PwC Report: Artificial Intelligence will change business
Monday, 07 15 2019, Category: Technology, Country: World
As technology evolves at an ever-increasing pace, decision makers are coming to terms with the need to embrace change and transform the way they conduct business. In fact, 85% of the CEOs we interviewed in our most recent Global Annual CEO Survey agreed that AI would significantly change the way they did business in the next five years. In the Middle East, this number was even higher at 91% while, 78% of these Middle Eastern CEOs see AI as having a greater impact than the internet. Further PwC research estimates that AI will contribute US$320 billion to the Middle East economy by 2030 - the equivalent of 11% of GDP.
PwC has identified five areas where AI will transform project management for ever reducing cost, improving efficiency and providing decision making support. This includes Active Assistance where AI will interact with project managers to update, follow-up and control projects status. Human capital is another area where learning will be based on past experiences and behaviours. Additionally AI and RPAs will perform actions on behalf of project managers. Another aspect that AI will transform project management is in the area of Risk Management. AI will be able to predict more accurately imminent risks and also suggest remedies. Finally, AI will be able to advise project managers on different business needs such as portfolio optimisation, remove unnecessary tasks in project schedules and contact experts to get their advice on project matters.
In the report PwC also highlights the key considerations to make before implementing AI-enabled project management software and the important next steps that organisations can take today to prepare for a future where AI and humans will work together.
Source: Al Bawaba