AI-Powered Project Management: Your Key to Success

Is project management ready for artificial intelligence? Many organizations are already using AI to improve how they manage projects, and others are laying the groundwork by developing a project data strategy.

In addition, at least a dozen vendors have developed AI tools specifically for project management. AI technology is an incredible opportunity to improve how we manage projects and significantly improve project success rates.

Fear and skepticism of new technology are common, especially when there is a lack of understanding of how it works. At the heart of AI technology is a software algorithm that learns from data. The three most common learning methods are:

• Supervised learning contains datasets that are labeled. For example, with a series of projects labeled “successful” or “not successful,” AI software builds a model of what project success looks like and compares the successful image to new projects before they begin.
• Unsupervised learning classifies data without using labels. Risks can be classified or grouped to find a common cause or mitigation strategy.
• Reinforcement learning is based on learning from trial and error. Project managers refer to this as experience. Decision-making is a powerful AI capability, and technological advances put humans at a significant disadvantage.