Artificial Intelligence is certainly making the way for the future. But, what happens when you combine AI, data, and analytics with human intelligence? It gives rise to the phenomenon of Augmented Intelligence.
Augmented intelligence helps us understand the power of analytics and the speed at which AI can process data.
What is augmented intelligence?
- Augmented intelligence integrates artificial intelligence with human strength to amplify the overall power and precision and make better decisions. It helps improve cognitive performance, enhance learning implementations and decision making.
- Augmented intelligence aims to enhance users’ knowledge and skills by utilizing it with machines. It helps improve human intelligence by making smarter decisions and choices.
How does augmented intelligence work?
- Augmented intelligence technology identifies human strengths and improves them with smart algorithms. This coupled with real-time insights, and data-driven reports can help improve outcomes. You can find patterns, note important spots, unlock opportunities, notice strategic zones and convert customer data into action.
- Augmented intelligence extends human cognitive abilities instead of simply automating a process. The technology aims to simplify decision-making while ensuring that the final decision comes from humans only.
For example: You watched a Sci-fi film on Amazon Prime. The provider then suggests a list of similar movies based on what you have watched. This is augmented intelligence in action. You may have experienced this a lot. This is basically the service provider offering you options from his table based on an algorithm.
Benefits of Augmented Intelligence for Businesses:
- Firstly, Augmented Intelligence helps reduce costs by increasing accuracy. Hence, it impacts the decisions about invoice processing to sales forecasts.
- Moreover, it helps representatives take smarter initiatives on the basis of the data. As a result, it influences employees to create better opportunities for themselves and the business.
- Furthermore, Augmented Intelligence assembles human resources and technology to foster a collaborative environment.
- It also performs repetitive and time-intensive tasks to help teams work on the strategies and plans for the business.
- Above all, it works as a virtual assistant for data analysts and scientists. That is to say, it provides further insights and data to the analysts and scientists, for better actionable insights.
- It also provides opportunities for better, more accurate, and data-driven decisions for science, businesses and daily life.
- Most importantly, it provides capabilities for decision-making processes and handling large data sets.
Steps and Strategies to develop Augmented Intelligence for the Business
- Firstly, it is pivotal to develop and employ bilingual resources to incorporate various expertise for enterprise-class approaches.
- It is also crucial to consider change management for the smooth adoption of new and better solutions.
- Further, businesses can collaborate business strategies with the latest technologies for integral governance of the human and machine workforce.
- It also increases agility, flexibility and scalability by migrating data and analytics to the cloud.
- Above all, it is critical in developing white-box algorithms to detect and diagnose issues in case of any discrepancies.
Top Augmented Intelligence Tools Businesses should be aware of?
- Oracle->Oracle Analytics Cloud is an AI-centric self-service analysis tool. Moreover, it provides data preparation, visualization, reporting, and augmented analysis features.
- IBM->IBM offers a range of Business Intelligence and analytic features under two product lines. Its Cognos Analytics solution enables users to access data and generate dashboards as well as reports.
Industries that benefit from augmented intelligence
1. Finance and banking 2. Healthcare 3.Manufacturing and engineering 4.Retail
Augmented intelligence should not be looked at in isolation as a technology that can replace humans. It is meant to augment human expertise by utilizing the capability of the machines in the best possible manner.
There is still a lot of scope for improvement in this cutting-edge technology. But it is already showing lots of great promise!
The augmented intelligence solution from SOAIS is helpful for businesses to make the right decisions.