HR Technology & Generative AI capabilities

More than 75% of companies are looking to adopt big data, cloud computing and AI in the next five years according to the WEF (The Future of Jobs Report 2023)and 81% of companies are planning to adopt new education and workforce technologies by 2027. 

On the other side, we have seen a lot of activity around Generative AI, skill ontology, and go-to-market partnerships to provide new services/offerings to assist companies in developing an enterprise strategy enabled by AI to unlock business value. 

In the last three weeks, I finished more than 20+ conversations with HR Tech vendors to understand their new offerings powered by Generative AI. The one-pager below connects Generative AI capability (per functional area) with early adopters in the HR Technology vendor ecosystem.

Highlights

• Recruiting is the functional area with more than 50% of the capabilities currently being deployed and/or in production to be released this 2023. 
• Job description creation and summarization is the common capability being developed by technology vendors listed below. 
• Candidate communication is enhanced with generative AI (digital chatbot assistants are available to analyze intents/descriptions and generate content and/or propose activities) 
• Skill Intelligence has a lot of potential around predicting, assessing, and recommending skills. I have doubts that vendors (at this stage in technology) can build skill taxonomies since every company and industry is very different. 
• Conversational Analytics and Workforce Insights (analyze and/or generate insights in a narrative form and build dashboards) 

What is the Impact? 

• Clients are looking for a market perspective around generative AI to drive revenue growth, to increase efficiency and productivity and to find new ways to speed enterprise transformation. 
• Technology adoption is a main driver for enterprise reinvention. This capability will require new skills, changes in structures/jobs, talent, and new ways to go-to-market to serve customers. 

Final Thoughts 

• Vendors listed in this one-pager are a representation of the HR Tech market. They are not the only ones bringing these capabilities to clients since the market is evolving constantly. 
• To select a vendor, a deep HR technology evaluation and selection will be required. Work with a consulting company to define your end-to-end strategy. 
• Skill intelligence and/or Taxonomy is not solved only with a technology platform. The process is very complex and starts off with identifying organizational capabilities, roles, job levels, market data, change management, etc. 
• Generative AI development will keep evolving and maturing over time (as they are deployed with clients and algorithms learn from new data sets) 
• Generative AI will completely change the HR Technology ecosystem in terms of offerings, use cases, and acquisitions. 
• To unlock the full potential of Generative AI, it needs to be integrated in your HR Technology stack (avoid creating silos solutions) 

Is this something you see in the marketplace as well? I would like to hear your thoughts

More to come! Stay tuned.

Note: All views expressed in this article do not represent the opinions of any entity whatsoever with which I have been, am now, or will be affiliated. My opinions are my own.