Hmm.. I'm pretty sure the video memory isn't enough. 

Go to: C:\Users\"your name"\AppData\Local\FracturedMind\Saved\Config\Windows and open Settings.ini

Change the following settings:

sg.ResolutionQuality=from 100 to something like 65 for start

sg.ViewDistanceQuality= from 3 to 1

sg.ShadowQuality= from 3 to 1

sg.TextureQuality= from 3 to 1

sg.EffectsQuality= from 3 to 1

sg.FoliageQuality= from 3 to 1

r.setres= from 1920x1080f to 1360x768f 

Give that a try. I'm not guaranteeing it will work, but it's worth a shot.