The opportunities of artificial intelligence in the payroll sector

Artificial intelligence (AI) is one of the many digital disruptions that poses unique opportunities and risks to all parts of business, including payroll, says Lavine Haripersad, vice chairman of the South African Payroll Association (SAPA). In America over 550 start-ups raised around $5-billion in funding to incorporate AI as a core component of their services in 2016. In the same year, around £1 billion was invested in AI firms in the United Kingdom, with the expectation that the industry will be able to boost the UK's economy by over £230 billion in the next 12 years. "With increased app-based capabilities as well as vibrant systems, contemporary staff members are more used to getting personalised, on-demand communication and feedback. Not only is today's workforce more likely to use self-regulating technologies, but HR teams are getting smaller and they must meet increasing demands from the business," says Haripersad.