In today’s rapidly evolving environment, also known as the fourth industrial revolution, digital transformation and employee development are ongoing components of a company’s ability to become competitive over the long-term. The 4th industrial revolution is characterized by disruptive technologies, artificial intelligence, virtual reality, robotics, and the internet of things, all of which are dramatically changing the way we work and live.
The Impact of the 4th Industrial Revolution
Organizations to be more successful in this new era will have to adapt to learning environments. They will have to shift from development programs to an employee demand-based activity to address the adaptive challenges thrown up by the industrial revolution and emerging technologies. The biggest challenge would be a multigenerational workforce. Employers are presented with the challenge of developing and upskilling the workforce with a broad spectrum of knowledge about new and emerging technologies. The interest of this workforce in and acceptance of these technologies would also vary widely.
Transformation in the area of HR
Prior to the 1980s, HR was better known as Personnel Management and was mainly associated with hiring, training, and administration. Today HR cumulates a wide range of tactical and strategic responsibilities, which extend from talent management to business partnerships and shared operational services.
This transformation has been the result of external pressures like globalization, technology, socio-economic changes, and changes in beliefs and value systems. Organizations have become more focused on the impact of people, motivation, and engagement as a differentiating factor in the race for success and sustainability.
Evaluating the Impact of AI
The workspace has been redefined by AI. There is a need for a new set of skills to be defined and made available to future organizations. This challenges the HR function to operate in a more complex, interconnected, unpredictable, and evolving environment. AI impacts HR from three core perspectives:
- AI used within HR itself
- AI used in the business HR services
- AI used in wider society/ in a global context
HR talent management channels have already been disrupted. Obsolete traditional training models have caved in. Workforce diversity is greater than ever before and includes people between the ages of 23 to 70. An unprecedented mix of culture and values is what challenges globalization, which can be achieved only through the blending of established norms of the organization with those of local, remote, and dispersed teams.
HR and Technology
As of now, HR already uses technology for:
- Workplace decisions supported by people analytics by using big data
- Mobile 24/7 access through listening devices, personal productivity measurements, and personalized learning
- Selection and recruitment processes: These have been redesigned as individually targeted vs. socio-economic group targeted, targeted norms vs. generic norms, localized validity vs. generalized validity.
HRM Online Courses
To understand the impact of the 4th Industrial Revolution and emerging technologies on HR, it is advisable to sign- in for HRM online courses. Certified HRM online courses like the one offered by XLRI would give a lot of clarity on the subject. A certified online course from XLRI is most suited for working professionals.
In the future, the aim of HR is to realize the full potential of the partnership between knowledgeable, intelligent, fully engaged, and motivated employees with the power of technology and artificial intelligence.