“Leadership is the capacity to translate vision into reality”, as apt as a statement by Warren Bennis, our leader-of-the- contemporary generation, attests it for real.
How can AI in HR help you?
August 11, 2020
AI in HR: The need of the hour
Vimal Malhotra, Vice President – Sterlite Technologies enlightens us on how technology has been the very essence of growth in all dimensions of life. He is a pioneer with an enormous experience of 20 years in the Human Resource industry and would edify us on how Artificial Intelligence has opened new gates of opportunities for millennials and Gen-Z.
The Impact of Artificial Intelligence on Jobs and Skills
“AI” to be or not to be. As Shakespearean as it sounds, it is. I was walking through the gates of a shopping complex as I realised how vividly spread Artificial Intelligence actually is. From gates to vending machines, AI is evident in small processes like automatic doors to data analysis.
We live in a world where everyone is constantly connected. We are unconsciously producing 2.5 quintillion bytes of data each day (Source – Forbes). Human resources being no exception. The World Economic Forum projects that 75 million current jobs will be displaced as artificial intelligence takes over more routine aspects of work.
However, 133 million new jobs will be created, and skills in both emotional intelligence and technical intelligence, like technology design and programming, will be important.
Partnering for Profitability: HR’s
engagement with Artificial Intelligence
The human-technology dynamic is evolving. Organizations should adopt tech-driven processes across levels for better integration. It is only time till we realise we are madly surrounded by automated processes, isn’t it?
Perhaps, the modern HR relies more than ever on technology for automation, analytics and predictive capabilities. Companies that implement people analytics are 56% more profitable than others. More than 70% of progressive organizations say they consider people analytics to be a high priority.
Advantages and Concerns Surrounding AI in HR
In HR, automation aids functions like payroll, record-keeping, and resume capture, leveraging technology for advantage. With the Artificial Intelligence boom, data analysis has dramatically revolutionised. Experts from Harvard, MIT, and Stanford reveal surging AI funding in Europe and Asia, notably China, Japan, and South Korea.
Although, looking at the other side of the coin, there are notable concerns and uncertainty regarding the forthcoming impact of A.I. on employment and the workforce.
On deciding Priorities:
Time is driving people more than the cost. It will only be bizarre to sacrifice a minute for a penny, but NOT vice versa. There are two conflicting outcomes on which further research needs to be conducted. On one hand, introduction of AI will create new hybrid roles, where humans enable machines, and AI augments human capabilities while saving a lot of time and workforce. On the other hand, jobs in the manufacturing, retail, telemarketing, and data entry space are most likely to shrink due to AI expansion. Amidst all these advancements and developments, the question we need to ponder upon is, “How will HR as a function adapt to these evolving scenarios to ensure its survival? “
I think, looking at the dark side of the technology boom is a pessimistic approach to a promising future. There must not be a fear of the idea of technology taking over because what a human brain can achieve is way past what a machine can do. It complements the human effort, after all it’s the human input that the machine processes to curate an output. Without it, it’ll only be insane to expect flaring results and process advancements.
AI is not the destination, it is an enabler to fully approach talent and business sustainability and leverage data skills at the fingertips.
This blog might interest you: Team building through effective communication
The essence of any business is to assess customers’ need early and provide them a solution that becomes a part of their lives.
In conversation with Govind Ram, group CEO of Carbon, on How Focusing on People is Integral to Organization Growth
Building organization capability through engaging people has become a widely talked about topic and subject of great significance in fast growing companies.