By Chimdinma ADIMEKWE
As a Senior Product Manager, I have always been passionate about leveraging budding technology to enhance innovation and efficiency. Artificial Intelligence has become a pivotal element of product management in recent digital dispensation, fundamentally changing the way professionals cater for various aspects of business operations, including day to day activities and processes.
AI is not a mere tool, but instead a sophisticated tool that has the ability to transform our decision-making process by utilising intelligence and data. This enables us to make more informed decisions that align with users’ propensity and ultimately lead to business expansion.
Recently, a lot of people have asked me about the role data plays in product management. After introspection, I answered “Data isn’t just numbers—it’s the voice of the users, assisting us to make informed decisions that truly drive growth.”
In my role at Capsa Technology (Africa’s first digital alternative finance market place), I constantly utilised data-driven insights to inform every strategy. For instance, by analysing user behaviour data, I noticed a crucial drop-off point in our onboarding process. By enhancing that experience, we saw a 90% increase in user retention.
Artificial Intelligence has become a pivotal element of product management in recent digital dispensation, fundamentally changing the way professionals cater for various aspects of business operations, including day to day activities and processes.
Chimdinma Adimekwe
Furthermore, through A/B testing, we improved our features to ensure they aligned with user preferences, consistently driving growth and satisfaction.
The natural transition for forward-thinking, data-driven product managers is to ask: How can I utilise AI to enhance my data skills? AI offers unequalled opportunities, giving room for product managers to dive deep into market trends, customer behaviour, and competitor landscapes with speed and accuracy.
When utilised effectively, AI can uncover insights that were once unachievable, empowering us to streamline our strategies in real-time.
Consider Netflix’s recommendation engine as a real life scenario of AI’s revolutionary influence. By dissecting large amounts of user data including preferences and viewing habits —Netflix leverages machine learning algorithms to deliver highly personalised content recommendations.
By leveraging robust algorithms to evaluate user preferences, product managers can deliver personalised services that enhance loyalty and satisfaction.
Chimdinma Adimekwe
This AI-driven approach keeps users engaged and has been pivotal in Netflix’s growth, ensuring viewers return for tailored experiences that feel uniquely customised designed for them.
Similarly, in the e-commerce sector, Amazon utilises AI for dynamic pricing. Their AI algorithms analyse competitor pricing, customer data and product demand in real time to scale prices. This not only places Amazon ahead but also tailors the shopping experience to users preferences, increasing customer satisfaction and conversion rates.
Product Managers can utilise the force of AI in assisting their organisations make informed decisions. For instance, product managers and Fintech products leverage AI-powered predictive analytics into their products.
They can utilise machine learning models to analyse historical transaction data, payment pattern and credit histories, enhancing to forecast crucial outcomes such as cash flow stability, default risks and future cash flow stability. The AI tool, which consists of supervised and unsupervised learning models, will constantly learn from real-time data, improving its predictions and providing more flawless risk assessments.
Innovation is the bedrock of product management, and AI is now taking the charge in personalising customer experiences. By leveraging robust algorithms to evaluate user preferences, product managers can deliver personalised services that enhance loyalty and satisfaction. The dispensation of one-size-fits-all solutions is over—AI enables us to craft products that adapt to the unique needs of each user, enhancing their experience and ensuring lasting engagement.
Product Managers can utilise the force of AI in assisting their organisations make informed decisions. For instance, product managers and Fintech products leverage AI-powered predictive analytics into their products.
Chimdinma Adimekwe
In order to sustain the forefront role of AI-powered product management, I leverage data-driven insights to build realistic strategies. I also support the full utilisation of AI technology by diverse teams, leading in the development of solid products and user experiences. The key is not just to embrace AI, but to activate a culture of innovation that thrives on AI’s prospects
With the enhancement of technology and the prevalent adoption of digital transformation, artificial intelligence will continuously have a crucial significance on product management. From advanced data analysis to forecast analytics and personalised user experiences, AI provides us the tools to progress more than ever before. For product managers willing to adopt this revolution, the future is lucid , and full of opportunities to redefine what’s attainable.
About the writer:
Chimdinma Adimekwe is a Senior Product Manager with a track record of successfully implementing strategic alliances and growing data-driven software solutions. Her skills spans the financial and edtech industries, where she has successfully led product development, integrated AI and cloud technologies, and built high-impact partnerships.
Chimdinma is an expert in creating creative solutions that increase revenue, improve user experiences, and expedite procedures. She is renowned for her capacity to guide more junior product managers and cultivate an atmosphere that stimulates innovation and professional development. Chimdinma is an invaluable asset in the tech sector thanks to her leadership qualities and strong technical abilities in cloud computing, SaaS, and artificial intelligence.
