4 simple ways AI helps you win in product management
October 29, 2018
Could it be that AI improves product management? After 20 years as a product manager, the idea intrigued me. And so did the facts.
Most product executives face challenges with how to help their company deliver future product growth in changing markets. Launching great new products is one thing. Executing your product strategy post-launch is a whole other story.
So here are some insights on my journey to develop a simple artificial intelligence solution to improve product management.. Along the way, I’m grateful for the ideas from many people – from data scientists, academics, small businesses and many product and marketing managers.
What is a simple definition of Artificial intelligence related to product management?
AI helps when:
· you have a lot of data and a problem to solve (the case for product portfolios in any sector)
· you need to reflect on the past to make enhanced future decisions (yes for product management in forecasting, growth and investment decisions)
· you need to continually revise your model to create efficiencies (product and marketing executives face this with reg tech changes and competitive markets)
· navigate complex ambiguity (product and marketing executives use data and often draw on intuition to look at the soft signals & external forces around a product)
So how can artificial intelligence help you make more confident product management decisions and create product strategy to grow your company?
With AI you can:
1. Create an organisation-wide product register to give you a clear view of opportunities, risks and reg tech impacts
2. Deliver continuous improvements to launched products by operating a programme of quarterly & annual product planning audits.
3. Improve product governance & collaboration across portfolios by having a consistent view of performance across your portfolio
4. Deliver a product health-check index so you can quickly see strengths and risks across all your products and the best part is you can confidently know when you need to make improvement decisions.
So what are the takeaways?
The new breed of the product manager is a thought leader of future product growth, confident about product risks and opportunities. Artificial intelligence has much to offer product executives so as VP Product & Marketing you can be the product champion and segment expert for your business.
Skyjed can help your company deliver future product growth in changing markets. To find out more about our AI solution for product management connect with us at www.skyjed.com