The survey consulted with over 200 Australian project managers, revealing that AI adoption in project management delivers impressive returns or an earlier return on investment (ROI). 51% of those using AI in project management indicate they utilise it for risk management, while 52% use it for task automation. Among other tasks, project managers feel that generating status reports (30%) and predictive analytics (39%) will be greatly impacted by AI in the next 12 months. These technologies will empower project managers to focus on other deliverables, including strategic decision-making and creative problem-solving, leading to more successful project outcomes.
For project managers already using AI for project management, they expect investment in this area to increase by an average of 37% by 2025. As AI continues to develop, project managers are seeing significant boosts in productivity, efficiency and project management.
ROI driving increase in investments
With AI’s ability to streamline business processes and enhance decision-making, more organisations are encouraged to embed the technology more deeply into their operations. The positive results have significantly increased the Australian market’s demand for AI, with a remarkable 88% of project managers using AI reporting a positive ROI over the past 12 months.
In addition to more convenient processes, 29% have shared that AI will have the greatest impact on planning and scheduling activities in the next 12 months. Overall, businesses that have actively integrated into their project management workflows will be better positioned to optimise resources, timelines and outcomes, ensuring a competitive advantage in the industry.
Navigating AI’s complexities
On the other hand, while the majority (86%) of project managers feel confident in their ability to lead AI implementation projects, around half are still skeptical about AI’s complexities and limitations. The black-box nature of many AI tools poses risks that should be carefully investigated. Due to the underlying technology still being in the learning phase, project managers may struggle to implement AI effectively.
To reduce these risks, businesses are encouraged to invest in training programs that enhance the project managers’ understanding of AI’s potential pitfalls, including biases and data dependencies. Once these strategies are implemented, project managers can make informed decisions to ensure that AI-driven tools are used responsibly.
Top AI use in project management
AI-driven improvements can lead to more efficient project management. The areas it is most used for include task automation (52%), predictive analytics (52%), and project risk management (51%).
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Task Automation: AI automates repetitive tasks such as project status updates, task notifications, and report generation. This allows teams to focus on high-value activities, accelerate project timelines, and improve output.
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Predictive Analytics: AI-driven predictive analytics allows project managers to allocate resources effectively, forecast potential risks, and plan projects. Foresight has been crucial for minimising disruptions and ensuring project success.
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Risk Management: Analysing historical data with AI tools can predict potential project risks and provide strategies for solutions and action plans. This will allow project managers to address issues proactively.
“Once AI is implemented and with proper training, it will pave the way for project managers to have control over their tasks and manage their time more effectively, ultimately leading to increased productivity in the workplace,” says Andrew Blair, Analyst at Capterra. “However, it is important to note that AI is still growing and may not accurately present data, so implementation must be carried out efficiently,” adds Blair.
For further information, please visit capterra.com.au.