AI in Product Management: Efficiency, Quality, and Innovation

Artificial Intelligence (AI) is transforming the way products are managed, manufactured, and quality controlled by providing data-driven choices, enabling intelligent automation, and preliminary information. This is a review of the way AI helps in increasing efficiency, improving the quality of products and also in promoting innovation throughout the product lifecycle. AI is useful in product management in supporting market forecasting, optimization by design, and personalization. In the factory industry, it initiates intelligent factories, proactive maintenance, and cost-efficiency. AI can be used in quality management to ensure real-time monitoring, detection of defects, and compliance. Although there are advantages, namely the cost savings, agility and sustainability, there still are challenges associated with the development like data dependency, integration, workforce adaptation, and ethical concerns. The future trends point to generative AI, digital twins and sustainability.