Transforming the HR industry with artificial intelligence and metaverse: Facebook’s announcement that it was embracing the metaverse and rebranding itself as Meta has caused a frenzy in the media. The workplace of the 2020s already looks very different from what we could have imagined a few years ago.
I think it would be fair to say that even though the term is becoming more popular, it is still shrouded in mystery and is constantly evolving. I would go as far as to say that it is a sort of “embodied internet.” According to Mark Zuckerberg,
Virtual Reality (VR) or Augmented Reality (AR) technology allows you to experience a virtual or augmented environment easily and to integrate it into your daily life. For instance, the LiDAR scanner on the new iPhone can scan the surroundings and render relevant content based on what it detects.
It is predicted by Gartner that by 2026, 25% of people will spend at least an hour on the metaverse every day. The metaverse has the potential to affect every aspect of our lives, including work. According to Gartner, by 2026, 25% of people will spend at least one hour in the metaverse every day. Work is a key reason for this trend.
Almost any type of world we can imagine will be accessible to consumers in the metaverse, as the digital world expands. We can relax, entertain ourselves, shop, or socialize over a long distance through virtually any consumer space we can imagine. A digital twin of a Gucci purse sold for a higher price than its real-world counterpart was sold last year by Gucci as part of The Gucci Garden experience to sell virtual products. Unbelievable!
There are at least four major ways in which the metaverse is expected to reshape the world of work: new immersive team collaboration methods; the rise of digital, AI-enabled colleagues referred to as ‘digital humans,’ the development of a metaverse economy involving new employment roles, acceleration of the learning and skill acquisition process through virtual and gamified technologies.
Take a moment to imagine a world in which you could converse with your colleagues on the beach, take notes on your meeting while floating in a pool, conduct virtual job fairs, hold virtual weddings or teleport from Mumbai to Delhi without even leaving your office. There is no limit to the scope of the metaverse.
Contents
Transforming the HR industry with artificial intelligence and metaverse
The various touchpoints between employees and the organization show that a generation of tech-savvy employees is anticipating a digital-first experience, such as:
Engagement of employees
HR industry with artificial intelligence
The use of sentiment analytics can help companies understand the true pulse of their employees. As ‘senti-meters’ listen and identify their diverse employee groups, it is possible to develop an employee experience that is highly personalized.
Onboarding and recruitment
HR industry with artificial intelligence
It is important to build a great employer brand by combining artificial intelligence and human experience. Research indicates that talent acquisition is an area where companies see major measurable and immediate results in reducing time-to-hire, increasing productivity, and providing seamless and intuitive onboarding experiences for candidates.
It is possible for artificial intelligence to make the most time-consuming tasks in HR into a faster, more accurate one, thus driving employee commitment to the organization.
Monitoring and evaluation of performance
HR industry with artificial intelligence
Boosting employee performance can be achieved by creating AI-driven processes, continuous feedback mechanisms, and 360-degree feedback loops that link manager outcomes with the right notifications.
A total rewards program
HR industry with artificial intelligenceHR industry with artificial intelligence
The modern employee desires choice in all aspects of her work life. Using an AI-based digital rewards platform where employees can sign on individually and choose from a wide array of benefits, employees will have the option of selecting the benefits that best suit them. These benefits will be suggested according to factors such as the employee’s life stage, past behaviors, lifestyle preferences, etc.
Operations in Human Resources
HR industry with artificial intelligence
In the context of HR administration, the use of AI-driven tools makes it easier for human workers to focus their efforts on more value-adding activities, such as payroll administration and benefits administration, invoicing, customizing workflows, and configuring policies.
Development of Learning and Performance
HR industry with artificial intelligence
With artificial intelligence, students have an opportunity to learn through practice and to engage more effectively through immersion in games and the use of “quest-based” problem-solving techniques.
Collaboration and teamwork
HR industry with artificial intelligence
Innovative solutions that help counter the social disconnectedness of remote working and video meeting fatigue with new levels of social connection, mobility, and collaboration.
Developing new skills
HR industry with artificial intelligence
AI will become increasingly dependent on insights related to human behavior as mundane tasks are taken over by machine learning. Unique human skills will become increasingly in demand. The Behaviour Analyst position, for example, is responsible for analyzing employee behavioural data, such as performance, personal, and environmental information, to assist in improving employee satisfaction, productivity, cross-company collaboration, and employee well-being.
Artificial intelligence (AI) advances, along with autonomous animation, allow us to create lifelike, emotionally responsive ‘digital humans’ through techniques such as expression rendering, gaze direction and real-time gesturing. As a result, digital humans are taking on roles such as skincare consultants, real estate agents, and educational counsellors.
There are many new jobs that may be created in the metaverse that we cannot even imagine today: avatar conversation designers, “holoporting” travel agents, a new category of workers who work 100% in the metaverse, metaverse security officers, etc. In order to build new capabilities, HR leaders need to develop a long-term learning and development strategy which is focused on the future.
Within the next two years, approximately 58 percent of businesses will employ this technology, according to the World Economic Forum. Human resources will likely be implementing a number of high-tech employee touchpoints, but they must ensure that the human touch is not completely eliminated by balancing any counter-effects through the right implementation.
HR industry with artificial intelligence
It is common for any new technology to be criticized for its cultural shifts. On the one hand, predictions are being made about the demise of human employment as a consequence of widespread automation. However, human roles will become increasingly important in the future with unique human skills, such as problem solving, critical thinking, and creativity.
It seems as though the Metaverse is poised to become one of the most significant breakthrough technologies of all time, despite the rapid pace of technological advancement. In the current age of rapid technological progress, it may seem as though we are approaching a future filled with more questions than answers. Despite the futuristic appearance of this way of life at the moment, it is already on its way, and Human Resources must prepare to deal with it.