The Future Of Work: Embracing AI With An HR Perspective

AI's impact on the global economy and the job market

Artificial intelligence is an emerging technology that is changing the way we live and work. The global economy is projected to be impacted in various ways as AI becomes more popular. While PwC's Global Artificial Intelligence Study predicted that AI would enhance global GDP by 26%. As per a report released by apna.co, a notable proportion of young professionals are eager to adopt AI upskilling, acknowledging its vital significance in remaining pertinent in today's job market. Approximately 80% of the participants in the survey expressed the belief that gaining proficiency in AI skills could offer them a competitive edge and unlock promising prospects for employment. 

AI will likely evolve to the point where, at least for routine entry-level tasks, it will be able to not just shortlist candidates but also choose, automatically employ, and onboard the best candidate. This is but one illustration of what scaled AI is capable of. Nearly every aspect of HR is impacted by AI, including performance management, data-related tasks, and employee engagement.

The future of AI is likely to be shaped by the following trends:

AI-Driven Hiring Will Replace Traditional Hiring Practices

The evaluation of resumes remains the most time-consuming task for any HR department during the hiring process. The most challenging part of hiring is choosing from among hundreds of resumes the ideal individual with the necessary skills and expertise. These tedious manual screening procedures can be automated, at least in part, using AI. The system may shortlist the resumes that are most pertinent to each post after automatically screening resumes using machine learning (ML) techniques. Without a doubt, standardizing job matching will save HR professionals time and improve the caliber of their recruiting. 

The Majority of Employee Onboarding Procedures Will Be Automated

Managing onboarding in large, distributed organizations can be time-consuming and repetitive. AI offers a solution by automating tasks like document checking, orientation, and administrative activities, making the process more efficient and personalized, especially in remote work settings.

AI Will Be Integrated Into Learning and Development (L&D) Platforms

Employee training and development is another function that can benefit greatly from AI technology. AI tools and AI-based software can be used to create and personalize learning programs for individuals based on their specific needs and competencies, allowing employees to learn more efficiently and improve their skills. 

As AI Becomes More Prevalent, HR Directors Will Need to Develop Distinctive, High-Quality Skills

According to the World Economic Forum's Future of Jobs Report, the demand for uniquely human qualities will rise gradually. According to the World Economic Forum, the automation of ordinary operations and the application of AI will result in the loss of 75 million manual jobs. However, there will be 133 million new jobs created, and emotional and scientific/technical intelligence, as well as technological design and programming, will be essential. Along with the benefits of artificial intelligence in human resources, organizations will need to consider these future requirements.

HR Chatbots Will Become More Widespread

Employee engagement is a science in and of itself, and monitoring and measuring employee mood on a regular basis is a component of it. AI-powered chatbots may ensure that the employee engagement process is continuous and fruitful by using insights from sentiment analysis of data around employee requests. Chatbots can be almost realistic, human-like, and always available, and they can engage the user in personalized interactions. These conversations can then be reviewed and used to address the employee's specific challenges, desires, and needs.  

HR is being transformed by automation and AI, and we are at the forefront of this transformation. We can unleash a future where HR is strategic, organizations succeed, and employees thrive by embracing the impact of automation and AI in a thoughtful and ethical manner. Prepare to embrace the future of work, learn new skills, and become a catalyst for positive change. We can co-create a future in which automation and AI enable us to accomplish greatness.

In conclusion, the adoption of HR technology in organizations is inevitable, as it has the potential to rapidly transform crucial HR functions. Using current and historical data, predictive analytics offer valuable insights into future possibilities. Taking it a step further, prescriptive analytics propose multiple solutions to address issues, highlighting their potential consequences. This empowers HR Business Leaders to proactively seek innovative remedies. As HR departments embrace technology's impact, they can ensure peak productivity throughout the financial year. With the aid of AI and other emerging technologies, HR management is poised to evolve and successfully tackle the challenges of the future.

Lokesh Nigam is the Co-Founder and Director of Kognoz Research and Consulting. With a distinguished career spanning decades, Mr. Nigam has played a pivotal role in shaping the landscape of human resources and talent management in India.