Role of Artificial Intelligence in Human Resource Management
“Everything we love about civilization is a product of intelligence, so amplifying our human intelligence with artificial intelligence has the potential of helping civilization flourish like never before – as long as we manage to keep the technology beneficial.“
(Max Tegmark, President of the Future of Life Institute)
- What is Artificial Intelligence
- Artificial Intelligence (AI) is the simulation of human intelligence in machines that are programmed to think like humans and mimic actions from the most simple to those that are even more complex.
- It is a technology that exhibits traits associated with a human mind such as learning and problem-solving.
- What AI can do?
- From SIRI to self-driving cars, artificial intelligence (AI) is progressing rapidly. While science fiction often portrays AI as robots with human-like characteristics, AI can encompass anything from Google’s search algorithms to playing chess or solving equations, outperforms humans at nearly every cognitive task
- What are Virtual Reality (VR), Augmented Reality (AR) and Mixed Reality (MR)?
- Virtual Reality: completely virtual environment that is generated by a computer – users can move in a digital environment and hear sounds. Moreover, special hand controllers can be used to enhance VR experiences.
- Augmented Reality: users see and interact with the real world while digital content is added to it.
- Mixed Reality: Mixed reality that starts with the virtual world – the digital environment is anchored to and replaces the real world.
- What are the applications of AI in Business Environment?
- Artificial intelligence applications in business / industry include automation, data analytics, and natural language processing. Across industries, these three fields of AI are streamlining operations and improving efficiencies. Automation alleviates repetitive or even dangerous tasks
- Examples of AI in Banking and Finance – fraud detection, Retail – online customer support, Cyber Security, etc.
- What are the applications of AI in HR?
Recruitment and On-boarding:
- AI can streamline application processes by designing more user-friendly forms that a job applicant is more likely to complete, effectively reducing the number of abandoned applications.
- AI plays an important role in candidate rediscovery by maintaining a database of past applicants.
- AI technology can analyse the existing pool of applicants and identify those that would be a good fit for new roles as they open up rather than expending time and resources searching for fresh talent.
- AI can be used to identify qualified employees more quickly and easily than ever before.
- AI allows on-boarding or new hires to utilize human resources support at any time of day and in any location through the use of chatbots and remote support applications. This change not only provides employees with the ability to go through the on-boarding process at their own pace, but also reduces the administrative burden and typically results in faster integration.
- AI is used currently in rating and ranking profiles based on Profile photo, Headline, Career Objective, Summary, Keywords, Education, Experience.
- AI is currently used in Voice powered talent technology solutions for connecting, screening, scheduling and onboarding candidates via conversional calls and messaging.