💡Product Circle ⭕ Chat - GenAI in Product Management with Greg Prickril
💡Product Circle ⭕ Chat 36 with Greg Prickril took us through how he uses ChatGPT and CustomGPTs to save time in the day to day product role.
💡Product Circle⭕ Chat runs every second week as a Zoom call that anyone can join to talk all things product, product management and problem solving. Creating value for customers and the business.
Best of all, when you attend live, you receive goodies like free courses and decks (like Janna Bastow provided), a free book (like Rich Mironov, Roman Pichler and others provided), access to their course for free (like John Cutler provided) and many more. Don’t forget to follow the 💡Product Circle ⭕ Chat calendar on Luma and register from our next talk on 💡 Product Circle ⭕ Chat - Big bets vs small bets in Product Discovery with Sam Sida on 30 January!
Become Irreplaceable in 2025
Before we get to Greg’s talk (and recording) below, I’d like to share with you two great courses I’m running. Both virtually and both based on my 20+ years in Product Management.
1. Product Commercials Masterclass - P&L for Product Managers
You’ll learn how to read a Product P&L, what the acronyms mean, which ones are important for product people, how to forecast out and how to read the impact of your product activities on the monthly profit and loss statement. We go into how to create a financial business case model to support your Product Initiatives plus how to communicate and present the Product Health to the leadership team. Tailor your messaging to your audience, influence leaders and get support for your product goals.
Over 4 hours of live training, you’ll get recordings, slides, certificate and a financial business case template you can use for your own modelling.
This course is from my real experience in Product Managemement during my time at Telstra, Optus and Virgin mobile presenting to CEO, C-suite and other Leaders.
Level up your commercial acumen in 2025 with the Product Commercials Masterclass - P&L for Product Managers this February.
Come along and bring your team.
2.Pricing and Monetisation Strategies Masterclass
The Pricing & Monetisation Strategies Masterclass is one I’m really proud of. I used to teach it over 5 years ago at General Assembly in Sydney Australia. I’ve now updated it to include mine (and everyone’s fascination), GenAI.
In over 4 hours, over 3 days virtually, you’ll learn to actually calculate your customer’s willingness to pay. We start with understanding your Customer’s Perception of Value, calculate Willingness to Pay, understand the importance of Price Elasticity of Demand and how to find your Product’s Zone of Genius. We get into the factors in choosing a pricing strategy, the monetisation tactics available, how pricing psychology impacts conversion and why messaging matters. I take you through the legal and regulatory impacts on Pricing and well as how you can use GenAI in your pricing the maximise willingness to pay.
Plus, you get the recordings, the slides and a certificate upon completion.
Stop leaving money on the table with the Pricing and Monetisation Strategies Masterclass in March.
Come along and lets maximise your customer’s willingness to pay.
Now let’s get back to Greg’s talk on how to use GenAI in Product Management!
“GenAI is going to reduce the number of PMs needed in the market. Learn to leverage it or be left behind” - Greg Prickril
This 💡Product Circle⭕ Chat was run on the 15 January 2025 at 6pm (Sydney Australia time) with Greg Prickril Recording below👇🏼
💡 GenAI Implications for PMs
Efficiency vs. Job Security: As GenAI increases PM productivity, companies may reduce the number of PMs required, with some replacing PMs altogether.
Skills to Future-Proof Careers: PMs should develop deep commercial acumen, understand business models, and demonstrate clear value-add to the organisation's bottom line.
Strategic Focus: Success in the age of GenAI lies in building viable businesses, not just delivering products.
“If there’s not a straight line between your effort and maintaining a viable business, you are vulnerable.” - Greg Prickril
💹The GenAI Opportunity
Democratisation of Technology: GenAI will enable non-technical individuals to create functional prototypes and even deploy products independently, leading to a flood of new ideas—both good and bad.
PMs’ Strategic Role: As delivery becomes commoditised, PMs must focus on strategy, differentiation, and ensuring product viability.
“Generative AI is going to be way more disruptive than the internet because it’s going to happen many orders of magnitude faster.” - Greg Prickril
🤖 How Product Managers Should Work with ChatGPT
Greg Prickril advocates for a conversational and iterative approach rather than relying on overly long, complex prompts. He believes in leveraging ChatGPT as a dynamic tool to augment work rather than a one-and-done solution. Here’s how he suggests using ChatGPT effectively:
1. Contextual Input and Frameworks
Provide High-Level Context: Instead of overloading a prompt with too much detail, Greg gives ChatGPT a concise context or framework (e.g., a Product Decision Canvas or Problem Profile) and builds from there.
