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Group 1 - AI in HRM

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32 views11 pages

Group 1 - AI in HRM

Uploaded by

Priya Varghese
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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ARTIFICIAL INTELLIGENCE IN HUMAN

RESOURCE MANAGEMENT
GROUP 1
24P137 Ashish Bahuguna
24P142 Dhruv Kaushik
24P151 Navya Rohatgi
24P154 Khushi Verma
24P164 Preity Chhokra
24P166 Priya Sarah Varghese
24P169 Rithik Misri
INTRODUCTION
OBJECTIVE
The objective of the report is to explore the multifaceted role of AI in HRM, shedding light on its applications,
benefits, and the challenges associated with its implementation. By focusing on critical areas such as talent
acquisition, workforce analytics, employee engagement, and performance management, the report highlights
how AI can drive efficiency and innovation within HR functions. The analysis also delves into the limitations of AI
adoption, providing recommendations to address ethical, operational, and financial concerns.

AI IN HRM APPLICATIONS
AI has emerged as a game-changing technology,
empowering HR professionals to:
• Automate routine tasks
• Streamline processes
• Focus on strategic goals
It’s potential in HRM lies in its ability to analyse vast
amounts of data, draw actionable insights, and automate
processes
SECONDARY RESEARCH
SOURCES

Research Industry Company Case Technology


Papers Reports Studies Provider

RESEARCH PAPERS
AI is believed to be able to replace administrative tasks in both HRM but also especially within the recruitment
process in the recruitment activities, intervening job applicant variable and the recruitment results (Johansson and
Herranen, 2019)
(Tong et al., 2021) research explores AI's theoretical application in employee performance
feedback. It empirically evaluates the quality of feedback (which may increase employee
productivity) and the employee perception of the AI from a field experiment.
(Ramesh Nyathani, 2023) believes that AI-driven HR analytics is not a destination but a dynamic journey. It
empowers HR professionals to navigate the complexities of the modern workforce, predict future workforce
trends, and create data-driven strategies for talent acquisition, retention, and development.
SECONDARY RESEARCH
INDUSTRY REPORTS
According to Gartner 38% of HR leaders are piloting, planning
implementation, or have already implemented generative AI
(GenAI), up from 19% in June 2023

According to a study by SHRM, AI helps match candidates to


roles with 85% accuracy

Automated CV screening saves time and improves hiring


accuracy by 67% as per PwC

According to BCG with the right mix of maturity, clearly defined


goals, and time, a balanced human and AI strategy could boost
HR productivity up to 30% in the not-so-distant future

75% of business leaders expect GenAI to drive changes in their


talent strategies in the next two years according to Deloitte in
2024
SECONDARY RESEARCH
COMPANY CASE STUDIES AND TECHNOLOGY PROVIDERS
 Nestlé is integrating LeapIn AI talent review that shows employees where there may be gaps between their
current skills and the skills they need to acquire to progress to the next role

 Unilever partnered with Pymetrics, a specialist in AI recruitment, to create an online platform, which means
candidates can be initially assessed from their own homes, in front of a computer or mobile phone screens. It
leverages HireVue’s AI technology, a virtual interviewing system which analyses responses not just for content,
but also for nuances like word choice, tone, and facial expressions, and links them with qualities seen in high-
performing employees.

 IBM Consulting and IBM watsonx offer a unique combination of AI technology and talent expertise to help
organizations upskill their workforce and operating models for the future

 General Electric (GE) introduced an AI-powered HR application called ‘Humantelligence,’ which is an AI


recruitment tool that evaluates the cultural fit of a potential hire by assessing their motivations, work style, and
behaviors
METHODOLOGY
SECONDARY RESEARCH PRIMARY RESEARCH
This report adopts a robust secondary research approach,
combining qualitative and quantitative data to provide a
comprehensive analysis of AI’s impact on HRM
• Research Papers were a primary source of METHOD: SURVEY
information, offering insights into theoretical
frameworks, technological advancements, and TARGETED RESPONDENTS: HR
practical applications of AI in HR PROFESSIONALS AND EMPLOYEES
• Industry reports from globally recognized organizations such
as Deloitte, PWC, and Gartner provided valuable data on TOTAL RESPONSES: 52
emerging trends, best practices, and data that highlight the
growing importance of AI in HR functions
• Case studies were analysed to understand the
practical implications and outcomes of AI
implementation in HRM. These case studies
included organizations across various industries
that have successfully integrated AI into their HR
processes
DATA
DEMOGRAPHICS SECTORS

29 HR PROFESSIONALS (55.7%)
17%
23 EMPLOYEES (44.2%) 29%

21%

36 FEMALES (69.2%) 23%


10%

16 MALES (30.7%)
Technology Finance Healthcare Manufacturing Other
DATA ANALYSIS
Which HR functions do you think AI can benefit What role do you see AI playing in HR in the
the most? future?
Training and Development 7
Complementing Human De-
Employee Engagement 10
21% cision-Making
Performance Management 14
Replacing Manual HR
Recruitment 21 54% Processes Entirely
25%
Limited to Data Analysis and
Reporting
Additional feature that the respondents would
like AI to bring to HR processes:
•Personalized Career Coaching What concerns you most about AI in HR?

•Workplace Inclusivity Tools High Implementation Costs 12

Lack of Human Interaction 8


•Detailed Performance Feedback
Job Displacement 12
•Real-Time Training Adjustments
Data Privacy 20
CONCLUSION
 The research underscores AI’s transformative potential in HRM, illustrating how it revolutionizes core functions
such as recruitment, employee engagement, and performance management
 Workforce analytics tools powered by AI provide granular insights into employee
performance, skill gaps, and development needs. These tools enable organizations
to create personalized learning paths and succession plans
 AI systems automate repetitive tasks, significantly reducing recruitment time and
improving process efficiency
 AI-driven platforms like chatbots provide real-time support to employees, addressing
queries, offering guidance, and capturing feedback
 Despite its benefits, AI adoption faces hurdles such as data privacy concerns, as HR
systems handle sensitive employee information. Workforce resistance due to fears of job
displacement and the high costs associated with AI deployment are additional
challenges that require attention
REFERENCES
Ramesh Nyathani, 2023. "AI-Driven HR Analytics: Unleashing the Power of HR Data Management,"
Journal of Technology and Systems
"Transforming Human Resources Using Generative AI." Published 2023.
https://www.bcg.com/publications/2023/transforming-human-resources-using-generative-ai
"Stepping Into the Future: The Rise of AI and Automation in HR." Published by Deloitte Insights.
https://action.deloitte.com/insight/3975/stepping-into-the-future-the-rise-of-ai-and-automation-in-hr
"AI Adoption in HR Is Growing." Published by SHRM.
https://www.shrm.org/in/topics-tools/news/technology/ai-adoption-hr-is-growing
Johansson and Herranen, 2019 “
The Application of Artificial Intelligence (AI) in Human Resource Management: Current State of AI and Its Impact on t
he Traditional Recruitment Process”
THANK YOU

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