Unless you've been living under a rock, you're no doubt aware of AI's sudden ubiquity, how it's disrupted virtually every industry and all corners of life. The world of manufacturing is no different, with many product development teams using AI to optimize their processes and help them achieve a trajectory of sustained growth. Simply put, AI and machine learning can be used to automate time-consuming tasks, freeing product managers to spend more time on rich creative work.
But how exactly can product development teams incorporate AI into their day-to-day processes? Consider just a few examples of AI's utility.
5 Ways to Use AI in Product Development
1) AI can provide data analysis and predictive modeling.
One of the main roles of the product manager is to sift through internal company data, seeking insights that might be usable or actionable in some way. Analyzing huge quantities of data is precisely what artificial intelligence is good for, and product managers can use AI to quickly generate accurate, relevant information that's easy to understand. Specifically, AI can help product managers identify production patterns or consumer trends that can serve as direction for the engineering or marketing teams. This type of data analysis can even be useful when presenting a new product iteration to a CEO or other decision-maker, especially when there's a need to request additional funding or resources.
Predictive modeling, as powered by AI, can be invaluable for preparing for the future. Analyzing past and present data sets allows AI to predict future trends in customer behavior or product demand. This allows product managers to ensure products optimally fit the market of tomorrow, not just the market of today.
2) AI can be used for a range of creative activities.
Product development teams engage in a number of creative processes, and AI can be an effective way to make those processes more fruitful. Examples of these creative endeavors include:
Brainstorming new ideas to share cross-collaboratively with other teams or departments.
Quickly drafting documents, summarizing important product features or benefits.
Planning and forecasting upcoming projects.
When leveraged correctly, AI can enhance, rather than hinder, a product development team's creativity, removing some of the more tedious tasks and allowing them to focus on projects that add immediate value.
3) AI can be used to write customer stories.
Effective product development requires knowledge of consumer preferences and demands. One way that product development teams can gain this knowledge is by creating data-driven buyer personas and customer narratives, outlining some of the needs, values, or pain points that motivate purchasing decisions among target consumers.
Creating these stories can take a lot of time and labor, yet here again, AI can be used to streamline and expedite existing processes. Product managers can use AI to help generate customer stories that allow them to align product specifications with consumer expectations.
4) AI helps outline features and benefits.
AI has a generative design that can empower designers and engineers to create information highlighting a product's most important features and end-user benefits. This allows product development teams to spend more time enhancing and fine-tuning their product, as opposed to creating endless sets of documents.
The feature and benefit spotlights can then be passed along to members of the marketing and sales team, providing direction for how to position the product for maximum success. Additionally, these documents can be used to develop scripts for sales or customer service calls.
5) AI provides answers to critical questions.
Finally, it's worth noting that AI can be used to augment existing tools in the product manager's toolbox, such as the product roadmap. Roadmaps provide helpful visualizations of the product development cycle, but sometimes it takes some time to actually isolate or extract the needed information. AI may help product development teams to more quickly get the answers they need from a roadmap.
What Makes a Good AI Product Manager?
It's also important to note that product managers who work with AI require an innate understanding of machine learning's benefits, as well as limitations. Specifically, AI product managers need to possess the following qualities:
Data Literacy
AI and machine learning draw from vast data sources to address important questions about a product or a customer demographic. To actually gather, store, and use this data requires the input of skilled data scientists. The best product managers need a baseline level of data literacy, allowing them to collaborate effectively with these scientists. This allows the product manager to ensure the highest quality of data, and the most focused, effective inferences.
Problem Mapping
It also helps product managers to have some experience identifying particular problems or pain points, then mapping out different solutions. AI can certainly help here, but product managers need to have some foundational skills in place to intuit how best to use AI-generated solutions to address specific problems or concerns.
Communication Skills
Finally, product managers always benefit from having robust communication skills. Being able to convey the value and findings of AI to their different product teams, as well as other stakeholders, is critical. The best product managers possess a high level of empathy, plus precision and clarity with both oral and written communication.
AI Makes Product Development Easier
AI obviously isn't going anywhere. It's become well-integrated into everyday life, and already plays a huge role in a range of industries. Product development is no exception. The question is, will product managers be able to adapt to this new technology?
Doing so will require a careful knowledge of all the ways in which AI and machine learning can benefit, but also clarity about AI's limitations. Skills with communication and problem mapping, plus general data literacy, are also invaluable for successfully using AI for product management.
The bottom line: AI and machine learning tools can help make the product development process go much more smoothly, automating tedious and time-consuming tasks while freeing more time for creative work. Consider strategic ways to incorporate AI into your existing product development processes.
