The Future Of Work: The Intersection Of Artificial Intelligence And Human Resources
The Future Of Work: The Intersection Of Artificial Intelligence And Human Resources Artificial Intelligence (AI) is an ever-more present innovation in our society. From domestic gadgets to life-saving healthcare technology, AI is continuously evolving. Investments are increasing yearly for this incredibly adaptable machinery brain. Businesses are the most interested in AI and big data to expand commerce and save time and money wherever possible. Surprisingly, AI’s potential uses are steadily growing into the more “human” sectors of applications. Sure, the lack of consciousness, critical thinking, and empathy are firm limitations of the AI. Nonetheless, its powerful computing power proves an excellent tool for Human Resources (HR) representatives. Just like autonomous driving, the AI does the job, but the driver has the final say. In this case, the driver is the Chief Human Resources Officer. AI does the grunt work, provides comprehensive data analysis, and the CHRO is left to make a highly educated choice. To hire or not to hire? AI has the answer! Growing investments
AI investments are skyrocketing. Some 64.8% of firms are investing more than $50 million in 2020. In 2018, only 39.7% of companies invested over $50 million. In just two years, the number of investors has almost doubled.
Businesses know what’s up; that’s why they’re racing to put their hard-earned cash right into the opportunity of tech. Chris Taylor, CHRO of Best Buy Canada, says it straight: AI research and implementation in human capital management for the future is a “mandatory investment.”
Artificial intelligence in HR has many uses, but one of the primary applications represent low-risk, repetitive, and trifling tasks. Sending invitations, rejection letters, contractual management, and so on are resource-consuming. Not only does the enterprise save time and money, but it allows humans to focus on more meaningful jobs while machines aid in bureaucracy.
In an age of fast and ultrafast information, promptness is a highly-desired trait to all of us. It’s now or never; that’s why companies invest in AI chatbots to reach instant customer service. For a better perspective, over 22% of millennials expect an answer within 10 minutes of questioning a consumer brand.
Telephone operators are still competitive, but they cost more and aren’t available 24/7. Even more, because chatbots are instant, they have a higher conversion rate for unsure potential clients. Clearly, no chatbot can compete with an experienced salesperson. However, the bots can take care of FAQ. In the meantime, humans can focus on unique requests, high-risk sales, and other particularities.
Smart working is an increasing trend, with 1 in 4 Americans expected to work from home by the end of 2021 (around 39 million people). Furthermore, 50% of the global population is projected to work remotely for at least 2.5 hours per week. New work norms require adaptable HR systems to accustom to such trends. AI-powered HR remote offices are perfect innovations for talent acquisition, on-boarding, contractual practices, and so on. Even traditional companies could benefit from an AI-powered HR office for a smoother administration, less bureaucracy, and faster problem-solving.
Diminishing human bias
Each of us is inherently biased towards one thing or another. Subconsciously, different experiences and encounters shape the way we think about others. Sure, HR representatives are trained to use critical thinking and go beyond personal impulses. However, “gut feelings” could still negatively influence an interview and cost the company money. AI systems help reduce or even eliminate biases based on ethnicity, appearance, language use, and much more. Algorithms may find hidden “treasures” among candidates screened-out by human prejudice. Or vice versa, AI analytics could highlight concealed flaws in an ideal candidate pool. Data-driven assessments are objective criteria that focus on education, career results, and in-demand skills.
Scoring valuable potential employees and integrating them into the team is enhanced by AI software such as Talla or Intercom. Similar intelligent apps act as multilateral assistants and aid in the hiring and training process. Multiple data inputs shape the best candidate for the particular necessities of a job/company.
AI-powered software can provide the interview, skillset test, and exam grading. As stated before, AI apps aren’t entirely autonomous; they’ll ultimately assist mid-level HR representatives in making the final decision. A wide-ranging recruiting AI support saves numerous resources and time while providing comprehensive intel to the CHROs.
