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AI augmentation to Create $2.9 Trillion of Business Value in 2021

Augmented intelligence reduces mistakes while delivering customer convenience and personalisation at scale, democratizing what was previously available to the select few

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"A tectonic shift is happening in AI. Nearly 85 per cent of enterprises globally will use AI in some form or the other by 2020.

Artificial intelligence (AI) augmentation will create $2.9 trillion of business value and 6.2 billion hours of worker productivity globally in 2021, according to a forecast by Gartner.

Augmented intelligence refers to a human-centred partnership model of people and AI working together to enhance cognitive performance.

This includes learning, decision making and new experiences.

“Augmented intelligence is all about people taking advantage of AI,” said Svetlana Sicular, Research Vice President at Gartner.

AI has the potential to increase India's annual growth.
AI has the potential to increase India’s annual growth. Pixabay

“As AI technology evolves, the combined human and AI capabilities that augmented intelligence allows will deliver the greatest benefits to enterprises,” she added.

Customer experience is the primary source of AI-derived business value, according to the Gartner AI business value forecast.

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Augmented intelligence reduces mistakes while delivering customer convenience and personalisation at scale, democratizing what was previously available to the select few.

“Augmented intelligence is a design approach to winning with AI, and it assists machines and people alike to perform at their best,” Sicular said. (IANS)

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IIT-Madras Develops AI Model for Learning and to Solve Engineering Problems

The researchers utilised a data-driven AI and a deep learning model to arrive at solutions for engineering problems after training the AI with data sets

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IIT-Madras
The researchers of IIT-Madras are going to establish a start-up to deploy their AI Software called 'AISoft' to develop solutions to engineering problems in varied fields. Pixabay

The Indian Institute of Technology, IIT-Madras on Monday said its researchers have developed algorithms that enable novel applications for artificial intelligence (AI), machine learning and deep learning to solve engineering problems.

The researchers are going to establish a start-up to deploy their AI Software called ‘AISoft’ to develop solutions to engineering problems in varied fields such as in thermal management, semiconductors, automobile, aerospace and electronic cooling applications.

“We tested AIsoft and used it to solve such thermal management problems. We found it to be nearly million-fold faster compared to existing solutions currently used in the field,” said Vishal Nandigana, Assistant Professor, Fluid Systems Laboratory, Department of Mechanical Engineering.

“Our AI works on any generalised rectilinear and curvilinear input geometry. Our research saves the computational time, which is the bottleneck to solve most engineering problems, Nandigana added.

The researchers utilised a data-driven AI and a deep learning model to arrive at solutions for engineering problems after training the AI with data sets.

These prior data sets can be from existing big data in the relevant engineering industry where there are lots of experimental data available.

IIT-Madras
IIT-Madras on Monday said its researchers have developed algorithms that enable novel applications for artificial intelligence (AI), machine learning and deep learning to solve engineering problems. Pixabay

Also, if data is not available for training the AI, it can be generated using commercially-available CFD (Computational Fluid Dynamics) software on small independent pieces of the full-blown problem.

This idea is new and is only now being looked at by a few research groups across the world. Most of these research groups use Convolutional Neural Networks (CNN) or C-GAN (conditional generative adversarial network) to solve engineering problems.

They have also developed hardware products using graphics processing unit (GPU) and multi-threading processing to solve thermal management problems in thermal and electronic cooling industries.

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Both the software and hardware products are several times faster than commercial numerical method software and open source software in the market.

These algorithms will solve a lot of pressing problems for industries and can also be used for educational purposes. (IANS)