Employing cutting-edge tech allows businesses to improve HR processes, attract and retain top staff.
By Johan Steyn, 15 May 2024
Published by BusinessDay: https://www.businesslive.co.za/bd/opinion/columnists/2024-05-15-johan-steyn-ai-and-the-future-of-work--transforming-sas-hiring-landscape/
There are new opportunities and threats in SA’s dynamic economic landscape brought forth by the fast incorporation of artificial intelligence (AI) into conventional hiring practices.
Knowing how AI will affect different industries is becoming more important as technology advances at a dizzying pace. The revolutionary potential of AI to improve recruitment efforts and propel economic growth necessitates that business executives co-ordinate their strategic endeavours with this technology.
AI is having a game-changing effect on the workforce. It improves efficiency by standardising processes and opens up new job opportunities while making some old ones obsolete.
Finding qualified candidates for open positions in STEM fields (science, technology, engineering and mathematics) is becoming increasingly difficult. Despite the critical need for experts in these areas, a severe scarcity of candidates is threatening to undermine businesses’ ability to create new innovations and sustain competitive advantages.
More and more organisations are putting money into developing their own talent to fill this skills gap. These companies are developing comprehensive training programmes to provide their employees with essential AI competencies because they understand the necessity of investing in their workforce. In addition to teaching their workforce how to use today’s technologies, these companies also focus on helping them become more flexible so that they can keep up with the ever-changing landscape of technology.
This helps businesses get their employees ready for the constant changes that are common in a world where every industry is transforming into a technology-driven enterprise. Companies can be nimble and responsive to the demands of the global market by strategically investing in human resources.
A major shift has occurred in the hiring process with the introduction of AI to automate applicant reviews. This automation makes the hiring process faster and more efficient, lessens the effect of human bias, and makes it easier to handle a bigger pool of candidates.
On the other hand, issues arise when AI is relied upon too much. Because AI is impersonal, it might be difficult to build meaningful relationships with prospective employees, which could impact brand loyalty, and algorithms could miss out on highly qualified applicants who don’t match strict requirements.
Ethics
With the use of AI in the recruitment process, questions of ethics are becoming more pressing. It is critical to address concerns such as data privacy, algorithmic prejudice and job displacement if we want to keep recruiting processes that are inclusive and ethical. A dedication to openness, equity and the welfare of all parties involved — including job applicants and employees — is necessary to traverse the ethical terrain of AI in recruiting.
Employing cutting-edge tech allows businesses to improve HR processes, attract and retain top staff, and be ready for anything the future throws at them. Leaders in organisations must stay educated and take the initiative to improve these areas with AI.
As we navigate the intricate web of challenges and opportunities presented by AI and other technological advancements, the role of corporate executives becomes crucial. To effectively lead their organisations through these rapid changes, they must commit to continuous education and awareness. Staying informed about the latest technological trends, understanding their potential effects, and integrating this knowledge into strategic decision-making are essential practices for any leader.
Ultimately, by fostering a culture of learning and adaptability, executives ensure that their organisations remain competitive and relevant in an ever-evolving global marketplace.
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