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“Generative AI can have an immediate impact on the workplace with improved productivity, reduced costs, better data quality, and higher employee satisfaction,” claims Guy Waterman, VP of People Analytics, HCM Technology, and Innovation, Oracle. Oracle recently launched generative AI-powered capabilities in its human resource solution, Fusion Cloud Human Capital Management.
Waterman speaks exclusively to ET’s Rica Bhattacharyya on the advantages and difficulties of generative AI in a talent-rich country like India.
What advantages may generative AI have in a talent-rich economy like India?
“There (in India), we do not face a talent shortage. We are concerned with finding the optimum fit and projecting the ideal applicant. AI aids in the identification of candidates who might make a good match, whether it be in terms of experience, culture, team fit, or any other factor. It is much more crucial that we have the ability to assess potential team members in a talent-rich firm. The cost of committing a mistake can be substantially higher in a talent-rich environment than even in one where skill is in short supply.”
Are there any difficulties or moral dilemmas associated with generative AI, particularly in a talent-rich economy like India?
We’ve heard tales of talent surpluses in other fields, and these are not exclusive to India or other talent-rich regions. We can see that worries about intellectual property (IP) are rather common in the market for generative AI, and we are clearly addressing those. Since it’s rather simple to guard against someone putting stuff in, I’m not as concerned about it. You can stop particular forms of data from entering, which significantly reduces the risk.
We simply acknowledge the state of the market and are attempting to explain to our clients how they can take advantage of the advantages of generative AI, including increased productivity, decreased costs, improved data quality, higher transaction completion rates, and increased employee satisfaction, while still remaining in compliance with the relevant laws.
In the post-pandemic environment, when many firms have embraced various flexible working styles that have also sparked a wider use of technology, what role may generative AI play?
Automation is necessary for the hybrid world because we simply cannot send one person out to answer every query. The number of customer service agents required to assist our employees is starting to decline as a result of automation.
To prevent consumers from becoming lost in a process flow, we must streamline procedures, enhance employee experiences, and automate capabilities using the hybrid mode. We want them to concentrate on the creative aspect of the work.
We won’t ever allow AI to take over your position in the company. We must be flexible, and I want to be able to provide my leaders and employees with the finest knowledge possible so they can lead the workforce and assemble the best team possible. We want generative AI to assist the staff in concentrating on serving the clients and then responding to any changes we haven’t yet noticed.
Do you believe that generative AI may provide CHROs, HR executives, and professionals with new opportunities?
In the future, when strategic firms deploy AI in conjunction with other content, generative AI will be seen as a partner since these organizations will essentially have super-smart skills on staff that are available to their team.
Additionally, CHROs that are open to embracing new talents will discover that many members of the younger generations are really going to be able to accomplish a lot more with perhaps even less effort.
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