With artificial intelligence being one of the biggest tech trends in the last few years, everyone wants to join in the fun. And one of the major applications that companies have explored the technology for is product management. Discover how you can effectively do AI product management with Virtua Solutions.
Understanding AI Product Management
AI product management is a new specialization that has emerged in recent years as technology began penetrating the business scene. In its simplest definition, AI product management is using technology during the product life cycle. That starts from the initial conception stages and goes all the way to customer support for these products.
The biggest draw of introducing AI into the product life cycle is that it enhances the latter significantly. For instance, AI can generate different iterations of the product at a much faster rate. Such tools can also help you streamline the product development and management process by handling repetitive tasks.
The Challenges Of AI Product Management
However, being a relatively new approach, incorporating AI into the product cycle has a lot of challenges to face. These can affect not just the integration but also the further development of the strategy within your business.
Data Privacy And Ethical Concerns
Artificial intelligence often requires a continuous stream of data to improve its results. However, companies must always consider how these are gathered. That is especially the case when it comes to personal data. Companies need to respect the rights of these individuals to their data and ensure that they follow ethical standards when using it.
Fairness And Data Bias
Another concern that companies need to address when incorporating AI into the product development cycle is bias. Such biases can come from a variety of sources. And if left unchecked, these can lead to products that do not fully cater to their intended audience. Companies need to have an effective strategy for identifying and eliminating such biases as early as possible.
Integration With Current Systems
For artificial intelligence to effectively become part of the production process, it needs to integrate well with existing systems. That will often require a thorough study of your production capability to see how compatible it is. From there, you might need to change certain parts for better accommodation. That will require a lot of work and should be well coordinated.
Continuous Learning And Improvement
Companies need to guide artificial intelligence tools to learn from new data and models. That will help the tool deal with emerging scenarios and develop appropriate products. However, that training will need to be set up and managed properly to succeed.
The Role Of AI Product Managers
With all of that, you might wonder where the AI product manager fits into everything. As their name says, they are the ones that oversee the process. They also fulfill the following specific roles.
Problem Mapping
Image from Mindomo.
The AI product manager is the one who identifies the problems that might occur when using AI for the product cycle. Here, you must remain customer-centric in assessing these problems. That will let you better picture AI’s role in the product’s context.
Ensuring Data Literacy
As we have already mentioned, proper handling of data is essential in using AI technology. For this, the product manager needs to ensure that everyone involved in the product development and distribution process is knowledgeable about proper and ethical data use. They also need to know the right questions to ask to understand the issues better.
Providing Additional Input
While the main product team does the bulk of the development work, the AI product manager can also provide additional input to refine the work. For this, the manager needs to collaborate closely with experts to determine the best use of AI for various scenarios.
Evangelism
Image from Delmethod.
As the ones being at the forefront of the AI adoption effort, product managers must push for acceptance by the stakeholders. That includes convincing them of both the short and long-term benefits of AI for the business. They also need to create a roadmap for future utilization in line with your company’s vision.
Getting The Right AI Product Management Solution
Since AI product management is a relatively new line of work, it can be hard to get the right talent. Companies are in a rush to hire the best ones from the crop. As such, you will need to find another solution for getting that talent.
Virtua Solutions gives you that through our outsourcing services. As we have continuously sought to expand our roster of agents, we have also explored emerging fields like AI project management. Using what we have learned, we have attracted some of the best talents in the field.
Since this is an outsourced service, you don’t have to worry about going through an extensive hiring process. Instead, we will assign the best-suited manager for your project. That means they can quickly oversee the project.
In some cases, you might need a more specialized product manager, such as one with in-depth knowledge of a specific AI model. We can help you search for that candidate. Our team will create a custom hiring process to hone quickly on the right talent.
Providing Full On Product Management Support
Of course, the project manager alone is not enough for you to fully use artificial intelligence in the product cycle. For that, we offer an array of support services. To start, we can provide data gatherers for the initial product development and AI training stage. We can even assign a customer service team trained to work with your AI tool.
Virtua Solutions’ services are fully customizable. We take into account the scope of the product development, as well as the specific AI tool you are employing. From there, we assemble a team that would best meet your needs.
Harness The Power Of AI For Better Products
Artificial intelligence can definitely do a lot of wonders for your company’s products. To get more out of them, you should have the right AI project management team on board. Virtua Solutions is always ready to help you in your effort. Contact us today and discover more.