Artificial Intelligence (AI) is transforming every industry. It is influencing the HR function too, with companies using AI to perform high-volume hiring operations. It is time that businesses get their workforce ready for AI. One of the major reasons for HR to prefer AI lies in its transformative benefits. For instance, companies that have successfully adopted AI report a significant fall in time to hire. AI helps in quickly screening hundreds of resumes and finding the best candidates based on historical hiring decisions. Not only that, but AI also improves the quality of selected hires by identifying the factors and traits that make someone a successful or unsuccessful employee in a role. Whether sourcing ideal candidates, rediscovering talent or identifying performers, AI plays an important role and helps recruiters prepare for more value-add tasks and other HR initiatives.
HR has a major role to play in preparing the workforce for the shift in workplace culture ushered in by artificial intelligence (AI), cognitive computing, machine learning, and virtual reality. How best to leverage this new business reality? To get the perspective right in the context of talent management and organizational performance, it is important to realize the potential these technologies—especially, AI—have in reducing risk and driving decision-making. Here we list the potential impact of AI in driving business HR transformation:
Personalized learning: Employee data relating to learning experiences and behaviors provide the necessary fodder for AI to personalize corporate learning. By parsing and analyzing employee interactions, systems will formulate training programs efficiently, ensuring that training outcomes are more effective.
Automated workflows: AI is poised to automate hiring processes like interview scheduling, employee performance reviews, employee onboarding, and even answering HR-related questions with the use of bots.
Better prediction models: AI will assist HR in helping get its act right—from predicting future turnover rates and employee engagement levels to addressing concerns about communications, projects, and other issues that would usually take years to surface.
Reduced hiring biases: AI can disregard any pre-conditioned biases that might play a subconscious role in hiring decisions. In other words, using AI can reduce hiring bias and help create a more culturally diverse workplace.
Improved employee engagement: AI can enrich relationships within an organization by taking care of tasks such as streamlining employee-related work, scheduling meetings, coaching employees, and eliminating the chance of human error.
The advent of AI has created an opportunity to increase overall productivity in unprecedented ways. With real-time analytic insights, AI helps organizations to find creative ways to increase productivity. AI taking over HR functional roles signals a symbiotic working partnership between humans and systems. In fact, we have reached an inflection point in the evolution of technology where businesses can no longer afford to delay investment in retooling their organizations to maximize the returns from this symbiotic relationship.