Human connection in an age of artificial intelligence

Bank of America partnered with the Massachusetts Institute of Technology AgeLab to conduct in-depth interviews with HR leaders across a variety of industries to understand the role artificial intelligence plays in their current work and how they see the future of HR evolving as new AI technologies emerge. We found that HR leaders are already embracing AI tools and resources, especially for daily administrative tasks. HR leaders view AI as an assistant, a timesaver and a tool to improve their effectiveness and quality of work.

Current AI use is particularly widespread in the recruitment space, while HR leaders also identified abundant opportunities to use AI technology for onboarding, training, benefits and compensation oversight and performance assessment processes. While there was a high level of excitement and optimism for the future role of AI in the HR space, HR leaders highlighted important cautions organizations need to consider before growing their AI capabilities.

This paper discusses the following:

• Current AI use among participants
• Recruitment
• Onboarding, training and development
• Benefits and compensation
• Performance assessment
• Takeaways for building out AI capabilities for human resources
• MIT perspectives on how to approach AI integration in the workplace

Read the full paper

Read our paper for deeper insights into both the impacts and benefits of utilizing AI in Human Resources, and how we expect its role to expand in the future.

Implementing AI for HR related tasks can assist in producing speed, precision, and insight to everyday processes for human resources teams. From screening resumes to scheduling interviews, AI can assist by automating repetitive, manual tasks while increasing overall efficiency –– freeing up time for HR professionals to focus on more strategic initiatives or employee engagement.

In addition to task automation, AI can quickly deliver more extensive workforce insights by identifying patterns in employee data that boost efficiency and support better decision making. Whether its improving talent retention, enhancing professional development, or refining workforce planning, AI provides actionable intelligence that helps HR leaders make smarter, data driven choices.

Finally, generative AI can support content creation by helping HR professionals create materials such as job postings, training guides, policy summaries and templates for performance reviews.

The two biggest hurdles organizations should be aware of are bias and discrimination, and data protection and privacy.

Bias and Discrimination

One of the most critical concerns is bias and discrimination: if the data that AI systems are trained on contains historical biases, those same patterns can influence hiring or performance decisions in unintended ways. As there is currently no guaranteed way to create a bias-free algorithm, human oversight and diversifying data used to train AI can help identify and alleviate these biases.

Data Protection and Privacy

AI must be implemented with clear guardrails regarding data privacy and employee transparency. When it comes to building trust, it is essential that your employees understand that their data is secure, understand how their data is used, and that organizations comply with constantly evolving regulations.  To protect employee and applicant data, organizations must ensure that their security systems meet the highest standards by developing stringent protocols for data storage before implementation.

HR leadership should be prepared to approach AI with governance, regular audits, and a strong ethical framework to maximize value while minimizing risk.

For AI adoption to be successful in HR, it is essential to start with a clear plan and understand implementation doesn’t, and shouldn’t, happen overnight. Begin building your strategy by identifying which tasks or processes would benefit most from AI automation, such as recruiting, onboarding, or workforce analytics. Next, choose solutions that align with your organization’s goals and values, while also being easy to integrate with your current processes.

Equally important is bringing company leadership and employees along in the process. Position your organization for AI success by ensuring the following:

• Provide training for HR staff to understand how AI tools work and how to use them effectively
• Treat integration as an ongoing effort and not a one time project
• Schedule regular reviews to refine the tools and approaches over time
• Build trust with employees by clearly communicating how their data will be protected

As AI technology continues to become more commonplace and integrates into day-to-day operations, it is poised to serve a key role within modern HR practices. In a 2023 study, 45% of respondents cited they are currently using AI for human resource management.¹ In another survey of HR professionals, 70% of individuals responded that AI will significantly impact the industry over the next five years.² While we don’t see AI completely replacing human resource professionals, AI will continue to play an even greater role in predicting workforce trends, personalizing employee development, and automating time consuming tasks.

What will remain constant is the need for balance between technology and human judgement. HR leaders who embrace AI thoughtfully and responsibly will be well positioned to drive innovation while keeping the employee experience at the forefront. If your team is debating on implementing AI, it is important to continue to seek training and education on the use of AI as well as keeping up to date on all regulations.