IIRC, game requires 2GB VRAM.

However, right now is the worst time to upgrade to a new vid card, since the new generation of video cards are coming in a few weeks.

*edit:

As you suspect, your CPU and RAM should be fine but your GPU isn't going to be powerful enough or have enough VRAM.

Give it a month or so and you have hit a good time to upgrade your GPU. Both Nvidia and AMD are releasing a new range of GPUs which should offer good performance and efficiency. Nvidia's 1080 and 1070 are already announced, with the 1060 likely releasing in September I believe. AMD product details to be announced at the end of the month and they should offer very good value for money if the PR is to believed.

I'd strongly suggest waiting if you can. Post here again in 4-6 weeks and we can give you some good options if you like.

To give you some idea of how the game runs under different settings and hardware configurations you can browse benchmark results here:

(Click "More Filters" to see more options) 

https://www.ashesofthesingularity.com/metaverse#/ladders/benchmark/overall/High_1080p?viewType=myself

On the other side of that, even with new stuff being announcing and coming soon, it will also be a great time to check out the deals that will be coming up also.