The Impact of Artificial Intelligence on Project Lifecycle Efficiency in Emerging Economies

Abstract

Artificial Intelligence (AI) is transformative to increase the efficiency of the project lifecycle within the emerging economies, where the implementation of projects is usually hampered by inadequate infrastructure, lack of skilled labors, and cost escalation. In this paper, the author examines how AI tools can be incorporated into the five major stages of project management, which are initiation, planning, execution, monitoring, and closure. The application of the mixed-methods research design with the literature synthesis and the case study of the industries, including construction, manufacturing, and public administration helps to discover that AI greatly enhance predictive analytics, automatizes routine processes, contributes to data-driven decision-making, and helps eliminate inefficiencies in project cycles. Shortage of skilled personnel, insufficient digital infrastructure, and data security and governance issues however hinder the implementation. Through proper strategic planning, capacity building, and cross-sectoral collaboration, the AI has the potential to serve as a booster of sustainable growth and operational excellence in emerging markets, the findings indicate. The paper wraps up by presenting a policy-recommended framework to AI integration in project-based setup in such economies.