Smart HRM practices

0:27 Hello learners, welcome to the course on AI in human resource management. We move to the last lecture of module 4 where we look into smart HRM. Now, it's an interesting topic because how did HRM become smart? This is what we are trying to unravel. We are trying to see the AI presence in making HRM smart. I'm Dr. Abraham Cyril Issac. I'm an assistant professor at the School of Business, Indian Institute of Technology, Guwahati. Now, when you talk about smart HRM, Please understand that it uses Industry 4.0 technologies to manage HR and the next-generation workforce, which is why it is known as smart HRM.

0:57 Now, let's understand smart HRM first, and we'll see the AI involvement in smart HRM. We see that there is increased efficiency that has come in because of AI practices being adopted, AI tools being used in HRM. And these Industry 4.0 practices are making it smarter. Let's look into the smart element of HRM. When we talk about smart HRM, what we understand from smart HRM practices is that it leverages advanced technology to manage human resources more effectively and efficiently.

1:24 So, when you look into these Industry 4.0 technologies, be it AI, machine learning, IoT, chatbots, or big data analytics, they are used by HR managers to manage the next-generation workforce, which is why, as I mentioned, it is called smart HRM 4.0. This technology certainly improves performance across various HR functions, from workforce planning to employee off-boarding. It aids in building high-performing teams and managing workplace talent while also enhancing productivity and effectively handling a diverse workforce. What smart HRM 4.0 does is promote organization-wide employee training and integrate HR functions to improve overall effectiveness.

2:24 It also facilitates talent acquisition, functions like training and development, and retention. For example, let's look into this. Smart HRM uses AI in recruitment, which reduces errors and enhances efficiency across processes like, let's say, branding, candidate attraction, and assessment. Maybe selection and onboarding. These are some of the vital aspects that make it smart HRM. Now, when you talk about smart HRM, let's understand from the emergence of smart HRM, the fourth industrial revolution, which we call Industry 4.0.

2:54 So let's look into this example. Let's say smart HRM typically uses AI in recruitment,