V1I7P13

The Effect of AI and Machine Learning on Project Management Practices in International Businesses: Focusing on Efficiency, Cost, and Risk Management

Emmanuel R. Agumagu^1*, Onyekwuluje Taiwo Paul², Ogechi Salome Ikebujo³

Abstract

This study examines the transformative impact of Artificial Intelligence (AI) and Machine Learning (ML) technologies on project management practices in international business environments. Through a comprehensive analysis of contemporary literature and empirical evidence, this research investigates how AI/ML integration enhances operational efficiency, reduces costs, and improves risk management across global project portfolios. The findings reveal that organizations implementing AI-driven project management solutions experience a 25% increase in on-time delivery rates and a 20% reduction in project costs, while significantly improving predictive risk assessment capabilities. This paper contributes to the growing body of knowledge on digital transformation in project management and provides actionable insights for international business leaders seeking to leverage AI technologies for competitive advantage.

Keywords: Artificial Intelligence, Machine Learning, Project Management, International Business, Efficiency, Risk Management, Cost Optimization