ARTIFICIAL INTELLIGENCE

The Power of AI for HR:
Current Applications, Trends, and Shortcomings

By June 7, 2019 July 1st, 2019 No Comments
woman looking at a hi-tech computer screen

One of the major ways AI is making its presence known in the HR world is, for many organizations, among the most important. A growing number of businesses are leveraging AI in order to improve their candidate sourcing efforts, using data analytics to quickly find the right person for the job at a fraction of the cost (not to mention the time) that it used to take. In fact, one recent study found that 75% of hiring and talent managers are already using these types of solutions to improve their hiring processes.

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AI for HR and The IoT

AI apps for HR can be used to help automate the process of wading through data not only from in-house and external talent databases and hiring websites, but also sources like LinkedIn profiles, too, deepening their candidate pool. AI apps are helping businesses better prepare for (and inch closer to) another one of the most important pivots in human-technology interactivity: The Internet of Things. Because IoT-connected devices will power autonomous vehicles and industrial systems (among other applications), HR professionals will soon seek out individuals who, for example, can operate and monitor drones’ safety while adhering to FAA regulations.

But another far-reaching benefit of AI for HR professionals are the improvements (however slowly) to both personalize and humanize employee experiences. Gone are the days when the “one size fits all” approach to workplace productivity is enough to get the job done. Soon, AI will allow HR professionals to enable employees to choose not only the software and devices that work for their unique needs, but the processes and workflows as well.

Shortcomings in AI for HR

At the same time, one must also acknowledge a few key shortcomings present in the AI revolution—particularly those that impact HR professionals. AI is still a relatively young concept (at least in this sense) and things have not yet gotten to the point where all human tasks can be entirely automated. Generally speaking, artificial intelligence and machine learning are ultimately only as good as the data fed to their systems: if fed poor quality data, poor quality results are inevitable. 

Likewise, many experts agree that to best embrace artificial intelligence, businesses will need to acknowledge that there is a continuous change taking place. Making the jump to an AI-based world is not something to do once and forget about; it’s an iterative process, one that requires not only an “all hands on deck” approach and a total company buy-in, but also a proactive effort to stay ahead of the curve in the future. It is absolutely a strategic point for HR to take the lead in the digital transformation process. It’s just that this process isn’t as simple as flipping a switch; in the end, all HR professionals need to embrace artificial intelligence is technical curiosity, business acumen, and good, old-fashioned analytical skills. While the technical aspect is crucial, without those elements, it will be difficult to embrace and implement new and evolving AI apps for HR.

Find the Right Talent to Lead Your Global Expansion with an Experienced Partner

As AI for HR becomes more common, the ways by which HR professionals source and hire top talent will inevitably evolve, making finding the right talent simpler and quicker. But as promising as AI is for a better talent acquisition experience, its current shortcomings mean that HR professionals are still doing most of the heavy lifting—and that can take up valuable time essential to other elements of carrying out a global expansion.

Velocity Global’s International Professional Employer Organization (PEO) solution helps expanding organizations not only find the right talent, but becomes their Employer of Record (EOR), handling all risk mitigation and regulatory requirements to ensure compliant operation—no matter where the global expansion may lead.

Whether your organization is looking to hire one employee in Berlin, or a dozen in Budapest, International PEO can make it happen—all while saving your company up to 60% when compared to traditional entity establishment. If you’d like to learn more about how International PEO can streamline your hiring efforts and global expansion, reach out to Velocity Global today.