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JULY 2023

The Corner News

presented by CornerStone Staffing
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How AI Will Reshape Your Workforce

"The only constant is change."

For many, this phrase has never been truer than at this very moment. Our shared landscapes of business, technology, and humanity are warping and shifting at a blinding pace. The cause and culprit are, of course, artificial intelligence (AI).

The progression of AI has already caused major changes in how companies operate and manage their employees. Many people see AI as a potentially limitless tool for streamlining operations and improving efficiency.

But where does that leave your workforce? What impact will AI have on hiring and jobs? Who will have the opportunity to reap the benefits of AI - and who will be left behind?

Only time will answer these questions, but in this article, we'll try to get a head start. From automation to predictive analysis, we'll explore some of the key ways that AI is already being put to work in the workplace and what it means for employers and employees.

Will AI Be a Force Multiplier for Your Business or Threaten Its Survival?

When it comes to AI reshaping your workforce, the question isn't if, but how. It's become unavoidably clear that AI has the potential to revolutionize every aspect of our lives, from healthcare to communication to transportation.

But what about your organization? How will it adapt to our new, highly automated reality?

It's not wrong to say that AI has the power to dramatically impact traditional business by automating many of its core functions. But that doesn't mean game over. Organizations that leverage AI tools such as chatbots and predictive analysis will have the opportunity to provide more personalized service and make more strategic decisions. Meanwhile, those who ignore the new technologies may risk falling behind their competitors.

In short, in this new age of AI, businesses - and, more importantly, humans - will do the same thing they've been doing for centuries:

Adapt.

How AI Will Transform the Workforce

While AI will inevitably replace or change many jobs, its projected adoption will increase demand for certain skills:

  • Jobs that require analytical abilities are likely to increase - even the most advanced machines are no match for human creativity.
  • Professionals with backgrounds in statistics and data analysis may be in high demand.
  • Individuals with high emotional intelligence and strong critical-thinking skills will remain indispensable as more mundane, repeatable work is completed by AI.
  • At least short term, skills in prompt engineering will be useful to interact with artificial intelligence.

Customer service is another arena expected to feel AI's forceful impact. Bloomberg recently reported on a Fortune 500 company that adopted AI early on. They found that:

  • The technology helped customer support representatives see a 14% increase in productivity.
  • Their least-skilled workers could complete their work 35% faster.
  • New agents also improved rapidly, with agents who have AI access and two months of experience outperforming those with six months of experience and no AI tools.

With chatbots handling routine queries, human service providers can be freed up to solve more challenging issues that require empathy and creative problem-solving - after all, it may be a while before we can teach machines that the customer is always right.

AI is also being used to:

  • Improve quality control and quality assurance.
  • Monitor and improve safety and security.
  • Accelerate product design and improvement.
  • Predict maintenance requirements to improve equipment uptime.
  • Optimize supply chain management.

This is just a sampling of the many ways in which AI is impacting the way we work across industries. As workplaces evolve alongside technology, we'll all have new opportunities to learn and grow - opportunities that we can, and must, find a way to embrace.

Opportunities AI Offers for Improving Talent Access and Acquisition

While algorithms are able to sort through vast amounts of data more efficiently than humans, the companies that will likely see the best results are the ones that use AI not as a replacement for human expertise, but as a tool to help their hiring and recruitment teams.

Here are a few examples of what this might look like:

  • Augmenting human abilities: By automating mundane tasks such as data entry, scheduling meetings, or managing emails, AI frees up time so individuals can focus on more strategic and human sides of hiring and staffing a business.
  • Enhancing recruitment efforts: With AI tools like chatbots and virtual assistants that use natural language processing (NLP) technology, recruiters can engage with candidates around the clock while more accurately assessing skills and potential fit.
  • Streamlined interview processes: Virtual interview software allows employers to automate early-round interviews, meaning that by the time leaders meet with candidates, they have a more qualified selection to choose from. This saves time for both parties - no more endless back-and-forth scheduling - while providing valuable candidate feedback.
  • Better diversity hiring practices: Some AI tools enable HR teams to more effectively analyze data patterns on diversity hires from past campaigns. This helps them adjust their strategies accordingly for future talent searches, promoting more equitable hiring practices throughout organizations.

