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Collaborative Article: How do you use AI for product development?

Artificial Intelligence (AI) is changing the way we approach product development, offering speed, efficiency, and innovation. In this collaborative article, titled “How do you use AI for product development?”, we bring together valuable insights from leading professionals who share their experiences and strategies for leveraging AI in the product development process. From data collection and analysis to automation, intelligent feature building, and continuous improvement, our contributors highlight how AI is reshaping their workflows and enhancing their capabilities. By integrating AI into various stages of product development, these experts demonstrate the transformative impact of AI, showcasing its potential to streamline operations, generate deeper insights, and drive innovation across the industry.

Oliver Mackereth

MD at High Digital

How do you utilise AI for product development?

AI helps us loads – but for us it is just a tool to help speed up established processes. It is not (yet) an end-to-end product development solution. At High Digital we spend most of our time working on data products for ourselves and our clients so in that context we (do or could) use AI to help in the following stages:

1. Data Collection and Preparation
Often we have to collect data from various sources, including databases, APIs, and web scraping.
Using AI algorithms to automate the cleaning process is crucial to being able to handle large amounts of complex data and match / linking the data for a unified dataset.

2. Data Analysis and Insight Generation
Analysis of historical data to identify trends and patterns using AI makes up some of the key work we have done with Hanse Analytics using international trade data
We are working on Predictive Analytics to suggest future outcomes based on historical data using regression analysis.
We can also look at prescriptive Analytics which leverage AI to provide recommendations on actions to take based on predictive models. Al ot of BI tools have some of these features built in now to help you get started.

3. Building Intelligent Features
Natural Language Processing (NLP) is capable of analysing and interpreting text data. This can be useful for sentiment analysis, topic modeling, and text summarisation. which is really useful in realtime – and also looking back at historical trends in content. We can combine our NLP work with Recommendation Systems: that provide suggestions based on user preferences.

4. Automation and Efficiency
We have driven efficiency by the implementation of AI-driven workflows to automate data processing tasks, such as ETL (extract, transform, load) operations.

5. Continuous Improvement and Learning
Model Training and Evaluation: Continuously train and evaluate AI models using new data to improve their accuracy and performance.
Feedback Loops: Implement feedback mechanisms to capture user interactions and outcomes, allowing AI models to learn and adapt over time.

6. Deployment and Scalability
Cloud platforms that we use have AI models ready to deploy, ensuring scalability and accessibility.
To facilitate AI capabilities we pay attention to APIs connecting AI features into existing systems and workflows.

These are some of the tools we use in our workflows or platforms:
– Machine Learning Frameworks: Use frameworks like TensorFlow, PyTorch, and Scikit-learn for developing and training AI models.
– Data Processing Tools: Utilise tools such as Apache Spark, Hadoop, and SQL databases for handling large volumes of data.
– Visualisation Tools: Integrate AI with data visualisation tools like Tableau, Power BI, and D3.js to present insights in an easily understandable format.

Daniel Rawles

Fractional Chief Innovation Officer – RightSpend

I have worked in many areas of product development, from:

Feasibility, validation and evaluation research
Scoping and planning
Product owner and technical delivery
Product marketing including positioning and GTM

I have run 2 digital agencies plus worked with global tier 1 agencies like Ogilvy working for huge brands like F1, Samsung, EY, Ford, Amex, etc

AI has allowed me to brainstorm ideas and validate ideas so much more quickly building a knowledge model of a product means it creates a storage for all relevant information allowing me to infer insights from the data from many different perspectives as different specialist personas.

David Odier

Izrom

We’ve been constantly using AI to build our product strategy at Izrom. First and foremost, to gain faster access to existing research that has already been conducted.
It saves us a lot of time as AI computes summaries for us directly
From then, we’re also leveraging several AI-based tools to build portals and other web projects that work well for us.
Lastly, we’re using AI in several design software to accelerate the product design phase ahead of integrating them on web pages.

 

In conclusion, the integration of Artificial Intelligence (AI) in product development is reshaping the industry with remarkable speed. The insights shared by our contributors, from data collection and analysis to automation and continuous improvement, highlight AI’s transformative potential. Oliver Mackereth, Daniel Rawles, and David Odier have demonstrated how AI enhances various stages of product development, enabling deeper insights, streamlined operations, and innovative solutions. As AI continues to evolve, its role in product development will only grow, offering new possibilities and driving further advancements. We hope these expert perspectives inspire you to explore AI’s capabilities and incorporate them into your own product development strategies.

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About the author: Tilly Little
Digital marketer at Expert Circle

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