Despite the rise of digitalization, the current economic recession has led companies in all areas, not only technology, but also consulting, to make numerous layoffs. Thanks to AI, the dynamics could be transformed and used to evaluate the skills of existing personnel and obtain maximum productivity from them..
In this sense, Deloitte is working hand in hand with AI to moderate hiring growth, contain layoffs and seek maximum efficiency from your staffautomating tasks and focusing on more specific and higher demand actions.
In fact, Deloitte incorporated 130,000 employees this year, although it also had to notify thousands of possible job layoffs in the US and the United Kingdom as a result of the business restructuring caused by the slowdown in demand. Currently its workforce is close to 460,000 peopleafter the hiring at the beginning of the year.
If a recent Gartner report is taken as a reference, it can be concluded that AI can help reduce hiring times by up to 70% and increase the quality of people selection by up to 90%. Candidate data would be analyzed in a more objective and precise way than if done by humans, eliminating bias in personnel selection.
The power of AI at Deloitte in the workplace
Thanks to AI, employees’ skills are being assessed and plans are being created to reposition them in specific roles. This optimization of the workforce aims to find a balance between demand and staffing levels.. In fact, Stevan RollsGlobal Chief Talent Officer of Deloitte, has publicly expressed the company’s commitment to the efficiency and effectiveness of talent management until finding the perfect balance between layoffs and hiring.
Deloitte is aware that AI allows automate repetitive tasks, saving time and personnel (preparing documents for internal meetings or collecting data). In this way, Generative AI could contribute to create coherent content and responses based on training large volumes of data.
From now on, AI makes it possible to achieve a more agile, resilient and adaptable workforce, without the need for major layoffs, adjusting to the current high market demands. Deloitte’s example could be extended to other large organizations seeking to achieve full success.
Generative AI in the field of hiring
Generative AI has burst into HR departments to such an extent that it is capable of classifying resumes, generating interview questions, updating job specifications and cataloging candidate skills, significantly improving both productivity and efficiency in the work environment. According to a report prepared by Ideal, 58% of candidates are willing to interact with chatbots in the initial phase of personnel selection.
In no case, despite the fear of professionals, could Generative AI replace human work. Nevertheless, Poorly designed algorithms have come to discriminate against minority applicantsalthough based on greater knowledge of the ethics of AI and the participation of diverse talents in the development of AI, one could opt for a more inclusive future.
It is striking that job seekers are beginning to use AI tools to speed up their job search, beyond the technology sector. The fact of democratize Generative AI offers equal opportunities for all job seekers, regardless of their sector. So, platforms like LinkedIn They have incorporated Generative AI so that their users can optimize their profiles and improve their job prospects.
Deloitte’s role with respect to AI in Spain
In May we learned the news that Deloitte and OdiseIA They will be in charge of creating the State AI Regulatory Agency, which will channel the ethical impact of AI and its potential dangers. Thus, specific software will be created so that companies could self-assess the security and quality of their AI, rigorously monitoring all their projects.
Both entities presented an offer valued at 1.6 million euros. The objective is for the agency to be fully operational in the first half of 2024, governed at all times by the provisions of the European Artificial Intelligence Regulation. Their headquarters will be in La Coruña and from there they will produce periodic reports for their configuration and to test the European regulations prior to their approval.