How The world of A.I. May Impact On Human Resources Management
There are certain stages in history where great breakthroughs are made. Examples being, the Spinning Jenny during the industrial revolution in the UK in the 18th century, the steam engine, the discovery of electricity and of course how can we forget the personal computer. Interestingly, after each discovery it generally leads to a rapid period of economic expansion, fortunes were made swiftly and new boundaries expanded. So this begs an interesting question about just how AI might achieve the same success.
Certainly it would be fair to say that AI was clearly the buzz word for 2023 with world markets responding favourably to the development of strong and powerful computer models to produce high quality content based upon the data they are trained on, indeed stocks associated with AI were amongst some of the top achievers throughout the year. So are we right to be cautiously optimistic to expect that AI will propel the next boost to productivity that this presently troubled world could well use?
Balancing AI’s Benefits and Risks in Human Resources Management
There is no doubt that AI does have the capability to benefit the world of human resources management with the AI algorithms analysing huge chunks of data, providing both HR teams and staff with employee performance and progress. Identifying skills gaps and recommending personalized professional development plans. HR staff will be empowered to clearly demonstrate staff development and execute meaningful conversations. Clearly AI continues to advance and HR companies seek to integrate AI to future-proof businesses. As well as examine just how AI can positively impact the world of the HR professional going forward. However one thing that we can not yet predict is just what the rapid growth and commercial impact will have on the profession.
One huge benefit is an improvement in efficiency and productivity. Indeed McKinsey & Company have suggested that A.I. could automate up to a staggering 45% of HR tasks, this could free up the future HR professional to therefore focus on strategic initiatives. Meaning they could utilize their skills to maximize results and ultimately profits, rather than merely reducing HR staff numbers. Another intriguing element about AI is that it has the capability to reduce human bias when assessing candidates, as it removes human subjectivity from the decision-making process. This can only improve greater inclusion and diversity in the work place.
Interestingly, one concern about AI is how it might impact on staff privacy, data protection and security, as it has access to all manner of information, some of which can be sensitive employee information. This could leave companies vulnerable to privacy breaches and data misuse. Clearly there needs to be well regulated guidelines and processes. Interestingly, one question around the debate of AI and HR is in the unique world of human empathy, which is integral to the HR community. HR is so much more than data, salary compilation, and tick boxes for on-boarding. No. It also covers such issues as conflict resolution, counselling and performance management where empathy and emotional intelligence have to play a key part. In this unique regard AI is not at the table, as it will never have what Bruce Springsteen called in one of his songs, „The Human Touch„.
AI and HR: Navigating the Promises and Challenges of the Next Tech Boom
Clearly, some really exciting opportunities lie ahead not just for the world of human resources but across all other sectors and disciplines that the new world of AI will no doubt impact. What we have to do as a professional industry is to maximize the huge benefits that AI can bring, while at the same time ensure that there are checks and balances in play that protect vulnerable people and data. Certainly world leaders are acutely aware of both the benefits and risks that AI but whatever one might think there is no doubt that the AI genie is well and truly out of the bottle, let us watch on with interest just how the world copes with it.
Author: Austin Birks, CEO, Verita HR Group
