Aditya Malik, Founder ValueMatrix.ai and a mentor with the Nasscom DeepTech Club.
1. Will ChatGPT take over jobs in the HR space?
Based on the ongoing trends in HR technology, with artificial intelligence and machine learning finally kicking in, the outlook of the HR space is changing dramatically. Most human resource companies have already leveraged the artificial intelligence boom. Firms use algorithms to analyze massive data from online career profiles and other skills databases, helping recruiters find candidates whose applications might need to appear.
As an AI language model, ChatGPT is designed to assist and support human users in various tasks and activities, including HR. ChatGPT can automate some human tasks but, fortunately, or unfortunately, cannot replace the human touch.
HR involves a wide range of activities that require human judgment, empathy, and decision-making skills, which currently cannot be replicated by AI. These activities include employee relations, conflict resolution, performance management, and talent development, which require a deep understanding of human behavior and emotions.
While AI can help with certain aspects of HR, such as automating routine tasks, analyzing data, and providing insights, it cannot replace the uniquely human qualities and skills essential to the HR profession and hence, will never be able to replace HR space; rather, it will enhance it.
- Pros and Cons of ChatGPT
ChatGPT has been useful for advancements across segments. No doubt It has gained momentum since its launch in November 2022. But like every technology, it has several pros and cons.
One advantage of using this AI tool, which makes it an effective way to handle a high volume of inquiries, is that it can take multiple languages and conversations simultaneously. The easy access with 24×7 availability and effective communication is prominent out of all. A personalized experience is given while looking out for an answer with an accuracy of the current happenings; it has made life easier for everyone requiring quick assistance.
Cons that could diminish its value include the possibility that it gives biased answers and cannot deal with challenging problems. There is no human empathy, and it has a limited understanding of certain concepts. This tool lacks creativity and has reliability concerns as the data provided is not always reliable. It has case-sensitive information which can be leaked, causing harm to the public at large.
ChatGPT is a powerful tool with several benefits, but it is important to consider its limitations and potential drawbacks before fully relying on it.
- What does the future of Hiring space look like?
India has been emerging post-pandemic with disruptive technologies. With new startups entering India creating more development opportunities in the technology space, new models are expected to make their way into the workforce, boosting the hiring space. While looking at the future, the value of Global Hiring as an industry is roughly $300B, according to a recent report. It is also predicted that up to 55 percent of companies in India will use HR technologies based on AI/ML within the next 10 years. This shows that the hiring potential has positive effects with the advancements of these AI-based models. The use of metaverse and AR could be used for engagement and talent acquisition. By 2030 this market will grow more, and as new startups emerge, hiring will grow more.
- What is the importance of human intervention in AI?
Despite the enormous advancement in technology, AI can never replace humans in HR. We can see that the present-age startups are realizing this and are beginning to create a perfect blend of technological solutions and human intervention to retain the human touch in HR.
For example, applicant Tracking Systems (ATS) will do better with human intervention than when it is fully automated because there are ample chances of glitches due to malfunctions. For instance, formatting in the software can lead to performance lags. Therefore, systems like that help in tracking candidate applications and screening resumes do require human intervention.
With human intervention, one can annotate data to correct false assumptions made by automated systems and its common knowledge that technology fails to establish a personal connection with the candidates. This calls for mandatory human involvement in interviews, especially when the candidate might feel nervous or vulnerable. One cannot expect AI to consider candidates’ emotions and respond with empathy. These examples help us understand the importance of integrating personal human interventions with technological solutions in HR.
- How can AI’s use be limited? And why should it be?
AI can be perceived as super intelligent but lacks emotions. We simply can not expect AI to show emotional attributes, which purely drive the processes in a field like Human Resources. Emotions are neither accurately expressed nor perceived by AI, which, in its current form, is prone to yielding biased results that could severely impact an organization and its people.
Everything evolves with time and, in some cases, could do more harm than good. Therefore, it’s essential to keep a check on AI with regulations. However, two challenging fronts for organizations worldwide remain for who should regulate the technology and on what basis. Especially when our world still has sects that do not fund the worldly view. These questions indeed require a deep long look and a neutral viewpoint.
Today, the pace of innovation, primarily related to AI, is overtaking even Moore’s law, which weighs that the number of transistors on a microchip doubles every two years to accommodate the upheaval.
At ValueMatrix, we believe in valuing human skills and believe that the human touch has become more valuable than ever.
