 "computer power, AI, artificial intelligence")
Three out of four business professionals believe that artificial intelligence (AI) and human resource (HR) functions will coexist, states Keka's Report, an HR tech platform for small- and medium-enterprises (SMEs).
The survey states that over 90 per cent of HR practitioners were worried about the ethical implications of AI in HR. Following the survey, Keka launched a report titled "HRs as Change Agents 2023".
The press release stated: "The report underscores the worries of over 90 per cent of respondents about artificial intelligence ethics in HR, particularly issues of privacy and bias. It remains a prominent concern for HR professionals navigating this transformative landscape. Amid the predominant ethical concerns about AI in HR, three out of four business professionals believe AI and the HR function will coexist."
The report stated that 32 per cent of professionals believe that more understanding of people analytics among HR professionals is required to improve their ability to present persuasive cases. It further showed that 25 per cent of organisations utilise people analytics for recruitment and 21 per cent for employee engagement. Around 55 per cent of respondents believe their people analytics endeavours are effective. The survey showed that 31 per cent of HR professionals believe opportunities for growth and advancement are the most important.
The press release further stated: "Only 30 per cent of business professionals believe that HR actively engages in business discussions, with 75 per cent finding it challenging for them to acquire business acumen. The report introduces the concept of HR acumen fabrics, which includes aspects like financial literacy and market awareness. The report also identifies significant challenges in employee retention, including competitive compensation (31 per cent), a lack of career development opportunities (18 per cent), and maintaining a positive organisational culture."
Vijay Yalamanchili, founder and chief executive officer (CEO) of Keka, said, "Empowering HR professionals with technology and insights is at the core of Keka's vision. This report is a testament to our commitment to providing HR professionals with the knowledge and tools they need to navigate the ever-evolving HR landscape. It discusses the importance of aligning HR values with business goals and institutionalising purpose throughout the organisation. Further, this report contains advice for HR professionals to build trust, assess passion, and explore options when working with others."
The report states that HR professionals can enhance their business acumen through cross-functional projects, mentorship, workshops, conferences, online courses, certifications, and reading industry publications.
