IMPACT OF AI ON PROJECT MANAGEMENT
Artificial Intelligence is known to be “The New Electricity” of modern times. Its being widely adopted in almost every field. AI mimics simulation of Human Intelligence processed by bots or machines. Some of the applications of AI include Localization and Decision Control in cars (L1 – L5), Advanced Propulsion of Rockets, Tracking Weather forecasts, Predicting Seismic activities, Gaming industries.
AI is used everyday in daily routines including scheduling appointments, booking reservations, emailing invitations. The purpose of AI is to adapt and be able to handle compounded tasks and assist in Project Management.
Data Analysis is also very crucial since, AI must have access to data sets, properties and inter relationship between them. The system or model must be trained how to react to specific actions and hence uses advanced algorithms. There are various types of AI:
ARTIFICAIAL NARROW INTELLIGENCE: Its generally used to perform a single task which is performed efficiently and with intelligence. Applications include Voice Assistant, Speech to Text and Text to Speech recognition.
ARTIFICIAL GENERAL INTELLIGENCE: It’s used to perform various tasks and to keep learning and improve its efficiency. It can be trained to mimic the human intelligence. Applications include ADAS features in Automation.
ARTIFICIAL SUPER INTELLIGENCE: It is more powerful and much more complex compared to the others. The objective is to think about complex abstractions which are limited to human intelligence.
With respect to Project Management, AI is used to perform daily activities of managing and administration of complex projects with minimal or no human input. It’s not only used to automate tasks, but to also develop an insight and deep understanding of critical areas or bottlenecks in Project Management. The objective is to save time and improve outcomes for all projects and teams.
THE IMPACT OF AI ON PROJECT MANAGEMENT INCLUDE:
COST REDUCTION: Advanced Software powered by AI is used to minimize overall Cost Reduction. AI can be made to automate mundane and redundant tasks, thereby allowing team members and project managers to focus on critical sections of Project Management. Quality of work is improved, and labor cost is reduced. One of the main reasons of adopting AI is to automate and reduce overall cost reduction.
PREDICTIVE ANALYSIS: AI for Predictive Analysis involves identifying the specifics for previous projects to determine which worked and which did not. In general AI is used to predict and improve visibility to Engineers and Project Managers. The budget can also be estimated if its within the proposed plan or not. Localization and Decision control serves as the heart in providing Driver Assistance, Collision avoidance systems. Most advanced vehicles have LIDARS to Map real time environment and advanced filtering techniques such as Kalman Filters are used to Identify Objects, distance, anomalies, determine the safest route possible.
ENHANCING VISIBILITY PRE-RISK DATE: Unlike Humans AI is better at performing complex and repetitive tasks, its used to provide better visibility and administrative control for required projects, AI powered software can be made to detect risks early on before they pose a serious threat to the overall quality of the project.
PRIORITIZATION OF TASKS: When working in teams its not simple to prioritize tasks. AI helps make it easier with the available data and helps team members to understand the importance and focus on the required task.
RE-PLANNING: Dealing with thousands of tasks can be complicated for humans, where as AI is perfect for re-planning, in most cases project managers are not required but the system does it better and hence will be less prone to human errors.
PREDICTION AND EFFICIENT ANALYSIS: With gigabytes to tera bytes of data, its beyond the human realm to go analyze every information and make accurate prediction. There are several tools available for AI for tracking the tasks and provide useful insights that could determine the future.
RESOURCE MATCHING: In order to efficiently allocate resources its crucial to avoid any setback along its trajectory of execution. Based on this project managers can narrow down areas or sections that has enough resources and highlight any drawbacks. In this way it helps managers to take the best decision. It can be used to perform both biased and non-biased priority checks depending on the set of rules or standards established by the developer or manager. Hence allocating resources become simple.
11 Impacts of Artificial Intelligence on Project Management
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