With the war for talent reaching new heights, businesses are looking for any edge they can get. For these companies, the idea of tapping into the power of the latest artificial intelligence advances is enticing. According to a recent study, 72 percent of business leaders consider AI a “business advantage” that will be fundamental to their operations in the future.
In this landscape, concepts like machine learning, predictive analytics and augmented reality offer intriguing possibilities when considering the future of contingent workforce management.
While artificial intelligence (AI) in its modern form dates back 50-plus years, the last decade has seen significant scientific strides toward the goal of creating “intelligent machines” that can perform intellectual tasks like a human. In short, artificial intelligence is generally defined as the theory and development of computer systems able to perform tasks that normally require human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages. Offshoots and subsets of AI include:
Harnessed correctly, artificial intelligence will enable businesses to make sense of massive amounts of structured and unstructured workforce data and make faster, smarter decisions that drive cost savings and improve talent quality.
When applied strategically, advancements in artificial intelligence will help organizations make better hiring decisions and more effectively manage their contingent workforces. Examples might include:
While the possibilities are intriguing, overall adoption of artificial intelligence remains in the early stages: Only 20 percent of respondents to a recent Harvard Business Review study reported using one or more AI technologies at scale or in a core part of their business.
Here at PRO, we believe one of the keys to unleashing AI’s potential is by combining it with human expertise – “augmented intelligence.” For more on the topic, check out our “AI and Workforce Management” fact sheet.
Given our unique integrated solution, PRO Unlimited is perfectly positioned to help businesses take advantage of the latest technological advances and optimize their contingent workforce programs. If you or a member of your team would benefit from a further discussion on how PRO is helping companies implement winning contingent workforce management programs globally, please contact a PRO representative at 800.291.1099 or email at firstname.lastname@example.org.
Disclaimer: The content in this blog post is for informational purposes only and cannot be construed as specific legal advice or as a substitute for legal advice. The blog post reflects the opinion of PRO Unlimited and is not to be construed as legal solutions and positions. Contact an attorney for specific advice and guidance for specific issues or questions.