Written by Kara Deyermenjian
December 14, 2017
Despite what some people may think, Artificial Intelligence (AI) isn’t just Alexa ordering replacement paper towels for you, or telling you she doesn’t understand what you’re saying. It’s a sophisticated technology that enables computers to mimic and improve upon human thoughts and behaviors, and can help you do your job exponentially more efficiently.
Examples of AI technologies that have migrated into our everyday life include: Netflix with their use of big data to personalize viewing recommendations, and Airbnb with their use of machine learning to show hosts the predicted demand for their rental properties. Although AI may not have made its way into your HR workplace yet, it could be the missing link to bring your processes to the next level.
According to research by Deloitte, only 10% of HR departments have access to advanced analytics – which means 90% of HR departments are missing out on critical insights that only proactive, AI-driven analytics can provide.
Automation is key for busy HR professionals – there are many repetitive, manual processes in the day-to-day that could be reduced to save time. This alone is a solid case to invest in AI. However, AI boasts many other qualities that can help with automation and improved overall job efficiency.
AI can bring your compensation plan up a notch. To attract and retain top talent in today’s market conditions it’s critical to be able to make the right offer, every time. To do so, you must identify compensation at any level, and for any job, even filling the gaps in data that may not exist anywhere else in the market. Pricing accuracy is the first step to a world-class workforce and AI is the key that unlocks your competitive edge.
Download our white paper to further understand how organizations across the country are using market data, internal analytics, and strategic communication to establish an equitable pay structure.