In recent years, the business landscape has witnessed a notable transformation, wherein companies  have adopted progressive approaches to enhance their operations. Hybrid work models have emerged, propelled by technology’s integration into daily workflows. The ongoing advancement of artificial intelligence (AI) is set to transform this landscape even further. Human resources (HR) and workforce managers are now strategically harnessing the power of generative AI to boost productivity, streamline complex processes, and effectively address any prevailing skill gaps.
Speaking about these changes and the significant impact that generative AI will have, Guy Waterman, vice president of People Analytics, HCM Technology and Innovation, Oracle, told FE: “Generative AI is a breakthrough technology in the world of work, and HR departments will witness improvement in the speed of transactions and gain undeniable value. We’re seeing that the generative AI components increase business velocity, improve accuracy, and ensure an alignment with business strategies. And we believe that generative AI is one of the things that will enable our customers to achieve better results.”
Time for skills-based hiring
According to Nasscom, India is expected to face a shortage of 200,000 skilled IT professionals by 2024. However, generative AI can help alleviate the impact of this talent scarcity by offering a flexible workforce capable of achieving higher productivity levels. In fact, generative AI is becoming increasingly popular in India, with technology companies announcing plans to leverage its capabilities.
Oracle, a leading cloud enterprise firm, has also invested in Cohere, a Canadian startup, to provide foundational models as part of its new service. Recently, it added advanced features to its human resources software on cloud, which can aid in drafting job descriptions and employee performance goals.Its newly added capabilities of generative AI complements the strategies within Cloud HCM to simplify work lives.
“We have put a button on many fields, and users will automatically generate draft text like job description, performance goals, and the ability to accept, reject, modify, and create content from there,” said Waterman. “We’ve blended the generative AI component into Oracle ME, focusing on simplifying the experience for users, whether they’re managers for self-service or employees. Employees are looking at advancing their career path, and generative AI is going to thrive as it’s the right capability for them.”


Where business value lies
The HR domain is witnessing increased adoption of human capital management (HCM) solutions, across sectors inclusing healthcare, BFSI and many others. Oracle’s HCM business has been the biggest growth driver for it in India in FY23, giving 20% YoY growth. Companies such as Essar Group, Apollo Hospitals, AU Fin Bank, Kotak Bank, Axis Bank, SBI Card and Airtel are using HCM solutions on Cloud from Oracle to improve employee processes. The demand for generative AI is increasing as firms seek to modernise their workflows. A significant growth factor here is its ability to help workers focus on essential tasks and become drivers of growth in their careers.
The newly launched services by Oracle on generative AI has three main features: Assisted authoring that offers support in detailing job descriptions and performance objectives, suggestions that automate recommendation for survey-led questions, including outcomes that businesses are trying to measure, and summarisation of employee performance based on feedback gathered across the year from the employee, peers, or managers, and goal progress and achievements. Generative AI in HCM is designed to help Oracle’s customers streamline content-heavy and time-consuming tasks so they can focus more on more creative, strategic, and meaningful opportunities that will drive business success.
The bottomline: Embracing Generative AI is not just a trend. It’s a strategic move that propels HR departments toward greater success in the ever-changing world of work.

WORKPLACE DYNAMICS
Generative AI can help alleviate the impact of talent scarcity
Next-gen tech to boost productivity, address prevailing skill gaps
Oracle introduces generative AI capabilities to help HR boost productivity
Key customers for Oracle Cloud HCM solutions are Essar Group, Airtel, Apollo Hospitals, Kotak Bank

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