Artificial Intelligence (AI) refers to the technology used to perform tasks that require a certain level of intelligence to accomplish. In simple words, AI is a tool trained to do what a human can do. There are three main components which distinguish AI from ordinary software, high-speed computation, advanced algorithms, and the ability to self-improve using neural networks. 

The success of any organization largely depends on how effectively it combines people and technology to deliver transformational value at optimized costs. Believe it or not, but ‘Human Resources’ is a crucial and stressful gig. Many HR executives believe that merging AI into administrative functions can improve and benefit the overall employee experience. Core AI technologies offer various significant opportunities to improve HR functions such as payroll, reporting, access control, self-service transactions, and recruiting processes. 

Benefits of AI in HR

According to a survey conducted by the IBM Institute for Business Value, 50% of chief human resource officers recognize the power of cognitive computing which can transform the key dimensions of HR such as HR operations, Talent Acquisition and Development. 

  • Better Insights in Candidate Assessments:- Relying on its ability to recognize and interpret nuances, artificial intelligence can transform cover letters, resumes, and communication processes into powerful tools to efficiently determine if the candidate is the best fit for an organization.
  • Streamline Training Processes:- Based on skill-gap assessments, HR executives can organize digital training opportunities for various teams. Conversational AI can answer new employees’ most pressing questions and allows managers to track their training progress.
  • Improve Relationships with Existing Employees:- With the help of AI engagement surveys, HR managers can identify the nuanced individual characteristics of every employee to efficiently pair their personalities and abilities with particular tasks, departments, and co-workers.
  • Maintain Employee Database:- HR managers can access employee databases for information like an employee’s job history, performance rating, and team reviews. With the help of chatbots, conversational AI can draw useful insights and highlight key performance indicators.
  • Improve Decision-Making Process:- Generally, a large amount of time is spent on recruiting and onboarding processes in business firms. AI offers HR executives to automate repetitive and low-value tasks so that they can focus on more creative and strategic work for the success of the company.

What are the causes of the slow adoption of AI in HR?

From 2011 to 2015, AI witnessed robust growth in investment from $282 million to $2.4 billion, a 746% increase in five years. However, despite the outstanding growth rate, several barriers can be blamed for the lack of AI implementation to assist in HR administrative tasks.

Few of them are:

  • Concern over Privacy:- It is crucial for any company to ensure the safety and security of confidential HR data.
  • Talent Gap:- For countries like India, it is quite hard and expensive to find skilled human resources that are necessary to operate AI.
  • On-Going Maintenance:- With the development of innovative technologies, AI requires in-depth knowledge, regular updates, and proper maintenance which can be a tiresome process, especially for small-sized businesses.

Despite these shortcomings, there is no denying that AI processes data way faster than the average human. Organizations should rely on AI for administrative duties so that HR departments can be more efficient and cost-effective. Having well-qualified employees from the beginning can shorten the entire process, allowing managers to dedicate valuable time for strategic planning. 

In support of this, many universities and colleges have launched HR management programs to ensure the HR managers stay up to date with the changing dynamics. IIM Calcutta, being one of the most prestigious college in India, offers a one-year course of Executive Programme in Human Resource Management (EPHRM) which focuses on a customer-oriented view about managing human resources in manufacturing, services, and sales organizations. 

Apart from securing recognized certification from the premium B-school in the country, students will have an opportunity to gain a thorough understanding of employee and talent management. The live online program aims to cover the canvas of human resource management at both macro and micro levels. 

After completion of the program, students will become well-trained managers to work in corporate firms and well-qualified to all HR processes.