Everything you need to know about AI in product management,
Writing this article was necessary. It’s born out of curiosity, fear of missing out, and, quite honestly, fear of the unknown. AI has been a hot topic for the past couple of years. Elon Musk famously said, “AI is going to change the world more than anything in the history of civilization.” But how? How will the world change? And when? How will our job change and our industry? So many questions; it’s really not a surprise that people find them intimidating. We are on the doorstep of the new digital AI economy. According to Ginni Rometty, the former CEO of IBM – “Artificial intelligence will be the key factor in differentiating winners from losers in the new digital economy.”
Therefore, one question at a time. Today, I will address how AI may impact Product Management and how we can prepare for it. I strongly believe AI will serve as a catalyst for the next era of Product Management. Here is how.
AI will improve customer insights and will help us understand customer needs in a better and faster way. We will be able to make more data-driven decisions and prioritize features based on customer feedback and market trends in a constant loop. We are talking about the anytime/anywhere accessible comprehensive view of customer behavior.
AI will allow us to expedite and automate some decision-making processes. Artificial intelligent engines will bring automated recommendations based on data analysis. This will expedite the process of handling routine tasks, which will enable Product Managers to focus on what matters the most – strategic initiatives to support our innovative roadmaps.
AI will transform the way we approach our product-to-market strategies. A couple of reasons here. First, artificial intelligence will undoubtedly enhance product development by utilizing AI-generated code. Second, AI will allow the fastest-ever prototyping and testing, regression included. Third, product managers will now have their fingertips on immense amounts of sorted and analyzed data in real time – creating an opportunity to take more calculated risks.