This week, I had the opportunity to participate in a workshop that explored the importance of HR adopting an economic and financial perspective.
Substantial investments are being made in converging large language models and robotics. Recently, a company named Physical Intelligence made an announcement. Formed this year by a team of experts in robotics and artificial intelligence, the company aims to develop software that will equip a broad range of robots and machines with advanced intelligence capabilities. This type of innovation will be further helpful for HR leaders to understand as it has far-reaching labor implications. I was fortunate to study an energy company doing a full-scale maintenance function through robotics. I realized that providing more intelligence to existing robots can be a significant area of focus for companies.
Back to the essence of the workshop we attended:
To develop a mathematical framework for applying AI in HR to optimize spending, we can break down the problem into several components:
- Automation of commonly outsourced tasks (for example, document translations)
- Full-scale automation through conversational AI (example benefits Q&A line automation through Gen AI)
- Development of new skills and generating hyper-scale efficiencies across the organization
We looked at the cost savings opportunities through two major aspects (Document Cognition and Conversational). For efficiency gains, we looked at the aspects of targeted hyper-skilling.
We’ll represent the overall cost savings and efficiency gains through these components using mathematical functions and variables. This framework could be a rudimentary ROI framework.
Under normal circumstances, we refrain from sending attachments via this email. However, on this occasion, we have included a comprehensive presentation on the application of AI in HR, with a particular focus on enhancing recruitment workflows. We hope you find the information in the deck valuable and insightful.
Overall, we are pretty excited about HR’s role under emerging circumstances. If we plan the initiatives correctly, we can accelerate transformation and adaptation and make the enterprises genuinely care for a great workplace. Thanks again for reading. Please stay safe; we will return with more insights next week.
