Home Articles How Does AI Tools benefit Product Owners?

How Does AI Tools benefit Product Owners?

AI-integrated tools are rapidly evolving, so being open to experimentation and adapting how we use them will be a critical part of our journey with new technology.

As a product owner, balancing the needs of team, stakeholders, and marketplace are big components of what you do. As Enterprises continue to adopt AI tools and platforms, we should discover how responsible, informed use of these tools can improve our experience at work and our ability to deliver results. 

Let’s explore how AI tools can enhance our work as a product owner in four key areas: 

1. Market research and trend analysis

Understanding market trends is part of the job of a product owner, but it has the potential to get neglected when we’re busy working on delivery. However, AI-powered tools can quickly and easily provide us with that critical information.

AI can analyze vast amounts of data from various sources to identify market trends, customer preferences, and competitor activities. The tools can also help us quickly see trends with customer reviews and feedback, and social media comments to understand user opinions about our product and its competitors. You can refer to some AI tools that can speed up market research such as

HubSpot can assist in analyzing customer behavior and customer journey mapping;

Tableau is a data visualization tool that presents market analysis findings; and

Microsoft Azure Machine Learning can assist in analyzing market data to gain insights into customer behavior.

When choosing an AI tool for market analysis, we should consider what type of market information we need for the product and if any existing software tools will meet our needs by simply adding an AI component.

2. Personalization

Personalizing product to fit customers’ needs will help to determine which features should resonate with users. Prioritizing work gets easier because stakeholders can review data that shows which enhancements or new products are likely to sell.

As a product owner, you may want the products or features your team is building to resonate with customers. Today’s global marketplace is over-saturated with product options, so product personalization is critical to its success. Here are some AI tools that help to streamline personalization:

Adobe Target which is an AI-driven personalization tool for web and mobile experiences;

Google Cloud AI Recommendations is an AI tool offers personalized content recommendations based on user behavior and preferences with Google Cloud’s machine learning capabilities integrated;

Evergage offers real-time personalization, it uses machine learning to analyze user behavior and deliver personalized experiences.

3. Data-driven decision-making

Having data at your fingertips helps making decisions along with stakeholders, team, and other departments. Data provides objective standards for discussing the pros and cons of any decision instead of relying those choices on subjective feelings or guesses. 

Power BI is a business analytics tool that allows product owners to visualize and share insights from their data;

Google Analytics is a widely used web analytics service that provides insights into website traffic and user behavior, it uses machine learning to power features like Smart Goals and Smart Lists, which help users identify valuable website interactions and target high-value users. However, specific AI features and capabilities may vary, but our goal is to empower product owners to make more informed and data-driven decisions.

4. Workflow automation

Managing backlog and sprint is one of the job of a Product Owner. However, these tools have come a long way recently and are now utilizing AI to automate mundane tasks. 

Asana utilizes AI for task prioritization, automated scheduling, and predictive analysis. It can suggest due dates and task dependencies based on historical data and user behavior.

Jira integrates with various AI-driven plugins and add-ons. These can provide features such as predictive analytics, intelligent reporting, and automated task assignments based on historical data and patterns.

There are many options for product owners to utilize AI tools in the new world of work. AI presents the possibility of taking away the busy work that can delay you from focusing on the truly innovative aspects of your job, allowing you to be more strategic, customer-centric, and data-driven in your approach to product ownership.

Isabel Leung and Howie Sung are the co-founders of The Agile Eagle, the premiere Scrum, and Agile training and coaching organization.

Join Isabel and Howie in a Professional training course: https://theagileeagle.com/category/professional-training.

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