Selecting your next binge-worthy Netflix drama. Tagging your mom in that Facebook-worthy family portrait. Optimizing your route to work to avoid traffic. Brushing your teeth.
What do all these activities have in common? Artificial intelligence. (Yes, even the dental hygiene!)
Surprised? Were you thinking of chess-playing computers and robot dogs? Or maybe a manipulative supercomputer? Real-life AI may not be quite so cinematic, but it’s significantly more powerful.
How powerful? One study predicts that AI will add at least $15.7 trillion to the global economy over the next decade, including $6.6 trillion in increased productivity. Current investments in AI development exceed $39 billion. But what about your business?
How can you leverage AI?
First, it’s important to fit the tool to the process. Different types of AI actually work better for particular tasks, so ask yourself how you’d like the machine to help.
Routine, repetitive tasks call for automation. Machines don’t get bored, which is great when you’ve got thousands of documents to search or hundreds of files to inspect.
When you could do it yourself, but a machine might do it better, you need Assisted Intelligence. Mary’s resume really pops – it’s much more fun to read than James’ plain Word document. AI notices that James has far more relevant experience, however, and sends him to the top of your pile.
If you’re using a machine to perform cool new functions that would be otherwise impossible, you’re leveraging Augmented Intelligence. Collating several decades worth of data to identify trends in employee retention would take a human… Decades. AI can do it in seconds and, even better, make predictions about who’s likely to stay or leave.
AI and HR: A Perfect Match?
If you noticed that all of the examples above involve the human resources function, give yourself a pat on the back. That’s because HR and AI go together like peanut butter and chocolate. HR professionals spend an enormous amount of time collecting, organizing and manipulating large quantities of data — all activities performed at higher speeds and with more accuracy by a computer.
But AI can also help with higher level tasks, especially decision-making around talent acquisition and employee promotion. Assisted intelligence and automation can help you screen for the best applicants, reviewing resumes and prioritizing candidates for review, but what about predicting success?
That’s where augmented intelligence tools like Cangrade’s Assessments really shine. Beyond assessing an applicant’s raw skills and experience, our tools provide insight into a candidate’s likely ‘fit’ with your organization by analyzing his or her development goals and identify his or her key competencies to.
AI also ensures that you make the best decision based on objective criteria, rather than subjective bias. Unlike humans, AI has no gut and no instinct clouding its judgment, so you can be sure that you’re moving forward only the best, most qualified candidates. That’s why Cangrade offers a Bias-Free Guarantee for all our AI solutions.
And don’t forget about automation! Integrating AI into your training and on-boarding processes means less time spent completing employee profiles and responding to common queries and more time tailoring your on-boarding process to set new hires up for success with personalized modules.
The takeaway? From reviewing documents to synthesizing turnover data to on-boarding new hires, Cangrade’s AI can help!