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From recruiting and retention to company culture and the latest in HR tech, HR Brew delivers up-to-date industry news and tips to help HR pros stay nimble in today’s fast-changing business environment.
JPMorgan Chase CEO Jamie Dimon made headlines Monday with a 61-page shareholder letter that touched on everything from Ukraine to China, from the earned income tax credit to DE&I. It was a puzzling document that left some wondering if the finance exec is eyeing political office.
The billionaire banker also pontificated on the rapid expansion of artificial intelligence, likening this new tech to “the printing press, the steam engine, electricity, computing, and the internet.”
“We are completely convinced the consequences will be extraordinary and possibly as transformational as some of the major technological inventions of the past several hundred years,” Dimon wrote.
AI at work is not new, but large language models (LLMs) and machine learning—think ChatGPT—have garnered prominent media headlines this last year, and corporate America is responding swiftly. For instance, Dimon told shareholders JPMorgan Chase created a chief data and analytics officer role for its operations team.
A number of companies, including Cloudstaff, a global remote staffing firm, have hired top execs to guide strategy when it comes to deploying new AI solutions.
AI tools are great for increasing workplace productivity and tackling arduous, repetitive tasks that can be easily done without much specific knowledge. But as HR Brew has reported, that might pose a problem for people just starting out, according to experts, who warn that this is the same sort of work interns and early-career employees perform to get their foot in the door and learn the ways of the business.
“Professionals clearly understand that AI will be a transformative force in their industries,” Mary Alice Vuicic, CPO at Thomson Reuters, told HR Brew in October. “It will not replace the human element at the higher level, but it will drive significant change, a complete rethink of areas like apprenticeship, training, education.”
Employees need to upskill, both to use the AI tech and also improve soft skills like communications and teamwork that will enable them to maximize productivity gains. Slack’s Workforce Lab found that employees also need more guidance using AI at work.
AI will improve performance management, one CEO told HR Brew last month. How managers and HR assess performance will be data-driven, and AI tools can offer leaders insights and recommendations to boost productivity. Meanwhile, how companies evaluate performance will likely shift as well.
Yeah, Jamie…AI is indeed poised to transform nearly every aspect of work, and how people professionals facilitate thriving organizations.