- September 13, 2018
- Posted by: track-admin
- Category: Project Management Tips
It is undoubtedly a given that Artificial Intelligence (AI) is the next evolutionary step and the future of businesses. However, many do not realize that the future is already here or much closer than foreseen. AI incorporates machine learning as well as decision making abilities that were once exclusive for human minds only. However, now technology has advanced to the point that even computers can do and think the unthinkable with the help of a group of algorithms that can automate repetitive tasks and produce usable output data.
A company has many projects from software to logistics to finances and every one of them require planning, managing as well as monitoring. Can these projects be made easier, faster, more cost efficient, with less mistakes and more analyses with the help of AI? It most definitely can be and here are some avenues of project planning in which AI can aid project management:
Make your life easy
AI can be used in project management to automate repetitive tasks, which it already is doing to quite an extent especially in assembly line procedures. Project management tasks such as tracking time, reporting progress, etc. can be handled by AI leaving managers and employees free to work on the more analytical tasks of the project.
Better preparation for future challenges
Managing a project is not just about managing and delivering the required prerequisites. Interdependent play a major role in making the outcomes unpredictable. Project members and team players can estimate the external factors based on intuition, previous trends and speculation. However, AI can incorporate more patterns of trends and combinations to come up with more consistent and trust-able analysis of external forces. This in turn can reduce the risk associated with a project.
Data based forecasts
Data entry of every small aspect of a project is a tedious job that most employees do not provide diligently. AI can be used to encourage employees to provide more comprehensive and minute data. Moreover, AI can be used to predict and fill in the blanks according to the available data. This will lead to more accuracy in even the smallest of the data.
It is pretty evident how our smartphones are becoming smarter by each passing day. They can predict what we will type next to when we sleep and when we are walking. This is a basic process of monitoring and predicting behavior but can be used in more impactful avenues.
AI can be used to unobtrusively collect metadata (a set of data that gives information on other data) of employees. Project managers believe that more can be learnt from this metadata than seeing the actual work output.
Better collaboration and coordination
Previously, the project manager was the prime controlling and monitoring figure in any project. However, now due to AI, the role of a project manager has become more of mentor and coordinator than an authoritarian. Due to technology everyone is connected in real time. AI can make algorithms that can decide who will complete what task in a way that can be most optimum to a project. This leads to improved and more efficient coordination amongst team members regarding any project.
AI is undoubtedly the new game changer in the market and businesses can benefit a great deal by utilizing this powerful technology. However, many people are fearful that AI will replace them and they will be unneeded for their current jobs. No doubt AI will reduce the number of jobs that was previously performed by human beings. But the bright side is that people will be free to perform more critical jobs that a machine cannot carry out.
Latest studies also reveal that AI is still 30 years away from being completely self-aware. Until that time AI can be used in projects to reduce cost, improve efficiency, and intelligently collect data. All these aspects will aid in decision making and also in the prediction of future trends.