5 Ways Artificial Intelligence Will Disrupt the Role of Project Managers
We are already living in the era of technological advancements that have dynamically changed the world economy and its various components. IoT, Big Data Analytics, Blockchain, DevOps are only some of the technologies that organizations are adopting and incorporating in their operations these days. Among these new technological advancements, AI is probably the least explored. Artificial Intelligence or AI has been slowly but steadily inhabiting our lives. Telecom industries and Manufacturing industries have started incorporating the use of AI in their operations and allowed human beings the chance of recognizing its potential benefits.
However, the biggest impact that AI possesses is on the workforce. The project manager’s role of analysing the available data, predicting market trends, assessing the risk associated with the success of the project, and many more can be taken over by AI in the future. The Project Management Institute (PMI) has highlighted AI to be one of the top three disruptors in Project Management along with Cloud Computing and IoT. When that happens, the role of a Project Manager will transform into a Project Leader where they lead and direct the project management team rather than manage it.
Listed below are 5 ways in which AI will disrupt the role of a Project Manager:
- Data Collection – Collecting data on the project and comparing notes on earlier projects to check their success or failure rate will be made easy with the help of Artificial Intelligence. Traditional project management operations will become outdated very soon replaced with the fast-paced data analysis of AI.
- Trends Analysis – With the help of AI, project managers will have detailed insights on the latest trends of the economy having access to the latest publications, reports, and surveys. It will allow them in making strategic business decisions by accessing the recent trends analysis documents.
- Market Prediction – AI can use Big Data Analytics to predict market trends and forecasts. A work that takes a lot of time and effort when done traditionally can be achieved within seconds using AI. Relevant information generated can be utilized to successfully deliver projects on time and within the budget.
- Risk Assessment – Project Managers need to assess the risk associated with the project in advance so that they can be prepared for any kind of risks that will affect the timely delivery of the project. AI can do this efficiently by comparing previous project data within a short period.
- Resource Optimization – Allocating resources like budget, equipment, and workforce is traditionally handled by the Project Manager. This role can be easily taken over by AI, which can use algorithms and calculate the efficacy of the project. It can create imaginary scenarios and present reliable data to optimize resource allocation.
We have already seen the traditional workforce being replaced by machinery for the last three decades. At the rate AI and RPA (Robotics Process Automation) are evolving, we can soon see the advent of these two modern technologies in our daily lives in a much bigger way. Thus, project managers can start upgrading their knowledge and skills to match the evolving trends in the project management industry. Educating themselves on the advent of AI and other similar technologies in project management will help them achieve the project objectives as well as future-proof their career.