By Sumit Sabharwal, CEO of TeamLease HRtech
The digital age has witnessed an unprecedented rise in the use of Artificial Intelligence, which is transforming the way businesses operate. Generative Pre-trained Transformer 4 (GPT-4) has recently created a buzz in the AI community as the most advanced generative AI tool. GPT-4 is gaining attention for its capabilities in multimedia communication, which can revolutionize the way businesses interact with customers, stakeholders and employees.
Along with the rise of generative AI, the corporate world is also going through another transformation. Gen Z is entering the corporate workforce. It is the most tech-savvy generation of the current age which grew up alongside the rise of the internet, and never experienced a world without smartphones, social media and on-demand streaming services. When compared with the millennials, the recent development in the field of AI will significantly enhance the employee experience of Gen Z workers.
For companies, integrating generative AI into their management systems can bring numerous benefits across various departments. Sales and marketing can use it for content creation, HR can use it for predictive and prescriptive analytics. Finance can use it for compliance and risk assessment. HR technology companies are embedding AI into every module of their HCM platforms, making it the main pillar of employee engagement and experience.
Although the impact of GPT 4 on HR is yet to be fully realized, its advanced capabilities are expected to improve output accuracy and speed compared to GPT 3. Generative Al will lead to higher employee productivity, better accuracy and automation in business functions, enabling employees to focus on more creative work. We can assume that Gen Z workers will leverage their creativity to utilize the AI resources in the best possible way.
Al in HCM platforms shall help with providing personalized communications, reducing the turnaround time for queries, providing virtual assistance for day-to-day tasks and reducing the mechanical workload for employees. Companies are trying to make digital HRM more efficient by using generative AI in combination with other modern technologies. For instance, TeamLease HRtech, one of the leading HR technology companies, is leveraging Node.js and Microservices with Vue.js along with generative AI to deliver the best-in-class employee experience.
In the long future, we will witness HR tech’s integration with health tech, robotics, quantum technologies, VR, wearable tech etc. The amalgamation of all these technologies will bring the next level of intuitiveness to the HR technology platforms. As a result, Gen Z workers will be able to maximize their productivity while maintaining their health and overall wellbeing.
In conclusion, generative AI tools like GPT 4 are a significant advancement in the HR technology industry, providing more advanced capabilities to engage and retain Gen-Z workers.
Companies that embrace these technologies can improve their productivity and efficiency while enhancing the employee engagement and experience.