Gen AI: Moving from the Hype to Reality. How is this evolving in Human Capital?

The Gen AI market continues to evolve. In Q1 and beginning of Q2 2024 we have seen several cloud and AI companies actively developing customized models for the enterprise market due to the high-demand of Gen AI services and capabilities.

Highlights:

• Anthropic launched a new paid plan for enterprises.
• Meta released Llama 3.
• Google launched Gemini and introduced a new AI video creation tool called Google Vids.
• Snowflake launched its own LLMs model.
• Amazon invested $2.75 billion in Anthropic.

🔍What are leading companies doing?

🔸Companies are conducting art of the possible workshops on Gen AI, aligning on use cases, creating awareness campaigns, educating and letting employees to experiment with Gen AI. 

🔸HR teams are working closely with business leaders to articulate and plan for workforce impact.

🔸Learning and Development teams are designing and developing upskilling programs to prepare the workforce for AI adoption.

🔸HR Business Partners are working closely with head of business functions and assessing operating models and organizational structures.

🔸HR CoEs are exploring ways to streamline HR operations and service delivery powered Gen AI.

🔸Chief Data Officers are extremely busy and working on building a data foundation, governance and standards to have “high quality-business ready data”

🔸C-Suite is discussing ethical considerations and responsible AI.

💡How is HR Tech ecosystem is responding?

I spoke with some HR technology founders this week and they are all working on new products and services. They are also having conversations directly with AI/LLMs companies.

Microsoft Copilot is getting a lot of traction in the enterprise market with employees using it for meeting summarization, draft job descriptions, and customize emails and this is just the beginning.

I see more copilots coming to the HR technology market: digital workers working alongside employees. However, for GenAI to bring meaningful value to companies, they need to customize vendors’ LLMs with their own enterprise data, and do the internal work to prepare their data for that integration.

Highlights:

• Workday is actively integrating generative AI capabilities and emphasizing on responsible AI.
• SAP and Nvidia are collaborating to build and deliver SAP Business AI.
• Atlassian launched Rovo, its new AI assistant.
• Cornerstone acquired Talespin
• Atlas copilot was launched in April.
• Beamery expanded to workforce planning and skill intelligence.

➡What lies ahead?

In the next 2 years we will a massive expansion and implementation of tailor-made HR copilot solutions.

Disruption will continue and HR plays a key role in shaping Gen AI strategy, fostering collaboration, enabling leaders and employees and ensuring a smooth transition toward AI adoption.

Let’s see how this unfolds.

The one-pager below provides a high-level view and where to start.

I’d love to hear your thoughts! Share your perspective.

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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.