AI in HRM Report
AI in HRM Report
AI in HRM Report
SUBMITTED BY
AMANULLAH SULTAN- 2023206
ATHARV ANAND- 2023214
MANTHAN KALAMKAR- 2023227
RIYA TIWARI- 2023271
SHIVANGI SINGH- 2023280
HUMAN RESOURCE MANAGEMENT | TERM II
Table of Contents
List of Figures
Figure 1- ARTIFICIAL INTELLIGENCE..........................................................................................2
Figure 2- DIMENSIONS OF HR..........................................................................................................3
Figure 3- IMPACT OF AI.....................................................................................................................7
TOPIC 1- ARTIFICIAL INTELLIGENCE AND HR
INTRODUCTION
In the dynamic and ever-evolving world of business, organisations are constantly seeking
creative strategies to improve their business and obtain a competitive advantage. The field of
artificial intelligence (AI) is undergoing significant transformation, affecting a number of
industries, including human resource management (HRM). This project delves into the
transformative impact of AI on HR processes, exploring its applications in recruitment,
employee engagement, and data analytics for decision-making.
An increasing amount of HR data is being produced in the cloud by humans and learning
machines collaborating, and using artificial intelligence analysis provides improved
understanding of how to implement and function. Any organization's ability to successfully
integrate people, process, and technology in order to produce transformative value at an
optimal cost is what determines its success. AI will contribute to the effective automation of
numerous back-office tasks for dependable HR service delivery and transactions.
Using artificial intelligence technologies in human resource management can result in greater
financial returns. Future advancements in human resource management will probably witness
a strong trend towards using AI technology to boost HRM's efficacy. In order to reduce the
difficulties and problems that HR professionals experience, this study investigates the
absence of AI in the field (Yawalkar, 2019).
Figure 2- DIMENSIONS OF HR
Human resource planning
HRM begins with strategic planning for human resources. Artificial intelligence technology is
used by managers as a backup method of decision-making that can carry out strategic
planning more thoroughly. First, global data needs to be collected and integrated with
internal and external data that already exists through the use of technologies such as
knowledge discovery and data mining. Once the information is gathered, we can evaluate,
predict, and adjust the company's management going forward and understand the rationale
behind the current HR stance. In the end, the statistics and modification features of the
intelligent decision support system are utilised to provide the report with the required data.
(Tambe, 2019).
Students can receive help from artificial intelligence technologies to automatically record
training data while they are being trained. Training managers can immediately learn about
training outcomes and save time by having the intuitive data's degree and effect of employee
learning analysed. Additionally, businesses can attain a quick and effective learning
experience by using voice technologies, learning material databases, and core algorithms. AI
instructors have the potential to greatly cut the administration and operation costs associated
with both online and offline instruction, in addition to increasing learning efficiency and
quality.
Performance management
To collect and assess information about workers' job performance, the performance
management system can be combined with the performance appraisal model. The intelligent
decision support system makes it possible to apply some scientific evaluation techniques—
like 360-degree performance evaluation techniques—more automatically and quickly. (Otley,
1999). The decision support system has been built to incorporate these assessment techniques
in order to efficiently tally the outcomes of staff evaluations.
With AI support, decision-makers can assess each indicator's performance, suggest
improvements for the indications that didn't work, create and apply workable new indicators,
and suggest upgrade strategies. Forecasting the future trend can also be used to create the
performance goals for the future.
Compensation management
Under the direction of organisational growth plans, establishing, allocating, and changing
employee compensation concepts, techniques, levels, structures, and aspects is the work of
compensation management, a dynamic management process. AI applications can contribute
to more equal pay management. It can create a regular computational model, mimic the
nervous system of the human brain, and merge several neural network nodes. Using big data
as input, an intelligent decision support system that forms a fair compensation evaluation
system can be created using the BP neural network technology.
Automated Sourcing and Screening: The first steps of hiring can be automated with
AI-powered technologies. These tools have the ability to filter resumes and cover
letters in order to find applicants who have the necessary training, experience, and
credentials. Recruiters may now concentrate on more strategic duties like fostering
connections with top talent and performing in-depth interviews, thanks to this
automation.
