Many businesses are eager to find ways to tap into the power of generative AI, according to the New York Times. As a result, tech companies are racing to create and sell products that incorporate generative AI to their enterprise customers.
The New York Times found that in the last year, “Amazon, Box and Cisco have unveiled plans for generative AI-powered products that produce code, analyze documents and summarize meetings. Salesforce also recently rolled out generative AI products used in sales, marketing and its Slack messaging service, while Oracle announced a new AI feature for human resources teams.”
In addition, there has been a notable surge in global interest for “AI in HR.” Recent insights from Startups.co.uk found that the Google Trends data shows worldwide searches for the term reached the peak interest score of 100 towards the end of July 2023.
Balancing Risks and Rewards
This rush of interest and wave of new products capitalizing on generative AI capabilities, does not come without its own risks despite the well-known benefits.
Currently the use of AI lacks necessary rules or regulations, as organizations and governmental bodies try to catch up. Furthermore, the technology is susceptible to challenges, including bias and privacy concerns, which are not as widely recognized and reported.
“Chatbots can produce inaccuracies and misinformation, provide inappropriate responses and leak data. A.I. remains largely unregulated,” noted the NYT report. A recent Gartner survey also found that over half the respondents’ companies have no internal policy on generative AI.
In light of these challenges and potential pitfalls, there have been calls for a more intentional approach to utilizing AI. A striking 84% of HR professionals believe there should be more education and training about AI tools in the workplace. Similarly, some 62% want to see more laws specifically governing AI to prevent bias in recruiting.
“HR teams that buy into AI technology should not introduce it to the workplace without having a secure support infrastructure in place” said Startup.co.uk’s Lead Writer Helena Young. “If businesses are to protect sensitive employee information from unwelcome eyes, it’s paramount to train HR staff to use new technologies and systems before bad practice becomes normalized.”
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