Elevate or Be Left Behind: The Role of AI in Modern Product Management
AI is reshaping the skill landscape, turning average PMs into experts. Don’t get left behind — Elevate your skills and stay ahead of the curve! 🚀
In today’s fast-paced world, the role of a Product Manager (PM) is more demanding than ever. From understanding market needs to coordinating with cross-functional teams, a PM’s plate is always full. But what if there was a way to not just manage these responsibilities more efficiently but also elevate your skill set? This is where Generative Artificial Intelligence (AI) plays an important role.
In a recent episode of the Harvard Business Review Ideacast podcast Prof Karim Lakhani shed light on how AI can reshape the skill distribution curve among professionals, including Product managers. In this article I try to expand on Prof Karim’s idea and aim to delve into how embracing AI can give you an upper hand, shifting the normal distribution curve of PM skills to a left-skewed one.
The Traditional Skill Distribution Curve
Traditionally, the skill level of PMs can be mapped on a normal distribution curve(bell curve). On the right end, you have highly skilled PMs who are experts in their domain.
The middle represents the average PMs who do a decent job but may lack specialized skills. The left end comprises those who are still learning the ropes of the trade. This distribution is about to undergo a significant shift, thanks to Generative AI.
AI: The Equaliser
AI tools like ChatGPT for content generation or Mid Journey for visual prototyping are not just fancy add-ons; they are game-changers. For PMs on the lower skill end and those in the middle of the curve, Generative AI can serve as an equalizer.
It can automate mundane tasks, provide data-driven insights, and even assist in decision-making. This allows PMs to focus on more strategic aspects of product management, thereby elevating their skill set.
Automation is crucial for freeing up Product Managers to focus on more strategic endeavors. In the role of a modern PM, the emphasis shifts towards ideation and delivering insightful contributions as key responsibilities.
PS: Do you know Chatgpt can do data analysis? Just upload a data sheet and ask Chatgpt to analyze and provide insights. Giving context and asking specific questions would yield better results.
The Shift in the Curve
As more PMs start leveraging AI, the skill distribution curve will become left-skewed. The average and less-skilled PMs will move towards the higher-skill end, narrowing the gap between them and the experts.
This doesn’t mean that highly skilled PMs will lose their edge; rather, they will also benefit from AI, but the most significant uplift will be experienced by those in the middle and lower end of the curve.
The Future of Product Management
The integration of AI into product management will not only elevate the skills of individual PMs but also raise the overall standard of the field. Companies will have access to a more skilled pool of PMs, leading to better products and, ultimately, happier customers.
However, this transformation requires PMs to embrace AI actively. Learning how to use these tools effectively will be crucial in staying ahead of the curve — both figuratively and literally.
”To improve is to change; to be perfect is to change often.” — Winston Churchill
AI is not a threat to jobs, but a tool that can make us better at what we do. As PMs, it’s high time we shed any inhibitions and embrace AI as the game-changer it truly is.
The future belongs to those who can adapt, and with AI by your side, you’re not just adapting; you’re thriving.
