The product strategy is a crucial product management artefact. But what exactly is it? Who should create the strategy? How often should it be reviewed and updated? How does AI influence strategic decisions? And what product strategy mistakes should you avoid? These are some of the strategy questions that I am frequently asked in my workshops and coaching sessions, and that I answer in this article.
AI has significantly impacted software-based products and has started to change how product management is practised. But how is it affecting product strategy? Can AI-powered tools lead to better strategies? Can they even make strategic product decisions on their own? In this article, I discuss the benefits and limitations of using AI to create a product strategy, as well as the foundations you should put in place to take full advantage of AI tools.
For any business to succeed, it is crucial to make the right strategic choices. To achieve this, you’ll benefit from using four different types of strategies: business, portfolio, product, and technology strategy. But that’s not enough. You’ll also have to successfully align the plans. To help you address these challenges, I have developed a new framework, the Strategy Stack, which I introduce in this article.
Change seems to be the only constant when it comes to software technology. Over the last ten years, microservices, cloud-based computing, augmented reality, blockchain, the Internet of Things, machine learning, and artificial intelligence have emerged—to name just a few new technologies. But as product people, we are often so busy with getting new and enhanced features delivered that we risk overlooking new tech trends and being overtaken by competitors. In this article, I share three tips that help you spot new and potentially disruptive technologies early on so you can take full advantage of those that will benefit your product.