4 Reasons Why AI is No Longer Just a Buzzword in Corporate Training

by Marie Martin Search Engine Optimization

The saying maybe old is gold, but it doesn’t hold true for corporate training. For a long time, such training has been conducted with the help of onsite instructors. They use projectors and computers to display their slides, while the L&D department scrambles to coordinate timings between trainees across different departments and the trainers. This traditional method of training is inefficient and inflexible. Plus, learners get easily bored and often find the learning experience moving either too fast or too slowly.

The change came in the 1990s, when learning management systems were born, with the spread of information technology. These platforms contained online training resources, built by instructional designers. But, here too, the learning experience was linear and modules were often quite long and monotonous.

It has only been in the recent past, with the AI and the emergence of microlearning content, that corporate training has been completely revolutionized.

AI – No Longer Just a Buzzword!

The term artificial intelligence was first coined by John McCarthy in 1956. He described AI as machines that could complete tasks that traditionally required human intelligence. For a long time, it was seen as a thing of sci-fi movies. But today, artificial intelligence has seeped into almost every sphere, with some of the common examples being Siri, Alexa and Tesla. In fact, the revenue of the global AI software market was valued at $9.51 billion in 2018. The market is expected to grow to an astounding $118.6 billion by 2025.

The potential of AI is being recognized increasingly by businesses. In fact, 47% companies had adopted at least one AI capability in their business in 2018. AI is today easing business operations, customer services and even employee onboarding and training. AI is also being used for assimilating new hires seamlessly and quickly. In fact, 96% recruiters believe that AI can greatly improve talent acquisition and retention.

According to Gartner’s 2019 CIO Survey, 37% of the companies had implemented some form of AI, representing a whopping 270% increase over the past four years. What’s more, by 2021, it is estimated that 80% of emerging technologies will have their foundations in AI. In fact, IDC estimates that worldwide spending on AI systems could have grown to almost $35.8 billion in 2019.

How AI is Improving Corporate Training

The abilities of artificial intelligence are growing in leaps and bounds. It is not only replicating human actions, but even outperforming them in certain fields.

One area where it is proving invaluable is employee development. Some of the major advantages of AI in corporate training are:

More Targeted and Personalized Learning

The one-size-fits-all approach does not work anymore. 77% of professionals feel personalized learning leads to higher engagement levels. Traditionally, employees had to go for tedious classes with fixed schedules, which affected productivity without enhancing learning outcomes. But, with AI learning platforms, employees can access information that is most relevant for them.

With the help of robust analytics, AI gathers insights about the learning behavior of users. This helps in the creation of individual learning paths, best suited to the knowledge and skill level of the learner. This then means more immersive learning experiences, translating to higher retention and better engagement levels.

With the use of AI, companies are also able to retain talent, while reducing attrition and savings on the cost of hiring and training new employees. According to a report by PwC, 50% of companies across the world intend to invest in data analytics, backed by AI, while another 39% are considering how it can be used to nurture skills. But, it is important to remember that AI is as good as its underlying algorithms. Therefore, it is vital to choose a corporate learning platform, such as Kea, with a powerful AI component.

Elimination of Human Bias and Error

AI can mimic the positive qualities of humans in corporate training, without including the negatives. One such positive is that AI doesn’t get tired of being asked the same question repeatedly! Corporate training can be a long process, leading to a dip in energy. But with an AI-driven chatbot, no such problem exists.

One of the other fascinating advantages of an AI learning platform is the removal of biases. How every much we might wish to deny it, our biases do tend to creep in, to some degree, in our assessments. One of PwC’s partners, Seedlink uses AI to identify “identifies both written and verbal language patterns and make predictions on behavioral traits and culture fit. This enables companies to realize their organization’s fullest capabilities through data-driven talent acquisition and internal mobility.”

Research shows that new employees who participated in a structured onboarding program were 58% more likely to remain with the organization after three years. In fact, the use of AI can not only help remove human bias in training, it can lead to very structured, yet personalized training. Glassdoor has gone on to say that one of the leading trends in employee onboarding and training in 2019 and beyond is automation, with the help of AI, especially chatbots.

With the help of AI, training evaluation can be based solely on robust data analytics, rather than subjective assessments. This means that it is important to choose a corporate learning platform that incorporates such analytics capabilities and customizable reporting.

Unsupervised Learning

With AI, the need for a supervisor is eliminated too. Instead, an AI chatbot can be used to answer all questions, in real-time, anywhere and at any time. The bot keeps track of the employee’s progress and suggests the best course of action. It also reminds learners regarding modules they need to complete, while recommending content most relevant for them. Employees can learn at their own pace and style, on the device of their preference and at a convenient time, without impacting productivity.

And, in the end it ends up taking less time as such online learning takes 40% to 60% less time than the traditional method.

Identifying Future Leaders

Succession planning is one of the biggest challenges faced by organizations worldwide. In fact, 86% companies believe that leadership planning is an “important,” if not “urgent,” requirement for their organization. The powerful and robust analytics achieved through AI also helps in identifying traits that might make someone a suitable future leader. Once identified, they can be trained from an early stage.

The feats achieved with the help of AI are truly astounding. In fact, AI developed by IBM can predict which employees are about to leave their job with 95% accuracy!

So, move towards the future and adopt a powerful AI-driven corporate training platform to engage employees and enhance their experience of learning and development at your organization. Contact us to know-how.

Source: https://www.askkea.com/blog/4-ways-ai-changing-corporate-training-for-better/