AI’s been around for a while. Simply put, Artificial Intelligence is just a term for computer systems that can perform tasks that usually require human intelligence – and perform them well enough to be accepted by people.
With ChatGPT, AI went mainstream. Since it first emerged in 2022, we’ve been hard at work integrating its capabilities into our Strategic Portfolio Management solutions so the you can harness the power of AI in the PMO.
First things first. AI won’t save your organization.
AI is a tool.
AI is essentially just complex predictive models trained on existing data. It can’t predict the future, but it can identify patterns and make what is already present clearer. So, when it comes to AI, we recommend starting simple. It’s the way you use it that will make the difference. Identifying small ways to get quick wins can help you to learn how best to leverage AI, such as letting AI assist in project creation, risk assessment, or making custom chat bots based on your company documentation with Azure OpenAI.
AI is perfect for leveraging data to recognize patterns. It can help analyze projects and reduce uncertainty in future projects by detecting risks and providing project templates. For example, in Power PPM, we’ve taken advantage of millions of data points, so you no longer have to start from scratch when creating a project but can start from AI.
Even though there have been massive advancements in AI, it still can’t replace people.
AI excels at arranging and identifying patterns in large quantities of data, but it cannot think of something that does not yet exist. So, it’s still up to the PMO to take the insights and from this design strategies, create visions, motivate people, listen to concerns, and everything else that gets people on board for making changes in an organization.
AI is great at producing output – but it takes a human to identify value.
So far, a lot of AI solutions operate on externally accessible data, but to get the full benefits, any AI engine should be trained on the organization’s own data. You should have a solid data foundation in place that consolidates your data.
Furthermore, data quality is key. Cleaning up your data, e.g., removing duplicates, ensuring correct formatting, and training users properly, will improve the conditions for getting the most out of AI.
AI is a major disruptor.
So, let it disrupt.
It has the potential to eliminate grunt work and aid in data-driven decision-making. With tools like generative AI, people can produce text, search for knowledge, and manage their time differently to produce higher-quality work.
It’s the perfect opportunity for the PMO to revisit and evaluate workflows and procedures in order to ensure that everything delivers value. The goal is to get happier employees by letting them do what they’re actually good at.
It will take some work to integrate AI into the organization, but the potential is a smoother-running organization that delivers more value with less work.
Creating schedules, project templates, risk logs etc., is a crucial part of project management in the PMO. With AI, it becomes possible to generate this from not just your own data and experience but connecting to thousands of other businesses and their knowledge. This is what we’ve done with Power PPM, using the secure Azure OpenAI, to speed up the basics, giving you more time to get into the difficult parts of strategy and portfolio management.
Starting with AI may seem daunting, but with Power PPM, you’re all set.
Many companies are already reaping the rewards of AI on every level, from planning to content creation to communication – don’t get left behind. Even starting small can give great benefits to your organization.
AI can assist with scheduling, risk management, security, and cost perspectives and communication in your organization. It’s truly a game-changer. Want to learn more?
