The Impact of AI on the Workplace20 Aug, 20201.5
Everywhere you look at the moment, technology is rapidly advancing and changing the way we w...
Everywhere you look at the moment, technology is rapidly advancing and changing the way we work, and artificial intelligence (AI) is no different. It’s not quite “robots are taking over the world”, but AI will have a significant impact on the workplace, jobs and recruitment.
For economic giants like the US, EU and Japan, AI could cause a lot of disruption, particularly in the job market. Studies show that AI will impact all sectors, and while women could be affected more over the next decade, men’s jobs could be at risk longer term. However, research appears to suggest that these job losses will be largely counterbalanced by highly skilled, highly paid jobs created specifically for these technologies with only a small number of these requiring past experience. This has the potential to increase average incomes, which benefits all levels of society – increased income leads to increased demand for goods and services, meaning jobs must be created to facilitate that demand.
In terms of HR, there needs to be smarter approaches to AI. 36% of HR functions have started to introduce AI technology, and only 14% have invested in the technology over the past 2 years. 42% of HR leaders recognise that AI and automation will be the largest transformation they face in the coming years, however the majority of leaders still feel uncertain and unprepared to use it. These technologies can be used to train employees more effectively and improve the recruitment process by accessing more useful data and revealing new insights. AI also allows for the automation of repetitive and time-consuming tasks, such as employee onboarding. Automating these processes benefits new employees, but also allows HR teams to focus on hiring and strategic work.
It’s clear that Artificial Intelligence will undoubtedly change some aspects of the workplace, but potentially for the better. It is important to consider how AI could benefit you in the long run.