Siddharth Karnik: Hey there, Sandeep Yadav, the seasoned pro in the world of project management and artificial intelligence with an impressive 14-year journey and an impressive lineup of certifications, including PgMP, PMP, PMI-RMP, and PMI-ACP.
Today, as we’re delving into the exciting intersection where AI and project management meet, but before we go any further, let’s explore why AI isn’t quite ready to kick us project managers to the curb. What makes us, the humans, irreplaceable in this role?
Sandeep Yadav: Thanks, Siddharth! It’s a pleasure to be here, especially with someone who’s got a wealth of experience in managing those multi-million-dollar MEP projects and carrying those top-tier certifications of PgMP & PMP. Your leadership, technical expertise, and business acumen are truly inspiring.
So, let’s break it down. The reason AI isn’t about to steal our jobs soon is the nature of our work. It’s not just about following a rulebook; it’s about dealing with complex human interactions, making informed decisions, and demonstrating effective leadership.
A McKinsey study from 2019 emphasizes this – 92% of organizations value soft skills, like leadership and communication, as much or more than technical skills. And guess what? AI still struggles to replicate those soft skills convincingly.
Siddharth Karnik: Absolutely, Sandeep! Those soft skills of communication, empathy & leadership are like gold in project management. Now, let’s dive into the realm of AI and project management cooperation. Can you share some instances where AI has been a game-changer, making our lives as project managers smoother?
Sandeep Yadav: Certainly, Siddharth! Let’s explore the nitty-gritty of how AI can be a project manager’s best friend with some real-life examples.
First up, scheduling and resource allocation. AI-powered project management tools can analyze extensive datasets to optimize project timelines and resource usage. According to data from the Project Management Institute (PMI), organizations using these tools have seen average reductions of 27% in project durations. This translates to significant time and cost savings.
And don’t forget about AI-driven risk management tools which has have shown great promise. They can analyze historical project data to identify potential risks early on, enabling project managers to take proactive measures. A Deloitte’s survey of over 1,000 project management professionals found that 64% believed AI could substantially improve risk management.
Furthermore, when it comes to data-driven decision support, AI’s capabilities are nothing short of mind-blowing. A PwC report indicated that organizations using AI for decision-making outperformed their counterparts by 6%. This just goes to show that AI can provide invaluable insights, whether it’s uncovering cost-saving opportunities or picking the most efficient suppliers.
Siddharth Karnik: Those are some really compelling examples, Sandeep! AI has truly shown its potential in helping us project managers. But, let’s flip the coin and look at the challenges. AI, like any tech, has its limitations. Can you shed light on these limitations, especially in dealing with complex human interactions and adapting to unforeseen changes?
Sandeep Yadav: You’re spot on, Siddharth. AI is pretty nifty, but it’s not infallible. Let me give you a couple of examples:
Take customer relationship management (CRM), for instance. AI-driven chatbots are all the rage, especially in customer service. However, a study by Harvard Business Review found that 86% of customers still prefer human interaction when it comes to complex inquiries. Sometimes, AI can be like a helpful assistant, but it can’t quite replace that human touch.
Now, adaptability is another critical area where AI has some growing up to do. Let’s look at the COVID-19 pandemic. When it hit, many projects had to do a quick 180 in response to unforeseen challenges. A survey by the Project Management Institute revealed that 68% of project managers had to adjust their project timelines and budgets because of pandemic-related disruptions. Human project managers showed remarkable adaptability in handling these unexpected situations, which can be quite a challenge for AI systems working within predefined parameters.
Siddharth Karnik: Those are clear examples of AI’s constraints, especially in specific project management scenarios. Sometimes, we need that human touch and quick thinking. Looking ahead, how do you see the role of project management evolving in the era of AI, and what trends or evidence support this vision?
Sandeep Yadav: The future is incredibly exciting, Siddharth. I see project management evolving into something more like a “project orchestrator.” Here’s where it gets really interesting: as AI continues to advance, organizations are increasingly investing in AI and automation to boost efficiency.
According to an Accenture report, AI could increase labor productivity by up to 40% by 2035. This implies a growing reliance on AI tools and technologies.
In response, project managers need to level up by becoming proficient in AI applications. The evidence is right there in the rising demand for project managers with AI-related skills. In LinkedIn’s 2021 Emerging Jobs Report, “AI Specialist” made it to the list of top emerging roles. This tells us that AI expertise is becoming a must-have across various domains, including project management.
Siddharth Karnik: Your vision for the future is both exciting and insightful, Sandeep. We’re indeed stepping into an era where project managers need to embrace AI, get cozy with its applications, and work hand-in-hand. To wrap things up, can you summarize your perspective on the evolving partnership between AI and project management, drawing from your personal journey and experiences?
Sandeep Yadav: In a nutshell, Siddharth, AI is a powerhouse that can supercharge project management, but it won’t be taking our jobs. The evidence we’ve discussed today, from statistics highlighting AI’s impact on scheduling and risk management to real-world examples showing where it falters in complex human interactions, all point to the importance of a cooperative approach.
So, it’s not about AI taking over; it’s about an incredible collaboration. Project managers should welcome AI as a trusted ally, allowing us to focus on what we’re best at: strategic thinking, leadership, and effective communication. It’s not a takeover; it’s an evolution, a harmonious partnership in the ever-changing landscape of project management. The data and trends we’ve explored indicate the growing relevance of this collaboration, guiding us towards outstanding outcomes in this dynamic field.
Follow Sandeep Yadav on LinkedIn: https://www.linkedin.com/in/sk-yadav/
Siddharth Karnik: https://www.linkedin.com/in/siddharth-karnik-pgmp%C2%AE-pmp%C2%AE-aa23b511/
