Introduction:

Hey there, fellow Product Managers! We know the hustle is real, from dealing with data silos to collaborating seamlessly with your team and ensuring accurate customer insights. The challenges are part of the daily grind. But what happens when efficiency and productivity lag? Problems pile up, projects get delayed, and you find yourself drowning in chaos. Fear not, because we're here to introduce you to a league of superheroes – AI tools specifically designed for Product Managers to save the day.

Let's dive in and explore the top 15 AI tools that can not only supercharge your productivity but also rescue you from the clutches of common product management (PM) challenges.

Why are AI Tools Needed for Product Managers?

Before we unveil the AI arsenal, let's address the elephant in the room – why AI? Well, the stats speak for themselves. The global AI market is set to explode at a CAGR of 37.3% from 2023 to 2030, reaching a whopping $1,811.8 billion by 2030 (Source: Grand View Research). AI is projected to contribute more than the combined output of India and China to the world economy by 2030, a staggering $15.7 trillion (Source: PwC).

Also, IBM reports that over 76% of companies have already embraced AI or are actively exploring its possibilities. The key lies in using AI as your trusty assistant, not a replacement for your strategic thinking.

Let's meet the AI heroes that can make your product management journey smoother, faster, and more efficient.

ChatGPT: Your Generative AI Chatbot

Function: Writing and research assistant. Harness the power of ChatGPT to enhance your writing, research, and user insights. Use it to predict user behavior and refine product features.

Cost: Free and Premium ($20 per month)

How to use: Conduct research, gather feedback, create user personas, generate insights, predict user behavior, and enhance product features.

Shorter Loop

‍Function: Generative AI-powered end-to-end product management productivity booster**.** An all-in-one product management platform that helps product teams ideate, strategize, and build exceptional products customers love. It offers features such as continuous product discovery strategy,  visual collaboration, idea (feedback/issues) management (from customers, internal and external stakeholders, cross-functional teams), planning, roadmap and feature prioritization, build/launch, dashboard analytics, and continuous measure and learn with unlimited experiments.

Shorter Loop’s AI-driven analytics can help you prioritize features, segregate feedback under meaningful themes, and split feedback into most important, good but less important, and nice-to-have feedback in the idea management module. product roadmap module.

Cost: Free (for solopreneurs, and students) and Premium for Startup small teams ($10 per user per month), Scale-ups -growing teams ($20 per user per month), and Enterprises with bigger teams globally ($30 per user per month).

How to use: Supercharge your productivity, get things done right always, and build products customers love.

• Shorter Loop does this by helping you discover the right product-market fit by providing answers to the fundamental business and product management questions – who are my customers? what are their needs, challenges, and solutions, what features to build FIRST to fulfill customer demands and meet business objectives, are you focusing on the RIGHT problems or solutions? what business model to follow (GTM) to accelerate market penetration and customer engagement.
• It also allows you to reach out to prospects and customers at every stage of the product dev cycle – from ideation, product vision, Define, MVP, and planning, launch, and continuous measuring.
• It helps you to plan your roadmaps that are realistic from the customer and business point of view from your backlog or idea management. Integrated with Jira.
• Make you build a realistic product by gathering continuous insights from unlimited experiments set up to prove/reject hypotheses. Take data-driven decisions to fine-tune your product strategy by setting up all the product metrics crucial from customer, product, and business points of view. It automates repetitive tasks, manages workflows, reduces manual efforts, and is powered by gen AI. To use Shorter Loop, you can sign up for free on their website and choose a plan tailored to your product management needs.

Shorter Loop helps you get more things done with quality in much less time and cost by streamlining your product management activities and keeping your customers’ expectations in mind.

Suggested read: Best Global Product Management Conferences in 2024 | Top 2024 Product Management Trends to Watch Out For

Canva: Design Superpowers with AI

Function: AI-Powered Graphic design platform. Elevate your product management with Canva's graphic design platform. Create attractive designs and streamline market research visuals.

Cost: Free and Premium ($14.99/month)

How to use: Elevate your product management with attractive designs, generate images based on text, collaborate on visual content, and streamline market research visuals.

