AI, a strategic ally in Project Management

Montevideo, December 18, 2024.

Artificial Intelligence is transforming project management, becoming a key ally to meet the growing needs of organizations.

In a world where projects are becoming increasingly complex and dynamic, Artificial Intelligence is emerging as an essential tool to optimize processes, improve decision-making, and maximize efficiency in project management.

Artificial Intelligence is transforming project management, becoming a key ally to meet the growing needs of organizations. For this reason, tools based on this technology have been incorporated, capable of forecasting project success and, based on that, identifying critical factors supported by data.

Benefits of Artificial Intelligence in Project Management

• Automation of repetitive tasks: AI allows scheduling meetings, tracking tasks, and generating reports automatically, saving time and improving productivity.
• Processing large volumes of data: AI analyzes trends, identifies patterns, and provides detailed information about project progress and performance quickly and accurately.
• Data-driven predictions and forecasts: Based on historical data and current trends, AI can anticipate delays in material delivery, identify potential bottlenecks, and suggest timely solutions.
• Optimization of resource allocation: AI helps identify areas where costs can be reduced or resources strategically reassigned to increase efficiency and project performance.
• Scenario analysis and risk assessment: AI evaluates complex situations, identifies potential risks, and offers recommendations to mitigate them, facilitating the development of effective contingency plans.

Applications of Artificial Intelligence in Project Management

Currently, there are AI-based tools that allow project professionals to use this technology responsibly, facilitating interaction with machine learning models. Below are two prominent examples:

• PMI Infinity is a tool developed by the Project Management Institute, designed with Artificial Intelligence technology to deepen the user experience, address complex issues, and optimize project execution, thus maximizing success. This solution, exclusive to PMI members, is based on AI Co-Pilot and GPT-4o (Omni), offering top-level AI performance.
• Prompt Engineering refers to the techniques and methods used to optimize the formulation of prompts in Natural Language Processing (NLP) and language models (LLM) such as GPT-3 or GPT-4, based on Machine Learning. This discipline obtains higher quality, more precise, or more specific responses.

According to the Sofis Solutions Project Management Office team, composed of Marisa Cancela, Cecilia Martínez, and Gilberto Mendoza, Project and Services Coordinators, the company is currently applying Artificial Intelligence in the management of the projects it works on. This technology allows efficient searches for lessons learned, manuals, processes, and other key resources.

In the medium term, it is planned to develop an AI tool trained with the company’s defined work methodology. The objective of this tool will be to support activity estimation and the identification of new specific risks for each project.