AI-Driven Project Management

CHAPTER 5The Implications of AI in Project Management

Understanding AI in the business world is complex and needs to factor in a variety of global implications. As such, a working understanding requires a multidisciplinary approach. It is not enough to understand AI and its implications from a single perspective.

Most people believe that AI is a topic meant for computer scientists alone, but this is not the case: AI is a fast-growing concept that goes beyond just algorithms and coding. It is a blend of information from different domains such as mathematics and statistics, cognitive science, psychology, neuroscience, ethics, philosophy, and domain-specific knowledge. By applying a multidisciplinary perspective, we can understand the full capacity and limits of AI.

A common example of an AI project is building or operating a chatbot or virtual assistant. For instance, using ML and DL in chatbots can transform user interactions into a more productive experience. The chatbot can offer predictive analysis and forecast project outcomes from historical data for better informed decision making. Nonetheless, these powerful tools often do not overcome preconceived notions of AI, which makes it difficult for humans to embrace the AI evolution or second DL revolution. As a result, people are missing out on the time and cost savings that could otherwise be readily accessible.

According to the Project Management Institute, in the next three years, the proportion of projects being managed ...