Harnessing generative AI in product management: Practical use cases from ideation to go-to-market

Rishi Venkat *

Principal Product Manager, People Product, Walmart Inc., Bentonville, Arkansas USA.
 
Research Article
International Journal of Science and Research Archive, 2023, 10(01), 1151-1159.
Article DOI: 10.30574/ijsra.2023.10.1.0710
Publication history: 
Received on 21 July 2023; revised on 14 September 2023; accepted on 17 September 2023
 
Abstract: 
Generative AI is transforming product management by supplying powerful tools and competencies that improve various factors of the product lifestyles cycle. In the ideation section, generative AI algorithms can analyze significant quantities of market information, customer traits, and competitor statistics to generate novel product standards and features. This not only hastens the ideation process but additionally enables product managers to perceive unique possibilities that may have been disregarded through conventional techniques.
As the product improvement progresses, generative AI can assist in writing product requirements documents, developing prototypes, optimizing consumer interfaces, or even producing code snippets, appreciably reducing time-to-marketplace and development expenses. Furthermore, generative AI is revolutionizing move-to-marketplace strategies through providing facts-pushed insights for targeted advertising campaigns, customized customer reviews, and predictive analytics for income forecasting. By leveraging device learning algorithms, product managers can now make more informed decisions approximately pricing, distribution channels, and market positioning.
The integration of generative AI in product control also allows non-stop improvement through actual-time remarks evaluation and automatic A/B checking out, allowing product teams to iterate and refine their services extra correctly. As a result, agencies enforcing generative AI in their product control strategies are experiencing accelerated innovation, stepped forward product-marketplace in shape, and better client pleasure, ultimately leading to a more potent competitive role within the market.
 
Keywords: 
Generative AI; Product management; Rapid prototyping; User insights; Go-to-market strategies; Predictive analytics; Personalized marketing; Workflow transformation; and Innovation enhancement; Sentiment analysis; User personas
 
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Copyright © 2023 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0