How AI Will Change the Future of Project Management
The artificial intelligence buzz is already shaking the current business landscape.
Today, a lot of businesses across various industries are scrambling to get their share out of this promising technology. But, there is still another bunch of sluggards that are still skeptical about whole AI buzz – some even fearful – of how it’s going to impact their work culture, the society and workplaces too.
According to a recent survey by Atlassian, about 87% of respondents were afraid that AI will change their job in the future (by 2020). And, while 86% of those surveyed were excited about the new technology, about 87% of the respondents were reportedly skeptical about adopting AI. They still believe that nothing can out-do human potential, regardless of impressive advancement in artificial intelligence and AI-enabled tools like CRM software or project management software with AI capabilities.
What exactly is project management AI?
This is an AI-enabled system that can perform daily administration and management of projects without needing human input. It will help you automate simple project sub-tasks. It will also help develop an understanding of project performance. Thanks to project management AI, you can use the system to analyze and also uncover project insights, make your recommendations or even perform more complex tasks. Besides, it will also help you made informed decisions based on the insights provided, sometimes in ways human beings can’t do it. That way, the IA-based project management software will not only help you save time but it will also help improve outcomes for your team and projects.
Project management AI isn’t simply using bots like Hipchat bot to quickly check on the status of a project task. Besides, it isn’t running machine learning algorithms that help you predict estimates for various tasks. The magic happens when you combine the bots and algorithms together that you will realize what AI can do.
AI – and the future of project management
Today, AI-based project management software industry is still in its infancy. However, quite a few software development companies are already working on tools and smart algorithms that resolve some of the greatest project management woes. While there is still a lot of project management software out there, their uptake is still lacking. But, the question is, how will AI shape the future of project management?
Here is a roundup of a few things AI is poised to change in the industry:
- Help interpret project management data
Unlike in the past, the volume of data churned out by different devices in monstrous. Unfortunately, the current technology has limited capability for handling such large swaths of data. That is where AI-based project management software comes in handy. Based on various data-sets, the system can warm the managers before things go south. That way, managers can study the problem and hopefully take preventive or corrective measures. For example, you could have scenarios like unexpectedly low output, heavy resource loads, under-capacity, or eve over-capacity. The project management AI system can also give project managers advice based on the skills of a particular team, or an individual needs to be trained.
- Task prioritization
It is not easy to prioritize tasks, especially where you were working in teams. AI makes it easier to make an assumption with regard to the available data and thus help the team better understand their actual priorities or focus on a particular task.
- Help sustain holistic & Nano Project management
If you are project management expert, C-level expert or a simply a business leader, you are faced with a number of responsibilities down the line project execution. Thanks to AI algorithms, it is easier for project managers to delegate hundreds of tasks to various people in your team. Then the system helps the manager to maintain a holistic view of the projects and the teams.
The accuracy with which these systems perform the tasks is comparable to the Nanotechnology – an AI-based cancer diagnosis technology that analyses billions of cells in the body to detect the cancerous cells. In the same way, the AI system does it with 95.5% accuracy.
This is the kind of accuracy and precision that business wants especially when they are racing against time in pursuit of potential constraints and bottlenecks that might hinder the progress of the project. Then using project management AI tech, the project managers can easily and quickly release the bottlenecks.
- Re-planning project
There are areas where AI functionality surpasses our capacity as human beings especially when executing tasks that contain a thousand of tasks. At this point, we don’t require project managers to re-plan everything (and, even if we required them, it would be too tricky for them to perform). But, the system will do it better.
- Better and efficient analysis, insights and prediction
When you have gigabytes of data, it is beyond us as a human being to go through such information, analyses it and probably use it to make predictions. However, AI-based task tracking software will not only help analyze it but will also offer useful insights that can be used to predict the future.
- Resource Matching
Efficient resource allocation is very critical to avoid a miscarriage of the project along the course of execution. Project management AI system’s learning capability helps bring forth local knowledge. Now based on this knowledge, the project manager can easily deduce the areas that have sufficient resources and where there are shortcomings.
That way, it becomes easier for the manager to make a better decision. The system also performs non-biased priority checks based on the set of rules (algorithms) set the project manager or the developer. That way, resource assignments becomes easier; the manager can determine the capacity levels of the employee and also get feedback on the employee’s behavior.
Summing it up
Despite the slow adoption of AI, a lot of companies are slowly realizing the importance of task tracking software AI when it comes to the management of their projects. AI is helping managers make better resource allocation, and delegate takes and view the project holistically as it rolls down the path of execution. Soon, AI will be the engine that helps project managers deliver better results, efficiently and within the specified time-frame.