Intelligent Project Risk Management – Can AI help to uncover unknown unknowns?

In a world of increasing uncertainty with many unknown unknowns, the management of risks in projects is naturally impacted and becomes more and more difficult, resulting in many projects going off track and being subject to failure.

Accordingly, organizations should be defining new ways to help detect or better predict these risks prior to them materializing. One begs to think, that this could potentially be done by applying Artificial Intelligence to use historical project data to identify hidden patterns. But to what degree can AI effectively contribute to better and accurate detection of risks?

Taking into consideration the different types of uncertainty as well as the impact of human biases, we want to understand how project risk management will look like in the future. Has AI the capability to significantly reduce the risks of projects failing from unknown unknowns by detecting previously hidden risks or even black swans early enough? And what will be the role of the human project manager in the future in the context of project risk management?

Together with our guest, Rüdiger Geist, Associate Professor in Project Management at the University of St. Petersburg and the University of Reykjavik, we will have an in-depth discussion about this topic and explore possible scenarios from both the human side as well as from the angle of technological capabilities.