- September 21, 2018
- Posted by: BuzzClan
- Category: Business plans
The effects of AI can be felt all around us and it’s highly unlikely that one can escape its omniscient presence. One can experience its capabilities within the comfort of one’s home through AI-powered IoT devices like refrigerators, smart televisions, and cars, to name a few. The adoption of AI is on the rise and its application to automate business workflows have started to reap immense benefits for the adopters in the form of higher return on human investment and brand development.
The uninitiated still decry the benefits of AI and formulate the crux of their argument around its potential to replace human workers and make most of the jobs redundant. The good news is that most of the HR heads don’t see AI as a cause for concern, rather on the contrary they reckon; it will transform talent acquisition capabilities and payroll and benefits administration. Let’s see the 4 pertinent reasons for such confidence of HR heads on a technology which is disrupting the old school of thought.
• The application tracking system software leverages AI capabilities to automate candidate screening and decrease the cost per hire and augments recruiters efficiency manifold, letting them focus on candidate engagement and brand building. AI through machine learning algorithms predicts the success of a prospective candidate by comparing their metrics with the qualification to success ratio pattern model, built from a large amount of sourced data of successful employees, and grades the candidates who match the criteria. This reduces bias during the screening process making the hiring process more transparent and seamless.
• According to HR managers around the world, AI will enhance candidate assessment. There are AI-powered tools in the market which combines digital video with predictive analytics, and eventually, speed up the time to hire without compromising on the quality of hire. Companies like observe.AI, use video interviews to create multiple data points on facial expressions, choice of words and intonation to assess the candidate.
• One of the main reasons for candidate leaving a company during probation time is the inadequate onboarding process. The HR honchos believe AI will streamline onboarding process and improve workplace learning. Recruiting chatbots will act as virtual assistants and through the power of machine learning and NLP, can converse with the employees and answer all their basic onboarding queries related to benefits, insurance, and company policies.
• Last but not the least AI will reduce the number of human errors and improve compliance. As AI facilities in automating most of the repetitive task prone to human errors, it mitigates the risk of non-compliance and data incongruity.
AI, now more than ever is playing a significant role in the way the business processes are run. In relation to HR, it helps in automating bookkeeping and various other repetitive interview processes like scheduling, sourcing etc. The HR leaders should understand, the capabilities of AI are for the better good and to run the business simple. It will only augment the simplicity in which the HR task is run, in addition to the much needed soft skills: the human touch