Are you moving with the AI wave, or against it? AI for Business and HR
We already know it is important to remain up to date with advances in technology to remain competitive. Artificial Intelligence (AI) is at the forefront of the tech world, in fact it contributed £3.7 billion to the economy in 2022.…
Blog1st Sep 2023
We already know it is important to remain up to date with advances in technology to remain competitive. Artificial Intelligence (AI) is at the forefront of the tech world, in fact it contributed £3.7 billion to the economy in 2022.
You may be familiar with buzz words such as machine learning, algorithms, automation, ChatGPT… but what is AI? AI refers to the simulation of human intelligence processes by machines, performing tasks which involves understanding language, recognising patterns, making decisions, learning from experience, and solving problems. How can it help business and HR?
Business leaders are making use of AI to improve their operations. Around one in six UK organisations, totalling 432,000, embraced at least one AI technology in 2022 – according to government research. The Forbes Advisor Survey found that the most popular uses of AI are in the areas of customer service, cybersecurity and fraud management, and digital personal assistants. AI can be utilised to streamline and enhance various aspects of HR across the employee life cycle, for example:
Recruitment & Onboarding • Job description and interview question generators. • Screening software to automatically rank, grade and shortlist strongest candidates. • Chatbots can engage with candidates, answer their questions, and schedule interviews. • Automated delivery of forms, documents, and training materials to new employees. Engagement and Feedback • AI-powered can analyse employee satisfaction and engagement based on feedback and sentiment from various sources. • AI-powered tools can provide instant feedback to employees on their work, helping them understand their strengths and areas for improvement. • AI tools can assist remote workers by providing insights into their work patterns, collaboration behaviours. Performance Management • Algorithms can analyse performance data to identify trends, patterns, and areas of improvement for individual employees and teams. • AI can analyse performance data to identify skill gaps and training needs for employees. • AI can assess employees' performance, skills, and potential to identify high-potential employees for future leadership roles, contributing to effective succession planning. Learning and Development • Virtual reality (VR) and augmented reality (AR) can be used to simulate real-life scenarios for training purposes. • AI can recommend learning resources, courses, and materials based on an employee's interests, job role, and skill gaps. • AI can provide real-time translation of training materials and resources, making learning accessible to employees regardless of their native language. Benefits and Payroll Administration • Automation can handle tasks such as benefits enrolment, leave requests, and payroll processing. • Chatbots can assist employees with questions related to benefits, taxes, and pay. The benefits that AI can have on business and HR are huge, however, the implementation of such technologies requires careful planning, monitoring and consideration. It is important to understand ethical implications and risks, such as: • Loss of Human Touch especially when dealing with issues such as grievances, mental health concerns, and career development. Overreliance on AI could lead to a loss of empathy in interactions. The human element is critical in HR – it’s in the name after all!
• AI can learn human biases because it is trained to find patterns in previous behaviours. For example, if human bias is already in your recruitment process, this could be learned by AI if developed without due diligence. This could result in unequal treatment for certain groups of employees.
• Data protection risks arise where AI collects, analyses and processes personal data, which could lead to breaches of privacy and potential misuse of sensitive information. See a case study about Samsung, where IP was leaked via the use of AI chatbots.
• Reliability and Accountability can be challenging where an AI system makes a mistake or produces a biased decision.
• Lack of Transparency where algorithms are difficult to interpret, making it difficult to understand how they arrive at their decisions. This can hinder business leaders or HR professionals in justifying or explaining AI-driven decisions to employees, potentially leading to mistrust or even legal implications.
There is widespread fear that AI will ‘take your job’. It might take some parts of your job, in fact is estimated that around 15% of the hours worked globally could be automated by 2030. However, it is important to understand that where some tasks are automated, work in those occupations may not necessarily decline, rather workers will perform new tasks and the use of AI will simply enhance existing tasks (or new ones).
Is your business going to move with the AI wave, or go against it?
At AAB People we continue to work with our clients to understand how to effectively build AI into their people management strategies. The outcome always depends on what our clients are ultimately trying to achieve.
If you are considering the use of AI, or simply want to find out more, contact Frances Wood, Tyler Stevens or your usual AAB People advisor at firstname.lastname@example.org