How the 4th Industrial Revolution & Emerging Technologies are Changing the Face of HR

In today's rapidly evolving environment, also known as the fourth industrial revolution, digital transformation and employee development are ongoing components of a company's ability to become and remain competitive over the long-term. The 4th industrial revolution is characterized by disruptive technologies, artificial intelligence, virtual reality, robotics and the internet of things, all of which are dramatically changing the way we work and live.

The Impact of the 4th Industrial Revolution

Organizations, to be more successful in this new era will have to adapt learning environments. They will have to shift from development programs to an employee demand-based activity in order to address the adaptive challenges thrown up by the industrial revolution and emerging technologies. The biggest challenge would be a multigenerational workforce. Employers are presented with the challenge of developing and upskilling the workforce with a broad spectrum of knowledge about new and emerging technologies. The interest of this workforce in and acceptance of these technologies would also vary widely.

Transformation in the area of HR

Prior to the 1980s HR was better known as Personnel Management and was mainly associated with hiring, training, and administration. Today HR cumulates a wide range of tactical and strategic responsibilities which extend from talent management to business partnerships and shared operational services.

This transformation has been the result of external pressures like globalization, technology, socio-economic changes and changes in beliefs and value systems. Organizations have become more focused on the impact of people, motivation and engagement as a differentiating factor in the race for success and sustainability.

Evaluating the Impact of AI

The workspace has been redefined by AI. There is a need for a new set of skills to be defined and made available to the organizations of the future. This challenges the HR function to operate in a more complex, interconnected, unpredictable, and evolving environment. AI impacts HR from three core perspectives:

●       AI used within HR itself

●       AI used in the business HR services

●       AI used in wider society/ in a global context

 HR talent management channels have already been disrupted. Obsolete traditional training models have caved in. Workforce diversity is greater than ever before and includes people between the ages of 23 to 70. An unprecedented mix of culture and values is what challenges globalization which can be achieved only through the blending of established norms of the organization with those of local, remote and dispersed teams.

HR and Technology

As of now HR already uses technology for:

●       Workplace decisions supported by people analytics by using big data

●       Mobile 24/7 access through listening devices, personal productivity measurements, and personalized learning

●       Selection and recruitment processes: These have been redesigned as individually targeted vs socio-economic group targeted, targeted norms vs generic norms, localized validity vs generalized validity.

HRM Online Courses

To understand the impact of the 4th Industrial Revolution and emerging technologies on HR it is advisable to sign- in for HRM online courses. Certified HRM online courses like the one offered by XLRI would give a lot of clarity on the subject. A certified online course from XLRI is most suited for working professionals.

The aim of HR in the future is to realize the full potential of the partnership between knowledgeable, intelligent, fully engaged, and motivated employees with the power of technology and artificial intelligence.