Seating on my balcony, admiring the rain, realizing I have a webinar to attend at 4 PM, I spoke, “Hey Siri, what’s the time?” and I realized the importance of AI in our daily life if we reflect on the day-to-day activities we see ourselves using Google Now, Amazon Alexa, Siri, and Cortona as our assistants.
“Will robots inherit the earth? Yes, but they will be our children”- Marvin Monsky.
Artificial Intelligence, in simple words, can be defined as a tool designed to work as trained by a human. Artificial intelligence is impacting our world for decades, but today when the global Covid-19 compounds the world of technology, its presence is more significant than ever. There is an ever-growing need for all companies to ponder upon the utilization of artificial intelligence for analyzing, predicting, diagnosing, and engaging their employees.
The majority of the companies still lag in integrating their Human resources practices to Artificial intelligence. According to a survey done by IBM, 60% of CEOs think that AI can play a significant role in HR. According to Bersin by Deloitte, 33% of employees feel that their job will be augmented due to AI. Also, according to the latest forecast by Mckency, AI will achieve economic activity of $13 trillion by 2030.
AI integration with human resources will make the organization all the more powerful. It can be used to perform the various function of HR like, recruitment, selection, onboarding, performance management, communication, etc.
Let’s ponder over a few of the HR areas where Artificial intelligence can be used effectively,
Smart recruitment:
AI can be used in intelligent digital resume screening, video interviewing tools, and conversational chatbots. According to a survey by Linkedin, a recruiter spends around 23 hours on resume screening for a single hire. Also, a few times, the recruiter might put in Their personal biases and select the wrong resume or surpasses an excellent resume. AI will help the recruiter to gather more data, analyze and diagnose the suitable candidates from a big pool of candidates using a unique algorithm. It saves the employees valuable time as the AI can explore extensive data just in few seconds. Some of the AI software used during recruitment, e.g., Chatbots like Mya, interact and add details to the candidate’s resume and assess candidates’ responses using neutral language processing.
Leveraging employee engagement:
As claimed by Gallup’s State of the Global Workplace report, 85 % of the employees are actively disengaged in the company, which may be due to lack of time, lack of motivation, lack of reward & recognition, etc. The technology is coming forward with software that allows the employer to connect to the employees with just a few clicks effortlessly. AI chatbots have made onboarding certainly easy. AI can be used in learning and development, data analyses, performance management systems, compensation, and benefits to help the employee engage. It can capture the daily experience of the employees.
Transforming learning and development:
With the changing technology and in times of pandemic, the L&D professional has to keep up with the changing needs of the employees in terms of optimized experience and outcomes, learning strategies and methodologies, etc. AI can help the organization to gather colossal data that can be used to create optimized learning and development curriculums. Gone are the days when all the workforce was comfortable using the same L&D content and methodologies. AI can help the organization to create customized content, personalized learning experience online assessment. Conversational AI can help the workers in predicting their learning progress.
Powering Workforce analytics
A considerable amount of data at your fingertips makes workforce analytics all the more powerful. The data generated can be used in recruitment, optimized learning, and development strategies, knowing the organization’s trends, employee retention, performance management, and many more.
Employee retention
Nowadays, organizations use algorithms to analyze the risk of leaving employees. The software can nowadays predict the intention of the employees to leave the organization even before their consciously formed behavior by gauzing their activities, performance changes, change in interest, and other such activities. Also, AI helps create a better work-life balance for the employees through various customized scheduling. This system also allows self-scheduling where the employees pick the working shifts that suit them best.
Reducing human Biases
Human intervention always leads to conscious and unconscious biases, which can be eliminated using automation in HR systems. We often observe that the recruiter might spend lots of time interviewing the first few candidates and then rush at the end, which makes the recruiter biased towards the first few candidates due to a large amount of information gathered. It can be avoided by making the process faster and utilizing AI for scheduling the interviews. Humans are pronto biases like; Confirmation bias, Endowment effect, Halo effect, Negativity biases, functional and fixedness, etc. All these biases can be eliminated by making data-driven decisions.
AI crafts lots of opportunities in HR, not only in the fields mentioned above but others like performance management, compensation and benefits, screening, and many more. There are many building blocks for AI technology like chatbots, conversational AI, cloud solutions, automated machine learning, etc.
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