(MENAFN- EIN Presswire) Increasing data complexity, need for AI-driven insights, automation demand, and improved decision-making fuel the Augmented Intelligence market.
PORTLAND, OREGON, UNITED STATES, July 10, 2023/einpresswire.com / -- The size of the global augmented intelligence market , which was estimated to be worth $11.73 billion in 2020, is expected to increase to $121.57 billion by 2030, rising at a CAGR of 26.4% between 2021 and 2030.
While artificial intelligence and enhanced intelligence are both forms of intelligence, the former's primary objective is to replace human labor while the latter seeks to support humans in their work. Additionally, enhanced intelligence involves humans and machines cooperating to increase their strength and generate more profit.
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The Augmented Intelligence market is experiencing significant trends that are reshaping the landscape of AI-driven decision-making and data analysis. One prominent trend is the integration of machine learning algorithms and AI technologies into existing business workflows. Augmented Intelligence systems are being developed to assist and enhance human decision-making processes, leveraging AI's capabilities to process and analyze vast amounts of data quickly. This trend enables organizations to make more informed decisions, improve operational efficiency, and unlock new insights from their data.
Another notable trend in the Augmented Intelligence market is the growing emphasis on explainable AI. As AI becomes increasingly integrated into decision-making processes, there is a need for transparency and interpretability. Organizations are seeking Augmented Intelligence solutions that can provide clear explanations and justifications for the AI-driven insights and recommendations they produce. Explainable AI helps build trust, mitigates bias, and enables users to understand the underlying rationale behind AI-generated results.
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The application of Augmented Intelligence in industries such as healthcare and finance is witnessing significant growth. In healthcare, Augmented Intelligence systems assist healthcare professionals in diagnosing diseases, predicting patient outcomes, and recommending personalized treatment plans. In finance, Augmented Intelligence is used for fraud detection, risk assessment, and algorithmic trading. This trend showcases the wide-ranging applications and potential impact of Augmented Intelligence across various sectors, with the aim of improving decision-making processes and optimizing outcomes.
The democratization of Augmented Intelligence is another key trend in the market. As the technology evolves, efforts are being made to make Augmented Intelligence more accessible and user-friendly. User-friendly interfaces, low-code or no-code development platforms, and pre-trained models are making it easier for organizations to adopt and implement Augmented Intelligence solutions. This democratization trend allows businesses of all sizes and industries to leverage the power of AI and benefit from augmented decision-making capabilities.
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The key players profiled in the augmented intelligence market analysis are Amazon Web Services, Inc., International Business Machines Corporation, Micron Technology, Inc., Microsoft Corporation, QlikTech International AB, Salesforce.com, Inc., Samsung, SAP SE, Sisense Inc. and TIBCO Software Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the augmented intelligence industry.
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David Correa
Allied Analytics LLP
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