Why HR Should Get Ready for AI
Wages have become stagnate, productivity is falling and the talent pool is depleted. Most HR professionals believe that there will be humanoids in the workplace within the next dozen years. However, many do not have a working environment that is prepared for AI.
Artificial intelligence has been referred to as the “biggest commercial opportunity” in the economy today. HR is wary of automation and reluctant to make preparations for AI in the workplace. This may be partly due to the constant forewarnings of the obliteration of jobs. However, studies suggest that is not the case.
Stanford University conducted the One Hundred Year Study on Artificial Intelligence and came to the conclusion that AI will be viewed as a “radically different mechanism for wealth creation”. The study determined that AI will not replace jobs, but simply replace tasks. This will result in the formation of new jobs, which are at a reduced risk for automation. The Chartered Institute of Ergonomics and Human Factors as well as Deloitte believe that the foretold “AI jobs apocalypse” has not yet come to pass.
The Benefits of AI in the Workplace
On average, close to a third of the days at work in a single year is spent completing repetitive or administrative jobs. In addition, the services sector is on the verge of one of the greatest skills shortages in almost twenty years.
Another thing to consider is the fact that one of the biggest complaints that employees have is getting bored at work. In fact, this is the reason that many will be leaving their current jobs within the next year.
By introducing automation into the workforce to complete repetitive tasks, both real wages and productivity will experience a major boost. With productivity on a steady decline for the past few years, HR can no longer afford to evade the need to get ready for AI and the ideal place to start is with recruitment.