What is Machine Learning?
ML is the use and development of computer systems that are able to learn and adapt without following explicit instructions, by using algorithms and statistical models to analyse and draw inferences from patterns in data. Machine learning helps improve productivity, reduce operational costs, and reduce the amount of time spent on repetitive, mundane tasks. Additionally, it can improve employee retention rates by enhancing the employee experience. AI can streamline employee hiring and resume analysis, offer important data insights, and identify skills gaps in the workforce, analyse engagement survey data and answer employees' frequently asked questions.
Predictive Analytics in HR
Predictive HR analytics digitally digs through data to extract, dissect, and categorize information and then identify patterns, irregularities, and correlations. HR predictive analytics enable HR to forecast the impact of people policies on well-being, happiness, and bottom-line performance. An example is the role it can play in preventing expensive employee turnover, prescriptive analytics to produce recommendations for training strategies that increase employee efficiency, strategies that boost employee engagement, etc.
AI chatbot for HR
An HR chatbot is a virtual assistant that simulates human dialogue with candidates and employees in order to automate recruiter/HR tasks like interview scheduling, candidate screening, answering simple candidate queries, such as the application status or basic questions about the company culture, policies, etc. A chatbot can introduce short satisfaction surveys or ratings into different interaction points or conversations. They also can reach out more frequently and proactively to employees, eliciting feedback on performance, policies, skills training, and reminding them of meetings, events, appraisals etc.
