The Convergence of AI and Blockchain: Revolution for Better Tomorrow for HR

We are living in an exciting space where technology is bringing a revolution and disrupting the way we work. Artificial Intelligence (AI) and Blockchain are few ground-breaking technologies which are metamorphosing the dynamics of work. AI helps analyze the big data to identify and understand hidden patterns, whereas blockchain technology helps in securing data through a distributed network to create a transparent and secure ledger of information. The convergence of both technologies is resulting in significant advancement in data sharing; AI uses data to compute its algorithms while Blockchain ensures data safety. To keep up with the pace of these disruptions, organizations will need a clear foresight to understand how prepared they are to welcome these technological shifts.

Impact of AI and Blockchain on HR Processes

AI and Blockchain technologies have a significant impact on almost every aspect of life, and Human Resource is no exception. HR processes are lengthy, time-consuming, and demand intensive human intervention. For instance, hiring and on-boarding a single candidate may take up to several days- from procuring applications to conducting interviews, administering psychometric and background checks to gathering references- & there’s still an ambiguity whether they have hired the right candidate or not.

Furthermore, there are many trust issues within the HR processes which raise questions around its credibility. For instance, to conduct background verification, HR practitioners go back and forth to check with companies where the individual has worked previously. In general, people tend to shy away from giving candid information in person-to-person interaction. This was originally published on SCIKEY website. Read full story at SCIKEY