Artificial Intelligence: The Next Step for Project Management
It is a well-known fact that the majority of projects are finished late or fail to finish at all. In fact, according to Standish research, only 33% of all projects completed successfully. The time and cost overruns of late or failed projects cost the global economy anywhere from tens to hundreds of billions of dollars each year.
Since the Stone Age, when project managers planned projects using only pencil and paper, to the invention of waterfall and later to the agile project management method, people have tried to come up with new methods for making project planning and tracking more accurate and reliable.
But still in 2017, projects run late and cost more than they were planned for. It seems new methods for project management are not the answer to project management's problem. Maybe we need to think out of the box to help figure out a better way of planning, tracking and managing projects.
With that in mind, a technology called artificial intelligence could save the day. Google is using AI for better search results, Amazon is using it to better match buyers with the products it sells. Incorporating artificial intelligence into project management software can enable us to learn from the past and current projects and applies the learning to future projects.
Keep in mind we are not talking about replacing the project
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