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Retailers today are faced with mounting pressure to maximize their bottom lines while maintaining cost expectations for consumers. But amid volatile market changes, ever-evolving customer expectations and increased competition online, this is increasingly challenging to realize. Many retailers are turning to AI to help boost productivity while keeping costs in check. Research finds the global market size for AI in retail is expected to grow drastically, from $4.84 billion in 2021 to $31.18 billion in 2028. This sharp increase is attributed to surging demand for AI-powered retail solutions as the industry continues to undergo digital transformation.

"Zoom fatigue" refers to a mental overload that reduces productivity. Senior managers believe there is AI in the investment of meetings. The Stanford Virtual Human Interaction AI Lab studied the psychological effects of protracted video conferencing and online meetings in early 2021. Sixty-five percent of 182 senior managers polled at UNC-Chapel Hill said meetings delayed them from finishing their job, while seventy-one percent said most meetings were inefficient and unproductive. Some tech companies now say all our time has been sucked up into the cloud. With the rise of technology-dependent remote employees, new solutions emerge to make in-person and virtual meetings more effective.

The current generation of artificial intelligence, which is heavily supported by big data and machine learning platforms, is starting to worm its way into the average workplace. When implemented effectively, it has the potential to reduce operational costs, improve output and productivity, and boost employee satisfaction by taking over many rote and undesirable tasks. Gartner reports that enterprise use of AI has grown over 270% during the past four years. The technology is used for many purposes, from marketing and consumer research to employee experience and staff recruitment. And yet, business productivity stands to benefit the most from its adoption.

World of business has undergone a significant facelift over the last few years. AI has changed the way we do business. Now, it is possible for us to become more productive by replacing time-consuming processes and complicated choices with quick and informed decisions. Robotic Process Automation is one such artificial intelligence trend that has helped many businesses to grow in their domain. The benefits of implementing RPA in business are spectacular.

In the recent past, one of the hottest trends in HR technology has been the use of Artificial Intelligence (AI) in facilitating processes and decision-making. Many organizations now are leveraging AI to improve the efficiency of their employee engagement, recruitment, performance management, workforce management, succession planning processes, and other processes as well. AI is particularly well-suited for these roles, and it helps HR professionals to focus on complex issues, and leave mundane tasks to be performed by technology. Although there are many potential use cases of AI, organizations are approaching it with caution and taking one step at a time. A survey conducted by Gartner indicates that 23 percent of organizations who were using some form of AI were doing so in the HR and recruiting domain.

In the recent past, one of the hottest trends in HR technology has been the use of Artificial Intelligence (AI) in facilitating processes and decision-making. Many organizations now are leveraging AI to improve the efficiency of their employee engagement, recruitment, performance management, workforce management, succession planning processes, and other processes as well. AI is particularly well-suited for these roles, and it helps HR professionals to focus on complex issues, and leave mundane tasks to be performed by technology. Although there are many potential use cases of AI, organizations are approaching it with caution and taking one step at a time. A survey conducted by Gartner indicates that 23 percent of organizations who were using some form of AI were doing so in the HR and recruiting domain.

As new technologies automate more traditional and routine tasks, executives and employees recognize that emotional intelligence (EI) skills – such as self-awareness, self-management, social awareness and relationship management – will be a key requisite for success in the years to come. While demand for EI skills is set to increase by six times in the next 3-5 years, recruitment and training in this area has mostly failed to adapt. This is set to leave many companies unable to reap the benefits EI offers in terms of employee satisfaction, revenue generation, lower attrition and cost reductions. The "Emotional intelligence – the essential skillset for the age of AI" report from the Capgemini Research Institute provides a global look at how companies view EI and recommends that they combine technology with the talent to develop relevant skills among their employees. Executives said employees need to develop EI skills so they can adapt to more client/person-facing roles (76%) and take on tasks requiring EI skills that cannot be automated (also 76%) such as empathy, influence and teamwork.

Paris, October 17, 2019 – As new technologies automate more traditional and routine tasks, executives and employees recognise that emotional intelligence (EI) skills – such as self-awareness, self-management, social awareness and relationship management – will be a key requisite for success in the years to come. While demand for EI skills is set to increase by six times in the next 3-5 years, recruitment and training in this area has mostly failed to adapt. This is set to leave many companies unable to reap the benefits EI offers in terms of employee satisfaction, revenue generation, lower attrition and cost reductions. The "Emotional intelligence – the essential skillset for the age of AI" report from the Capgemini Research Institute provides a global look at how companies view EI and recommends that they combine technology with talent to develop relevant skills among their employees. As more traditional and routine tasks become automated, organisations are placing a premium on EI skills, from self-awareness to relationship management and communication.

As we all know, Artificial Intelligence (AI) is taking the HR industry by storm – impacting job descriptions and redefining how HR and talent management professionals work. For instance, not only does AI speed up the sorting and filtering process for HR professionals by helping them scan resumes, but now, AI technology is humanizing the process by giving recruiters more time to talk to strong candidates. Additionally, recruiters are no longer separated by time and distance from candidates because chatbots can now answer simple questions across all time zones, resulting in more efficiency for HR professionals and faster responses for prospective candidates. With this in mind, we had the chance to speak with Anish Joshi, VP of Technology at Fusemachines, about how organizations today are using AI technology to optimize the HR screening process and his thoughts about this new "digital HR" era. AJ: Hours of manual and administrative work are put into recruiting the right candidates for organizations.