Artificial Intelligence in Product Management: Driving Innovation and Market Success

Abstract

The use of Artificial Intelligence (AI) in product management is changing very fast, as it allows making decisions based on data, optimizing processes, and introducing novel solutions. This review examines how AI can be used throughout the product lifecycle including market research, product strategy, development and project management. Using AI, predictive analytics, customer insights, allocation of resources, and risk assessment are increased, making AI more efficient, personalized, and time-to-market. Although it has considerable benefits, the issues that may arise when adopting AI include problems with data quality, ethical aspects, and complexities with integrations, as well as adapting the workforce. The review shows industry case studies and trends, with an accent on the possibility of strategic, responsible AI implementation to drive innovation, improve performance of the products and provide market success with the time of growing competition of the business world.