Insights
Using AI in HR: Key Considerations for Human Resources Executives
Posted August 15th, 2024 in Articles
Companies of all sizes are finding ways to leverage artificial intelligence (AI) in their operations. This includes using AI for human resources (HR) purposes. From screening job applicants to providing training and support and from gathering data to making decisions about placements and promotions, AI has enormous potential to enhance, streamline, and improve the HR function.
But, using AI in HR presents some unique risks as well. As a result, an informed approach to adopting AI tools is essential. Here are some key considerations:
Is Your Company’s Workforce Prepared to Embrace AI?
Some people are more receptive to AI than others. This is especially true when it comes to sharing their personal information and handling matters related to their livelihood. As a result, for companies that are thinking about implementing AI tools in their HR functions, a key preliminary consideration is whether—and to what extent—this is likely to be palatable with their workforce. While AI may be the way of the future, some companies may need to think about taking incremental steps toward eventual broader deployment.
Which AI Tools Make Sense for Your Company’s Human Resources Operations?
While there are lots of AI-based human resources tools on the market, not all tools make sense for all companies. Along with size and scope considerations, companies must also consider how they can effectively integrate AI-based HR tools into their current systems and operations.
What Legal and Regulatory Requirements Apply?
Several states have recently enacted omnibus data privacy laws, and many other states are considering laws that specifically address data privacy and other concerns related to AI. Before licensing AI-based HR tools, companies should ensure that they have a clear understanding of all pertinent legal and regulatory requirements.
What Protections Can (and Should) Your Company Put in Place?
When licensing AI-based HR tools, companies should also consider the protections they will need to have in place. This includes not only external protections (e.g., software license terms) but also internal protections vis-à-vis their employees. Updated policies, procedures, and employee handbooks may all be necessary for companies that are transitioning HR functions to AI-powered or AI-enhanced platforms.
How Else Can Your Company Leverage Artificial Intelligence Going Forward?
Finally, when seeking to invest in AI-based HR tools, companies should also think about all of the various other ways they may be able to leverage the power of artificial intelligence going forward. By all indications, AI is here to stay, and companies may be able to achieve cost savings and other efficiencies by taking a broad-based approach to investing in AI.
Schedule an Appointment with an HR Consultant at Mithras Investments
Do you have questions about investing in artificial intelligence for HR (or other) purposes? If so, we can help you make informed, strategic, and forward-thinking decisions. To schedule an appointment with an HR consultant at Mithras Investments, call 305-517-7911 or tell us how we can help online today.
