The rising popularity of generative artificial intelligence over the last few years has had a profound impact on the way we work. Technological advancements and the increasing globalization of the workforce have revolutionized employment practices, allowing companies to efficiently communicate with employees located around the world.
AI is at the forefront of technological innovation in the modern global landscape. Artificial intelligence is a concept that refers to a machine’s capability to perform tasks that would typically require human cognition. With the evolution of new technology and as more companies implement more sophisticated AI systems, organizations will need to build a talented workforce with specialized knowledge to remain relevant and competitive.
Machine-learning algorithms and other aspects of the AI landscape offer businesses a wide range of notable use cases, yielding significant productivity gains, improved efficiency, and more.
Several challenges can be associated with implementing AI, including uncertainty regarding legal regulations and cybersecurity risks. Staying informed about emerging artificial intelligence trends can help businesses navigate this emerging market and prepare for the future of global employment.
Luckily, growing companies can partner with an AI-powered employer of record. An employer of record takes on responsibility for various HR-related administrative tasks, allowing organizations to hire international talent while remaining compliant with local labor laws.
In this guide, we’re going to cover five emerging AI trends that will shape the global workforce landscape and employer of record services.
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Artificial Intelligence Overview
Artificial intelligence is a technological innovation that uses software-coded heuristics and robust data sets to simulate certain facets of human intelligence, such as:
- Problem-solving
- Decision-making
- Reasoning
- And more!
AI research began in the 1950s when Alan Turing – widely considered one of artificial intelligence’s founding fathers – published his work “Computer Machinery and Intelligence”, which conceptualized the framework used to quantify computer intelligence.
Ultimately, the term AI was coined by notable computer scientist John McCarthy, who is often considered another founding figure within the field.
In the 1980s, the field of artificial intelligence experienced a period of exponential growth and increased interest due to innovative development and increased government funding. Advancements such as deep learning algorithms and the implementation of expert systems allowed computers to learn from mistakes and solve problems, which were utilized in various industries.
The AI sector experienced several challenges, such as the collapsing market for LISP-based hardware and the dwindling use of expensive expert systems. These challenges led to an AI winter from 1987 to 1993 – a period characterized by decreased public interest and funding for research.
Significant advancements in AI technology were made in the 1990s, including the development of speech recognition software and data-driven systems such as Deep Blue. The 2000s brought the introduction of the first Roomba and voice assistants such as Siri.
Recently, innovations in multimodal AI technology, a system that can analyze different types of data such as text or images, and Deep Learning, a form of machine learning that uses multiple layers of information processing to solve more complex problems, have led to renewed interest in the field.
Advancements in large language models have also enabled these tools to recognize, translate, and produce text based on large amounts of data.
Today, AI is being used in several major industries because of its ability to increase efficiency while maintaining accuracy. The widespread use of this technology has had a major impact on global employment practices, meaning companies hiring international workers will need to understand artificial intelligence trends to successfully navigate challenges in growing markets.
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How Can Companies Benefit From Using AI Systems?
Artificial intelligence has become integrated into several facets of daily life and an important tool for many organizations, with more than 80% of companies having already adopted AI technology in some way.
Understanding how your company can benefit from implementing cutting-edge technology can help you plan for the future and develop innovative modern business operations.
Time Savings
Companies that utilize artificial intelligence can automate certain manual processes, freeing up resources and time that can be used to focus on core operations or critical human-centric tasks. This allows companies and their hiring partners such as Employers of Record to significantly streamline the hiring and onboarding process.
Innovations such as AI-driven payroll systems can also help companies efficiently process all information and accurately pay international employees on time.
On average, recruiters spend roughly 23 hours screening resumes and filtering through resumes to find the right candidate for each position. Some AI programs allow companies to screen for keywords to optimize the process and potentially increase the quality of each new hire.
Other techniques, such as implementing chatbots and other AI-automated tools, can allow companies to gain deeper insights into each potential candidate’s skills and work experience.
