CORRECTING and REPLACING Study from Project Management Institute Identifies Six AI Technologies Impacting Project Professionals

PHILADELPHIA–(BUSINESS WIRE)–Last sentence before the boilerplates of release dated June 17, 2019,
should read: Read more about 2019 Pulse of the Profession® In-Depth
Report: AI
Innovators: Cracking the Code on Project Performance
. (instead of
Read more about 2019 Pulse of the Profession® In-Depth Report: AI
Innovators: Cracking the Code on Project Performance at www.PMI.org/Pulse).

The corrected release reads:

STUDY FROM PROJECT MANAGEMENT INSTITUTE IDENTIFIES SIX AI TECHNOLOGIES
IMPACTING PROJECT PROFESSIONALS

Project Management Institute (PMI) today released its 2019 Pulse of
the Profession® In-Depth Report: AI Innovators: Cracking the Code on
Project Performance
. The report provides an in-depth look at how
artificial intelligence (AI) is impacting organizations and the project
management profession. Findings reveal that AI disruption is happening
and at a large scale: 81 percent of respondents report their
organization is being impacted by AI technologies; 37 percent say
adopting AI technologies is a high priority for their organization; and
project professionals say they expect the proportion of the projects
they manage using AI will jump from 23 to 37 percent over the next three
years.

These insights from a survey of 551 project management practitioners
globally show that the presence of AI technologies will continue to
grow, requiring shifts in how projects are managed and how organizations
implement strategy. The report identifies six AI technologies that are
impacting organizations globally. The three AI technologies currently
impacting the greatest number of organizations are:

  • Knowledge-based systems: Understands the context of the data
    being processed, helping support human learning and decision making.
  • Machine learning: Analyzes data to build models by detecting
    patterns, yielding improved decision making with minimal human
    intervention.
  • Decision management: Creates an intelligent process or set of
    processes based on rules and logic to automate decision making.

Over the next three years, project professionals expect the impact of
these AI technologies to grow:

  • Expert systems: Emulates and mimics human intelligence, skills
    or behavior in a particular field, topic or skill.
  • Deep learning: Builds, trains and tests neural networks that
    predict outcomes and/or classify unstructured data based on
    probabilities.
  • Robotic process automation: Mimics and automates human tasks to
    support corporate processes.

In a recent Pulse of the Profession® report, PMI called for
organizations to bolster their Project
Management Technology Quotient (PMTQ)
, which is a way of evaluating
an organization’s ability to manage and integrate technology based on
the needs of the organization or the project at hand. As organizations
increasingly adopt AI technologies, having a strong PMTQ will be
essential.

What this report shows is that the time is now to start thinking about
how organizations can leverage AI technologies to achieve project
success,” said Michael DePrisco, vice president of global solutions at
PMI. “Since project professionals are largely responsible for helping to
implement change, they will play a critical role in influencing the
adoption of these technologies in their organizations. Based on PMI
research, we know that organizations with a high Project
Management Technology Quotient (PMTQ)
understand that capturing the
value of AI will take more than simply rolling out the technology. It
will require a new mindset, a learning culture and support from the top
to establish an organizational infrastructure that leads to success.”

In fact, research by Accenture finds that most visionary organizations
apply five key principles to their AI investments. Called the MELDS
principles, they call on organizations to:

  • Encourage the right Mindset
  • Promote Experimentation
  • Support actively involved Leadership
  • Incorporate Data into strategy
  • Cultivate new Skills

Organizations who embrace these five principles are called AI Innovators
and are more likely than organizations that don’t embrace any of the
principles (AI Laggards) to establish an organizational infrastructure
that leads to project success. According to Pulse® data, there is
a distinct payoff for organizations leading the way with AI. AI
Innovators outperform AI Laggards on several key project metrics:

  • Better on-time delivery: AI Innovators report they delivered 61
    percent of their projects on time, versus 47 percent for AI Laggards.
  • Superior benefits realization: AI Innovators report 69 percent
    of their projects realized 95 percent or more of their business
    benefits, compared to 53 percent of projects for AI Laggards.
  • Higher ROI: AI Innovators report 64 percent of their projects
    met or exceeded their original ROI estimates, versus 52 percent of
    projects for AI Laggards.

Successful implementation of AI technology requires organizations to
shift their priorities. Not only is it important to look at PMTQ as a
measure of preparedness, but also how well an organization adheres to
the MELDS principles. This will be especially important as more and more
AI technologies are integrated into operations in the coming years.

Read more about 2019 Pulse of the Profession® In-Depth Report: AI
Innovators: Cracking the Code on Project Performance
.

About the PMI Pulse of the Profession® Survey

This Pulse of the Profession® In-Depth research was conducted online in
April/May 2019 among 551 project management practitioners globally.

About Project Management Institute (PMI)

Project Management Institute (PMI) is the world’s leading association
for those who consider project, program or portfolio management their
profession. Founded in 1969, PMI delivers value for more than three
million professionals working in nearly every country in the world
through global advocacy, collaboration, education and research. We
advance careers, improve organizational success and further mature the
project management profession through globally-recognized standards,
certifications, communities, resources, tools, academic research,
publications, professional development courses and networking
opportunities. As part of the PMI family, ProjectManagement.com creates
online global communities that deliver more resources, better tools,
larger networks and broader perspectives.

Visit us at www.PMI.org,
www.projectmanagement.com,
www.facebook.com/PMInstitute
and on Twitter @PMInstitute.

Contacts

Mary Ortega
Public Relations Specialist
Project Management
Institute
14 Campus Blvd.
Newtown Square, PA 19073
Phone:
+1 610 356 4600 X7030
E-mail: [email protected]
Website:
www.pmi.org

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