The word artificial intelligence (AI) was coined in a proposal for a workshop called 2 months, 10-man study for AI on 31 August 1955. Coursera co-founder and computer science professor at Stanford University, Dr. Andrew Ng finds the COVID-19 fallout is producing a wobbly seismic shift in how the world trades, and he believes much of it will be everlasting. Market watchers like to follow trends because they are often a good indicator of what will happen next. The near future usually does look like the recent past, but not always. Sometimes we hit an inflection point and things veer sharply from the trend and that changes things in a way that can be truly transformational.
Developers and business leaders can learn about the latest trends in artificial intelligence (AI) at IBM's free Data & AI digital conference on Nov. 10 starting at 2 pm GMT. The sessions will focus on operations, ethics, and cloud computing. IBM is running the conference again on Nov. 24 for India and the Asia Pacific region. People who register for the conference get $300 in credits to spend on any services in the IBM Cloud Catalog. Attendees who completes the course in Track 3 earn an AI and Data Essentials badge.
Research by the World Economic Forum (WEF) has found that COVID-19 has caused the labour market to change faster than expected, and that by 2025, automation and a new division of labour between humans and machines will disrupt 85 million jobs globally spanning 15 industry sectors and 26 economies. The Future of Jobs 2020 report also found that roles in areas such as data entry, accounting and administrative support are decreasing in demand as automation and digitization in the workplace increases. "More than 80% of business executives are accelerating plans to digitize work processes and deploy new technologies; and 50% of employers are expecting to accelerate the automation of some roles in their companies." "COVID-19 has accelerated the arrival of the future of work," said Saadia Zahidi, Manging Director at the WEF. "It's a double disruption scenario that presents another hurdle for workers in this difficult time. The window of opportunity for proactive management of this change is closing fast. Businesses, governments and workers must plan to urgently work together to implement a new vision for the global workforce."
Artificial intelligence (AI) in the HR world refers to technology used to do a task that requires some level of intelligence to accomplish, mainly to help humans do mundane tasks. AI is different from any ordinary software as it requires three core components to operate, namely high-speed computation, a huge amount of quality data, and advanced algorithms. Core AI technologies provide better accuracy and stability to everyday processes using an algorithm that connects quality data with fast computation services. AI technologies offer significant opportunities to improve HR functions, such as self-service transactions, recruiting and talent acquisition, payroll, reporting, access policies and procedures. HR experts have faith that merging AI into HR administration functions will benefit and improve the overall employee experience. This will provide more capacity, time and budget, and accurate information for decisive people management. Smart HR people For years, organisations have been collecting data to gain insights to predict future behaviour. HR teams have a lot of catching up to do in leveraging these people analytics — what data to track, analyse, manage and protect. AI will play a larger role within HR to support smart people analytics in innovative ways to attract top talent. Technologies that enhance the candidate experience and meet expectations will help distinguish an organisation from all the others. In addition, a stronger digital IQ will bring a business deeper into what is referred to as an “unconscious level” of information. HR performance and succession data provide information on which employees are engaged and challenged. That gives a new dimension to strategic workforce planning to reduce employee attrition. It is a helpful tool to find the right mix of man and machine in the workplace, which skills and talents are key to maintain balance, and the best-fit candidates for the internal or external hiring process. See also: Workplace Security: Obstacle of Multi-Factor Authentication Barriers to adopting AI technologies AI helps efficiently automate many back-office functions for reliable HR transactions and service delivery. This document is focused on conversational AI capabilities for HR transactions and provides insight about intelligent automation via the technology-agnostic chatbot. Beyond the novel benefits of AI, we show how this innovative technology can be the best way to integrate and automate HR transactions in a robust manner. Nonetheless, the cost of using AI might be a barrier for businesses, especially small-to-medium businesses to compete in the fierce marketplace. Financial barriers can be blamed for the lack of wider implementation of AI tools to assist in administrative tasks, said a survey. Thus, when senior leaders do not see the value in using AI for human resources functions, it can be hard to justify the cost. Privacy and security risks posed by AI Although cybersecurity has traditionally been seen as part of IT tasks, HR data privacy poses a number of challenges for AI development in the workplace. With increasing cyber-related incidents, cybersecurity has moved from the tech silo to wider business frontlines, especially HR as a business front door. Employee data protection awareness is important, and appropriate governance guidelines need to be set up while dealing with AI. Such guidelines should address not only the overall technical and data inputting processes but also a number of legal and ethical issues. Organisations must get proper consent to avoid additional issues due to the complexities of AI and the training data involved. In some instances, the following tips might be applicable: Provide a privacy notice to employees explaining why their data needs to be used for the AI solution to facilitate desired results. IT security departments should have policies in place to make it clear to employees what data is permissible and not permissible to collect for the AI solution.The