How to Make Use of Artificial Intelligence in Project Management

Business

In simple terms, artificial intelligence is a technology that replicates activities that would normally require human involvement. Earlier we have used Macros in Excel to automate our daily repetitive tasks. We can treat it as the simplest example of AI. Similarly, we use AI technology in our day to day tasks but we never realize it. Take for example the use of AI in GPS navigation. You can find the quickest travel route to your destination avoiding traffic jams. They combine satellite data with current traffic patterns to give you the best route.

Understanding Artificial Intelligence

As mentioned above, artificial intelligence is a comparatively newer technology which replaces human involvement in some activities. As per recent search trends, many potential trends have listed out AI as a required skill for future job seekers. For example, when it comes to machine learning, 94.2% jobs listed have artificial intelligence or machine learning as a prerequisite. Similarly, 75.1% jobs associated with data sciences require AI as a skill too. The purpose of this technology is endless, with new facets being discovered everyday. Through the following sections, we will look into the codependency between artificial intelligence and project management which can be used to make work easier and better.

Need of Artificial Intelligence in Project Management

People who work with project management software often are well aware of the challenges that can come while assigning tasks. The very basic reason for adopting AI in project management is that it is what our world requires right now. People who evolve with time stay ahead. Additionally, rather than wasting time on facilitating functions, the project managers can pay more attention on innovations and find ways to deploy better efficiency in the company. More and more companies are moving towards adoption of task management software to delegate the functions in a more effective manner. Additionally, AI can help in performing the following functions:

–     A personal digital assistant for managing your daily tasks

When it comes to project management, there are many daily tasks that need to be performed on a loop. With a project management software or a similar functioning option such as Pipefy, you can make use of features such as creating process templates on a daily basis. You would not even need to waste a resource’s time for creating email templates when you adopt a project management software. AI also continuously takes in data, draws out patterns and even points out inconsistencies if any. This will help save capital spent on workforce, recruiting costs and also avoid any mistakes due to monotonous work of nature or work overload.

–     Ensuring better communication

With preset email templates, customer interaction records, AI can pick on the kind of customer your brand needs to interact with and what is the type of communication that is expected. In a specialized company or in a finance company, having proper content strategists is a rare occurrence. However, with AI in place, communication would never be an issue again.

–     Helps in increasing the productivity of your entire team

A task management software is the simplest answer for the million dollar question- ‘How to get my team to perform better?’. With the help of AI, the delegation becomes much easier. But, what is even better is the fact that the scope of clerical errors reduces. This helps your team in concentrating on intricacies of the process. With features such as connections, the entire team can stay in touch with each other. This will also help in solving errors immediately thereby saving up on time. Additionally, the entire team can be held accountable with performance track records in place. This will ensure that the managers are able to supervise with the help of a click and do not have to waste time in manually paying attention to meagre tasks performed by the team members.

–     Analyzing the pros and cons of a project’s performance

In today’s day and age, gauging the results of a project is really tough. Most of it is quite unpredictable. However, with the help of AI, trends for common mistakes can be set and they can be avoided in the future.

Most of the projects are unpredictable but AI can help monitor the performance of such projects and allow us to make decisions based on that  information later on. AI can help us predict deadlines that might be missed. It can help keep track of team member productivity, emerging risks and quality levels. These predictions will help to calculate the probability of delivering on time, in control of thebudget, assignment of the best suitable team member to a specific task, compressing schedules if needed and responding to a particular risk.

Specific Functions of Artificial Intelligence in Project Management

With a management catalyst like Pipefy, you can make use of features such as integration, and maintaining database technically without much human involvement. All of these features are just basic functions of artificial intelligence in a project management software. Additionally, specific features of AI are as follows:

–     Initiation of projects

Most decisions need to be undertaken by leadership before a project gets finalized. But, they need assistance of tools such as risks and rewards, running investments, forecasts for the future market performance amongst many others. All of these things can be done by AI while a project is being initiated.

–     Planning of projects

Artificial intelligence helps in carrying out predictive planning as well as automated matching of  required resources. A comprehensive estimation can also be done with the help of this tool. For most entities, project management is done better by streamlining the processes and making better decisions driven by AI data.

–     Execution of projects

Artificial intelligence is most useful for project management at this stage. It can create a workflow which is based on similar projects undertaken previously. After which, AI can also help in the management of workflow and update it as and when necessary. Additionally, the output quality can also be monitored. It also connects you to the resources, and checks on their availability in real time based on your requirement.

–     Conclusion of projects

With the help of AI, the last stage of project management can be made more efficient. It can bring in a lot more structure by performing 24/7 closing processes as opposed to periodic closing done manually.

AI over a conventional Project Manager

The truth of the matter is that we require both – Artificial Intelligence and a dedicated project manager for effortless progress. The potential that AI has in store cannot be denied. Large entities such as Netflix and Amazon are adopting artificial intelligence to stay ahead in the game. Even so, AI is still dependant on the data fed to it. If there is a shortcoming in the data, then it can create a problem. For it to perform efficiently, human input is necessary. Since it is still in its development stage, human input is constantly required for AI to be used to its maximum potential.

While AI can be utilized for communication with a stakeholder, a human manager is required for practicing skills such as negotiation, diplomacy, constant follow ups and even emotional intelligence. All of these factors still play a huge role in smooth running of a business. Hence, both- AI and project managers are required to carry out projects and achieve maximum performance. With correct planning, both can be utilized for getting profitable results. So, in a nutshell, AI paired with good project management skills  can be used for getting great results.

Author Bio:

Shyamal Parikh is the CEO of SmartTask, a project management tool. Through online collaboration, SmartTask helps companies increase employee productivity by as much as 40%.