Artificial intelligence, machine learning, web 3.0, advanced analytics, and cloud-based HR platforms are fundamentally redefining our world. To build a better future, leaders are actively transforming their status quo. Hence, we know going forward, new technologies will transform the way we communicate, analyse, and trade. To understand these disruptions better, #Rethinking about an innovative future is critical.
We sat down with Holger Mueller, Vice President and Principal Analyst, Constellation Research and Diana Wu David, Coach, Course Creator, and Consultant at The Future Proof Lab, to look into the future of business and work during People Matters’ exclusive pre-conference LinkedIn Live session. They discussed trends that created and continue to produce opportunities out of the disruptions in the HR world.
Artificial Intelligence and Blockchain are shaking up industries
Blockchain technology is perhaps best known for its role in making financial transactions secure. But this tech also eyed a landing in the human resources space and inevitably changed the way HR professionals handle large amounts of sensitive employee data and deploy various HR processes. That’s why Diana Wu David believes the high level of security for record-keeping makes blockchain technology a good match for the HR industry.
“I feel like blockchain is ground-breaking, not just because it’s more mainstream and accessible but because it allows us to disaggregate and to actually attach value to small tasks,” said David.
Holger Mueller, on the other hand, sided with artificial intelligence as he sees AI as the tech with the potential to revolutionise employee experiences in a variety of ways. It is also the most advanced and growing technology today because it automates and completes the majority of low-value HR tasks so that better attention can be given to the strategic scope of work.
“Artificial intelligence is making lots of progress, not just by making our lives better, but also making our professional lives better. Be it finding the right candidate or talent management, experiencing an upgraded and evolved condition for workers will contribute to the promotion of the value of producing better and faster outcomes,” explained Mueller.
However, when it comes to blockchain, Mueller feels it has not lived up to expectations. “As we approach new tech advancements, we ask whether blockchain is fulfilling its promise? If I would have been asked this question five years ago, I might have said yes. But, presently, we do not need data that can’t be modified when needed,” he added.
Machine Learning is here to stay
For HR leaders, it is necessary to gather, store, and process data. These also needs to be done in a short period because the data would quickly become irrelevant with passing time. According to the Vice President of Constellation Research, “With machine learning, HR is becoming faster and more responsive to dynamic scenarios, such as offering accurate, valuable, and actionable data points. That’s how we know MI is changing the HR game forever!”
Govern better and together with DAO
For the uninitiated, DAO stands for Decentralised Autonomous Organisation, which refers to a flatline company structure with no management. Diana Wu David, who is the Coach, Course Creator and Consultant at The Future Proof Lab, threw more light on the entity.
“While a traditional company is based on a rigid hierarchical management structure, much like a pyramid, within a DAO, which is a computer program with pre-defined rules, there is no such upper and middle management. Instead, there is an autonomous self-managed organisation with employees given significant authority. So it's not just the technology, it's actually the mechanisms by which people are deciding to become a part of a community,” she explained.
Are human resources technophobic?
Be it improving the employee onboarding process, supporting greater work-life balance or elevating well-being, technology is assisting HR to reshape the employee experience profoundly. However, some leaders are reluctant to adopt technologies. Not because it won’t help them automate manual tasks but because of the unwillingness to conform to a new system. Holger Mueller, Vice President and Principal Analyst, Constellation Research, think it’s because some ‘HRs are technophobic.’
“When it comes to HR technology, there's a fear of using tech and failing. Yes, the people department has reinvented itself to include mobile apps, analytics and cloud-based software and platforms. But it’s important to remember that even the most impressive technology is worthless unless employees actually use it,” said Mueller.
Overcoming tech resistance
It’s no surprise that businesses are adopting emerging technologies like cloud computing and SaaS marketing platforms. Hence, resistance toward new tech is natural. Diana Wu David and Holger Mueller think with the right strategies, you can help your employees not only adapt to new technology but also thrive with it. They shared some tips to make sure employees grow with new tech:
- Right learning attitude is key
- Adequate training
- Give reason to use new tech
- Communicate the benefits
- Celebrate success
Rethinking what's possible is a superpower
Now more than ever, rethinking is at the forefront among many leaders and decision-makers. Holger Mueller and Diana Wu David are no different.
“I always try to #Rethink ways to help people to create inspiring futures that matter. The key is to listen to what is required in that moment and make myself available,” shared David. Whereas, Mueller feels, “It's very important that we keep looking at what we do and how we do things. Learn from other people, get inspired, level up and don't forget to #Rethink what's possible.”
To create innovative solutions to problems with the help of experts and business leaders from some of the most progressive organisations in the SEA region, join us at Asia’s largest HR and WorkTech conference, People Matters TechHR Singapore 2022. It is happening at Marina Bay Sands on August 25.
Here you can #Rethink work dilemmas with new perspectives and bring forth innovative ways to overcome challenges. So, to get over your fears and learn from the best in the business, register Now!