Staffing Agencies Combine Cutting-Edge Tech With a Human Touch To Improve Results

Throughout this evolution, staffing agencies leverage human expertise and thoughtfully chosen technology to improve talent access and ensure organizations achieve the best results. Here are a few ways they do this:

  1. Human expertise: Recruiters with extensive industry experience can offer hiring managers valuable insights, including industry trends, salary benchmarks, and candidate availability. This expertise can help organizations hire more successfully.
  2. Networking: Staffing agencies leverage extensive networks of candidates and employers to quickly connect the right people with the right opportunities.
  3. Applicant Tracking Systems (ATS): By automating repetitive tasks, including resume screening and interview scheduling, a staffing firm's ATS frees clients to focus on priorities like candidate engagement and talent management.
  4. AI-powered tools: AI-powered tools can analyze resumes, job descriptions, and other data points to identify the best candidates for a job. Staffing agencies use these tools to save employers time and make more objective hiring decisions.

Overcoming AI Threats to Your Workforce

The rapid development and adoption of emerging AI technologies have sparked heated debates. While ignoring AI's opportunities for improvement and innovation would be shortsighted, ignoring its threats is equally irresponsible.

One of the most pressing challenges presented by AI is job displacement. As technology continues to advance, certain tasks currently performed by humans can, and will, be automated through AI. This doesn't necessarily signal universal layoffs, however. The most successful companies will:

  1. Develop a clear AI strategy, carefully evaluating where and how AI should be responsibly and ethically adopted.
  2. Help their teams adopt a lifelong learning mindset. As the rate of change continues to increase, knowledge will become obsolete even faster.
  3. Invest in upskilling and reskilling their employees to ensure they are equipped to adapt to new roles and responsibilities. It will be crucial for employers to be patient and empathetic with their employees during this time as they adjust to unprecedented changes in the roles they've spent years mastering.
  4. Use the newfound productivity enabled by AI to enhance their employees' quality of life. For example, automation's ability to help workers accomplish more in less time may very well translate to fewer working hours and shorter work weeks. It's also likely that businesses that lead the charge in this area will enjoy higher employee satisfaction and loyalty.

Another threat posed by AI is its potential impact on company culture. As we saw with the rise of remote workplaces, new technological advancements will inevitably bring changes in how people work and interact with one another. Companies must ensure they have policies in place that promote healthy communication and collaboration among employees as more duties and processes become impacted by automation.

While these threats should not be taken lightly, it's wise for businesses to approach them proactively rather than reactively. By embracing change and preparing their workforce accordingly, companies can stay ahead of the curve and thrive in an increasingly digital world.

How To Achieve Success in the Age of AI

Just like when that radioactive spider bit Peter Parker, AI has seemingly given businesses from all industries immense new powers overnight. But, as Uncle Ben told Pete, with great power comes great responsibility. Business leaders must ensure they're leveraging AI's opportunities to improve access to talent and jobs while simultaneously doing their part to mitigate the threats AI poses to our collective humanity.

Thankfully, overcoming these challenges isn't impossible. By staying informed on emerging trends and working proactively to address potential issues head-on, businesses can harness the full potential of AI without sacrificing their employees' well-being.

One way to accomplish this? Partner with a staffing firm like CornerStone Staffing. With decades of experience fostering positive human relations in the workplace, staffing and recruiting professionals are at the forefront of navigating our complex future. A staffing firm's team can leverage their empathy, experience and expertise to help your organization carve a successful new chapter where people and AI collaborate to improve not just business objectives, but human lives.  Contact us today!

 
 
 

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