With potentially groundbreaking HR technology solutions emerging, we’re seeing a tech boom that is fundamentally reshaping the way we work — and how we think about HR.
According to the 2019 HCM Trends report from The HR Federation, a network of leading HR market analysts, global HR technology venture capital has topped $3.1 billion this year, more than triple the amount invested in 2017. While there’s a range of technologies, some of the most interesting — and disruptive — examples are powered by artificial intelligence and automation.
“AI and machine learning are opening the door to a whole new world of possibility for the human capital space,” CareerBuilder CEO Irina Novoselsky says. “Our research shows that more than half of HR managers feel AI will become a regular part of HR within five years.”
Novoselsky says her company has developed AI technology that can build a job description or resume in less than a minute, and also tell companies which candidates match jobs and are likely to respond. “What is exciting is that we’re just at the cusp of what this technology can do,” she says.