By Morgan McMurray, Program Associate, Aspen Digital
In recent years, headlines have been rife with horror stories about the impact of artificial intelligence (AI) on human resources (HR) work. From discriminatory outcomes that led Amazon to halt the use of automated recruitment tools to several corporate data leaks involving sensitive employee information, the narratives paint a grim picture. Some experts even predict that AI, far from being a job creator, will make it harder for people to secure employment. What’s more, the challenges of educating HR professionals and the workforce they serve about AI’s intricacies loom large.
At Aspen Digital, we wanted to dig deeper. Working with the Mastercard Center for Inclusive Growth, we spoke with the experts in the field to uncover the true impact of AI on their work and the workforce they support. There are many applications of AI in HR, but to get concrete about the specific opportunities and tradeoffs, we delved into one aspect of the employee experience where HR professionals are actively considering applying these tools: worker financial security.
Financial security — the ability to live comfortably and pay necessary expenses — affects quality of life and job performance. When it comes to its intersection with emerging technologies, what we discovered surprised us: despite the ominous headlines, AI development in this space is limited and adoption rates are low. While this slow progression is driven by legitimate concerns such as automating bias and data privacy risks, that doesn’t mean that all AI is bad or will cause negative effects. What HR professionals need are resources to guide their decision-making so they can make informed choices about where technology is appropriate and where it’s not.