THE FUTURE OF WORK: HOW AI AND BLOCKCHAIN TECHNOLOGIES WILL IMPACT HR AND THE JOB MARKET

Abstract

Background: Digital transformation will inevitably impact the way work is conducted across varying industries and functions. Particularly within the field of human capital management, experts have predicted a shift to automating repetitive tasks using Artificial Intelligence and Blockchain. While the use of these emerging technologies are unique and attractive solutions to optimize resources and streamline processes, they also pose concerns regarding job obsolescence and a drastic restructuring of the job market. Objective: To determine use cases and impacts of Artificial Intelligence and Blockchain technologies on HR functions and the job market, as well as recommend ways in which HR professionals can successfully integrate these technologies in their workforce. Methods: Qualitative research compiled through journals and publications online will be conducted using the case study method, which will outline use cases of Artificial Intelligence and Blockchain technologies in three companies: Unilever, Randstadt, and L’Oreal. Results: While the automation of repetitive job functions will occur, this cost will be outweighed by returns from the creation of new jobs. Automating administrative tasks such as resume screening and background checks will also mark a shift to HR as a strategic partner instead of a support function. To further prepare the existing workforce for this change, professionals can look to upskill their employees, particularly in the areas of digital literacy.