Generative AI Paving Way For Workplace Transformation
Despite artificial intelligence (AI) having been around for a few years, the influx of Open AI’s ChatGPT skyrocketed the usage of generative AI globally. This data drained technology uses simple prompts for the production of creative output, whether for a resume, interview or an assignment. Open AI’s research predicts that 80 per cent of employee jobs could be negatively impacted by artificial intelligence, hence, to combat such repercussions, organisations must adopt and leverage the benefits of AI within their human capital function, transforming it into a game changer across industries.
A Mercer report accentuated that 57 per cent CEOs intend to incorporate AI automation and redesign work to reduce organisational dependency on people. Correspondingly, a McKinsey report in July 2023, highlighted the potential of generative AI in reshaping multiple facets of the human resources, specifically hiring, onboarding and performance management. This upcoming technology could help augment the workforce by limiting the time spent on performing general administrative tasks, creating streamlined communication pathways through chatbots and virtual assistants, enriching customer interactions, and also fostering accelerated decision making. Thus, as reported by Goldman Sachs and PricewaterhouseCoopers respectively, such implementations are projected to lead an annual overall increase in organisational productivity and effectiveness by approximately 1.5 per cent supporting workforce management as a result.
In March 2023, Beamery launched ‘TalentGPT’, the world’s first generative AI for HR technology, aimed at radically simplifying and redesigning user experience. Additionally, major companies including Oracle, Amazon, and PayPal are already leveraging generative AI for hiring employees and conducting other administrative work.
Conversely, generative AI is at a nascent stage, whereby its susceptibility to error is evident due to its lack of underlying logic. Additionally, artificial intelligence bears the potential of exacerbating prevailing patterns owing to the absence of DEI-conscious development, thus necessitating the need for careful monitoring and testing for fairness to effectively mitigate potential risks. Although AI-powered algorithms make the hiring and retention process for organisations more convenient, they also carry a risk of discriminating those with disabilities. Furthermore, existing employees harbour apprehensions towards AI for being a disruptive force, particularly following the COVID-19 pandemic and recent job cuts resulting from inflation, which created an emotional riptide and caused heightened levels of stress and anxiety among employees. Nevertheless, presenting AI as a tool to assist them can counter resistance and facilitate its smooth integration in the future of work.
The integration of generative AI undoubtedly presents remarkable opportunities for the modern workplace, however, addressing its challenges is essential to ensure a transition for employees and uphold ethical practices within industries.
