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

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 analyses, machine learning and automation are helping improve how products are managed and the satisfaction of customers. 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 adding AI from the beginning of PLM to the end makes it easier for companies to innovate sustainably in the products they offer. 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.