Question
What should i write in Summary and Recommendation about the report below (The report is bolded)? strategic perspective As the world moves towards futuristic approach
What should i write in Summary and Recommendation about the report below (The report is bolded)?
strategic perspective
As the world moves towards futuristic approach to find solutions to modern problems, Artificial Intelligence plays a crucial role in this endeavour. In the context of project management, AI is already being considered to simplify aspects of a business, for example scheduling assistance for a project and optimization of resources. AI has a far more scope in project management in application wise if the right technology is developed. The current applications and the future expectations for AI's role in project management are encompassed in broader perspective. Innovation in AI will certainly revolutionize how we manage projects if we focus on developing the right methodology.
significant issues
As of now, projects generally depend on the project manager's acumen and their prior experience to predict its performance and eventually its success. Predictions based on just that entails higher risk and higher probability for failure. Project managers need several years to perfect the craft of analysing and estimating the project elements like planning, time, and budget constraints. They also need to compute and research
With the introduction of AI, this prediction can be more precise and align more with reality as it is devoid of human error. The human approximations will be replaced by predictions based on historical data, which in turn, ensures accuracy. By analysing how AI is already in use in various other platforms such as social media and entertainment services like Netflix can help us develop AI fit for project management.
analysis
This article explores the possibility of AI in project management by focusing on the 'recommendations engines' that is currently used in various platforms. This technology uses historical data of the user to predict the likes and dislikes, hence recommending appropriate content to the targeted user. This provides a personalized experience to that user, earning better engagement and traction for the platform.
Artificial intelligence (AI) is constantly working and analysing the interests exhibited by a certain user. This data is valuable to determine which ads needs to pop-up for that user. This targeted marketing technique is one the major part of social media platforms' success.
Social Media:
FAIR (Facebook's Artificial Intelligence Researchers) used by Facebook and AI used by Instagram are fairly advanced AI which recognise and categorize photos, show targeted ads based on browsing history etc. FAIR can even recognise faces in photos and suggests the user to 'tag' the person in the uploaded image. Snapchat uses computer vision to track and record user features. The user is able to add filters that are real-time and modify voices.
Popular job search engine LinkedIn uses AI to provide various services. It makes the users easier to connect with people in the similar field and career path, make recommendations for jobs based on the skills the user has and helps in having an in-depth networking which was not possible before. In hiring manager's perspective, it helps in easy filtration of candidates and connect with better qualified people to work for the posting made.
One of the quirkiest tools of AI right now is that we have an option to let it write our ads for us to use in Facebook and Instagram. Hashtag is the trending tool, which is essentially used to locate all the posts collectively in one place. Website link shortenings are used for easy sharing which enables wider audience's reach. These features are all possible because of AI.
Below are all the areas a brand can use social media sites' AI to monitor:
- Tracking mentions by users
- Connecting new potential customers
- Maintaining good Public Relations (PR)
- Promotion of the brand
- Tracking latest trends
As the trend of 'Influencer Marketing' is on the rise on these platforms, brands can find their choice of influencers to advertise and promote their market their product.
Netflix:
Netflix is one of the major users of AI, solely based on the fact that it offers various features to the users which feels more personalised. It has the knack of engaging the audience with programs that are similar to the user's historical data, ensuring more hours of viewing.
Netflix implements AI in following features:
- Personalized movie recommendation.
- Collection of user data and its analysis.
- Personalized image for the users.
- It uses video meta data.
- Creating relevant thumbnail images.
- Creating short video forms of long movie. (Like teaser or trailer)
- For delivering content.
When a consumer visits Netflix's home page or uses its mobile app, the AI suggests material that they are most likely to view. As a result, rather than the user looking for content, the recommendation engine offers the user content that is relevant to them.
As a result, the customer returns to Netflix to discover and watch new and intriguing material. Netflix saves over $1 billion each year by employing AI to reduce user churn.
Hence, Netflix is an example of how AI can benefit a business in boosting the revenue.
Amazon:
Amazon uses AI to enhance its customer experience and solve customer queries. One of the most important areas where Amazon is using continuous AI is to better understand consumer search queries and why they are looking for a specific product. It is vital for an e-commerce company to not only know what its customers searched for, but also to understand why they are searching for a product in order to provide appropriate recommendations to them. Understanding the context can assist the retailer in recommending complementary items to its customers, and Amazon is determined to solve the riddle by employing artificial intelligence.
The following are the key features of Amazon AI:
- Product recommendation team uses AI algorithm to suggest products to the customers. With the help of AI it improves the product forecast and this information is save all over the system.
- One of Amazon's more popular excursions into machine learning has been the Echo, which includes the AI assistant Alexa. Amazon was one of the first businesses to try its hand at inventing a voice-powered virtual assistant that could fit on a countertop, so it had an uphill battle at first.
- The cashier-less situation The Amazon Go store also used a trove of data to track client shopping habits. Data from consumers' smartphone cameras is used to track shopping activities and can be shared with Amazon Go's machine learning team for further development.
recommendations
conclusion
As the article states, AI can be developed based on the requirements that are needed by the industry. There are limitless possibilities to apply AI to projects and how they can be planned, developed, and implemented. Instead of limiting AI to menial tasks, it needs to be developed in a broader spectrum so that project predictions are based on actual historical data, rather than just the project manager's guess work. The new technology should help a project manager to develop smart businesses with higher accuracy of completion. The success of the existing AI in recommendation engines of social media provides a hope for such technology being implemented in IT projects as well.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started