Why AI For Project Management Is The Ultimate Game-Changer

The latest innovation in workplace technology? Artificial Intelligence. AI via tools like ChatGPT has the power to transform the way teams work, collaborate, track, and analyze data. In Hive, we’ve recently added HiveMind, a real-time AI assistant that can write content, plan projects, streamline your work, respond to emails and more.

HiveMind is a new part of Hive that is available in:

• Notes
• Action Cards
• Emails

This new technology is playing an increasingly large and powerful role in the way teams inside of Hive manage their projects, share updates, and more. Read on to learn about the impact of artificial intelligence in today’s workplace — and especially how AI is changing project management.

AI for Project Management

While we’re seeing the future of workplace AI take off, the idea of AI is not something new. In the late 1950s, scientists and mathematicians were obsessed with using and learning AI. They asked fundamental questions focused around if a “computer can be smart” or “perform more” than a human brain. Since that time, computers, big data, and the sheer volume of AI research have exponentially grown, and AI has been put to the test.

All the research and growth in the workplace AI field has created a perfect application for AI: project management. The ability for AI to monitor, assess and anticipate complex situations in real-time makes it an ideal addition to any project management toolkit. With AI, task automation is achievable at a level previously seen by traditional methods. This allows decision-makers and stakeholders to gain crucial insights quickly and act upon them faster.

Benefits of AI in Project Management

Project management (PM) guides your business or group to achieve its project goals within its unique six constraints. These constraints include the following:

• Cost
• Time 
• Scope 
• Quality 
• Benefit 
• Risk 

With these six constraints, the key to successful project management is responding quickly and accurately to changing conditions or events. However, at any time in the project, internal and external factors are weighing down or trying to throw any constraint off at any second. It’s a delicate balance that requires so many moving parts that the introduction of AI in project management has been a lifesaver.

When AI is thrown into the mix of PM, it allows managers to make better decisions and respond faster than ever. Some of the key benefits of using AI in project management that can positively impact outcomes include:

Automation

Before digital project management platforms, projects were written on pen and paper or drawn out using charts and graphs. Schedules were handwritten in physical paper calendars on walls, and someone had to make any needed adjustments manually. Today, people can utilize all types of automation technology — whether it’s smart note-taking software, AI scheduling assistants or full-fledged workflow automation tools like Hive — to manage work smoother than ever. AI schedulers, for instance, can efficiently allocate tasks and resources, ensuring optimal scheduling and resource utilization.

Automation is important in business because it increases efficiency, productivity, and accuracy, while reducing costs and the chances of human errors. Automation tools can also help streamline marketing, customer service, and operations tasks, allowing businesses to free up resources, save time, and focus more on areas like growth and innovation.

Real-time insights 

If you’re like me, you may have spent hours in the past pulling up data, cramming it into a spreadsheet, and trying to make sense of the data to your supervisor. While I still wake up in a cold sweat from thinking about those days, AI has removed that process from my life. Today, you can use AI to pull real-time data analytics and insights into project performance, giving you all the information you need right at your fingertips – nightmares not included. 

Cost savings 

Ever accidentally transposed data in your work setting? Or uploaded the wrong project deck to your computer and have to redo everything? Not only does that waste time, but it also wastes money. Using AI eliminates manual errors and reduces costs associated with labor hours spent fixing mistakes. While we may not all be working in finance and using AI to help budget our accounts, time is money, and any little bit helps if you stop wasting time manually inputting or fixing errors and let AI step in and do the work for you.

Since AI systems can automate tasks such as data analysis and transaction categorization, it eliminates the need for manual labor and can reduce overhead costs. It also lessens the need for manual data processing, which can result in significant cost savings.

Risk reduction

With its ability to monitor real-time data and your progress, you can use AI to check how you’re doing and reduce risk. AI can assist with monitoring trends and recognizing potential problems early on. For example, if you’re spending too much time on a specific part of your project or scope creep is starting to become a problem, your AI can alert you of any deviations in your six constraints.

AI is revolutionizing the project management landscape, and it’s only a matter of time before AI-driven solutions become even more commonplace. With its ability to automate tasks, provide real-time insights, save costs, and reduce risks, you should consider it if you have yet to begin using AI in your daily project management toolkit.

Bonus: Creative work and organization

AI is helpful for content creation because it can be used to automate parts of the process while reducing the amount of time needed to create content. AI tools like ChatGPT can be used to generate ideas, identify trends and optimize content structure. It can also be used to quickly analyze large amounts of data, helping content writers develop more detailed pieces using fewer resources.

Additionally, AI writing tools can help writers identify the most successful types of content in different formats and on different platforms, helping them create more effective and engaging content. Furthermore, AI introduces innovative solutions for enhancing visual content, including tools like an image upscaler. This technology enables the upscaling and refinement of images and graphics, making them suitable for a variety of platforms.

By ensuring both written and visual content are of exceptional quality, AI plays a significant role in the efficient creation of more compelling and engaging content, illustrating the evolving landscape of creative work in the digital age.

Project Management AI Software to Use: HiveMind

Most project management platforms come with snippets of AI embedded in their code. We have already discussed some programs on the market today that use automation AI to speed up your workflow – but that’s not all AI can do anymore. AI can do more than assist with email templates, reoccurring tasks, and calendar planning, and with HiveMind, that rings true.

Like we mentioned above, we’ve added HiveMind to our platform, built off of OpenAI’s framework. This addition will help you anticipate what your team needs to accomplish next in their projects and can provide recommendations on optimizing workflows. HiveMind also offers machine learning capabilities, so it can continuously improve its accuracy over time.

Using this AI platform makes project management faster and more efficient without inputting all the data manually. In addition, this AI tool can help teams quickly identify problems that could lead to complete project failure. Ultimately, it saves time and money for companies of all sizes. So if you’re looking for an AI-driven project management platform, HiveMind has you covered!

The Next Steps For AI

I am genuinely thankful for the help that AI has provided me in project management. I can use this tool to help automate complex tasks and provide real-time insights into project performance, cost savings, and risk reduction – all at the click of a button. 

AI is revolutionizing digital project management and changing the future of work, and I’m here for it. While it can be scary to adopt this new technology, it’s not going to go away anytime soon, and if anything, it will continue to get better and further dig into how we do business every day.

Have you used AI in your project management tasks? Comment below and let us know all about it!