Keeping employees for a long time is a priority for most firms. It saves taxes and allows the individual to grow together with the company. AI systems examine the larger part of an employee’s work activity: emails, internet surfing, keystrokes, tone, mood, etc. The AI then compares the changes to a baseline pattern and deducts if the worker’s happy or unsatisfied. Not only can the software prevent a swift exit through the back door, but it can also avert additional problems that other workers might be facing. AI systems’ somewhat invasive nature might raise a few eyebrows, but the method isn’t new; it just evolved through AI. For instance, traditional focus and anti-distraction apps also monitored the worker’s computer activity at work. Yet traditional apps didn’t examine, but only delivered a simple report. With the use of AI, new-age apps can put things together to create a bigger picture.
AI network systems are connected in a company and could suggest the best work circumstances for a worker. It examines the employee background and recommends coworker pairing for the best productivity. Also, the AI could propose changes to the work environment that best suits a particular individual. For instance, construction workers would like efficient cold insulation, dissertation services might prefer active sitting chairs, etc.
Productivity is correlated heavily with the work environment. Employees that are satisfied with the workplace are bound to produce better results. Temperature, humidity, lighting, noise, air quality are essential variables. AI systems are capable of tweaking the workplace for the best results.
For some sectors, employee referrals are vital. Nonetheless, conventional recommendations are time-consuming, bureaucratic, and, most of the time, unverifiable. Soon, AI systems could cross-communicate from different companies; thus, referral validation will be almost instant. HR teams will verify the worker’s past results without calling past employers or reading letters. More so, classic referrals are frequently inaccurate or don’t fully represent past productivity – not anymore. AI referrals are a win-win for both parties and save valuable time. The employer knows what he gets, and the employee receives a fast answer to his candidacy.
Frequent Asked Questions (FAQ) is a ripe area for AI. Currently, FAQ assistance for clients is one of the primary uses for AI chatbots. Let’s take as an example chatbot Jane from Loka. This intelligent software answers a wide-range of inquiries both as a service for clients and employees. Here are some typical questions it gets:
“Are we off on Labor Day?”
“What are my vision benefits?”
“How can I do my assignment faster?”
“Can you tell me what “X” means on my contract?”
Jane’s database grows as time goes by. Even more, Jane is programmed to encourage company benefits proactively to employees. Bobby Mukherjee is the CEO of Loka and says that companies are having a hard time promoting benefit usage. And here’s where Jane steps in with pop-up reminders such as:
“Hey, have you tried our free gym membership starting 7:00 pm today?”
“Don’t forget, we have swimming lessons every Friday at 8:00 pm!”
“When was your last dental check-up? ”
AI-powered systems such as chatbots and smart video surveillance will drastically lower security and work-safety hazards. Mainly, apps such as Microsoft Power BI can create workplace heatmaps and scan footpaths, crowds, unsafe behavior, potential threats or security issues, and much more. Intelligent chatbots can foresee administrative problems from internal data points such as message systems. For instance, if workers are continually asking about late payments, then there has to be a systematic problem in the salary system. This way, HR experts can resolve the issue before it grows into a more significant one.
Senior Director of Kronos, Jayson Saba, believes that AI-assisted HR teams can detect and deter potential health risks, fatigue, and demoralization. Jayson continued by saying that AI software could dynamically manage schedules, shift swaps, vacations, and time-offs to boost overall productivity.
Education, instruction, and training will increase immensely in the next decade. AI apps are developed to train workers in vast arrays of industries. Everything from bus driving to firefighter training will be assisted and augmented through the use of AI. Adaptability and real-life simulation are the main focus of new-age AI systems. Some of the training programs are fully remote and autonomous just through the use of a virtual headset. AI-designed 3D printed tests will train dexterity, hazardous material manipulation, and other specific physical tasks. Similar AI simulations will revolutionize safety training at a fraction of the cost.
AI tech is making incredible strides in business and HR, with almost double the investments in the last couple of years. Instant chatbots are taking the load off HR experts by automating minor tasks, FAQ, and allowing remote work management. Objective AI analytics help reduce human bias and secure valid referrals. AI-assisted systems help out hiring procedures, employee retention, adequate pairing, and training. Smart video surveillance enhances workplace security, while chatbots may detect and prevent over-fatigue.