Artificial Intelligence (AI) is not new, but in 2023 developments in this technology have catapulted it onto the news agenda on a daily basis.
Each sector – and business department – is reviewing how best to harness and adapt to the evolving impact and opportunities presented by AI and its various branches, as well as how to safeguard the future by staying ahead of the curve. Or if they are not, they should be.
Current relationship between AI and Project Management
Despite the hype, at this point the impact of AI on project management day-to-day is still relatively minor.
One exception to this is the area of risk management, in which machine learning (ML) is already serving as a useful and cost-effective tool to increase efficiency and productivity. However, change is certainly on the cards for project teams over the coming years.
Gartner predicts that by 2030, 80 per cent of project management tasks will be carried out using AI. Functions including data collection, tracking and reporting, which have until now been carried out by project management teams, are expected to be taken over by AI in a revolution of how individual and portfolios of projects are selected, tracked and managed.
Read more - Gartner predicts 80% of project management tasks will be eliminated by 2024 -
What are the benefits of using AI in this field?
The potential benefits are significant and growing. For example, using AI can help business leaders to leverage their data to select the ‘right’ projects to work on and prioritise - in other words, those projects that are most likely to be successful and most beneficial to the business. This is because AI and machine learning can detect patterns in large amounts of data and use these to draw conclusions and make predictions. Importantly, by taking out the human element in these predictions, it removes the risk of bias.
Detailed planning and setting realistic schedules are an important aspect of successful project management. By integrating AI into the process, managers will be able to analyse and incorporate learnings from their data from previous projects to identify the best use of resources and enable better management of schedules in the future.
By taking out the human element in predictions, AI removes the inevitable risk of bias.
Of course, using the experience of previous projects to better plan for the future is something all project teams should be doing anyway, but by using AI, teams can maximise and speed up this process by analysing large amounts of project data that it would not be practical or time-efficient for a person to review.
Saving the valuable commodity of time is another key benefit of harnessing AI. An integral part of Project Management Offices (PMOs) is project reporting, monitoring and oversight. The ability to use AI to perform repetitive administrative tasks such as generating status reports and performing data analysis – at speed – can dramatically improve overall oversight of a project, or a portfolio of projects, as well as free up precious time for managers.
Another aspect is testing. A key part of delivering a project, such as launching a new platform or system, will involve an intense period of testing to be sure everything is functioning correctly and that any kinks are ironed out before going live. AI allows project teams to automate how and when to carry out these tests, making the process more efficient and time economical.
As AI involves using technology to carry out tasks in a more efficient way without the need for human involvement (or potential error or bias), there has naturally been speculation around the impact of AI on PM jobs. Will AI replace project managers?
In reality, there will always be a need for people to bring an essential human perspective and the role will evolve accordingly. There will still be a need for the soft skills involved in managing a team. In fact, the time freed up by technology will allow project managers to give greater attention to people management, which is likely to have a significant impact on project success, with productivity levels high. More time will also enable managers to apply their business acumen for more strategic planning.
What challenges may businesses face?
Like any evolving landscape, there are some potential challenges for businesses to be aware of and prepared for. For example, for AI and its multiple applications to be effective, it requires a large volume of high-quality data. If the quality of historic data is not sufficiently high, the performance – and benefits - of AI will be significantly reduced.
Another challenge is the set up and integration process, as well as ongoing AI ‘maintenance’. Project management involves many well-established processes and there is likely to be some reluctance or uncertainty around adapting these to incorporate new technologies. It is an area that will need careful planning and sensitive execution.
Furthermore, AI will not stand still. As the technology evolves, there will be a need for businesses and project teams to regularly update and maintain their AI models, something which will involve an investment of time and money. Businesses will need a robust governance structure in place to manage this.
Now is the time for businesses and project teams to assess how AI could improve the status quo, and plan its integration.
A final consideration is that harnessing AI requires access to large quantities of data, which may include sensitive data. In this context, ongoing compliance with the regulations around the handling of such data is crucial.
Is AI the future?
There is no question that project management is on the cusp of significant change, with AI presenting a plethora of opportunities for improving how projects are picked, planned, delivered and learned from. Overall safety around the use of AI will also be a much-discussed topic in the months to come, in the run up to the AI Safety Summit in November.
Now is the time for businesses and project teams to assess how AI could improve the status quo, and plan its integration. It may make the difference between survival and falling behind, but equally an over-reliance on technology could inhibit agility. There is a fine balance to strike.
emagine is delighted to be sponsoring the 2023 PMI (Project Management Institute) Awards.