SUMMARY
Generative AI products like ChatGPT and Bard are gaining popularity, attracting multi-billion dollar investments, and opening new possibilities across industries
In HR Tech, generative AI chatbots can streamline recruitment, assist in performance management and improve employee engagement by reducing response times and enabling data-driven decision-making
Despite challenges like accuracy, empathy, bias and creativity, integrating generative AI chatbots with HR technology platforms holds significant potential to transform HR functions
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OpenAI-owned ChatGPT is reaching new heights of popularity every day. Microsoft has made a multi-billion dollar investment in this generative AI product, and it has already started integrating ChatGPT into its own tech stack. Google has also accelerated its efforts in the field of generative AI with LaMDA and Bard. Many other generative AI products are also sprouting up for various use cases, opening up new possibilities in almost every industry.
Today, you can easily find 20-30 generative AI products for various use cases. Generative AI can be leveraged for almost every kind of content, including graphics, videos, audio, programming codes and gaming, among other use cases. While every business department is experimenting with chatbots like ChatGPT, let’s talk about the impact on the HR Tech sector.
Understanding Generative AI
It is the technology behind ChatGPT, Bard, and other similar chatbots. It is an AI technology that uses a set of learned patterns or rules to generate new, previously unseen data. The most recent technological advancements, such as machine learning algorithms and deep neural networks, enable generative AI technology to generate new outputs, such as images, music or text.
ChatGPT generates new responses based on the data used to train it. Natural Language Processing (NLP), a branch of AI, assists the chatbot in producing responses that are very human-like. Other chatbots use similar mechanisms to generate responses.
The Implications Of Chatbots For The HR Tech Industry
Various HR technology products can leverage generative AI chatbots to make HR processes more efficient. It’ll require integration between the chatbot, HCM platforms and products like ATS (Applicant Tracking System), DWS (Digital Workforce Solution) and PMS (Performance Management System), among others.
Here are some use cases of chatbots in HR technology:
Recruitment
Efficient chatbots can already generate job descriptions with simple prompts like “Write a job description for an SEO executive.” This capability can be used by zero-touch ATS to provide completely effortless job postings across multiple platforms.
Chatbots can conduct initial rounds of interviews in entry-level positions if used creatively, and integrated HR technology products can be used to collect and evaluate candidates’ responses. Other tasks that chatbots can perform include answering candidate questions, sending personalised emails, and assisting HR with interview questions.
Performance Management
HR managers can use generative AI chatbots to create performance review templates, develop KPIs, and provide guidance on dealing with performance issues. The chatbot responses can also be used to create content for courses and training materials. In this way, the integration between a generative AI chatbot, a performance management platform and an L&D platform can make the HR department more productive with fewer resources.
Employee Engagement
The turnaround time from the HR department for employee queries can be reduced significantly by using generative AI chatbots. It will improve employee approachability to the HR department as well as overall employee engagement and experience.
If a company already uses a chatbot to answer employee questions, incorporating generative AI technology would make it even more efficient.
Other Applications
The HR space can reap many other benefits from generative AI chatbots and their integration with HR technology platforms. For instance, making data-driven decisions for hiring and workforce management, improving employee retention via better engagement, facilitating separation with exit interviews and much more.
So, what could be the impact of generative AI chatbots like ChatGPT and Bard on the HR tech space? These chatbots, when integrated with HR technology products and platforms, can assist in many HR functions.
While the possibilities are huge, the impact of these technological innovations is yet to be observed. At the same time, challenges like accuracy, empathy, bias and creativity are still major hurdles in the adoption of chatbots powered by generative AI.
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