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The Evolution of AI
Much like human intelligence, artificial intelligence (AI) displays remarkable adaptability. Analysts are increasingly embracing two distinct data approaches: 'wide data,' which encompasses various data types gathered from unstructured and diverse sources, and 'small data,' involving the collection and analysis of organization-specific or personal datasets to extract valuable insights. Both methodologies offer enhanced context for analytics, contributing to problem-solving and real-time decision-making at manageable costs. It is anticipated that by 2025, Gartner researchers predict a compelling shift for 70% of organizations, transitioning their emphasis from large-scale data to the more versatile landscape of small and wide data, thereby reducing AI's voracious appetite for extensive datasets.
Two other AI adaptations are of more immediate and growing significance: augmented intelligence and generative AI. They are part of the movement to more user-friendly AI. With other convergent technologies, mediating APIs (application interfaces) and pre-prepared workflows, AI is becoming straightforward for users with limited AI experience while still being robust enough to provide valuable insights even for data scientists as they too can work smarter.
Augmenting human intelligence
The augmentation versus replacement argument is not over. AI will continue making it possible to automate activities. These new applications relieve people of mundane tasks, and their jobs in some cases, as business systems are made more efficient. But as existing roles change, new ones are also being created as, increasingly, AI assumes the role of smart servant or co-worker. This more benign vision for AI is usually called ‘augmented intelligence’, though there is an abundance of other terms, such as enhanced intelligence, intelligence amplification, cognitive augmentation, decision support, and machine-augmented intelligence.
The aim of augmented AI is to complement brainpower rather than build AI models that operate independently. Machine learning and predictive analysis from data sets enhances human intelligence, resulting in better decisions.
Augmented intelligence is being deployed in numerous ways in life and business, from smarter chatbots and intelligent voice assistants, to rob advisors and automated business reporting or processing of documents in insurance and financial services.
Exploring the vast landscape of transformative technology beyond AI
AI is truly just one facet of transformative technology. Transformative technology encompasses a wide range of technological advancements and innovations that have the potential to significantly reshape various industries.
It can be hard to keep up with all the latest tech buzzwords, let alone understand what they could mean for your future. The Ayming Business Insight Notes is here to help. Find out what artificial intelligence, blockchain and quantum computing mean for you and your business by downloading the transformative technologies report.
October 16, 2023