It seems like AI – artificial intelligence – was always just around the corner, for my entire career. But now it's finally coming, and project portfolio management, or PPM, is one of the more unlikely arenas where it’s emerging. It’s not here yet, but it’s not far off, so let's explore exactly what’s coming.
“AI is about to revolutionize how PPM leaders leverage technology to support their organization." That’s the first line in Gartner’s latest assessment of AI in the PPM space, and they aren’t wrong. PPM solutions will become voice integrated with conversational AI. That will make interaction with the solutions not only more intuitive, but will also help to drive real value by eliminating the need to ask the exact right question in a reporting query.
Machine learning will feast on the massive amounts of data that PPM solutions maintain, delivering steep growth curves that will quickly improve the quality of estimates, risk assessments, forecasts and countless other areas of portfolio and project delivery. And robotic process automation will not only eliminate expensive, low value, manual tasks, it will also optimize workflows and improve efficiency in every aspect of the portfolio lifecycle.
These technologies are closer than you think. You’ll start to see them within the next 12 months, and within three to five years they will be commonplace. And that opens up a whole new level of performance that you can only dream of today. But only if you choose the right PPM partner – one that understands AI and is committed to leveraging it to improve the quality of your business.