AI May Accelerate Innovation, but the Product Team’s Judgement Is More Critical Than Ever

Acceleration has removed some of the constraints that used to shape product development, but it doesn’t resolve questions that have always mattered the most to us: “Should we build it? Who are we building it for? And does it solve a real industry problem?” 

The ability to build faster makes these questions even more important. This is why I believe product innovation requires more collaboration than ever before. At Vestmark, even the best ideas need to fold in a combination of market expertise, business strategy, technical skills and perhaps most critically, honest client feedback. 

Speed sans judgment may be a liability 

Before the advent of AI, development was slower and sometimes more expensive. AI is removing many of those barriers. Our product and engineering teams can explore and evaluate more ideas. They can test more concepts and iterate at a much faster pace. 

But an idea brought to life quickly doesn’t necessarily mean that it will be valuable to the client. It may still end up on the cutting room floor unless it addresses one or more of the customer’s challenges, fits their strategy and/or improves the user experience. This is where product team judgement, and a diverse range of human perspectives in general, comes into play. 

A cross-functional village 

As our team will tell you, the best solutions aren’t born overnight. They are shaped over time via collaboration among product managers, engineers, business leaders, customer-facing teams, clients themselves and industry experts. Each group may have insight into a different piece of the puzzle. 

Engineers know what is possible from a technical standpoint. Customer success teams know where clients encounter friction. Business leaders can assess whether an idea supports the company’s larger direction and is worth the investment. Product managers have to consider all of those perspectives and determine whether an idea addresses a new opportunity or a problem worth solving. 

Clients are the true reality check 

Client feedback is always invaluable throughout the product cycle. Instead of debating concepts in the abstract, teams put working prototypes in front of customers throughout the development process. They assess what works, what’s missing and if it solves a real business problem. Our team then internalizes that feedback and iterates quickly. This ensures we hit the mark on launch. 

Sometimes, that feedback reveals that a feature that sounds great on paper may not work in practice or make a real business impact. Other times, clients may help us recognize that the problem we set out to solve isn’t the most pressing one at that moment. Either outcome is valuable because it allows us to redirect resources before an idea travels too far down the development path. 

Faster cycles = more communication 

As release cycles shift from yearly to monthly, or perhaps even weekly, long, static roadmaps are becoming less effective. Product teams need to communicate more often and more transparently about what they are building and why. Constant communication amongst stakeholders may help our team adjust before investing too much time, human capital or money. 

Sometimes, that process confirms our team is on the right track. Other times, it’s back to the drawing board. It may even lead the team to walk away from the concept entirely. 

None of this is wasted effort. Knowing what not to build is important, particularly when AI can make it tempting to pursue every burgeoning concept. Ending ideation early (or failing fast) can preserve resources for a solution with more potential. 

All of Vestmark’s innovations, including Pulse, Advisor Suite and VAST, reflect our passion and dedication to that process. It underscores our deep-rooted belief that technology becomes most impactful when people work together across disciplines and teams, keeping client involvement a central part of the equation. 

AI has without question sped up the timeline and delivery of projects. But it’s the product management expertise layer (client insight, industry know-how and strategic thinking) that is critical in determining whether a product should move forward. 

Our team’s mandate is to turn close collaboration, both internal and external, into tools that help solve our clients’ biggest challenges. AI means we can do that faster than ever before. But, at the end of the day, good product management comes down to making the right choices: identifying the right problem, listening to the right people and knowing what’s worth building.