Better Decision-Making and Increased Productivity
Companies can leverage emerging artificial intelligence to optimize the decision-making process as well. AI technology can accurately analyze large sets of data significantly faster than human workers, meaning companies can quickly identify trends and make projections or predictive forecasts. Business leaders can then use relevant data to refine strategic initiatives for sustained success.
For example, AI-driven data analytics can help organizations to:
- Predict customer behaviors
- Plan for worker turnover trends
- Identify potential operational roadblocks
- Determine optimal pricing amounts and much more
Companies may be able to get answers to all relevant business-related questions by utilizing AI tools.
Companies that leverage AI tools can also benefit from increased productivity by streamlining the organization’s workflow. Using AI to process information can help companies identify inefficiencies in operations and allocate the necessary resources for important tasks.
Using AI technologies to automate repetitive day-to-day tasks allows workers to complete more tasks in less time while reducing the risk of human error. In fact, recent research has suggested that AI technology can increase a business’s productivity by around 40%.
Leveraging AI technology can also provide workers new to an industry with access to specialized knowledge, allowing for greater quality of work and more effective communication with more seasoned colleagues.
Ultimately, increased productivity can lead to growth opportunities, higher levels of organizational efficiency, better collaboration among teams, improved employee engagement, and significant revenue gains.
What are the Challenges with AI Technology?
While companies can benefit in several ways by leveraging technology and understanding artificial intelligence trends, several challenges must be considered when building a global workforce.
Limited Talent Pool
Companies can find implementing AI technology into core operations difficult because of a lack of talent within the organization. Artificial intelligence is a relatively new and dynamic field that requires specialized expertise in various areas, meaning companies may not have the talent needed to implement AI tools. This can lead to reduced productivity and a higher risk of losing relevance or market share.
With the growing demand for AI professionals and a limited pool of qualified individuals, companies can face additional hurdles when hiring or retaining top global talent.
However, companies can remain competitive when recruiting AI talent by offering competitive wages and comprehensive supplemental benefits, such as stock options, bonuses, health and wellness stipends, and more.
Legal Compliance and Quality of Data
Companies that implement AI will also need to be aware of legal obligations. As artificial intelligence technology and regulations continue to evolve, organizations will need to stay up to date with all relevant policy updates to remain compliant and avoid penalties or reputational damage.
Organizations leveraging this technology will also need to be aware of data privacy regulations. For example, policies such as the European Union’s General Data Protection Regulation (GDPR) can influence how companies access and handle personal information.AI automation can help companies save time and process large datasets in moments.
However, deep learning algorithms require accurate information to make predictions or identify important trends, meaning data quality can significantly impact AI’s performance and reliability. For optimal results, datasets should be accurate, consistent, complete, timely, and relevant.
Data availability can be another issue companies face when trying to maintain accurate and relevant records. This refers to how easily an organization can access data as many companies keep important information siloed or isolated, impacting the relevance and completeness of the data used. Companies can also face additional challenges with cybersecurity or when labeling, storing, and managing data.
Five Emerging Trends Shaping the Workforce Landscape
Understanding how AI can benefit your company and some of the common challenges organizations must navigate can help your business implement cutting-edge technology.
As this technology continues to be leveraged in the global market, it’s important to identify emerging artificial intelligence trends that will impact the workplace and demand for skilled talent.
Considering these five emerging trends in the hiring process, along with other important developments, can help your company successfully plan for the future of work and ensure model optimization.
1. More Inclusive Employment Practices
By efficiently filtering out candidates and finding workers with the best qualifications, AI technologies can connect companies with skilled workers from a diverse range of backgrounds or demographics. Using complete, relevant, and accurate datasets can help limit inherent exclusionary biases in the recruitment and hiring process.
Companies can also use AI to uphold and implement better diversity, inclusivity, and equity practices in the workplace. Maintaining a diverse workforce offers many benefits to companies, including access to new or innovative perspectives and a stronger company culture.
Technology such as language-learning models and other assistive technologies for disabled workers can help limit communication barriers and ensure employees of all demographics have access to resources or relevant information.
