13 Must-Try AI Tools for Product Managers

How do AI Tools Help Product Managers?

AI tools help product managers by empowering them to overcome various challenges, draw data-driven conclusions, and uplift their product development. Following are some key benefits that AI tools offer for product managers:

• Enhanced Market Research: These tools help scour vast amounts of data from diverse sources and extract valuable insights about the latest trends, consumer preferences, and competitor strategies. 
• Predictive Analytics: AI-powered analytics assists in forecasting future trends and customer behavior to anticipate market shifts, identify potential risks, and optimize product strategies.
• Personalization and Customer Segmentation: AI tools for product managers help create detailed customer profiles and segments for personalized marketing campaigns and product offerings, impacting customer satisfaction and retention.
• Demand Forecasting: They can predict product demand based on gathered data, helping product managers plan production cycles effectively. 
• Automated Customer Support: AI chatbots help product managers handle customer queries around the clock, freeing them up to focus on more strategic tasks.
• Supply Chain Optimization: These tools can predict potential bottlenecks, optimize logistics, and improve inventory management, streamlining the production process from manufacturing to delivery.
• Competitive Intelligence: AI tools for product managers can monitor competitors' activities, product launches, and pricing strategies in real-time to develop counter-strategies and rise above the competition in the market.

Top AI Tools for Product Managers 

The following list of tools will support and enhance your product management processes every step of the way, be it penning down the requirements or optimizing existing cycles:

1. Jam

The AI-incorporated features, now available under JamGPT, help product managers identify bugs, get the code to fix them, and allow sharing the solutions with their team in one link. 

Key Features:

• Screen recordings 
• Integrates with other product management tools such as ClickUp
• Provides AI suggestions or quick TLDRs for bugs
• Enables quick sharing with engineering teams

Pricing:

• Free plan for individuals 
• Team: $10 per month per user
• Enterprise: Available on contact

2. ChatGPT

This natural language processing (NLP) tool provides relevant answers to any query, provided the product manager gives the correct prompt. Based on your information, this AI tool grants insights into improving customer interactions or crafting your following product roadmap. 

Key Features:

• Integrates with third-party plugins
• Analyze customer data and provide valuable insights from its knowledge base. 
• Its advanced NLP capabilities enable it to understand and process inputs from product managers for seamless communication.
• Its predictive analytics allows for forecasting future trends, product demand, and consumer behavior for data-driven decisions.
• Assist in setting up and interpreting A/B tests to optimize product features and marketing campaigns.

Pricing:

• GPT 3.5: Free
• ChatGPT Plus with GPT 4: $20 per month 

3. ClickUp

This AI for product managers is a complete solution for project management, team collaboration, and productivity record. The intervention of automation makes a range of tasks hassle-free. 

Key Features:

• Integrates with 1,000+ tools, like GitHub and Slack
• Over 15 custom views, including Board, Gantt chart, Whiteboards, and more
• The Form view helps capture customer feedback.
• Automation of routine actions based on pre-set conditions. 
• Smart/universal search to provide personalized and relevant search results, such as quickly finding any file in ClickUp or a connected app
• ClickUp AI for writing engaging copies, summarizing long text, and more. 
• Offers customizable product marketing & management templates 

Pricing: 

• Free plan 
• Unlimited: $5 per month/user
• Business: $12 per month/user
• Business Plus: $19 per month/user
• Enterprise: Available on contact 

4. Mixpanel

This AI tool for product managers is best for market research. It allows real-time tracking of user engagement and behavior patterns, favoring data-driven decisions. 

Key Features:

• Real-time analytics and insights help identify patterns
• Event tracking and customization based on business requirements 
• Helps create funnels that visualize and analyze the user journey
• Favors user retention tracking to enhance user satisfaction and engagement.
• A/B testing capabilities
• User segmentation capabilities to divide the user base into distinct groups based on different attributes

Pricing:

• Starter: Free
• Growth: $20+ per month
• Enterprise: $833+ per month

5. Notion

Notion AI is another good tool to summarize your texts and develop critical takeaways for your team members. 

Key Features:

• Helps extract research themes from executive presentations
• Provides access to AI-generated action insights
• Integrates other product management tools
• Private team spaces

Pricing:

• Free plan
• Plus: $10 per user per month
• Business: $18 per user/month
• AI: $8 per user extra per month
• Enterprise: Request demo
• Enterprise: Request demo

6. TLDV

This GPT-powered tool is one of the best meeting software that records videos. It helps transcribe and share your online meetings. It significantly enhances a product manager's productivity as the AI notes all that is important. 

Key Features:

• Integrates seamlessly with Hubspot and Salesforce
• Records video meetings conducted via Google Meet or Zoom
• AI transcribes meeting notes and auto-labels speakers 
• Comes with easy clipping and sharing options. 

Pricing:

• Free plan
• Pro plan: $25 per month per recording user

7. Bard

Another AI tool that is very similar to ChatGPT. It can help product managers in several ways, including brainstorming and validating product ideas, prioritizing product roadmap by analyzing user behavior or customer feedback data, and more. 

Key Features:

• Its NLP helps give prompts in natural language and get meaningful suggestions. 
• Helps communicate with stakeholders by generating reports, presentations, and other documents. 
• Assists in creating templates, checklists, and other documents for tracking progress on your projects 
• Automates tasks such as generating reports, creating presentations, and managing projects

Pricing:

• Free
• Pro Plan: $5.00 per month

8. Canva

This graphic generation tool offers advanced features with AI integration. Product managers can now get the image of their choice designed by Canva's artificial intelligence-powered tool just by giving inputs.

