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Putting People First Can Maximize AI Impact, Says PMI Report
With a growing increase in the adoption of Artificial Intelligence (AI) by companies, new studies suggest that this technology could be responsible for adding between US$2.6 trillion and US$4.4 trillion to global GDP annually. Moreover, 78% of companies are already incorporating third-party tools to enhance their operations. However, the latest report from the Project Management Institute, “Leading AI-Driven Business Transformation: Are You In?”, suggests that the true hallmark of transformation lies not only in technological tools but in a human-centered approach.
“While we are navigating an increasingly digitized world, AI is not just about algorithms and codes. It’s about people. Companies need to promote a philosophy of putting people first, and leaders need to demonstrate and ensure that this philosophy is clear to everyone,” said Ricardo Triana, Managing Director of the Project Management Institute (PMI) Latin America.
Potential Value of AI in Key Sectors Across Project Economy
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According to data from McKinsey, about 75% of the value that AI could deliver is concentrated in key areas such as customer operations, marketing and sales, software engineering, and research and development (R&D). This data is also corroborated by research conducted by PwC, which indicates that the incorporation of artificial intelligence in the business world could have a revolutionary impact akin to the rise of the internet and the arrival of personal computers, and predicts a “mass personalization era,” with up to 45% of economic advances by 2030 potentially derived from innovations and enhancements in products and services, expanding the diversity of personalized offerings.
With the collection and analysis of large volumes of data from the use of artificial intelligence, companies can better understand the individual needs of customers and offer personalized products and services at scale.
In the evolving project economy scenario, where organizations add value to stakeholders through the successful completion of projects, the integration of AI is driving a transformative movement with the potential to add US$15.7 trillion to the global economy. Of this value, it is estimated that US$6.6 trillion will result from increased productivity as companies automate processes and enhance their workforce with AI technologies.
This economic uplift, catalyzed by AI and driven by effective project management, not only broadens the spectrum of products and services but also establishes new market reference standards, providing personalized experiences to consumers and reflecting the dynamic capabilities of the project economy.
“We are witnessing a revolution in how companies operate and interact with their customers. AI is at the heart of this transformation, offering unprecedented opportunities to create value and meet consumer needs in innovative ways,” emphasizes Ricardo.
Data also shows a growing trend in AI adoption. In 2022, 35% of companies were already using AI in their operations. This number increased to 46% in 2023, according to research by Forbes, highlighting the use of AI to improve internal communications.
The Need for Governance in the Era of Artificial Intelligence
Moreover, effective management and governance of data become essential in the adoption of AI. The growing recognition of the potential of AI applications by companies is corroborated by recent research from IBM and Forbes, indicating an expansion in the use of this technology in business operations and communications. In this context of increasing relevance of artificial intelligence in the business world, ethical and responsible management of the data that supports it becomes more crucial than ever.
“PMI is committed to equipping leaders with the essential support they need to drive AI-driven transformations in their organizations. With the support of a global community of experts, PMI has cultivated and continues to be committed to expanding a comprehensive portfolio of assets, insights, tools, and educational resources. They are designed to empower individuals and organizations to navigate the complexities of AI-driven change skillfully,” concluded Ricardo.
About Project Management Institute (PMI)
PMI is the leading authority in project management, committed to advancing the project management profession and positively impacting project success. We empower professionals to excel in project management practices through our growing global community, knowledge sharing, and best certifications — leading to positive change in organizations and communities. Since 1969, our unwavering mission has been to advocate for the profession by providing learning and connections to enhance sought-after skills. Today, PMI provides professionals at all career stages with globally recognized standards, online courses, thought leadership, events, and tools needed to succeed. With over 300 chapters worldwide, PMI members can network, find mentors, seize career opportunities, and learn from peers, working together to generate greater impact. Visit us at: www.PMI.org, linkedin.com/company/projectmanagementinstitute, facebook.com/PMInstitute, or X @PMInstitute.
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