Some companies also utilize AI data to reallocate resources to higher-demand areas of need, which can prevent widespread layoffs and protect at-risk workers.
2. Providing Learning and Development Opportunities
Another emerging artificial intelligence trend is the ability of companies to optimize learning and development resources for employees.
AI-powered technology can help your company identify each employee’s skills, areas of weakness, and long-term goals, allowing organizations to develop a personalized approach to professional development. Providing ample opportunities for learning and development can help companies retain talent, increase agility, and improve productivity.
With the relatively limited pool of qualified individuals in the AI space, companies that invest in learning and development can also fill necessary positions by upskilling or reskilling existing employees. This can help companies eliminate skills gaps as they arise and successfully scale operations.
3. Focus on Company Culture
An increased focus on maintaining a healthy and positive company culture is another AI-related trend shaping the future of global employment. Increasing employee satisfaction is important for recruiting and retaining top talent, through data analysis of employee satisfaction surveys and sentiment analysis of internal communications.
By leveraging AI technologies in this realm, companies can gain deeper insights into the factors influencing employee morale and engagement. This allows for more targeted interventions and policies to cultivate a supportive and inclusive work environment, ultimately leading to higher productivity and long-term organizational success.
4. Automation of Basic Tasks
The ability to save time on routine tasks is a key advantage of implementing AI technology in the workforce. As a result, companies are increasingly automating basic jobs such as data entry instead of relying on human labor, allowing employees to focus on more difficult or innovative tasks.
This could potentially significantly impact the workforce, as human employees could spend more time handling the higher-level strategic and creative details of a project or communicating relevant information to other team members.
Several industries are already automating basic tasks to save time without compromising quality. For example, chatbots and AI-powered virtual assistants are used to efficiently handle customer service inquiries, while other AI tools are utilized in industries such as manufacturing and finance.
In the digital landscape, generative AI tools can be used to quickly create content.
5. Prioritized Cybersecurity and Payroll Data Protection
With the growing implementation of machine-learning algorithms, cybersecurity has become a significant focus for companies in the modern employment landscape.
AI tools can quickly analyze large amounts of user information, meaning companies will be responsible for keeping sensitive information safe from cyber threats or data breaches. This is also an emerging trend due to the popularity of remote working conditions, which can lead to increased vulnerability to attacks.
Increasingly, organizations have used AI-powered cybersecurity practices such as algorithm-based threat detection, zero-trust frameworks, and multi-factor authentication to protect private information.
Companies will also need to consider the legal requirements for data protection and privacy in different jurisdictions when developing cybersecurity solutions.
How Can an AI-Powered Employer of Record Help?
Companies navigating the dynamic modern employment landscape and implementing emerging technologies can face several challenges and setbacks when recruiting global talent. Partnering with an AI-first Employer of Record can help connect organizations with top talent from around the world and gain access to expert-level guidance regarding the complexities associated with international hiring.
An EOR acts as the legal employer for your international employees and take responsibility for global payroll management on your behalf. This eliminates the need to set up a local entity in the country of hire, which can be a time-consuming and bureaucratic process.
Borderless AI is an AI-first global EOR that serves as the legal employer of your company’s international teams. We take care of administrative tasks such as payroll and taxes - and leverage the power of generative AI to automate and speed up the process of onboarding, managing, and paying international team members.
Partnering with an AI-powered employer of record such as Borderless AI will also ensure you remain compliant with all relevant local labor and tax laws. At Borderless AI, we use Alberni - our AI agent for global employment to stay up-to-date with changing employment laws and regulations, meaning companies can dedicate more time to implementing innovative technology and fostering a positive company culture.
However, it’s important to ask the right questions to find the right partner for your organization.
Contact us today to see how we can help you navigate emerging artificial intelligence trends and hire talent from over 170 countries worldwide.
Disclaimer
Borderless does not provide legal services or legal advice to customers, contractors, employees, partners, or the general public. We are not lawyers or paralegals. Please read our full disclaimer here.
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