Benefits of AI in HR for Future

Artificial Intelligence has presented itself as an opportunity for the HR to succeed in becoming the pioneer for a technology.From recruitment to employee experience, and talent management, AI has the potential to transform HR. Until recently, the primary benefits of HR technology were to improve efficiency and drive cost-savings by automating repetitive tasks.Today, smarter technologies are enabling HR teams to solve critical business challenges, drive exponential performance improvements and even impact larger business outcomes and profitability. AI is fueling HR’s transition from administrative to strategic to mission critical. Technology has always been a part of achieving business outcomes, driving greater efficiency and optimization. Artificial intelligence is about to change how humans interact with technology for the better. It has been observed that 50% of workers are currently using some form of AI at work, compared to 32% last year, with workers in some countries adopting AI over 2x more than others.

Artificial Intelligence is developing at an instantaneous rate in the world of technology and innovation. AI is found in almost every sector and has become part of how these sectors operate. Healthcare, banking, retail, E-commerce, real-estate, entertainment and gaming are some major industries where AI applications have taken pace. 

Such is the HR sector where AI has become handy and is used to carry out extensive operations. It analyzes tonnes of data to generate information and present results in a short span of time. It has been quite a while since AI was introduced in HR. It has shown great potential and is proving its competency in the industry.

The HR professionals and AI technology are the best duo in the department who offer their services to deliver good results. AI helps in developing an effective workflow which boosts overall productivity. AI has been working for HR technically in numerous forms like- chatbots, video interview platforms and advertisement crafting tools. But what are the major qualities it serves to HR?

1. STREAMLINED PROCESS: Recruitment of new employees is a very struggling process if AI takes no part. Analyzing profiles of a large number of applicants manually is an exhausting task and at times the results delivered do not live up to expectations. Companies that do not have an HR department usually hire recruitment service providers which eat-up a lot of their time and money. AI makes the process streamlined and easier by gathering and analyzing a lot of data with efficiency and effectiveness and in a short span of time. This saves your worthy time and hard-earned money.
2. TAKES EMPLOYEE ENGAGEMENT TO A GREAT HIGH: According to a survey, about 78% say that candidate experience shows how an employee is treated at the firm or an organisation he/she works at. The HR department is generally busy with piles of work and tasks which result in poor candidate engagement. Here, chatbots and virtual assistants are of huge help as they give candidates a medium to interact with us which eventually results in a better candidate experience.
3. NO DISCRIMINATION: Usually the recruitment process can’t be absolutely fair due to a huge role of human bias. AI removes all scope of discrimination and stereotypes and analyzes a candidate on the basis of his/her competency, proficiency and skillset, while in the manual process one’s gender, cast, race etc are taken into consideration at times. Another is the chatbot function which uses textual mode of interaction and makes engagement easier with the candidate. Human resource team also uses AI to get deep insights about source candidates.

There is another aspect which is a challenge to HR and that is talent management. Employee retention is a continuing challenge for employers who want to engage their workforce.One area continuing to receive focus is talent management,driven by a workplace where five generations work side-by-side and that’s becoming increasingly purpose driven. Still, many organizations have yet to fully embrace the opportunity ofmodern talent management and continue to experience high turnover due to passive career development, traditional succession planning, rigid and undifferentiated learning and compensation expectations. AI can enable organizations to realize the full potential of talent management by creating an environment that meets employee needs and improves retention.

Such technology can personalize career development, optimize succession planning, close skills gaps, and steer compensation strategy supporting managers, leaders, and managers in developing and deploying talent, which in turn creates strategic advantages for the business. For example, AI can equip an employee with intelligent suggestions for courses or reading that will aid in day-to-day job duties. AI collects insights around each employee’s career progression and deliver it in a personalized way. Leaders mustwork strategically and seek to understand competitor trends so they can meet employee expectations and keep top talent. Employees from different departments often need to learntogether and from each other, and AI can help them pair up.