30 Under 30 2024

From a project management lens - Understanding AI driven business transformation

Globally, industries would need 25m project management professionals by 2030

BRAND CONNECT | PAID POST
Published: Jan 31, 2024 05:48:02 PM IST
Updated: Jan 31, 2024 05:48:47 PM IST

From a project management lens - Understanding AI driven business transformationNavigating the Global Job Market with PMP-Certified Leadership

New technologies like artificial Intelligence (AI) are not only altering the way work is done but also the way organizations transform. The allure of AI is undeniable. However, it’s important to pause and evaluate how can the technology benefit us as an organization and where in the transformation journey does it truly value add. There are numerous factors that need to be considered before jumping on the AI bandwagon. The reality of AI adoption is far more nuanced. It's not about replacing people; it's about building a conducive environment within the organization that is empowered to leverage AI and enable a cultural shift that allows AI to value add and help achieve the desired business outcome through better optimization of resources.

Many rush to adopt AI, treating it as a one-size-fits-all solution. They envision instant success, a digital revolution overnight. From an organizational perspective, it’s important to look at the long-term benefits versus short term gains. It’s important to see where technology can complement to improve efficiency and business outcome. Therefore, it’s imperative to understand if organizations are ready to undergo this AI-driven evolution of their businesses? Are they prepared to manage projects with the maturity needed to prioritize, make data-driven decisions, and execute for maximum value? Project management professionals play a crucial role in helping this dream come to fruition.

This is different from the pandemic-forced digitalization, which replaced physical interactions with online experiences. We're dealing with a disruptive technology impact, as significant as the internet or personal computers, one that will fundamentally reshape how we work, create, and connect.

To thrive in this AI-driven future, organizations need to embrace a people-centric approach, learning from past mistakes and nurturing a culture of continuous evolution. Here's how project managers can help organizations ride the wave of prosperity:

1. Define Your North Star: An AI-Driven Transformation Vision

Craft a crisp, inspiring vision that articulates your transformation's objectives and strategic ambitions. This vision should be a guiding light, not a rigid blueprint. Skilled and certified project managers can connect this vision to clear action plans, and ensure it aligns seamlessly with your company's overall strategy. Remember, AI transformation is a marathon, not a sprint. Successful organizations that have co-opted AI have not only begun their journey but also consistently invest in resources to ensure everyone understands how it fits into the bigger picture.

2. Leverage Customer and Market Insights

Deeply understand your customers' needs and how AI can help you meet them more efficiently and effectively. Use data to answer critical questions:

  • What do your customers expect within your domain?
  • What unmet needs do they have?
  • How can AI address these needs and create value?

Go beyond just analyzing data; co-create with users and partners to test new ideas and implement transformative innovations. This collaborative approach fosters a sense of ownership and ensures AI solutions resonate with your customers' needs. PMP certified project professionals skilled in techniques such as agile, etc are adept at managing such innovation processes.

3. Establish an AI-Driven Transformation Operating System

Set up a structure and operating system to orchestrate your transformation's success. Consider a Rapid Response Team (RRT) supported by a Central Team (CT) made up of senior executives. This structure ensures agility and responsiveness to emerging challenges and opportunities.

Create an AI governance office (or council) to discuss use cases, assess potential risks, and develop recovery plans. This proactive approach mitigates potential pitfalls and ensures responsible AI implementation.

4. Train and Engage AI Champions

Build and implement an AI transformation program fuelled by a network of passionate volunteers. Identify, recruit, motivate, and empower these champions. They'll become the evangelists and influencers driving the transformation forward, inspiring others to embrace the change.

Invest in upskilling and reskilling your workforce to meet the demands of the AI-driven future. This ensures your employees feel confident and equipped to navigate the changing landscape. Project Management Institute, the world’s leading authority in project management, is offering project management professionals a free course in AI to get them started on their journey with this important tool.

5. Make AI Transformation a Personal Transformation

Help employees define their aspirations and connect them to the transformation's goals. Show them how their roles will evolve and how their skills will remain relevant. This fosters a sense of ownership and engagement, ensuring everyone feels part of the journey.

Adopt a people-first philosophy, ensuring leaders champion this approach and guide everyone through the evolution. AI is a tool to empower people, not replace them.

From a project management lens - Understanding AI driven business transformationPMI infinity

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Getting Started: Five Key Actions for Leaders

The question of "if" AI will drive your transformation is no longer relevant. It's already happening, regardless of your organization's size or sector. The differentiator will be your attitude and approach.

So, where do you begin? Here are five key actions to initiate your AI journey:

  1. Cultivate Continuous Learning: This is a fast-moving field. Dedicate time to ongoing updates, stay ahead of advancements, trends, and ethical considerations. Credible certifications play an important role not only in upskilling key talent but also provide validation of the key talent’s expertise.
  2. Focus on Value Creation: Ask the right questions about your business goals, customer needs, and data availability. Remember, AI is a tool, not the purpose.
  3. Define Your Vision and Goals: To define your roadmap, set goals, and ensure alignment with your ambitions.
  4. Lead by Example: Be the champion of AI and inspire your teams with curiosity, experimentation, and a "fail-fast" mindset. Commitment sets the tone.
  5. Foster Behavioural Change: Cultivate an environment where embracing new mindsets and behaviors is encouraged. Leaders must "walk the talk" for sustainable results.

Ready to Partner with the Leading Innovator?

This doesn't have to be a solo endeavor. PMI, with a growing global community, knowledge sharing, and best-in-class certifications, can help you drive positive change in organizations and communities. There is a comprehensive suite of assets, insights, tools, and education offerings designed to empower professionals to excel:

Visit these links to learn more about how PMI can support your organization:

• PMI AI Resource Center: https://www.pmi.org/explore/ai-in-project-management- 

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