In 2017, IBM launched a study of how AI can effectively be woven into the HR and onboarding experience. After polling top CEOs, they found that 66% of them believe cognitive computing can drive significant value in HR. From the ability to enhance the efficiency with which human resource managers can filter and process resumes to the ability to reduce bias and human error, artificial intelligence is impacting business practices in a big way. However, HR has only seen the tip of the iceberg. There are many advancements yet to come.
Strategically Integrating Automation and Human Intelligence
As AI becomes more popular, it’s important for businesses to understand that the automation this technology brings and the emotional touch that humans bring don’t have to be mutually exclusive. Combining the two is what makes the merger of AI and HR so beautifully efficient. And, it works for both employees and potential candidates. HR firms and recruiting departments can now use AI to handle menial tasks in a much more efficient way, such as processing resumes in a way that uses an algorithm assessment platform to look for the top candidates according to their resumes and not anything else.
Simply put, AI has the ability to process way more data than any human being ever could in a short amount of time, making the merger of them both ideal for companies looking to cut costs and increase efficiency. Leaving AI to perform menial tasks such as responding to candidates, filtering resumes, selecting the best candidates and helping with onboarding frees up the actual humans to really use their emotional skills to make more well-informed decisions.
Cutting Costly Mistakes Due to Human Error
While it’s not necessarily fair to call a wrong hire a “human error,” artificial intelligence has the ability to cut down on costly hires that lead to costly mistakes when they quit or get fired after only a few months. In 2018, the cost of onboarding just one new employee can be as much as $240,000 dollars, and at least 43% of HR recruiters have admitted to making a bad hire because they felt pressed to fill a position fast. With the help of AI, recruiters can not only streamline the hiring process in a way that frees them up to focus on what really matters, but it can help develop algorithms that provide recruiters with better recommendations and functionalities that assist the hiring decision. While this certainly isn’t a replacement for HR managers who have worked hard to understand the intricacies of human behavior, it’s certainly a welcome addition and a great help.
Big Data Requires Human Intelligence
Those who are worried that this signals the rise of machines and the downfall of human workers needn’t worry. Experts note that the emotional aspect of big data analysis will always require human intelligence that machines lack. The emotional intelligence, specifically present when making decisions, is based on sentiments that machines don’t currently possess and probably won’t ever be able to handle. In this aspect, it makes big data pretty important to not only the advancement of artificial intelligence but the optimization of human resources and talent management as well. The future holds bright things for those who are willing to accept the technological changes that are coming.
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