HR among top sectors to benefit from AI : Study Report
HR technology company Personio in July revealed that 78% of HR professionals between the ages of 25 and 34 and 69% of those over the age of 55 currently use AI tools at work.
HR departments are among those who stand to gain the most from government incentives for embracing AI innovation.
SAS, a provider of AI and analytics tools, used information from Innovate UK, a government-funded organization, to determine which industries had been awarded grants for innovation between 2020 and 2023.
According to the study, eight HR departments have, on average, raised more than £300,000 to invest in AI innovation.
In terms of the value of grants received in the UK, this ranked HR as the fourth-highest ranking industry.
Prathiba Krishna, head of AI and ethics at SAS UK and Ireland, suggests that companies require assistance in integrating AI into their operations.
According to her, “organizations are utilizing AI and machine learning, which are transformative technologies, to develop creative solutions that could address many of the major challenges we face today.”
“This research, however, emphasizes the enormous number of companies that have the potential to use AI but require additional funding from the government in order to realize their full potential.”
A study conducted by HR technology company Personio in July revealed that 78% of HR professionals between the ages of 25 and 34 and 69% of those over the age of 55 currently use AI tools at work.
AI has the potential to alter HR procedures across the board, from talent management to recruitment, according to Stephanie Coward, managing director of HCM at Iris Software Group, in an interview with HR magazine.
According to Prathiba Krishna, artificial intelligence (AI) is having a profoundly positive impact on HR. It is changing training approaches, improving hiring, and providing a solid foundation for raising employee engagement.
Furthermore, AI’s predictive analytics capabilities provide priceless insights into labor patterns, enabling proactive talent management and effective succession planning.
AI, according to Coward, would free HR to concentrate more on employee experience and less on administration.
“AI helps automate repetitive tasks, freeing up HR professionals to focus on strategic initiatives and personalized employee experiences,” the speaker went on.
HR may use AI to help upskill its present personnel, according to Chris Pedder, chief data officer of Orbizum.
“HR departments should be looking for ways that AI technology can help to upskill their current workforce so that it is built to meet modern demands,” he told HR magazine, citing the persistent skills gap and recruitment difficulties.
“Similarly, looking to the skills of the future to try, and future-proof workforces is a valid use of machine learning technology.”
He continued by saying that combining learning and development with HR would be necessary to apply AI in HR to close the skills gap.
“In the short term, it would make sense to allow HR teams to access the new breed of generative AI tools so they can get a feel for AI solutions,” he concluded.
In this manner, they will be able to put reasonable policies in place for its use and get over whatever reservations they may have about the technology.
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