Insurance

Artificial Intelligence (AI) in Human Resources and Employee Benefits

Artificial Intelligence (AI) in Human Resources and Employee Benefits

Artificial intelligence (AI) used to be the stuff of science fiction. Now an essential part of doing business, AI drives employee engagement and assists in human resources (HR) functions like employee benefits administration, recruitment and retention, and diversity initiatives.

Most company executives agree AI helps with productivity and data analysis. And more than half of organizations use AI in some capacity, according to RELX Group.

AI Streamlines HR Administration

AI can save you time and money by automating the hiring process and powering your training and development programs. It allows your team to focus on more strategic initiatives and develop the relationships necessary to handle the many situations you deal with on a daily basis.

  • Hiring process — With AI you can screen resumes, assess responses to screening questions, schedule interviews, send automated responses and streamline onboarding. It simplifies the process overall and gives you the opportunity to focus on personally welcoming new employees.

  • Training and development — Machine learning can track who an employee works with most frequently, solicit feedback from supervisors and peers, make recommendations for training needs, and offer an online curriculum. This gives you a chance to engage as a mentor and teacher in real time.

AI is also evolving to:

  • Remove bias — Algorithms have been developed to detect and remove biases in job descriptions and resume selections. You can improve communications and welcome a more diverse workforce.

  • Identify employees who may be leaving — Tracking and analyzing an employee’s computer activity can help determine if they are working “as usual” or detect a change in tone in their overall communications. You can then approach a valued employee to determine what can be done to keep them on board.

AI Simplifies Employee Benefits

Managing your plan’s health care expenses and creating a program that employees appreciate is a time-intensive process. With AI, you have access to data elements that can help you plan strategically throughout the year.

Based on the data collected, AI can anticipate a health plan design using your plan’s claims history, prescription drug analytics and employee demographics. It can also help predict the health needs of your employees five years from now, factoring in employee information and well-known health trends like life expectancy and increasing obesity rates.

AI can also help you:

  • Track health care spending

  • Evaluate enrolment data and predict future participation levels

  • Develop cost-containment measures specific to the plan

  • Apply incentives to manage chronic disease

Employees want a tool to simplify their benefits experience and provide the guidance they need to make the best decisions for themselves and their families. AI can help them:

  • Select the best plan based on their health care needs

  • Design personalized contribution strategies

  • Access providers and health services

  • Track personalized health initiatives

Chatbots and virtual assistants can also help employees understand the value of their benefits program. They deliver personalized guidance based on an individual’s needs, enabling employees to shop for benefits in much the same way they shop online retail outlets.

AI in Health Care

Overall health care costs are a top concern for almost everyone. AI is working to reduce these expenses through:

  • Virtual nursing assistants — Virtual assistants answer health questions online to treat minor ailments immediately. They can also direct the patient to where to go for more information or schedule a follow-up appointment. This provides access to care and treatment 24 hours a day, seven days a week.

  • Diagnostic tools — AI is being used to scan MRI, CAT and X-ray images to help identify certain types of cancer, heart disease, congenital anomalies and abnormal brain pathology. This eliminates long wait times for diagnoses and can reduce costs for additional physician review.

  • Robotic-assisted surgery — AI analyzes a patient’s medical records and guides the surgeon’s instruments during the operation. Patients have experienced shorter hospital stays and fewer complications as a result.

AI is also being used successfully to offer a second opinion and educate patients on chronic illness.

For more information

If you are looking to streamline your HR initiatives and help employees feel more engaged and knowledgeable about their benefit needs, talk to your benefits advisor. They can introduce you to AI and help you integrate it into your program. Or, they can help you further explore the AI systems you already have in place.

This content is for informational purposes only and not for the purpose of providing, financial, medical or legal advice. You should contact your attorney, doctor, broker or advisor to obtain advice with respect to any particular issue or problem.

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