A new study says that the Generative I market in human resource (HR) will grow at a CAGR of 15.4% from $413 million in 2022 and cross $1 billion in 2032.
Generative AI is popular in the human resource sector because it can help automate a number of time-consuming and labor-intensive tasks that are involved in hiring and handling a workforce.
The firm’s study said that when it comes to how AI is used in human resource, marketing and hiring take the lead. When it comes to deployment, the Cloud-based group has 68% of the market. The most important part of the technology section is machine learning. In terms of location, North America is the most important, with 47% of the income. APAC is expected to have the best CAGR of any area.
The growth of the market is caused by several things. Its technology is improving quickly. For example, solutions that help companies hire talent, keep employees engaged, and get the most out of their staff are getting more complicated.
At the same time, as HR tries to improve speed and accuracy, technology is being used more and more. generative AI systems can be used to automate tasks like checking resumes, matching candidates, and setting up interviews.
Human resource offices are also looking for ways to give their workers more unique experiences. Generative AI can help make things like job titles, training materials, and performance reviews that are unique to each person.
AI systems also help companies deal with DEI issues by making it easier to get rid of bias in hiring choices and job descriptions. Lastly, AI is appealing to companies because it can lower training costs and make sure workers follow all the rules.
Visier just put out a creative AI-based digital helper that makes it easy to talk to Visier People. Paycor, meanwhile, launched a tool that uses AI to create job descriptions. This tool is meant to “optimize” talent acquisition by finding suitable people from different backgrounds. Fountain bought Clevy, a company that makes talking AI technologies, to make it easier to hire hourly workers.
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