Business and project management in 2024 are poised to see significant shifts driven by advancements in technology and changing work cultures. AI (Artificial Intelligence) is notably leading the revolution in business practices while employees are taking the reins in technology selection. These changes are interlinked with the prevalence of remote working, a trend solidified in the era of Covid-19.
Paul Oppong, a thought leader in project and portfolio management, highlights AI as the transformative force behind contemporary business practices and decision-making processes. “As can be expected, AI is having a historical impact on operational efficiency, predictive analytics, and customer experience,” says Oppong. He further explores the use of AI-driven applications in the business realm, citing project planning, risk assessment, and resource allocation as key areas of AI deployment.
However, the rapid adoption of such technologies is not without its challenges. According to Oppong, organisations are currently navigating through an initial adjustment phase. “Organisations will face an initial period of adjustment to these changes, which may include delays in project delivery as teams acclimate to new AI tools, shifts in job roles to align with evolving technology demands, and there will be significant modifications to older processes for AI integration.” he states. Yet he asserts that this period, while challenging, will provide opportunities for businesses to streamline operations, improve decision-making processes and spur innovation.
Changes in work culture, particularly around remote working, have also considerably influenced corporate dynamics. Remote working arrangements, normalised due to the Covid-19 pandemic, have introduced new challenges and ways of operating. “Remote work has required new models and approaches for team dynamics, communication, and project management,” Oppong explains. As firms become more adept at managing remote teams, refining their strategies and tools, they are making strides in digital literacy, virtual team management skills, and innovative methods of maintaining team cohesion and project momentum virtually.
The other prominent trend is the role of employees in technology selection, leading to more user-friendly and effective technology solutions in the work environment. “This shift means employees feel empowered; now we are seeing more user-friendly and effective technology solutions in the workplace,” Mr Oppong observes. He advises, however, that while employee input is invaluable, there needs to be a delicate balance to ensure organisational security and strategic objectives do not compromise. Clear communication about organisational requirements and constraints is crucial in guiding appropriate technology selection.
The year 2024 marks a transformative phase in project and business management. Powered by AI, resilient in the face of remote working, and guided by more autonomous technology selection, the business ecosystem is experiencing trends that are fostering a more dynamic and efficient work environment.