Generative AI (gen AI) tools can significantly increase the productivity of software product managers, especially for content-heavy tasks. Research by senior partner Chandra Gnanasambandam and coauthors finds that when using gen AI programs, product managers can complete certain tasks, such as writing press releases and creating product backlogs, in 40 percent less time than they would without the tools. However, gen AI capabilities have a smaller impact on content-light tasks, such as gathering and summarizing data for presentations, reducing time spent by 15 percent.
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A two-screen animated circle illustrates the average duration of project management tasks with and without the use of generative AI (gen AI). The first screen shows a circle made up of a timeline of 185 dots that represent 116 minutes spent on content-heavy tasks and 69 minutes spent on content-light tasks, as assessed without the project managers using gen AI. The second screen shows the same circle with some of the timeline grayed out, leaving 129 dots that represent 70 minutes spent on content-heavy tasks and 59 minutes spent on content-light tasks, as assessed with the project managers using gen AI. The use of gen AI resulted in the shortening the duration of content-heavy tasks by ~40% and of content-light tasks by ~15%. Source: McKinsey Generative AI and Product Management Study, 40 project managers in Canada, Europe, Latin America, and US.
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To read the article, see “How generative AI could accelerate software product time to market,” May 31, 2024.