Quick Briefs:
According to poll results released on May 1, the majority (65%) of CHROs questioned by The Conference Board believe AI will positively influence the HR function over the next two years.
This discovery comes as HR professionals face a challenging talent market. Just over half of those polled stated they expect hiring to expand in the next six months, an increase from Q1 2023.
However, many companies are taking action to address the economic downturn; 36% have frozen recruiting outside of key areas, 22% have delayed employee development opportunities, and 15% have laid off workers.
Matter Insights:
These findings coincide with the federal government’s intensified examination of the usage of artificial intelligence at work. Federal authorities, including the White House, have expressed an interest in investigating and perhaps regulating the technology, cautioning firms to consider employee health and safety when employing automated tools.
According to data on layoffs, it’s also an increasingly difficult moment for talent managers in general. According to experts, the latest Job Openings and Labor Turnover data from the U.S. Bureau of Labor Statistics indicated an “unambiguous” market cooling. While firms are becoming more selective in their recruiting, many still have difficulty locating individuals with the necessary abilities, according to experts.
Some believe that automated technologies of various types, including language models like ChatGPT, can aid with worker productivity when more employment is not possible. Experts have told the news publication – HR Dive that ChatGPT, in particular, might help speed up some of the most time-consuming responsibilities of recruiters, while other automated technologies have been demonstrated to boost customer support workers’ productivity.
Though AI has the ability to improve the HR department by automating administrative chores, increasing employee experience, giving more accurate employee performance assessments, customizing training and development, and improving compliance with rules and legal requirements. At the same time, using AI in HR may present problems, such as guaranteeing data protection and preserving a human touch.
When employing AI in HR operations, HR professionals should exercise vigilance to guarantee that it is fair, ethical, and effective. HR practitioners may use the potential of AI to better the HR function while preserving employees’ interests by avoiding prejudice, ensuring data privacy, keeping a human touch, and assessing the impact on employees.
