From the course: Strategic Project Risk Management
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AI in project risk management
From the course: Strategic Project Risk Management
AI in project risk management
- AI's applications extend across a project, program, and portfolio management with the tools designed to address the specific needs and challenges. One of the most transformative tools is generative AI, which is especially effective across various management levels due to its ability to simulate and predict outcomes based on extensive data analysis. It can be used in every one of the applications we talk about in this video. Let's start with project management applications. Number one, generative AI. Large language models like ChatGPT can identify, analyze, and prioritize risks early on and recommend mitigation actions. For instance, take the manufacturing industry where it can foresee potential supply chain bottlenecks and equipment failures before they cause project delays, suggesting proactive fixes to mitigate these risks. Number two, predictive analytics. For large scale infrastructure projects, AI can forecast the long-term impacts on environmental, social, and governance or…
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