Skills Matching and Predictive Analytics: Artificial intelligence (AI)-enabled
technologies are able to examine social media accounts, resumes, and cover letters in
order to extract pertinent data and spot trends that suggest a candidate's fit for
particular positions. Employers can utilise predictive analytics to evaluate a
candidate's likelihood of success in a particular position, which aids in the hiring
process (Pandey & Khaskel, 2019).
Enhanced Interviewing and Assessment: AI is completely changing how businesses
perform assessments and interviews. AI-driven chatbots can conduct first interviews,
vetting applicants for prerequisites and offering early comments. AI is also capable of
analysing videotaped interviews to pinpoint behavioural patterns, cultural fit markers,
and essential abilities. This analysis can give hiring managers and recruiters insightful
information.
Automated Deployment and Talent Management: AI has the ability to automate talent
deployment processes including managing employee rotations, matching skills to
project requirements, and assigning personnel to projects. AI-powered solutions may
evaluate personnel data, project specifications, and company objectives to maximise
talent allocation and guarantee that the appropriate talents are available when needed.
Employee Engagement
Improved Employee Retention and Productivity: AI-driven insights into employee
sentiment and engagement can help HR professionals address potential issues early
on, reducing turnover and enhancing employee productivity.
Enhanced Employee Satisfaction and Well-being: Personalized interventions and
real-time feedback can contribute to a more positive and supportive work
environment, improving employee satisfaction and overall well-being.
Strengthened Employee-Management Relationships: AI tools can facilitate effective
communication between employees and managers, enabling timely feedback,
addressing concerns, and fostering a sense of connection.
HR Data Analytics
Finding Workforce Trends and Patterns: Artificial Intelligence (AI) systems are capable of
examining extensive HR data sets, encompassing employee demographics, performance
metrics, and engagement indicators. This allows for the identification of trends and patterns
that would be challenging to discern by manual means.
Predictive modelling for workforce planning: Predictive models driven by artificial
intelligence (AI) may project future labour requirements by analysing market trends,
historical data, and organisational growth strategies. HR professionals may more efficiently
plan for hiring, development, and training thanks to these forecasts.
Data-Driven Talent Management: AI analytics can provide light on an employee's potential,
performance, and desired career path. With this data, one may create individualised talent
management plans, make the best use of talent allocation, and find prospects for succession
planning.
Figure 3- IMPACT OF AI
TOPIC 2- HR ANALYTICS AND BIG DATA
INTRODUCTION
Human resource (HR) professionals are realising more and more how important it is to use
data to make well-informed decisions that drive organisational success in today's data-driven
environment. HR analytics is gathering, evaluating, and interpreting HR data to learn more
about employee performance, labour trends, and the efficacy of HR initiatives. Big data,
characterized by its volume, velocity, and variety, encompasses a vast amount of unstructured
and structured data that can be harnessed for HR analytics.
https://www.forbes.com/
https://www.ibm.com/
https://www.oracle.com
MVV Yawalkar, 2019. A Study of Artificial Intelligence and its role in Human
Resource Management. Available at:
https://www.researchgate.net/publication/331596981_A_Study_of_Artificial_Intellige
nce_and_its_role_in_Human_Resource_Management
N Nawaz, 2020. How Far Have We Come With The Study Of Artificial Intelligence
For Recruitment Process. Available at:
https://www.researchgate.net/publication/335960597_How_Far_Have_We_Come_Wi
th_The_Study_Of_Artificial_Intelligence_For_Recruitment_Process
P Tambe, P Cappelli and V Yakubovich, 2019. Artificial Intelligence in Human
Resources Management: Challenges and a Path Forward. Available at:
https://doi.org/10.1177/0008125619867910
S Pandey and P Khaskel, 2019. Application of AI in Human Resource Management.
Available at: https://doi.org/10.35940/ijrte.D4585.118419