Engagedly Releases ‘State of Artificial Intelligence (AI) in Human Resource Management: A 2023 Report’, unveiling the power of AI in shaping the future of HR.
Engagedly, the leading AI-powered cloud-based software for Performance, Learning & Development, and Employee Engagement solutions, is thrilled to announce the publication of its groundbreaking report titled “State of Artificial Intelligence (AI) in Human Resource Management: A 2023 Report.” This research aimed to gain a deeper understanding of how AI can help prepare the current workforce for the future of work.
The report reveals valuable insights about AI adoption in HR across a variety of industries based on extensive research. According to this research, AI adoption in HRM is growing rapidly, automating repetitive tasks, improving decision-making processes, and improving the overall employee experience.
Artificial intelligence has become ubiquitous across a wide range of industries due to its accessibility, automation capabilities, efficient data analysis, and improved productivity. Currently, AI is used in almost every industry around the world, with a significantly higher adoption rate.
A significant surge of interest in artificial intelligence is seen in human resource management. A key point of the report is that AI adoption in HRM has a rapid return on investment (ROI), which results in its rapid adoption. The global AI adoption rate stands at an encouraging 21% as more companies recognize the advantages of AI for managing their workforce.
This report examines how artificial intelligence (AI) is transforming the HR management space. Global HRM leaders are adopting AI to drive transformations in HRM, with 45% incorporating AI for HRM.
Moreover, it discusses how AI is contributing to efficient and productive HR management. 65% of respondents reported that AI improved productivity and efficiency in their HR departments, with performance management, employee engagement and satisfaction, training and development, recruitment and talent acquisition, and employee inquiries among the top five functions that AI has significantly impacted.
Several major impediments to AI adoption in HRM are discovered in this report. The survey revealed that many respondents expressed primary concerns regarding data privacy, with a notable 50% identifying it as a major issue. Other impediments to AI in HR included a shortage of qualified employees, increased cybersecurity risks, and low employee confidence in AI. In addition, 42% of respondents indicated that automation would eliminate jobs, while 32% anticipated that AI would create more jobs.
“As a direct outcome of Engagedly’s ‘State of Artificial Intelligence in Human Resource Management: A 2023 Report,’ we gain a profound understanding of AI’s transformative influence on shaping the future of HR,” said Sri Chellappa, CEO and Co-Founder of Engagedly. Sri also added, “This is a validation of our efforts to bring effectiveness in Talent management processes with Marissa AI to build a future ready workforce”
The report delves into the intricacies of AI in HRM and discusses the following:
- The impact of AI on different HR processes
- The future prospects of AI in HRM
- Employee optimism toward AI
- How employees can maximize AI’s potential
- Policies that govern AI use in HRM
- Ethical and policy issues associated with artificial intelligence management
- The challenges associated with implementing AI in HRM
Engagedly presents the comprehensive “State of Artificial Intelligence (AI) in Human Resource Management: A 2023 Report,” offering profound insights into the progressive advancements of HRM technology and their far-reaching implications for businesses globally. With an increasing number of companies embracing these cutting-edge technologies, it becomes imperative for organizations to grasp their profound impact, enabling them to equip themselves proactively for the future of work.