Taking On Talent Management's Most Urgent Challenge With AI

Bottom Line: The most urgent talent management issue every business is facing today is how to improve Diversity and Inclusion (DI) by reducing the potential of bias and evaluating candidates on capabilities first. Organizations need to focus more on using AI and machine learning techniques to identify, recruit, and hire candidates based on their capabilities while removing as many potential bias triggers as possible. Businesses that are making DI an integral part of their companies are experiencing an 83% improvement in their ability to innovate, a 42% increase in team collaboration effectiveness, and a 31% improvement in customer responsiveness, according to Deloitte. A study by the American Sociological Association found that companies with the highest levels of racial diversity attain 15 times the sales revenues of those organizations with the lowest levels. McKinsey found that excelling at DI is directly related to higher profitability and value creation.