Almost all firms using AI for project management plan to hike investment: survey

Nearly all employees using artificial intelligence software in project management believe that their company will further invest in the technology amid benefits from its implementation.

A survey by GetApp among 500 employees found that 29% belong to companies using AI software in project management processes.

Another 23% said their companies are in the process of incorporating AI, while 21% said their organisations are interested in doing so.

Among users of AI, the report found that 98% of them believe their company will further invest in the technology in the next two years, including 33% who said there will be an 11 to 30% increase in spending.

Benefits of AI

The findings come as more than three-quarters (76%) of AI users in project management processes said their organisations have seen a positive return on investment. For employees, 89% said they are happy in using the tech, citing benefits such as:

• Having more time to focus on higher-value tasks (59%)
• Interpreting data quicker and more efficiently (49%)

Nearly half (49%) of respondents who use AI for project management said the technology is most applicable for task automation.

In fact, 27% of employees said their organisation has benefitted from automating repetitive and tedious tasks, giving them free time for more complex activities.

"Pioneering companies that are currently incorporating AI software into their project management processes are reaping the rewards despite concerns about the maturity of the technology," said Andrew Blair, content analyst for GetApp, in a media release published on Mirage News.

"In particular, companies that have adopted AI software in the past two years are already citing a positive return on investment, and the benefits of the technology may already be giving these companies an edge over their competitors."

Hesitation about using AI

Meanwhile, the report found that among those who have yet to integrate AI into project management processes, 31% are hesitant due to a need for a clear strategy.

Another 26% of those interested in implementing it added that the immaturity of AI is a challenge for its adoption.

"A well-rounded, thought-out strategy is essential for companies to embark on the journey to incorporate AI tech in project management," Blair said.