AI - Artificial Intelligence is not only impacting our regular daily routine lives but also changing our workplace environment. People have this misconception that AI will affect the job market however, it is quite the opposite.
Artificial intelligence promises to revolutionize the workplace in conjunction with its potential to reduce overhead costs, enhance productivity and help drive innovation. Hence it is already transforming the speed with which financial advice is delivered in the workplace, tailoring messages to employees, as well as helping them to make healthier lifestyle choices.
In the near future, AI is expected to continue personalizing information to increase employee engagement with benefits, leading to more participation and increased productivity, loyalty and retention. AI systems require to be free of bias and covered by strong governance to gain employees’ trust.
According to George Zarkadakis - digital lead at Willis Towers Watson, “AI is mainly used at the front end now, making it easier for employees to find what they need. There are obstacles, but this technology is very powerful and I expect we’ll see a huge change in its adoption over the next couple of years.”
Some of the departments/functions that are transforming and getting impacted by AI process are listed below:
1) HR/Human Capital Department: Filling open vacancies is often time-consuming, expensive, and frustrating. It’s one of the areas where AI is already making a huge impact. HR/Human Capital departments, recruiters, and hiring managers are taking advantage of many different types of AI-powered tools to improve the hiring & other processes.
2) Administration Department: There are a lot of tasks that expertise workers spend time on that provide little - if any - value. AI give employees AI-powered personal assistants that perform administrative tasks like scheduling, rescheduling, and cancelling meetings.
3) Marketing, Sales, And Customer Service Department: AI-powered chat-bots help with external support as well. Just like with internal support tools, these chat-bots learn from real marketers, salespeople, and customer service reps and are eventually able to answer questions as accurately as a knowledgeable person.
We cannot ignore the fact that AI technology can be a powerful tool when it comes to human resource activities such as finding and recruiting talent & other administration tasks in the future. However, there are still many steps where the human element remains essential such as interpersonal/soft skills.
Over time, well-trained AI may be able to take on some of these tasks, but it’s hard to imagine completely automating the very human process of hiring humans. Time will reveal how the potential and power of AI and we will see how humans and AI will evolve together in the next decade.