How Artificial Intelligence is Changing the Workplace
The many challenges of talent management in keeping employees engaged are helping to define the future of work. Every organisation is struggling to meet its demand for experts with new skills, which is exacerbated by high attrition rates and a competitive job market.
CHROs and the organisations they lead are looking to upskill talent in order to build the expertise they require. Add to that the challenges of getting internal mobility right, giving employees chances to learn and grow, coaching managers to be champions of talent, and reducing bias in hiring decisions, and it’s easy to see that the challenges of the future of work will only get bigger.
Interviews and presentations at the Eightfold Cultivate 22 Summit showed that using AI to solve these problems in a data-driven way works.
A company with deep expertise in AI has launched Laddrr, a resource hub for planning and managing both children and thriving careers. Laddr’s goal is to help 10 million moms advance in their careers around the world. Ashutosh Garg, co-founder and CEO of Eightfold AI, and Kirthiga Reddy, president of Athena SPAC, are the minds behind this social impact initiative.
Why artificial intelligence is the future of talent management
It is critical to the future of work and talent management to assist employees in identifying their innate capabilities and skills and then provide them with personalised skill plans. Employees understand that their abilities and skills define their careers, not their current job position or the company for which they work. The ability and willingness of an employee to learn and relearn define the future of work today. They want to work for companies that will invest in their growth, give them chances to do well, and make more money as their careers progress.
The future of work is now balanced in favour of self-sufficient, always-learning employees who can chart their own career paths based on their abilities and skills. They are no longer reliant on a company for a job. This is a daunting challenge for talent management and HR professionals. External rewards, such as larger offices, more perks in the office, and higher pay, are less important than personal growth and autonomy. AI and talent intelligence platforms are making a difference in this area. Talent intelligence platforms are used by HR and talent management professionals to do a wide range of talent management tasks.
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The HR community must view talent management as a data-centric strategy, from upskilling and reskilling their employees to providing personalised career plans; creating talent marketplaces that guide workers to the next best position for them; and using AI to improve diversity, equity, and inclusion (DEI) and hire contingent workforces quickly. AI has evolved into one of the core technologies and techniques required to meet these challenges. It is a decision or an enabler that helps experienced HR professionals make their final decisions.
Talent intelligence platforms provide AI-assisted insights from the many talent management tasks they assist in improving, and they are responsible for providing transparent, clear definitions of how their algorithms are used. It’s good to see that laws are being made that explain how AI techniques are used to interpret and analyse personal data.
However, more research is needed to detect bias in data, and AI models and ethical practices must be defined and implemented to protect workers’ privacy. Having ethical guardrails in place will help ensure that workers with exceptional capacities and skills, regardless of race, gender, religion, or any other personal attribute, are not denied opportunities to excel in their lives and careers. The way forward is to reduce bias by using AI to find the best connections between career paths and skills.
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