A SURVEY ON PRODUCT MANAGEMENT PRACTICES IN ARTIFICIAL INTELLIGENCE (AI)-POWERED TOOLS AND FRAMEWORKS WITH CURRENT TRENDS AND CHALLENGES

Abstract

At present, with industries so closely connected globally, upgrading business operations is necessary to stay ahead
globally. Industrial enterprises rely on Product Lifecycle Management (PLM) which is a key element for success. By adding AI
to PLM procedures, data analysis, machine learning and automation are helping improve how products are managed and customer
satisfaction. We aim to examine the current use, emerging trends and difficulties in applying AI tools and platforms in PLM. This
work shows that using AI in product management allows for better analysis of user behavior, streamlines the design process and
supports intelligent automation, all while looking after issues like transparency, fairness and accountability. The report also notes
that integrating AI from the beginning of PLM through to the end makes it easier for companies to innovate sustainably in their
products. The goal of this paper is to equip organizations with knowledge to successfully utilize AI in managing the modern
demands of product management and compete around the world.