Artificial Intelligence is being adopted by many industries these days to increase productivity and efficiency. Product Managers are also identifying ways in which AI can be used to make things work faster and provide deliverables of better quality. AI tools can help product managers in many areas such as streamlining processes, get insights about user pain points, automate manual tasks and much more. Lets take a closer look, how can a product manager take advantage of AI tools and complete product management tasks effectively, efficiently and creatively.
How AI tools can help product managers?
Product managers juggle with multiple tasks at the same time and need to utilize different skills to make the right decisions for the product. By using AI tools, product managers can do various product management activities quickly and efficiently. Let us look at some of the product management activities that can be assisted using AI tools.
- Automate routine tasks: By using AI, you can automate manual tasks such as capturing notes from meetings and spend more time on focusing other priority tasks like product strategy, product roadmapping, prioritization etc.
- Create PRDs, user guides: Product Requirement Documents is one of the documents that is used to capture requirements of a product. Using AI tools, the PRD can be created quickly and then modified to create a comprehensive PRD which acts as a source of truth for the whole team. Without AI, it can take some time to create PRDs manually.
- Brainstorm new ideas: Product managers receive a lot of different ideas from various teams, they are the gatekeepers to brainstorm more about these ideas to identify what to build next. AI can help to expand further on the existing ideas or enhance existing features. Sometimes, AI can provide creative ideas which you might not have thought of otherwise.
- Analyze data: Product managers need to analyze data using analytics platforms to understand patterns in user behaviour and identify opportunities for further improvements. Creating reports using extensive data involves writing complex queries on some of these tools. However, using AI tools product managers can create reports quickly and analyze the customer feedback, customer journey. Analyzing such data quickly can help product managers understand insights which then acts as a stepping stone for taking product decisions.
- Automate regression testing: Regression testing can be time taking as well but an important activity done by QA teams. Automating this testing will enable QA teams to spend time on other key activities to speed up the development process assisting product managers.
- Analyze market conditions: Product managers need to analyze market and keep up with trends in the market related to the product. AI can be very helpful in doing market research and analyze the market trends.
Let us deep dive into the top 5 AI tools that we can use in product management activities.
1. ChatGPT for Ideation, research and communication
ChatGPT, developed by OpenAI, is a powerful language model that assists in a variety of tasks, from brainstorming ideas for new features, conducting user research and roadmaps. We can also use ChatGPT to creatively draft emails. There are GPT plugins available specifically designed for assisting in product management activities. For product managers, ChatGPT can be an invaluable tool for fostering creativity and sorting ideas along with user research analysis.
How to use it?
- ChatGPT can be helpful in brainstorming ideas for new features, feature improvements, product names etc.
- Create Product roadmaps, PRDs and user stories, user personas quickly with help of ChatGPT.
- ChatGPT can also help in analyzing large datasets with customer reviews, customer journey etc. to analyze the trends and further opportunities to improve the product.
- You can use ChatGPT to quickly respond to customer inquiries, saving time and ensuring consistent communication.
Benefits:
- Time Savings: Automate repetitive tasks and save time in creating documentation & emails.
- Enhanced Creativity: AI can provide fresh ideas that you might not have thought about.
- Consistency: Helps in maintaining consistent and high-quality communication across channels.
2. MixPanel for advanced product analytics
Mixpanel is a powerful analytics platform to understand user behavior, measure product performance. Some of the key features are cohort analysis, funnel analysis, and A/B testing, all powered by AI. Mixpanel launched Spark in 2023 using generative AI with the help of which you can ask any question about product data in simple plain language and Spark will provide reports responding to the query. These are editable reports and you can also view queries used to create it providing full transparency.
How to use it?
Apart from product analytics, using generative AI mixpanel enables product managers to create reports quickly using simple plain language. Most of the product managers are not aware of using the functionality to create reports using queries. This enables any product manager to create reports without having experience of using analytics tools.
Benefits:
- Generate data reports quickly without using complicated queries. Modify these reports using simple language commands.
- Helps in taking product decisions quickly based on the data and insights retrieved.
3. TLDV for Meeting Transcriptions and Insights
TLDV (Too Long; Didn’t View) is an AI tool that transcribes and analyzes meeting recordings, providing summaries and key insights. This tool is essential for product managers who need to stay on top of numerous meetings and ensure that important points are captured accurately. With help of this tool, product managers can save a lot of time as it brings the key information from the meetings without having to go back and listen to the meetings again.
How to use it?
A product manager can use TLDV to transcribe and summarize all product-related meetings. This ensures that they have a clear record of discussions, decisions, and action items, which can be easily referenced and shared with the team.
Benefits:
- Accurate Records: Maintain precise records of meetings.
- Time Savings: Quickly review meeting summaries instead of listening to full recordings.
- Enhanced Collaboration: Share key points, meeting clips and action items with the team effortlessly.
- Identify Patterns: Analyze the data recorded over meetings to track topics discussed, spot trends and tap on hidden opportunities.
4. Collato for Intelligent Knowledge Management
Collato is an AI-driven knowledge management platform that helps product managers organize, access, and utilize information effectively. It leverages AI to provide smart search capabilities and insights, making it easier to find relevant information quickly.
Key Features:
- Smart Search: You can use natural language processing to find documents, notes, and data effortlessly.
- Knowledge Graphs: Visual reports depicting relationships between different pieces of information.
- Insights and Recommendations: Receive AI-generated insights based on your queries and data.
How to use it?
A product manager can use Collato to search for relevant market research reports, customer feedback, and internal documents, all from a single platform. The smart search and recommendations ensure that no valuable information is overlooked, facilitating better decision-making.
Benefits:
- Efficiency: Quickly access relevant information without manual searches.
- Informed Decisions: Leverage AI insights to make data-driven decisions.
- Knowledge Visualization: Understand complex relationships through knowledge graphs
5. Visily for AI-Driven UI/UX Design
Visily is an AI-powered design tool that simplifies the creation of user interfaces and user experiences. It offers intuitive design features, intelligent recommendations, and collaboration capabilities, making it an ideal tool for product managers working on UI/UX design.
Key Features:
- Intuitive Design Tools: Create wireframes and prototypes with ease.
- AI Recommendations: Receive suggestions for design improvements based on best practices.
- Collaboration: Work with team members in real-time on design projects.
How to use it?
A product manager can use Visily to create and iterate on UI/UX designs quickly. The AI recommendations help ensure that the designs follow best practices and are user-friendly. Additionally, real-time collaboration features make it easy to gather feedback from stakeholders and make necessary adjustments.
Benefits:
- Faster Design Iterations: Quickly create and refine UI/UX designs.
- Improved Usability: Leverage AI recommendations to enhance user experience.
- Enhanced Collaboration: Work seamlessly with team members and stakeholders.
Conclusion
AI tools are becoming indispensable for product managers who aim to stay ahead of the curve. By leveraging AI for communication, knowledge management, meeting insights, user analytics, and design, product managers can make more informed decisions, improve efficiency, and ultimately deliver better products. Embracing these tools not only enhances individual productivity but also contributes to the overall success of the product and the organization.
