AI can help HR transform their role and value in the organization in many ways. Here are some examples:
- AI can free HR professionals from mundane and repetitive tasks, such as payroll, benefits administration, policy creation, etc., and allow them to focus on more strategic and creative activities, such as talent planning, organizational design, change management, etc. AI can automate and streamline many of these tasks by using natural language processing, optical character recognition, robotic process automation, etc. This can save time and resources for HR professionals and improve the accuracy and quality of their work1.
- AI can enhance the skills, knowledge, and insights of HR professionals and help them become more influential and trusted advisors to the business leaders. AI can provide HR professionals with data-driven recommendations, predictions, and insights that can help them make better decisions, solve problems, and identify opportunities. AI can also help HR professionals learn new skills and competencies by providing personalized learning paths, feedback, and coaching2.
- AI can help HR professionals create a more engaging and rewarding employee experience that can drive retention, performance, and innovation. AI can help HR professionals understand the needs, preferences, and sentiments of employees and provide them with tailored solutions and support. AI can also help HR professionals foster a culture of feedback, recognition, and collaboration among employees, managers, and teams3.
Some of the benefits of using AI for transforming HR are:
- Improving efficiency and effectiveness. AI can help HR professionals do more with less by automating and optimizing many of their tasks and processes. AI can also help HR professionals improve the quality and consistency of their work by reducing errors and biases.
- Increasing strategic value and impact. AI can help HR professionals add more value to the organization by aligning their talent strategy with the business goals and delivering measurable outcomes. AI can also help HR professionals increase their impact by influencing and advising the business leaders on key issues and opportunities .
- Enhancing employee satisfaction and loyalty. AI can help HR professionals create a more positive and meaningful employee experience that can increase employee satisfaction, engagement, and loyalty.
Statistic AI in HR market size USD 3.89 billion in 2022, USD 17.61 billion by 2027, CAGR of 35.26%AI adoption in HR function17% of organizations use AI-based solutions in their HR function and another 30% will do so in 2022AI impact on hiring efficiency75% of HR professionals said that AI improved their hiring efficiency by 50%AI impact on data-based decision making62% of those that have deployed AI to improve data-based decision making reported significant improvements AI impact on employee experience57% of those that have deployed AI to enhance employee experience reported significant improvements AI impact on process automation56% of those that have deployed AI to further automate repetitive or manual tasks reported significant improvements
AI impact on cost savings51% of those that have deployed AI to capture cost savings reported significant improvements