Figma: Collaborate Creatively

Function: Collaborate effortlessly with Figma's AI-enabled user analytics. Visualize user journeys, conduct market research, and identify features for user retention.

Cost: Free and Premium (starts at $20 per month)

How to use: Conduct market research effortlessly, segment users, visualize user journeys, perform A/B testing, and identify features for user retention.

Midjourney: Navigating Product Development

Function: Collaborative design tool. Enhance the creative aspects of your product management with Midjourney's collaborative design tools. Streamline feedback and collaborate seamlessly.

Cost: Premium plans available. Starts from $8 per month to $96 per month billed annually.

How to use: Collaborate on design projects, streamline feedback, and enhance the creative aspects of your product management.

Otter.ai: The AI Scribe for Meetings

Function: AI tool for meeting notes. Otter.ai automates meeting notes with AI precision. Transcribe meetings, and benefit from features like custom vocabulary for seamless collaboration.

Cost: Otter.ai offers a free plan that allows you to transcribe up to 600 minutes per month. The paid plans start at $8/month and offer additional features such as higher transcription limits, custom vocabulary, and more. The pro starts at $10 per month, the business $20 per month, and the enterprise plan requires customization. Hence after the demo, the client’s needs cost is derived.

How to use: Install the application and give it access to all your meeting apps – Google Meet, Teams, Zoom, and others. That’s it!

Supernormal: Elevate Your Team Collaboration

Function: AI tool for automated meeting transcription (without any fillers). Supernormal is a transcription and recording software that allows you to transcribe or record videos of all your meetings automatically. You can use Supernormal to transcribe podcasts, record Google Meet sessions, and use it with Microsoft Teams

Cost: Free and Premium (starts at $10 per user/month)

How to use: Record and transcribe meetings, integrate with video conferencing tools, and ensure smooth transitions between discussions and implementation.

Collato: Your Organizational Brain

Function: AI-powered assistant designed to help you find, summarize, and generate new content from your team’s collective knowledge

• It aids in the creation of product documents, summaries, and insights from existing data, allowing you to focus on the aspects of your job you enjoy most. Collato can connect to various tools such as Google Drive, Confluence, Jira, and Notion, and it can source knowledge from these tools to generate new content.
• Cost: Free, and Premium (starts from $6, and for enterprise contact us)

How to use:

• You can prompt Collato to draft a document, summarize insights, or answer a question about the information you’ve connected
• Collato also shows you exactly which sources are used in its response, so Collato is an AI-powered assistant designed to help you find, summarize, and generate new content from your team’s collective knowledge
• Collato can connect to various tools such as Google Drive, Confluence, Jira, and Notion, and it can source knowledge from these tools to generate new content.

1. You can prompt Collato to draft a document, summarise insights, or answer a question about the information you’ve connected
2. Collato also shows you exactly which sources are used in its response, so you can trust that the results are trusted

Conclusion:

AI tools are not just a trend; they are the future of productivity for Product Managers. Embrace them as your allies, use them wisely, and witness how they transform your product management journey. While AI is a powerful assistant, always wear your logical hat, acknowledging that not every result is infallible. With these tools by your side, you're not just a Product Manager; you're a Product Management superhero!

Frequently Asked Questions:

1. Are these AI tools suitable for small teams or enterprises?

Yes, most tools offer flexible plans, catering to solopreneurs, small teams, and large enterprises. Check individual pricing details for scalability.

2. How can I integrate these tools into my existing workflow?

Most AI tools seamlessly integrate with popular platforms like Jira, Google Drive, and others. Detailed guides are usually provided for easy integration.

3. What sets Shorter Loop apart from other product management platforms?

Shorter Loop's end-to-end approach covers everything from discovery to continuous measurement, offering a comprehensive solution for efficient product management.

4. Can these tools be used by non-technical Product Managers?

Absolutely! The user-friendly interfaces of these tools make them accessible to both technical and non-technical Product Managers.

5. How can AI tools enhance collaboration within product teams?

AI tools like Collato, Supernormal, and Figma are designed to streamline collaboration, making it easier to share insights, transcribe meetings, and collaborate on design projects.