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If there is one trend which has taken the world by storm, it is artificial intelligence (AI). From completing day-to-day activities to wielding considerable influence on workplace design , it is expected to make considerable changes in how people function and make decisions.
Companies would go through a completely transformative process once AI comes into play. A number of predictive analysis reports show that certain lines of work risk being replaced by AI.
That being said, AI is poised to benefit companies a great deal as well. With the effective implementation of AI, the productivity of the organisation can be improved. It can also reduce cost overheads, while taking the pressure off the employees.
Read on to know more about the different ways AI can improve project management in the future.
1. Tracking routine activities better
Ask any employee in your company, and you will find that administrative activities take up more time than usual. With the automation of tasks, their time on labor-intensive work is considerably shortened , which is a key benefit that AI brings in during implementation. However, it is extremely important to track the progress of employees and what they do during the day.
Resource management tools and other similar softwares which already exist are targeted to employ resources more efficiently and reduce time spent on administrative activities. With increased development of automated tools, both managers and resources can focus on completing project-related tasks.
2. Less scope for mistakes
When tasks get more repetitive or similar across projects, the chances of making mistakes increases. And AI excels at completing these tasks with greater accuracy, thus improving the performance of the tasks.
Another benefit of adopting AI in your project cycle is the increased visibility across the business. Overseeing for different project components is much easier with an automated system. Not only that, likely delays, defects risks, and other bottlenecks can be detected much faster before it affects the system.
3. Reduced costs for the project cycle
If the technology is utilised adequately, AI can actually help reduce costs to a great extent. Streamlining activities in the project cycle helps reduce overhead costs, as they make processes more efficient.
Mechanisation of processes also reduce the errors that you commit during the entire project cycle. Therefore, the company ends up saving a lot on rectifying these mistakes, and can eventually help them scale up in the future. The versatility of the system is another factor that convinces businesses to incorporate AI into work processes. Put simply, It can be implemented by both manufacturing and service-related businesses.
4. Analytics-based predictions for better decisions
Old projects have a treasure trove of information, which utilised carefully, can offer great insight on leading and delivering future projects. While different project managers would know only about the projects that they have handled, a centralised AI system can offer overarching views.
Implementing an AI system would help scan project histories digitally. It can figure out what has worked for certain projects in the past, and give educated recommendations on what should be the appropriate steps to be taken in the future. This functionality can help any new manager or resources to take better decisions in their current project. Not just that, predictions can be substantiated with graphs, charts and other graphical aids as requested.
5. Better cooperation among team players
Gone are the days where the manager directed resources on their tasks, and would also control each and every aspect of the project development. Organisations have become extremely flat these days, and differing backgrounds have raised the need for a dynamic management process.
In such a diverse team, lack of coordination between team members can pose to be quite a threat to team harmony. Incorporating AI systems would help in better coordination to carry out different tasks. Tasks can be prioritised depending on their severity, which helps teams to plan their work plan in the future as well. It also facilitates real-time decisions which can be very useful in agile projects.
Real-time decisions can be instantly undertaken with the help of AI. Instant actionable items and notifications can be used to alert employees, improving coordination among employees.
AI and other business intelligence tools are expected to make a number of tasks simpler in the near future. However, the need for project managers would not change in the future. Understanding the company goals and building a team which reflects that requires human qualities which can never be replaced by automation. Automation can be a powerful tool for team managers, which utilised carefully, can benefit companies in the long run.
Are you looking forward to AI processes being implemented at your workplace? Do let us know in the comments below.
Mahendra Gupta is a PMP expert and an expert authority in the smart workforce planning and resource management domain. He is the subject matter expert in resource management and workforce planning at Saviom Software. His experience has enabled multinational businesses around the globe to diversify their project portfolio. Follow his work here.