We all know that artificial intelligence is increasingly being used in our lives on a daily basis. For example, 56% of U.S. broadband households find it appealing to use voice assistants, such as Amazon Echo, to control smart home devices. In the world of business, many industries are beginning to incorporate artificial intelligence into their corporations to improve processes, reduce costs and impact the overall bottom line. IBM’s Watson Health, for example, is changing the healthcare industry by using artificial intelligence to “assist radiologists in distinguishing between malignant and benign tumors-often with higher accuracy than the radiologists themselves” according to HireVue.
Artificial Intelligence is also taking the HR industry by storm by changing the way Human Resources departments operate. Solving many HR issues such as slow HR processes, Artificial Intelligence will be gradually available in all facets of Human Resources.
AI in Talent Acquisition
Artificial intelligence systems can source candidates and schedule interviews with recruiters. Arya, a recruiting artificial intelligence technology, identifies high quality candidates through analytics and behavioral pattern recognition and then reaches out to candidates to determine their interest. Arya then brings interested candidates that are qualified directly to your pipeline. Mya, another recruiting artificial intelligence system automates processes from sourcing all the way up to hire, saving human resources teams 75% of their time.
Using Artificial Intelligence in talent acquisition has many benefits including improving the candidate experience by reducing wait time to hear back from employers. If the candidate has a question, a chatbot is available at any time to answer questions. The creators of Mya boast that using their AI system will result in a 70% decrease in time to hire.
AI in Employee Relations
Many companies are also using Artificial Intelligence to simulate human conversations to answer HR related questions in real time. Chatbots are programmed to answer common HR questions freeing up time for HR personnel to focus on more challenging employee issues.
Loka created a chatbot, Jane, to answer a plethora of HR and employee benefit questions for employees in real time 24/7. HR can also track employee satisfaction through analytics ran by Jane.
AI in Employee Development
Artificial intelligence can give employees an individualized learning experience for the career path they are pursuing that managers don’t have time to do on their own. An article in Personnel Today states that “companies who have employed AI-based learning technology have seen impressive results, such as a 32% increase in employee productivity and a 43% increase in employee retention.”
AI in Data Analytics
Running analysis on employee turnover and engagement can be a difficult and time consuming task, but is extremely important in order to identify any major trends. Artificial intelligence will be able to analyze a huge amount of data and will also be able to predict future trends to help companies identify issues and proactively find solutions.
According to an article on the Huffington Post, “This is where AI works its magic by analyzing turnover rates, internal employee engagement levels and communications or any other unforeseen problems that could take months or years to visibly surface.”
Artificial intelligence will make a big impact on Human Resources. How is your company preparing to use Artificial Intelligence to transform your business?