Product managers have always been creative builders. But the questions of how and for whom they build have evolved over time. More and more, PMs have become pivotal players in driving not only a better user experience, but also overarching business goals. And as their importance to the business has grown, so has the buzz around new products that hit their social feeds and inboxes every week. With each one promising to be the next big thing that will forever change their space, it’s easy for PMs roll their eyes about how much technology will actually impact their work.
And yet when AI hit the business scene big earlier this year, however, something felt different. The launch of ChatGPT and other similar platforms has businesses excited in a way previous buzzy products never did, and there’s a good reason why. According to a recent McKinsey report, generative AI can create value across a wide array of business use cases. They estimate that GenAI will add between $2.6 and $4.4 trillion per year to the global economy. Every business function will feel the impact in unique ways. That includes product managers, for whom this transformative tech will be particularly empowering.
A role reimagined
With businesses only beginning to implement these new AI tools, product teams are now wondering how their lives and work will evolve in the age of artificial intelligence. But as Pendo and Mind the product show in a new report The playbook for AI-enhanced product management, no part of the product management voyage will be left untouched. Throughout each stage of product development, PMs will be able to embrace AI as a partner and deliver like never before.
What will this transformation look like? In short, it will affect every stage of the product-management lifecycle, a framework for conceptualizing, building, launching, and iterating on software products in order to achieve a desired strategic or business outcome. While the specifics of the AI tools in question continue to evolve by the day, we’re beginning to understand the general impact they’ll have on the increasingly business-critical work PMs do.
Transforming PM work at every stage
Here are the top ways product managers will be able to leverage AI in the course of their work:
- Get product discovery insights faster: With AI, PMs can analyze, sort, and spot trends in data to quickly arrive at customer insights that empower you to build with confidence.
- Make better product decisions: AI assist will let PMs quickly glean insights from large batches of validation data from multiple sources and test prototypes with unprecedented speed to arrive at the best path forward.
- Build the right thing, faster: With AI, PMs can test and QA new products and features quickly, thereby executing on and releasing them at an unprecedented pace.
- Personalize from day one: Automate the creation of customized support and product content delivered to customers at the right time, from launch day onwards.
- Fuel continued success: Drive better retention, engagement, and conversions by leveraging auto-determined notifications and recommendations tied to what is and is not working and what needs iteration.
To see how AI will transform every stage of a product manager’s work, check out the full guide here.