According to a study, the global market size of Artificial Intelligence and allied technology is projected to cross the $260 Billion mark by 2027. This massive surge in numbers can mean only one thing – AI technology has made its place in the HR industry, and we are most likely to see some huge technological advancements in the near future. You may love it or hate it, but you certainly cannot go without noticing the impact of AI in everyday lives. So, in this article today, we, at the Indore Institute of Management & Research, positioned among the best management colleges in MP, will shed light on some of the pros and cons that the AI technology has brought in for HR professionals. Read on.
Impact of AI tech on key focus areas of Human Resources
Artificial Intelligence has particularly shown its worth in work processes that require intensive but menial labor. By reducing the component of human error, AI helps in better risk mitigation and increased efficiency, all in less time. But at the same time, it also increases initial setup time and cost. So, the big question remains whether to adopt AI or not. No matter what the outcome be, it is worth enrolling for a specialized course at a reputed management college like the Indore Institute of Management & Research.
The following sections cover the pros and cons of adopting AI in key focus areas of Human Resources.
Impact of AI on the process of hiring candidates
While there is no shortage of skilled professionals, finding the right fit for your company can be a considerable challenge. What if you miss out on that perfect candidate just because someone got to her before you did? Since AI modules built for this work offer excellent time management and efficiency, such modules are a huge benefit for any HR professional.
Impact of AI on employee well-being and engagement
Besides recruiting talent, one of the most prominent roles of an HR professional is to engage with employees, understand their grievances, and address them. Unfortunately, the number of essential but rote tasks (filing, attendance record-keeping, managing petty cash funds, etc.) that HR professionals have to perform every day leaves them little to no time for engagement. This is where AI can be a saving grace.
While the current state of this technology is a far-cry from humanoid robots who can literally replace humans at work, AI is making a mark across industries. Be it manufacturing, finance, medicine, or the latest addition, human resources, there’s only one word befitting to explain the impact of AI technology – Revolutionary. And at the Indore Institute of Management & Research, one of the leading management colleges in MP, we have always ensured to keep our students updated with the latest advancements in technology. We firmly believe that technological advancements are here to stay, and as such, it is imperative that the youth of the nation have sound know-how of the technology. So, enroll in the industry-relevant courses at the Indore Institute of Management & Research and say yes to a fulfilling career.