The Potential Value Of AI
According to a recent article appearing on the Industry Wired website, HR professionals report spending 14 hours each week on average performing repetitious tasks. These tasks include payroll, tracking applicants, onboarding new hires, background checks, and other functions that are time-consuming.
Artificial intelligence or AI has shown great promise in many industries, including human resources, to lessen the workload and perform tasks with greater accuracy. According to a survey and study in 2017 conducted by IBM of 6000 executives, 66 indicated that they saw great value in embracing new AI technologies. According to the same study, however, approximately half of HR professionals showed apprehension over AI because of how it may affect or even decrease their department’s roles within their organization.
In a recent McKinsey study, industry analysts estimate that AI has the potential to deliver an increased economic output of approximately $13 trillion and a 1.3 percent GDP globally in the next decade.
What AI Has to Offer HR
Improving employee experience is one of the top concerns of HR executives, according to a recent study conducted by DeLoite. While 88% of those surveyed considered improved employee experience to be of paramount importance, just 22% of those surveyed felt that they were excellent in providing that service.
One way to accomplish this is through the use of AI in the form of chatbots to answer workers’ most commonly asked questions. This and other AI solutions show great promise in helping workers solve problems by directing them to the appropriate resources.
Other functions of AI in the sphere of human resources include:
- Selecting the right candidate for open job positions without bias
- The ability to perform repetitive tasks quicker and with greater accuracy via data-based decision-making processes.
- Increase productivity in HR departments by streamlining the hiring, onboarding and other processes that are performed manually
Some HR professionals might fear losing their jobs to AI. The current trend of integrating technology into HR departments can provide higher value to their organization by doing their jobs more accurately and efficiently.