How Artificial Intelligence Would Revolutionize HR Industry?
For most of the businesses, the role of data in planning, operations and strategy is not just about competitive differentiator, but more about competitive necessity to survive in today’s cutthroat business ecosystem.
Computer and data driven (predictive) analytics are extensively powering most of the critical business decisions in finance, marketing, customer support and sales. However, data analytics today doesn’t come into action when it comes to managing people and making decisions as how we attract, grow, retain and motivate our people.
Also, many companies refrain from using data for addressing critical concerns like which team is likely to have performance problems and the reasons behind those issues? How to improve managerial efficiency? What is driving work culture and employee engagement?
Nevertheless, HR leaders and experts are starting to realize the power and impact of data-driven stats and insights when it comes to mellowing down risks and driving decision-making powers for organizational efficiency and people management.
With advanced data-driven technology such as artificial intelligence (AI) growing by leaps and bounds across businesses, it should not come as a surprise that HR experts are looking up to AI as their go-to or perfect pick-me-up tool for spot-on decision making and people management in future.
So how AI would change lives of HR?
Artificial intelligence is all about analyzing, breaking down and transforming data into humanized format, which is easy to interpret and study. A good example of AI is the suggestions and predictions that we get from our smartphones without having to be reminded of the same.
With the staggering influx of data in the human resource arena, artificial intelligence can offer an ocean of insights in key areas that often go unnoticed such as productivity, managerial effectiveness, employee engagement