75% of Organizations Anticipate Generative AI Will Impact Talent Strategies in Two Years

In the phase of technology evolution, generative AI will significantly affect talent strategies on a large scale. The latest survey indicates that 75% of organizations believe that Generative AI will guide their talent management and acquisition processes in two years. This will greatly transform how most companies manage their human resources.

Some sectors have already embraced generative AI. They believe that its ability to generate content and solutions autonomously is unmatched. Besides, Generative AI is critical in improving customer service and experience, proving a significant game-changer. With such ability, Generative AI will impact human resource departments on a large scale.

Transforming Recruitment and Talent

Generative AI is expected to affect recruitment processes. Recruitment processes have been expensive, tiresome, and time-consuming. However, with Generative AI, the process will be streamlined by automation. The technology will easily generate job descriptions, filter candidate profiles, and even screen applications, thereby reducing the complexity of the processes. Besides, generative AI can objectively analyze bulk data, identifying the most efficient candidates without biases.

Generative AI works faster while analyzing resumes than traditional methods. Human recruiters would go through each resume, which would mean more time. The human resource manager and the recruitment team may take longer when there are many applicants. However, with AI, all these processes are faster and more efficient, allowing the company to settle on the best applicant who fits the description.

You must rethink if you think generative AI will only be beneficial during the recruitment process alone. Technology has the potential to develop employees’ capacity on various fronts. The AI-driven tools can generate user-specific training and guide individual employees on career progression based on their preferences. Generative AI allows customization to ensure employees get the much-needed support for their growth. The employee’s satisfaction will guarantee high retention and productivity.

As Richard Potter, CEO & co-founder at Peak, puts it:

AI will change how we work and run our businesses in the same way that the introduction of the internet did. AI decision-making, in particular, has the potential to raise global economic output and is projected to add a staggering USD 13 trillion to the global economy by 2030.

Richard Potter, CEO Peak

Optimizing Workforce Management

Another area of impact for generative AI is workforce management. AI tools can forecast labour needs and staff turnover. This is a great move as it informs the manager beforehand of the needs. Also, through trends and pattern analysis, the tool will help managers make informed decisions that improve employee productivity.

Generative AI will continue to evolve, and within a short period, its ability will surpass its current potential. Organizations that are well-aligned and strategically positioned with structures will be successful. Their HR policies and structures will reap big rewards by leveraging AI’s ability.