Artificial Intelligence and Contingent Workforce Management

PRO UnlimitedBy PRO Unlimited 1 week ago
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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, cognitive computing and predictive analytics offer intriguing possibilities when considering the future of contingent workforce management.

What Is Artificial Intelligence?

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:

  • Machine learning: Using algorithms to parse data, learn from it, and then make a determination about something in the world.
  • Cognitive computing: Self-learning systems that use data mining, pattern recognition and natural language processing to mimic the way the human brain works.
  • Predictive analytics: The practice of extracting information from existing data sets to determine patterns and predict future outcomes and trends.

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.

Offering New Perspectives on Contingent Workforce Management 

When applied strategically, advancements in artificial intelligence will help businesses improve workforce effectiveness by shedding new light on common workforce questions. Examples might include:

  • Using unbiased, empirical candidate data and past company workforce data to understand the attributes that are most important to a hiring manager to determine which candidates are most likely to be successful hires.
  • Helping to understand the best time to initiate a job requisition to drive the quickest time to fill, lowest cost and strongest talent.
  • Evaluating both enterprise-wide labor data and external data to determine the appropriate method, time and location to source talent to optimize quality and cost by role.

While the possibilities are intriguing, 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.” Given our unique integrated MSP/VMS 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 info@prounlimited.com.

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.

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