chatbot solution should not store any personal identifiable information (PII) or confidential information during the processing of an employee request. PII and confidential information should be communicated via a secure internet or intranet protocol.Training data should be secure for machine-learning purposes and should not have any HR PII and confidential information.There is potential for a lot of PII information to be collected. Machine-learning solutions should have masking capabilities so that observers can’t learn specifics about other users.HR systems should only release authorized information to employees during conversational AI transactions. Companies need to make sure they have appropriate controls in place around HR data. If they don’t, then the output delivered by the algorithm will be flawed and lead down a path of wrong decisions. Read also: Job Security, Salary and Work-life Balance Top Priority for Workers in Singapore
This is the first in a three-part series. In the already fast-changing world of HR, the ongoing COVID-19 pandemic is creating unimagined twists and turns as 2020 progresses, leading to unprecedented attention on HR technology to help employers manage these new challenges. No emerging technology arguably has had more impact on the evolution and refinement of the pandemic workplace than artificial intelligence--which is expected to continue in the months and years ahead. One HR area that has benefited the most from AI-based solutions is workforce management, mainly in recruiting for employers whose business sectors continued to thrive, or in managing challenges such as furloughs and layoffs for the sectors hit hardest by COVID-19. According to Greg Moran, CEO at OutMatch, a SaaS-based talent intelligence platform, the movement toward HR digitization, with the use of AI and machine learning, was already well underway at the start of the year.
After several stop-starts, artificial intelligence, or AI, is now the single most important driver shaping the future of work, but has proved itself to be evolutionary rather than revolutionary. So says Ian Jones, co-founder and chief strategy officer at the business software developer AMPLYFI. While it cannot transform a firm overnight, nor be "a silver bullet to business leaders' painpoints", it can deliver "incremental improvements to productivity or planning" provided realistic expectations are set, Mr Jones says. AI in HR can make a positive impact across everything from recruitment and retention to fostering staff wellbeing, enriching jobs and protecting against brain drain, he believes. As information overload intensifies, the ability of AI to process big data at a speed, scale, and accuracy that humans cannot match will reduce stress among all knowledge workers.
A survey of youth 14-18 finds that they are interested in working with emerging technology, but feel unprepared to do so. As a response, IBM has launched three new AI-focused online tools to teach young people about the future of artificial intelligence. IBM's study of the cohort in 13 countries found that 68% of them think that AI will have a major impact on their lives, but half of that number (34%) said they don't feel properly equipped to use the technology that will make a large difference in their futures. "As a company bringing advanced technologies into the marketplace, we have a deep responsibility to ensure that learners have the skills required to participate in the digital economy," IBM said in its announcement of the new educational tools. More than half, 56%, of young people surveyed said they were interested in tech careers, and 60% of those were interested in emerging tech areas like cybersecurity and the cloud. When it comes to any one area of interest, AI dominates with 59% wanting to learn more about it.
The wait is over: artificial intelligence (AI) is here. And despite apocalyptic predictions about workers being replaced by intelligent machines, leading organizations are taking a new tack: actively searching for strategies to integrate AI into teams to produce transformative business results. These "superteams" hold the promise of enabling organizations to reinvent themselves to create new value and meaning, while giving workers the potential to reinvent their careers in ways that help increase their value to the organization and their own employability. For organizations that still view AI mainly as an automation tool to reduce costs, connecting their AI initiatives with their efforts to craft more effective teams is a first step toward enabling humans and machines to work together in new, more productive ways. The Readiness Gap: Fifty-nine percent of organizations say the redesign of jobs to integrate AI technology is important or very important for their success over the next 12 to 18 months, but only 7 percent say they are very ready to address this trend.
In the past ten years, the world of recruitment and Human Resource has changed a lot. Shaped by several different and mostly technological factors, the HR department has drastically transformed from sorting resume papers manually to imbibing technology in the recruitment process. Currently, all the Talent pioneers are recognizing the urgency to start embracing emerging technologies, such as Artificial Intelligence, analytics, cognitive, AR and VR to reinvent how people work in the organization and how new talents are being hired. HR professionals also believe, to bridge the gap, organizations must focus on their employee strategies to yield productivity, experience, collaboration, streamlining processes, simplify work, and setting up new goals. With technologies like AI, organizations can invent, reinvent, and transform the processes.
The umbrella term for software and hardware it automates the human resources function in organization. One of the most discussed and debated trends of the contemporary times in the HR Technology is the use of Artificial Intelligence (AI). As per recent predictions, AI is going to be the crunch point, in terms of productivity for HR professionals. It has been feared by many professionals that machine is going to take away their jobs. Basically there is no reason to be cautiously optimistic; this is quite early to predict the actual impact of AI in HR and Talent Acquisition.