Key Features:

• Text-to-image generation
• Magic eraser to edit out unwanted portions from images
• Range of AI features, including Magic Write, Magic Design, etc
• Real-time collaboration with the team
• Drag and drop editor for easy customization 
• Easy sharing of images 

Pricing:

• Free
• Canva Pro: ₹3999 per year for one person
• Canva for Teams: available on contact.

9. Otter.AI

A must-have AI tool for product managers conducting meetings regularly. It serves as their meeting assistant that records audio, jots notes and generates summaries.

Key Features:

• It captures shared presentation slides. 
• Summarize meetings 30x faster.
• Record your meetings on Microsoft Teams, Zoom, and Google Meet.
• AI-powered transcription ability
• Automatically generates takeaways and outlines
• It offers an advanced playback function

Pricing:

• Free plan
• Pro: $8.33 per user per month
• Business: $20 per user per month
• Enterprise: available on contact.

10. Zendesk

This is an effective AI tool for product managers who have to handle customer inquiries. Its AI-powered chatbot and analytics help save time.

Key Features:

• AI-powered ticket routing
• Automated ticket tagging
• AI-driven chatbots to handle routine customer inquiries 
• AI-powered sentiment analysis of customer interactions, like emails or chat conversations
• AI-driven analytics and reporting
• AI-powered knowledge base suggestions and predictive analytics

Pricing:

• For Service:
• Basic Plan: Starts at US$ 19
• Suite Team: US$ 55/ agent/month
• Suite Growth: US$ 89/ agent/month
• Suite Professional: US$ 115/ agent/month
• Suite Enterprise: available on contact.
• For Sales
• Sell Team: US$ 19/ agent/month
• Sell Growth: US$ 55/ agent/month
• Sell Professional: US$ 115/ agent/month

11. Zoho CRM 

Zoho CRM enables product managers to engage with their customers through omnichannel presence, predictive intelligence, and more.

Key Features:

• Lead scoring and qualification
• Sales predictions
• AI-driven sales insights
• Customer segmentation based on their behavior, demographics, and preferences
• AI-based workflow automation
• Social media monitoring
• AI-driven chatbots

Pricing:

• Standard: ₹800 /user/month billed annually
• Professional: ₹1,400/user/month billed annually
• Enterprise: ₹2,400/user/month billed annually
• Ultimate: ₹2,600/user/month billed annually

12. H2O.AI 

This AI tool is best for using automation for machine learning tasks. It helps build predictive models. H2O is efficient in analyzing customer behavior and market research.

Key Features:

• Automates the entire feature engineering process
• Automated model development
• Comprehensive explainability toolkit
• AI Wizard investigates your data and provides recommendations based on your business requirements 

Pricing:

• Available on contact

13. Collato

In team environments, Collato serves as a true partner for product managers as it helps find product information across the numerous documents created by your team. It employs machine learning to access files and saves time. 

Key Features:

• It is like GPT for your product information
• Integrates with different platforms.
• Grants access to files from any connected platform
• Maintains optimal data security
• Creates easy-to-navigate visual maps 

Pricing:

• Free 
• Pro: $6 per user per month
• Enterprise: Available on contact

Benefits of Using AI Tools for Product Managers

AI tools for product managers automate several redundant tasks and offer a range of benefits, such as:

• Data-driven decision-making: AI tools can analyze customer behavior, market trends, and performance metrics and identify patterns and correlations, leading to more effective strategies and better outcomes.
• Improved product development and iteration: Automating repetitive tasks enhances product development. For instance, machine learning algorithms analyze user feedback, helping product managers review critical improvements or new features. AI tools also accelerate testing and prototyping, faster iterations, and more frequent product updates. 
• Competitive advantage: AI tools give quick insights into market trends and customer demands, allowing product managers to respond to market changes promptly, leading to a sustainable competitive advantage.
• Enhanced customer understanding: These tools can extract valuable details from customer data, allowing product managers to understand better their target audience, their customer behavior, preferences, pain points, and feedback.  

Conclusion

Learning new tools and strategies is crucial for the management wing. Take your product management career to new heights with the Product Management Certification Training Course from SP Jain Global. Get access to live training from top faculty across India, Australia, and Dubai.

FAQs

Q1. Will AI take over product management?

No, AI will not completely take over product management, but it will play a significant role in the industry. A person using AI will certainly have an advantage over those who do not, as AI tools assist managers in data-driven decisions, customer understanding, and product development. 

Q2. How can AI tools help product managers stay informed about market trends and competitive activities?

AI tools help monitor and analyze vast amounts of data. It gives product managers access to valuable insights gathered from social media, customer reviews, competitor websites, and more. By processing this data, AI helps identify emerging market trends, changes in customer choices, and competitive activities in real-time. 

Q3. Can AI tools automate repetitive tasks for product managers, and if so, which tasks?

AI tools can automate data analysis, customer support, A/B testing, content generation, and sales forecasting through cutting-edge technology.

Q4. What considerations should product managers keep in mind when selecting and implementing AI tools?

Product managers should be mindful of the fact that the tools they adopt align with their objectives, offer data privacy and security, have integration capabilities, and have a good usability and learning curve in addition to being cost-effective.