augmented intelligence, we can say that it is a design pattern for enhancing cognitive performance with the combined efforts of humans and artificial intelligence.

Augmented intelligence utilizes machine learning and deep learning to provide humans with actionable data. Unlike artificial intelligence, which works independently without human involvement, augmented intelligence makes use of inputs and instructions provided by humans to it.

Alexa, Siri, or any other virtual assistant works on augmented intelligence. Virtual assistants do not make decisions for you on their own; instead, they provide the data you need as and when you demand it. In this case, augmented intelligence uses the already existing data on the web to provide you with relevant information after hearing your instruction or command. 

It is easy to differentiate augmented intelligence and artificial intelligence as the latter operates without human assistance while the former works on machine learning and deep learning and does not have to be in the decision-making process. In simple words, we can say that augmented intelligence does not make decisions on its own. Whereas, artificial intelligence is capable of making decisions on its own. 

Machine Learning & Deep Learning

You might have noticed the frequent occurrence of two terms, namely machine learning and deep learning in this learning. If you wonder what they are all about, this section will help you get familiar with them.

  • Machine Learning

Machine learning is a subset of artificial intelligence that allows machines to be more accurate at their prediction and performing functions without being programmed to do so. For example, Alexa is not programmed to check the status of online train booking, but when asked, it does the same within seconds; this is an example of machine learning.

  • Deep Learning

Deep learning is the subset of machine learning that help machines to imitate how humans learn and gain knowledge. Deep learning makes use of substantial statistical data and predictive modeling.

Augmented Intelligence is a Solution to Big Data Issues

Internet of Things (IoT), cloud storage, and big data have enabled unprecedented data collection, storage, and analysis. The sheer volume of this data is just incredible: the International Data Corporation projected that by 2020, the “digital universe” will hold almost 5,200 gigabytes of data per person, for a total of 40 trillion gigabytes of data points.

Big data provides insight into marketing and customer preferences and predictive analytics of scientific, medical, and geopolitical challenges. However, the sheer magnitude of big data makes mining and analysis, among other activities, challenging without assistance.

Augmented intelligence provides a way to help data analysts filter through vast amounts of data. By leveraging deep learning, it becomes possible to extract specific patterns from gigabytes of data that interpreters might otherwise overlook owing to the set’s sheer size.

Without augmented intelligence, processing massive amounts of data would take a lot of time, which can be years, depending on the size of the data set. Augmented intelligence is at the core of burgeoning fields like data analytics and predictive data. 

Market Analysis of the Augmented Intelligence Market

According to a report by Market Research Future on augmented intelligence, the global augmented intelligence market is predicted to have an exceptional growth rate of 35.8% between 2019 and 2025

The increased adoption of smart technologies, advanced analytics, machine intelligence, and IoT devices are driving the augmented intelligence market forward to earn whopping revenues during the forecast period. Along with this, the increased usage of augmented intelligence by leading organizations will create immense opportunities in the global market.

Considering the geographical overview of the augmented intelligence market, the North American region dominates amongst all others, with the major market share of the US and Canada. Other regions like Europe and Asia-Pacific are said to have considerable market share during the forecast period.

Conclusion

So, with all the information discussed in this article, we can conclude that augmented intelligence is not just a segment of artificial intelligence but a more prominent aspect of the technology we are using today. And soon it will become a leading market segment.

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