Growing need of artificial intelligence in Human Resource Management

The  use of Artificial Intelligence (AI) technologies is transforming the industrial sectors to an appreciable level. McKinsey’s latest forecast of AI’s impact on the global economy is that AI will generate $13 trillion in global economic activity by 2030.

The HR department is not left behind the race. The HR professionals today are focusing to optimize the combination of human and automated work to gain a simple, seamless, and intuitive work environment. It provides them time for creativity, intelligence, and empathy to deliver an enhanced candidate and employee experience.

Impact of Artificial Intelligence in Human Resource Management

The impact of AI is expanding to a greater extent in human resource management. It starts from the recruitment process to exit process of an employee that includes training, engagement, perks, records, and so forth. A few of the influences are highlighted here.

Personalized experience

The influence of AI is more felt in the talent acquisition processes like screening of prospective candidates, recording and maintaining the database, automating interview schedules, sending a message, answering job seekers’ queries, and more. It helps in preliminary mundane tasks.

The results are significant, measurable, and immediate. It reduces the hiring time and increases productivity for HR professionals. The team is left with time for higher-value work like sourcing, recruitment marketing, employee engagement, and hiring managers.

For instance, The Job Intelligence Maestro (JIM) for DBS Talent Acquisition Team reduced the screening time from 32 minutes to 8 minutes per candidate.

AI-backed programs introduce the new employee to job profile, new hire information like reporting authority, team members, task assignment, administrative tasks, policies, and almost all first-hand information through an app or laptop on his/her first day.

Workforce management decisions

Some of the areas (apart from recruitment) where AI is creating an impact include HR strategy and employee management, analyse company policies and practices, manage payrolls, automate workforce, investigate corporate compliance, litigation strategy, analyse success, and other related programs. The technical-minded HR personnel can readily apply technology to HR functions, learning, and development applications.

Smart people analytics

Leveraging big data tracks employee’s performance and sentiment as well. AI tracks the employees’ activities like browsing, emails, projects, and other tasks for a brief period. It can single out heading out employees and report to administration. This helps the organization to improvise engagement and retention strategies.

Conclusion

AI-based HR applications raise employee productivity. It has the ability to analyse, predict, diagnose and become a more capable resource while focusing on employee needs and outcomes.

However, there are challenges like privacy, talent gap, maintenance, integration capabilities, or limited proven applications. But exercising proper caution while deploying AI services will solve unnecessary issues. AI systems must be managed carefully by finding reliable learning data sets, using the right implementation approach, seeking clarity, eliminating bias, and considering unintentional consequences.