The global market for augmented intelligence was estimated to be worth USD 13.73 billion in 2020 and is projected to increase to USD 121.57 billion by 2033, with a compound annual growth rate (CAGR) of 32.5% from 2023 to 2033.
An alternate perspective on artificial intelligence is augmented intelligence, which emphasizes the practical applications of AI technology and highlights the fact that cognitive technologies are intended to enhance rather than to replace human intellect. Augmented intelligence emphasizes the importance of human intelligence in problem identification and resolution when machine learning and supervised learning algorithms are used to identify connections and resolve issues.
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Augmented Intelligence Market Segmentation
By Technology
- Machine Learning,
- Natural Language Processing,
- Computer Vision and others
Regional Scope
- North America
- Europe
- APAC
- South America
- Middle East
- Africa
Key Players
Amazon Web Services, IBM Corporation, Intel Corporation, Microsoft Corporation, Oracle Corporation, Salesforce.com, Inc., SAP SE, SAS Institute Inc., Siemens AG, Splunk Inc., TIBCO Software Inc., UiPath Inc., Verint Systems Inc., Wipro Limited, WorkFusion Inc,
Regional Insights
As of 2021, the augmented intelligence market is led by North America, with Europe and Asia-Pacific trailing closely after. North America\'s dominance may be attributed to the early adoption of cutting-edge technologies like artificial intelligence, machine learning, and natural language processing, as well as the predominance of various technical enterprises. In addition, the region has robust IT infrastructure and government initiatives that promote digital transformation.
Europe is becoming one of the biggest markets for augmented intelligence due to the increasing usage of digital technology in industries including healthcare, banking, and industry. The European Union\'s concentration on artificial intelligence research and development, together with the establishment of guidelines and standards for moral AI, is driving the expansion of the industry in the area.
Owing to the growing adoption of AI technologies in emerging countries such as China, India, and Japan, the augmented intelligence market is expected to expand at the fastest rate in the Asia-Pacific region. The region\'s enormous and growing population, together with its big and growing middle class, are driving the need for digital technologies. Government initiatives that support AI use and provide financing for R&D are contributing to the region\'s growing business.
Market Dynamics and Trends
The market for augmented intelligence is expanding as a result of companies utilizing big data, blockchain, artificial intelligence, and the Internet of Things (IoT) widely to better understand and meet customer expectations.
The market is also expanding because of developments in artificial intelligence (AI), machine learning (ML), and deep learning techniques, which enable machines to process and analyze enormous amounts of data while making deft judgments. For instance, to provide advanced AI/Machine Learning insights, ChatGPT-4, an AI language model from OpenAI, teamed up with well-known financial technology company Zoonova.com in August 2023. By combining features like AI-driven calculations, pattern recognition clustering, sentiment analysis, and interactive charting, this partnership aims to revolutionize the field of stock and ETF research and enable investors to make more informed choices.
Additionally, the market is expanding due to the growing usage of AI in the healthcare sector, which enables physicians to make more informed decisions and identify health disparities that endanger patient outcomes. But there are significant barriers to industry expansion, including the scarcity of augmented intelligence specialists and problems with data collection, annotation, and model software training throughout technology deployment.
Scope of the Report
The market for augmented intelligence is estimated and evaluated in this study for the past, present, and future. The market estimates in the report were established through a thorough research process. The recognized research strategy makes use of a variety of research channels, such as primary, secondary, and subject-related expert input.
In addition to the current market dynamics, the effect of several economic, social, and political factors is taken into consideration while estimating the seasonal affective disorder market. Different regulations, government spending, and the growth of research and development also determine the market statistics. Market fluctuations, both positive and negative, are factored into the market estimates.
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