“The pace of progress in artificial intelligence (AI) is incredibly fast. Unless you have direct exposure, you have no idea how fast ‚Äì it is growing at a pace close to exponential. The risk of something seriously dangerous happening is in the five-year timeframe – 10 years at most. ” — Elon Musk
A whole lot of tremendous change has been happening in the world of technology, driven by AI and others. Automation and AI have been making jobs easier, with a lesser need for human intervention for repetitive tasks that cost a lot of manual labour. So now, employees are relieved of the mundane tasks rather than leaving them with time to focus on more complicated tasks.
Some people are living in the fear of losing their jobs, with AI taking over. According to a survey report, more than 80% of people were excited about the change, while another 80% of people were skeptical about this change.
Let us set aside our fears and focus on the best for now. AI, when implemented, can be of great support to your team, making the project management process easier and simpler. These days, the implementation of AI and automation in project management is on the rise.
Before we take you through the ways in which AI can be applied to project management, you need to get a clear picture of what project management AI is.
Project management with AI
We all struggle with project management in our respective companies. The team involved in a particular project ‚Äì developers, designers, coordinators, project managers, and everyone else on the team has a hard time as they have to make difficult decisions, perform repetitive tasks, and process data that is too complex. What if you no longer had to go through the whole stupendously tough cycle to manage and monitor your projects? This is where AI for project management comes into the picture ‚Äì now, sit back and relax while your team makes smarter decisions.
Project management AI is a kind of AI-driven system, which can be implemented to make your day-to-day project management easier. All these tasks can be automated without human intervention. The system will develop insights after understanding the project’s performance and indulge in decision-making to help automate tasks. Over time, the AI, with insights from your project, will work on improving the results of your project ‚Äì ultimately proving to be effective and saving time.
Businesses, these days, employ AI-driven project management software for their projects. A number of such tools are available in the market though not all tools come with the automation capabilities. Some parts of the project would require more automation, while others would rely more on AI. In fact, we can perceive automation as the foundation stone of project management AI. It includes integration, automation, project management that is machine learning-driven, and chatbot assistants. A number of companies already had project management automation tools in place. And have recently started to add new technology to this process ‚Äì and this new technology is AI.
Let us take a look at how AI and automation can help with project management.
1. More productive and effective results
Human-enabled tasks could come with errors that might happen mostly because of carelessness or unfamiliarity. Our aim is to reduce or eliminate all errors while completing the tasks in lesser time. AI can be used to automate some of the most repetitive tasks, such as sending notifications or reminders about delays in projects, missing a payment, or sending e-mails.
Such tasks when automated would help to save a lot of time for the entire project team. They can now use this time for more complex tasks. Also, they can invest their time to come up with innovative ideas for the advancement of their project.
With an AI-driven system in place, teams can be notified about activities or situations that could jeopardize the project cycle. Thanks to its ability of reading, analyzing, identifying, and understanding the data.
2. Automation eliminates repetition
As automation and AI strive toward improving the efficiency and productivity of your project cycle, it also takes into account the need to get rid of repetitive tasks. If sources are to be believed, employees at the middle- and executive-level are working on administrative tasks, for most of the time. When implementing AI for these tasks, it will free them of most of their time, which they can focus on more complex tasks, as discussed earlier.
In fact, the team along with the project managers can focus on tasks that are too complicated, rather than repetitive tasks. Once the repetitive tasks are eliminated, this will free up time to focus on real work.
3. Better project insights
Project analysis is one of the highlights of automation and AI in project management. This is, in fact, a big challenge in project management. This provides the managers with insights on how their project is performing against various parameters, such as goals, objectives, and deliverables.
With AI and automation in place, project managers can now predict the possible completion date of their project based on the rate at which it moves through different stages of the project management cycle. These insights are obtained from the analysis of past project management data as well as the data they have with regard to the latest project. The collected data will help the system to understand how the projects were completed in the past and the inference will help it to find out the loopholes and fix those.
This will help save time, budget, and also get rid of risks.
AI will have an impact on how organizations operate. One of the most impacted areas would be project management. It would be an excellent idea to implement AI-based project management solutions, which can help improve the productivity and efficiency of your projects, thereby saving a lot of time.