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Originally Posted On: https://mantralis.co.uk/ai-project-management/
The Role of AI in Project Management
AI is gradually becoming a larger part of our daily lives, raising questions about whether it will replace jobs or become a tool we work alongside. What benefits could it offer, and what potential risks should we be mindful of? The answer remains uncertain. In Project Management, we can see that the main advantage of AI in project delivery is its capacity to analyse and process vast amounts of data efficiently, but what else?
The influence of artificial intelligence is growing so quickly, impacting people’s lives through industries and our daily lives in ways we’re only beginning to imagine, it kinda blows your mind. We can’t seem to get away from it, everyone has heard about it and using it! AI is the backbone of powerful new technologies, from big data and robotics to the Internet. With the rise of AI—tools that can create content like text, images, and audio the applications and interest in AI are expanding al the time. Hey is this from AI or is it a human writing this? Dont worry
In 2023, IBM found that 42% of large companies have already integrated AI into their operations, with another 40% considering it. Generative AI is on the rise, with 38% of organisations already using it in their business and 42% looking to do the same. With these rapid changes, here’s a look at what AI developments could mean for Project Management.
In Project Management, we can see that the main advantage of AI in project delivery is its capacity to analyse and process vast amounts of data efficiently, but what else?
According to the research and advisory company Gartner, by 2030, up to 80 percent of project management tasks could be run by AI, powered by big data, machine learning (ML), and natural language processing with AI providing that solution.
So we should be asking ourselves the question of IF you want to use it, how we can get the best out of it, and what opportunities it can provide for your business. Let’s take a look at the benefits
Advantages of A1 In Project Management
AI’s increasing presence in business could bring unprecedented automation. Chatbots and digital assistants, for example, helping companies handle customer service inquiries and support employees with basic questions. By quickly analysing large datasets and visualizing the results, AI also speeds up decision-making, saving leaders time and enabling faster data-driven choices.
By analysing this data, past and current, AI enables us to make more effective decisions about project delivery. We can then predict a project’s projected performance by accounting for all relevant variables.
The main benefit of A1 in project management is the ability to process huge amounts of data.
The Benefits of Using A1 in Project Management
AI has become an important tool for project professionals when delivering projects. A report, Artificial Intelligence in Project Management led by the University of Southampton explored the general perception of AI and the ease of use of AI technology within projects.
Six key findings arose from the research:
- AI can enhance the decision-making in projects
- AI supports the problem-solving functions
- AI is most likely to be used during project planning
- AI can also improve efficiency when analysing large volumes of data in projects
- AI has the potential to enhance project success rates and reduce the risk of failure.
- AI technology can also reduce some of the unknowns in complex projects
The Pros of Human Interaction
Being human beings, we are very dynamic, and have a great number of positive traits that help us to be successful. Which include:
Empathy
We can genuinely understand and relate to the feelings of others, unlike AI and experiences in which we are more likely to experience similar experiences ourselves.
Judgement and Intuition
We are able to respond naturally and, in turn, make judgments based on real-life circumstances, emotions, and our past experiences is something that we as humans have over artificial intelligence.
Decision-making
Human intelligence enables us to make decisions that go beyond data or numbers. We consider additional factors that may impact a company’s direction, like employee morale and brand reputation.
It’s also worth noting that we often rely on moral and ethical reasoning in decision-making, both professionally and personally. While AI may understand the basic principles behind these values, it’s unlikely to provide meaningful support when these values are in conflict
The Pros of AI
AI was designed by humans and therefore relies on the information in that individuals give it. As technology grows and data becomes more complex, so will AI. Right now, pros include but are certainly not limited to:
Accessibility
Simplifies Processes: Clear communication reduces misunderstandings and ensures everyone’s contributions are recognized.
Keeps Projects Aligned: Communication tools help maintain organization and keep the project moving forward smoothly.
Enables Information Sharing: Strong communication fosters the exchange of ideas, feedback, solutions, and updates with both colleagues and clients.
While AI isn’t going anywhere soon, it still needs refining and is currently only able to analyse and perform based on the data that us humans provide it with. So AI can only continue to automate and take the place of repetitive tasks with ease, it is still up to us to make sense of all the feedback we get from it but it is up to us to make sense of the feedback AI provides and work in a collaborative way towards further innovation.
Final Thoughts
At this moment in time, there is no doubt the impact of A1 is having in all sectors of business. Where there is lots of data and events being repeated, A1 can be used to find patterns, diagnose, and problem-solve. A big challenge lies in the integration of human roles with AI, rather than replacing them. The goal is for AI to enhance predictions on project outcomes, particularly in risk analysis.
However, there is limited public evidence on how AI has influenced project planning and delivery with large or complex projects, which are full of first-hand situations A1 use is clear. Should AI act as a partner or an assistant? The role of a project professional – managing the people who deliver the projects to business will remain. Or will it? The debate goes on.
Mantralis provides project management and consulting solutions within different sectors using our unique resource-on-demand business model, which we tailor to meet the needs of our happy customers.
We believe in active engagement with our clients to ensure the approach meets their needs, as every client is different in their project requirements and specific content. We understand the purpose of project requirements of reporting and processes, whilst working with clients to ensure an optimal approach to the delivery system used for each project.
If you would like to get in touch and discuss the status of your Project Management Project, please get in touch via Contact Us | Mantralis
