Register for free to become a member and enjoy access to all HRD content.
Member benefits:
Register below, or sign-in if already a member
AI (artificial intelligence) is developing the way businesses grow day by day. Within businesses learning is becoming ever more apparent as an imperative to the personal development of its people. Advancements are happening continuously, we've looked into some specifics and key areas of growth.
According to PwC, the top 10 AI technology trends for 2018 are;
It’s obvious that AI is going to impact upon the business that each and every one of us work in, but how, and to what extent will it change the way we work?
The immediate feeling around artificial intelligence (AI) within the workplace and when considering the future of work can often be fear: fear of the unknown and fear that our jobs will disappear. However, embracing technology and new ways of working can open up a range of opportunities for both employees and the business.
Josh Bersin, principal and founder of Bersin at Deliotte, recently discussed how we should embrace technological advances in everyday life, citing his modern AI-enhanced car as an example. He stated that he isn’t afraid of his car – quite the opposite in fact.
Given that The McKinsey Global Institute has estimated that 46% of Europe’s top five economies are steadily integrating AI right now, jobs will likely be disrupted and people will be expected to adapt to new ways of working. LinkedIn recently reported that repetitive jobs within recruiting, such as CV reading and data processing/correlating, will soon be automated – allowing human talent to be better used in more strategic aspects of the HR role.
Talent retention has always been a challenge for HR and is unfortunately becoming an ever more pressing issue. In fact, approximately 78% of business leaders consider retention important and/or urgent. Using AI platforms can give you key insights into what your employees are really looking for within their role and will allow you to start predicting behaviour patterns. Some of these findings could range from those who haven’t had pay increases for a considerable amount of time, those who are unhappy with their work-life balance, or those are feeling severely pressured in the workplace. This information will be correlated from what employees have chosen to share, allowing you to take action before a situation escalates.
Developments in technology can take the time-consuming elements out of developing employee training and L&D programmes, by organising and coordinating the needs of the employees/those undergoing training. Having platforms that offer online courses to start or develop careers further is a huge advancement in terms of allowing people to learn and develop in a way that suits them – the remote classroom and digital classes provide people the with the flexibility they need in this VUCA world.
When you consider that companies with engaging onboarding programmes retain 91% of their employees, you begin to realise that this is not something to be underappreciated. AI can be customised to design onboarding programmes for specific roles. New starters need and deserve a lot of time, determining the correct level of support, guidance and resource can be calibrated by management, ensuring the new starter has ample support. In SHRM’s Onboarding report they cite Zappos’ onboarding model, in which they hold a 5-week programme. Once the programme is complete, they offer each employee $2000 to resign because they are so confident in their robust onboarding strategy. In fact, only 1% of new recruits go on to resign.
…Therefore, why are we afraid of technology that has been designed to improve our lives?
Being able to monitor engagement is arguably one of the most important aspects of an HR professional’s job. It’s sometimes difficult for humans to be able to track this accurately – but with the advancement in AI tools this issue should be eradicated. Another consideration is bias – or more to the point, unconscious bias. By using technology, this doesn’t occur or interfere with reporting and/or monitoring performance. AI is set to double economic growth by 2035; this will range from simple inputting of data to complicated problem-solving algorithms, which will leave no room for human error and ensure accuracy when monitoring how employees are performing. In a way, we are taking the human out of human resources, allowing AI to do the resourcing, and humans to create and breathe life into the people strategy.
HRD Summit UK 2018, Tech Village sponsor Qlearsite, the organisational science specialist has been selected for their AI and Machine Learning Technology for Human Capital Management (HCM) processes, according to the Gartner May 2018 report on ‘Cool Vendors in Human Capital Management Applying AI’. Qlearsite gives businesses a people analytics platform using machine learning, natural-language processing (NLP), sentiment analysis and data visualization to generate insights related to various workforce topics. These include innovative solutions to recruitment, employee engagement and retention, diversity and inclusion, experience, Verification of Employment (VoE) and ultimately business productivity.
Peter Clark, Co-Founder, Qlearsite said: “There is a myriad of benefits to be had from organisational science; whether that’s improving employee experience, retention, engagement levels or business productivity. As AI and machine learning is increasingly implemented across the various HCM workstreams, we are confident Qlearsite will be leading from the front. Our ability to offer competitive, adaptive and agile people analytics for the mass-improvement of HCM processes and employee experiences is unique.
Alex Borekull, Co-Founder at Qlearsite commented:“We believe receiving recognition as one of Gartner’s ‘Cool Vendors’ for our work in the HCM sector validates our own beliefs in the positive transformation people analytics can have to workplace productivity. By taking advantage of our solutions, HCM Application leaders can help increase talent analytics maturity, improve employee engagement measurement and make data science in the HCM domain more easily accessible. By utilising this insight, businesses can improve efficiencies, grow more sustainably, and significantly increase the health of their business.”