Framework-Driven Conversations: Using structured models ensures the interaction stays focused and relevant, while ChatGPT acts as a tool to populate and iterate on the framework.
2. Emphasising Conversation
Interactive Dialogue: Greg treats ChatGPT as a collaborative partner, engaging in a back-and-forth conversation to refine ideas and improve outputs.
Example: After receiving a response, he might ask, “Can you rephrase this for a technical audience?” or “What alternative solutions could we explore?”
Dynamic Problem-Solving: By asking follow-up questions or requesting clarification, he maximises the AI's potential to uncover insights he may not have initially considered.
3. Favouring Short Prompts Over Long Prompts
Start Simple: Greg rarely writes prompts longer than 10 words, keeping the interaction straightforward and manageable.
Iterate and Refine: Instead of creating a long, detailed prompt, he starts with a basic question or instruction, reviews the response, and refines his query based on the initial output.
Example: Start with “Create a draft business model for X,” then follow up with, “Add more detail about key risks.”
Agility Over Complexity: Long prompts can be overly prescriptive or unwieldy. Short, targeted prompts allow for flexibility and exploration.
4. Augmentation, Not Replacement
AI as a Superpower: Greg views ChatGPT as a way to augment human productivity and creativity, particularly in repetitive or time-consuming tasks.
Review and Validate: He never accepts the AI’s responses as final. Instead, he critically reviews the output, refining and validating it with his own expertise. This is where experienced Product Managers can shine.
5. Adapting to Specific Tasks
Custom GPTs for Specialised Needs: Greg builds custom GPTs tailored to specific workflows or domains (e.g., creating business models, analysing risks, or crafting plans). During the session he mentioned that he had created over 50 custom GPTs to assist with various tasks in his work, including product discovery, business analysis, and more. These GPTs are pre-trained on his frameworks and methodologies.
Generalised vs. Specific Use Cases: While ChatGPT excels in generalised problem-solving, his custom GPTs focus on repeatable, domain-specific tasks.
“Prepare yourself for a wave of really shitty software. For the next 5 years, we’re going to be flooded with really bad ideas. A lot of people, like my mum are going to decide - I’m going to build that receipe app I’ve always wanted to build and it’s going to be garbage.” - Greg Prickril
💥 TL;DR
When working with ChatGPT, focus on:
Empowerment, Not Dependence: ChatGPT should empower users to work smarter and faster while keeping them in control of the process.
Conversational AI Mastery: Users should think of ChatGPT interactions as a journey rather than a single step, enabling them to refine and optimise results through an ongoing dialogue.
Product Circle Chat 36 - Topic
Topic: Gen AI in Product Management
GenAI is poised to fundamentally disrupt product development in the next few years. As product teams scramble to understand what it means to their products, they need to begin developing a deep understanding of this technology and it the opportunities it creates. In this session, we’ll begin exploring how GenAI can immediately make you more effective as a PM. We’ll do “blitz” product discovery on an idea that is suggested by participants, including market research, user research planning, and more.
Product Circle Chat 36 - Video
Product Circle Chat 36 - Speaker
Greg Prickril is a Product Leader with over 20 years experience helping global B2B companies deliver better products through consulting, teaching, coaching, and workshops. With a career across US and EU at IBM, Microsoft, and SAP, he founded Prickril Consulting in 2015 to focus on product strategy, portfolio management, and organisational alignment.
A passionate advocate for Generative AI (GenAI) in product management, Greg equips teams to harness its power for smarter decisions and innovation. Based in Heidelberg, Germany, Greg works with organizations worldwide to build strategic capabilities and achieve lasting impact.
You can follow Greg on Linkedin or his website Prickril Consulting.
🎁 Gifts
Like everyone who attends Product Circle Chat Live, Greg had great gifts. He shared his Product Decision Canvas Drafter (custom GPT) that he used in the session.
Product Circle Chat - Q&A
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❓ Still have Questions?
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Are you new to Product Management and want to learn from me?
I created a Course. For people new to Product Management.
Aligned it with the Learning Outcomes created by Product greats like Jeff Patton and others. Had it certified by the globally recognised ICAgile.
Choose to spend 2 days learning from me - either face to face or via Zoom - with ICAgile Certified Professional in Product Management (ICP-PDM).
And if you’re looking for a sneaky discount, send me an email at irene@phronesisadvisory.com