4.What is Artificial Intelligence (AI) and how it can be used for HR purposes?

 

What is Artificial Intelligence (AI) and how it can be used for HR purposes?

 

Using AI to data-mine a company's HR information system can help predict employees who are at risk of leaving the company and which will guide and focus retention activities. AI will also help determine talent and experience shortfalls to support the company's business strategies.

Artificial Intelligence (AI) has become an increasingly popular topic in the mainstream press over the last few years. Though it might seem unclear why someone who isn't involved in computer science should care about AI, it is important to understand how this technology affects our daily lives. Applications of artificial intelligence are growing at breakneck speeds and becoming more ingrained into our society with each passing day. This includes the growth of AI within the human resources department. In fact, artificial intelligence is already streamlining recruitment, onboarding, training, and ongoing staff analytics processes. While this article will go more in-depth about what this process entails and how an AI program has the capability of achieving these goals, it is important to first understand some basic concepts about AI.

Artificial intelligence in HR is a relatively new way of looking at how companies can improve hiring practices, retain top talent, and support employees.

   

What Is AI?

AI is an umbrella term that encompasses a wide range of related concepts, including machine learning, machine intelligence, and cognitive computing. In general terms, AI can be defined as a technology capable of making decisions independently from humans without the need for direct instruction. In other words, machines can autonomously learn from their surroundings and make decisions based on what they have learned.

Artificial intelligence (AI) is an area in computer science that emphasizes the creation of intelligent machines. These machines range from agent dialogue systems, autonomous cars, and image recognition software to help desk assistants, virtual personal assistants, and self-driving vehicles.

VAC giant Daikin offers the ultimate customer experience of “X-ray vision.” Customers don the Quest headset and peer inside a giant chiller to watch how water and refrigerant work together to keep building temperatures comfortable. Alarm.com installers use their hands in VR to route cables and connect wires. The Finishing Trades Institute recruits painters in VR: grab a virtual tape bazooka with both hands, and drag it across a drywall seam.

 

 

 

 

AI in HR: The Basics

Artificial Intelligence (AI) is making its way into companies across several different industries. One industry that is seeing a large amount of change brought on by AI is Human Resources (HR). Human resources professionals use tools and software to handle the recruiting, onboarding, and training process. The future of artificial intelligence in HR will include automating some of these processes so human resources staff can be more strategic with time and money.

The first use of AI is in recruitment. This process includes filtering through applicants to find the best matches for open roles based on skillset, experience, competencies, and cultural fit. Machine learning can help HR professionals identify these attributes with better accuracy than traditional sorting methods like resume screenings or telephone screenings.

The next area where AI can help is during the onboarding process. Once an applicant has been identified as a good match for an open role, it becomes necessary to bring them into the company and integrate them with existing employees. This is where machine learning can assist by automatically generating personalized emails, scheduling meetings, or even phoning new hires to give them a warm welcome.

Finally, AI can assist in coaching employees for better business performance. This is where the real value of machine learning lies because this technology allows for constant feedback loops that are specific to each individual worker. Machine intelligence can assess an employee's strengths and weaknesses based on their own personal data (like location, team members, role, etc.) and give them actionable suggestions for improvement. According to an article published by HBR, "machine intelligence can help managers coach employees better than ever before."

What does AI's use in HR mean for the future of the industry?

1. Improved recruitment: AI-powered tools can help HR professionals find the right candidates faster, saving time and resources.

2.Enhanced candidate experience: AI chatbots and virtual assistants can provide instant responses and personalized communication, improving the candidate experience.

3. Better employee engagement: AI tools can help HR identify patterns in employee behavior and provide personalized feedback and training, leading to better engagement and retention.

4. Reduced bias: AI algorithms can help reduce bias in the recruitment process by removing subjective factors and analyzing objective data.

5. Increased efficiency: AI can automate time-consuming tasks such as scheduling interviews and onboarding processes, freeing up HR professionals to focus on higher-level tasks.

6. Improved workforce planning: AI can analyze data and make predictions about future workforce needs, allowing HR to plan for and address potential talent gaps.

7. Enhanced decision-making: AI-powered analytics can provide HR with insights and recommendations based on data, improving decision-making and organizational performance.

Overall, the use of AI in HR has the potential to significantly impact the industry, improving efficiency, reducing bias, and enhancing the employee experience. However, it is important for HR professionals to remain knowledgeable and ethical in their use of AI, ensuring that these tools are used responsibly and in the best interests of both the organization and its employees.       

 

 How AI benefits HR departments?

While change can be daunting, AI tools offer several key benefits to HR departments, streamlining their workflows and supporting improved decision-making. These benefits include the following:

Improved efficiency

AI can automate repetitive and time-consuming tasks so HR professionals can focus on creating strategies. Moreover, AI also improves decision-making with valuable insights via HR and predictive analytics.

For example, AI can enhance hiring efficiency by streamlining the screening and selection process. Algorithms can analyze resumes, determine the most qualified candidates and provide information to help recruiters make better hiring decisions.

Reduced costs

AI-powered software can analyze large amounts of data to identify patterns and trends and suggest cost-effective solutions. For instance, AI gives information about your sources of hire that generate the highest quality of applicants so you can allocate your hiring budget accordingly or drop ineffective recruitment channels.

McKinsey’s Global AI Survey shows that 27 percent of HR respondents said their AI adoption resulted in a cost reduction of less than 10 percent, while 23 percent reported an average revenue increase of 6 percent to 10 percent. The HR areas involved in this survey were performance management and organization design, workforce deployment, and talent management optimization.

Better decision-making

AI enables the collection and analysis of data in your HR processes to eliminate biases and guesswork to guarantee you are choosing the right candidate or offering the best compensation and benefits plan. For example, mining recruitment data helps uncover challenges so you can address them objectively. Looking at your recruitment analytics, you can:

Focus on cost-associated metrics like job advertising performance and cost per hire to reduce hiring expenses

Concentrate on speed-related key performance indicators (KPIs), like time to fill and time to hire, to expedite recruiting

Pay attention to quality-related KPIs, like new-hire turnover and new-hire retention rate, to improve the quality of hires.

 

Conclusion,

 

The use of AI in HR has significant potential to transform the way companies recruit, onboard, train, and retain employees. AI can enhance the efficiency, accuracy, and objectivity of HR processes, while also improving the candidate and employee experience. However, it is important for HR professionals to remain knowledgeable and ethical in their use of AI, ensuring that these tools are used responsibly and in the best interests of both the organization and its employees. As AI continues to evolve and become more ingrained in our society, it will be crucial for companies to adapt and leverage this technology to remain competitive in the ever-evolving business landscape.

 

 

 

References,

       Accessed web sites address,

https://www.linkedin.com/pulse/what-artificial-intelligence-ai-how-can-used-hr-purposes-mike-gannon/?trk=articles_directory (accessed on 14.4.2023)

       https://www.businessnewsdaily.com/how-ai-is-changing-hr (accessed on           14.4.2023)

 

 

 

 

 

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