Skip to content
Business Company News, Information Technology

Companies using AI in project management report a positive ROI and plan to increase spend

GetApp Australia 3 mins read
Integrating AI tech in project management processes could be the beginning of a tactical shift to transform the industry.

AUSTRALIA - 12th March 2024

A recent survey by software recommendation site GetApp reveals that 98% of employees in Australia who use artificial intelligence (AI) software in project management estimate that their company will increase their investment in the next two years. 

Reinforcing the benefits of AI technology, a third (33%) of employees expressed an 11-30% increase in spending. Remarkably, 76% of these respondents also said there has been a positive return on investment (ROI) since their company started using AI tech in project management processes. 

Out of over 500 survey respondents, nearly a third (29%) of employees said their companies currently use AI software in project management processes, compared to those that are either in the process of incorporating AI (23%) or are interested in doing so (21%). Significantly, the majority (a combined total of 89%) who already use it said they are happy with doing so, with 58% having more time to focus on higher-value tasks and 49% saying they can interpret data quicker and more efficiently. 

The survey shows that companies or employees considering implementing AI technology can see its benefits. Of those interested in using it, 34% expect to interpret data faster and more effectively, and 26% expect to have more time to focus on higher-value tasks due to using it.

Interestingly, 58% of employees named task management software the most used for project management. As a result of AI tech’s capability to automate tasks, nearly half (49%) of employees who use AI software for project management, task automation is the most applicable area for its use. 27% of employees said their company has benefitted from automating repetitive and tedious tasks, freeing time for more complex tasks.

Nearly a third (31%) of employees said they have yet to integrate AI tech into project management processes because there is a need for a clear strategy. However, 22% of these respondents would prefer to adopt more established AI technology before ensuring they have a clear plan (21%). Similarly, 26% of those interested in implementing it cited the immaturity of AI as a challenge for adopting it.

Content Analyst for GetApp, Andrew Blair, said: Pioneering companies that are currently incorporating AI software into their project management processes are reaping the rewards despite concerns about the maturity of the technology. In particular, companies that have adopted AI software in the past two years are already citing a positive return on investment, and the benefits of the technology may already be giving these companies an edge over their competitors.

“A well-rounded, thought-out strategy is essential for companies to embark on the journey to incorporate AI tech in project management,” Blair continued.

For further information, please visit https://www.getapp.com.au/blog/4552/ai-in-project-management-yields-positive-roi.

Survey Methodology 

To collect this data, GetApp interviewed 545 employees at companies in Australia in September 2023. The respondents for this survey had to fulfil the following criteria:

  • Be an Australian resident; 

  • Be between the ages of 18 and 65 years old;

  • Work full-time or part-time;

  • The company they work for uses project management software and has more than one employee;

  • They use a computer to perform daily tasks at work, at least sometimes;

  • Be either moderately or very involved in project management processes within the company.


Key Facts:
About us:

About GetApp 

GetApp is the recommendation engine small businesses need to make the right software choice. GetApp enables SMEs to achieve their mission by delivering the tailored, data-driven recommendations and insights needed to make informed software purchasing decisions. For more information, visit www.getapp.com.au.


Contact details:

Garry Steel

garry.steel@gartner.com

Media

More from this category

  • Business Company News, Property Real Estate
  • 20/04/2024
  • 00:05
Highland

Legacy of Family Values Continues with Highland Expansion

Highland Property Group has today announced the expansion of the Highland brand into the Inner West with the merger with the Kallin family. The formation of Highland Inner West bridges the gap between the Eastern Suburbs and Highland Double Bay to the Sutherland Shire where Highland CEO and founder, David Highland first established the Highland brand, ensuring one holistic real estate offering throughout the greater Sydney area. A strong history between David Highland and Angela Kallin and her two daughters Jenna and Kristen, is the underpinning to this newest real estate merger, bringing the Highland/Kallin relationship full circle. From Mr…

  • Information Technology
  • 18/04/2024
  • 19:07
Egress Software Technologies Ltd

New Egress Report Reveals Millennials are the Key Target, as AI, Quishing, and Multi-channel Attacks Top Phishing Trends

Brisbane, Australia.– April 18th, 2024 – Leading cybersecurity company Egress has today launched its third Phishing Threat Trends Report 2024 (April 2024), detailing key trends, new data, and threat intelligence insights surrounding phishing attacks. The report explores evolving payloads, AI’s rise in cybercrime, the success of multi-channel attacks, and how secure email gateways (SEGs) are trailing behind in an advancing threat landscape. Key stats from the Phishing Threat Trends Report (April 2024): Quishing has risen from 0.8% in 2021 to 10.8% in 2024, whereas attachment-based payloads halved from 72.7% to 35.7% in the same timeframe. 77% of impersonation attacks imitated well-known brands. DocuSign…

  • Agriculture Farming Rural, Information Technology
  • 18/04/2024
  • 15:39
TP-Link Australia / New Zealand

Introducing TP-Link’s Omada EAP215 Bridge KIT with an Impressive 5km Range!

Sydney, AUSTRALIA, 18 April 2024 – Network innovator TP-Link continues to deliverpractical solutions designed to revolutionalise wireless connectivity with the announcement of a new…

  • Contains:

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.