Enhanced Decision-making Capabilities

In 2023, employers began using AI to speed up HR processes such as hiring, onboarding, and training. As technology evolves, it will increasingly assist with career coaching, performance reviews, and identifying opportunities for internal growth. Additionally, it’s decision-making capabilities depend on robust cybersecurity to protect corporate information.

Enhanced Productivity

By 2023, chatbots and virtual assistants started handling tedious tasks, answering customer queries, and improving the employee experience. A McKinsey & Company analysis in 2023 estimated that these technologies could automate 60% to 70% of employees’ time. They also developed workplace-specific algorithms to identify tasks needing immediate attention.

Increased Attention to Legality, Ethics, and Transparency

In 2023, organisations had to focus on legal developments around Artificial Intelligence and understand the implications under current laws. Noncompliance could lead to costly legal proceedings, fines, penalties, and reputational damage. Employers must ensure AI systems are transparent and fair. This involves understanding potential biases in datasets, the sources used to train them, and the ethical ramifications of decisions. Employee training is crucial for the safe and ethical use of technology. A Salesforce study found that 62% of workers lacked the skills to use AI safely and effectively. With AI evolving rapidly, businesses might not yet have well-defined AI strategies. Employers should prioritise developing formal AI policies by 2024 to comply with evolving legal, ethical, and transparency standards.

Increased Emphasis on Hiring Based on Skills

The rise of AI is expected to change employers’ expectations and required skills for employees in 2024 and beyond. Employers will prioritise candidates with soft skills like communication and problem-solving, as well as technical skills like data analysis and AI comprehension. New roles such as algorithm trainers, data curators, and AI ethicists may emerge.

Incorporating AI into workplace processes is inevitable, but it raises ethical and legal questions. Employers must monitor trends through 2024 and beyond to stay compliant and competitive.