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Can AI assist with Product Development?

The challenges in Product Development & what can AI expert help do for you

Coming up with the idea or concept for a business is often seen as the trickiest part. People will spend hours working on their logo and their business name, and spend a small fortune on new notebooks to sketch out their innovative ideas in. Once they’ve found their niche, the battle feels like it’s been won! Time to sit back and wait for the millions to roll in, right?

Not quite. After this part in the business process, you’re going to need to get yourself a prototype, or a patent- and then comes the factories, recruitment and sales strategies. There’s a lot that goes into creating the perfect product for a business.

Product development is one of the hardest parts of succeeding as a business, especially if you’re a new company. It’s fairly standard practice to hire an expert here, but this can be a lengthy and expensive process. But what other options are there on the market right now?

This is where devToM comes in. It is an AI-powered product development platform that exists to help product owners, development teams and managers ace their development process and end up with an innovative, high quality finished product. The platform has been built via ‘expert modelling’ and trained by several human experts who has developed products for some of the largest consumer brands in the world- so you can be assured that the knowledge our product gives out is to the highest industry standard possible.

There’s a number of key features and solutions that our unique platform can help businesses overcome. In this blog, we’ll be taking a look at the key issues that can be found in the product development process.

Why is spending time on the product development process so important?

You’d be surprised at how many people don’t spend enough time on their product development process. Put simply, the product development process refers to the time between product conception and introduction to the market.

This process needs to have the entirety of your attention, as it can make or break your business. Not putting in enough time, energy and resources in this part of your journey as a business can result in a lacklustre product, or even no product at all. The time after product development is crucial of course – you wouldn’t really get anywhere without sales, marketing and customer service – but don’t try and rush through this part the wrong way. If you put in the time here, we’re sure that you’ll see the results in no time.

Key issues you can face in product development

Now that we’ve seen the importance of product development, what are the key issues that a business could face during this crucial process? One of the main issues that a business could face during the product development process is being unable to define their requirements and goals as a business. This is very common, especially amongst startups and newer brands. It’s all well and good being able to give a business aim or mission, but being able to give a specific, achievable goal with a deadline is a lot harder than it can seem.

Another issue that could come up during unaided product development is managing scope creep– or put simply, dealing with scenarios where requirements change due to the project reaching past what it was intended to reach in the first place. This can take a lot of practice, and can often throw even the most well-developed of teams.

Something else that could come up during the product development process is issues with stakeholders. This could relate to managing funds, communication issues or disagreements on the scope of a project. These can all be incredibly detrimental to a business, and can also damage important relationships within your company.

A final key point that could come up during an unassisted product development phase is difficulty managing the balance between a minimum viable product (MVP) vs an unfinished product. A minimal viable product is a product that can be marketed and allow a business to gather key data and feedback, but not one that is completed. Finding the balance between an MVP product and one that’s not been fully formed can be tricky, and getting this wrong can cause a lot of embarrassment and future problems for your business.

Where devToM comes in

Luckily, there are ways of overcoming all of these issues- and many more. Our platform has been engineered with meeting your goals in mind, and we’re confident that DevToM can help you perfect your product development process.

One of the main issues that DevToM can help you overcome is the previously mentioned issue of finding the key insights and solving undefinable or confusing requirements as a business. One of the best things that our platform can offer you is in-depth insights and reports, filled with information that’s been provided and improved upon by our industry expert and AI virtual assistant Tom. This a crucial feature, as it provides you with all of the benefits of working with a real expert, but less of the issues like setting up meetings or paying by the hour.

Another issue that DevToM can help you improve upon is the inability to manage scope creep. Our product intelligence insights module will help provide you with regulatory challenges, market trends and so much more. Take a look here to see all of the specifics that the product intelligence insights module can help with.

The next issue that we can help you with is problems with stakeholders. Working with DevToM means that you’ll be able to showcase industry-level reports and insights, to prove how beneficial your product will be and how successful your business is being. Showing them solid facts and data, backed up by our wealth of knowledge and expertise, is the best way to make sure that they are happy with what you and your team are doing for the company.

Key features

Now that you’ve seen the key issues that devToM can help you with, let’s take a look at each of the specific key features and benefits that you can expect to receive when working with this platform. The key features that you should be aware of include;

  • Market insights. This particular feature showcases what you need to know about your industry and specific sector. Working with this insight tool will offer you everything that you need to know about market trends, industry regulations, manufacturers, influencers in your specific niche and a whole lot more. This is a fantastic tool to use to help you evaluate your work from an outsider’s perspective.
  • Product insights. This features shows you multiple things that you need to know about your product in particular and your industry; including similar product and consumer interests in your sector, and an insightful analysis of key pain points, problems, solutions and pricing too. This is a great tool for self-reflection, but also a great tool for understanding your competition and sector as a whole.
  • Intellectual property insights. Something else that devToM has to offer is an IP insights function. This particular function looks at key trademark and patent insights for your product, and give you all the necessary information. It also evaluates your product, and shows you how you can gain a notable yet sustainable advantage over the competitors in your field.

As you can see, our platform offers all of the benefits of spending time working with a real industry expert, without any of the issues that might come along with that. We’re proud to offer all of these insightful services and more, and are sure that they’ll be helpful for improving the product development process in your business.

To sum up

In conclusion, your business could be improved immensely simply by working on your product development process. Our platform has been built entirely with this goal in mind, and our team is dedicated to helping you achieve these goals. Sure, you could just hire an expert to help out here, but the development in AI and technology in the last few years has been breathtaking- so why not use it for your own product and teams?

Whether you’re having issues defining your product development process and requirements, problems with your market trends knowledge, rate of innovation within your company, or something else entirely, the team at devToM is here to help you.

If you’re not convinced that working with AI is the best step forward for your business , make sure you check out our free trial to see the amazing benefits of working with devToM in your own business. Take a look here to get your hands on a 14 day free trial.

If you want to get in touch with us to speak about how we could help your business or ask any further questions about what the platform could do, we’d be glad to hear from you. Please feel free to email support@devToM.ai to speak to a member of our team today.

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