Nowadays, the development of management predetermines the widespread use of technology. This trend manifests itself at all levels, which, as necessary, has an impact on the organization of work processes in enterprises. Management organizations, as well as the HR sector, face the need to use digital innovations in practice, namely artificial intelligence, and Artificial Intelligence (AI)-powered HR management is especially relevant in this regard. Artificial intelligence – a wide range of algorithms and tools in machine learning, capable of easily acquiring data, identifying patterns, optimizing or predicting trends. Such algorithms do not rely on “intuition” like humans, but they work much faster, analyzing millions of sources of information and classifying them in seconds. Artificial intelligence enables management:
• To gain access to electronic libraries, virtual laboratories, scientific, educational and other socially relevant resources;
• With greater accuracy than humans. For example, an industrial environment using machinery can reach conclusions that were otherwise very human-driven or controlled due to the absence of Artificial Intelligence (AI).
• It becomes aware of learning processes by entering the virtual space and making it personalized. Through statistical data, artificial intelligence systems can “predict” and “learn” based on multiple criteria, build potential solutions and then further optimize decisions.
Another important advantage of artificial intelligence is that it can also calculate the probability of risk to avoid the most critical risks.
Artificial Intelligence in the routine management work opens up opportunities for managers to free up time for other more value-added activities. For instance, Artificial Intelligence (AI) will notify managers about the need for a meeting to discuss risks or bottlenecks; organize a meeting and invite the right people when issues are experienced, create an agenda, monitor what needs to be done and even, what actions need to be followed. It can process numbers, detect patterns and make quick decisions being data-driven. With its tendency to process large amounts of data, it can tell the direction of trends and provide useful advice; therefore, it is an essential tool for every executive who needs support in decision-making. More structured information allows every decision-maker to make decisions faster and more efficiently. Having more information gives them a focused approach towards work and enables them to make better decisions. This enables them to make better decisions. The potential of artificial intelligence in creating a better management environment is enormous. However, it also has some disadvantages, including:
• Dependency. Artificial Intelligence (AI) applications automate all the most tedious and tiresome routine tasks. There is no need for people to remember things to work, they think less and forget their skills to remember and process information.
• Losing creative thinking. Of course, Artificial Intelligence (AI) can learn over time using pre-trained data and experience, but still cannot be creative in its approach.
• Human intervention is decreasing. This, in the long run, can cause a serious problem in labor standards. A good example is chatbots. It is seen as a great benefit for organizations, but it is a nightmare for employees. A study by McKinsey has shown that artificial intelligence will be able to replace at least 30 percent of human labor by 2030.
• Lack of ethics. Due to the rapid development, many concerns are rising over the use of artificial intelligence. There exists a notion of singularity about this tool. The idea is that this type of system will eventually grow in an uncontrolled way until it starts attacking the human race.
• Lack of qualified personnel. Another difficulty that often arises at the business level when implementing Artificial Intelligence (AI) is the lack of personnel with skills and experience in such implementations. In such cases, it is necessary to have specialists who have already worked on developments of this magnitude.
In short, the development of Artificial Intelligence (AI) proves well the perspectives of a change in the direction of the management field. Some processes that are constantly recurring will be allowed to be managed and implemented using Artificial Intelligence (AI). Artificial intelligence will provide the realization of core functions such as communication and quality information exchange. Nevertheless, at the same time, it is important to recognize the fact that the application of the best algorithms in project management solutions created by AI is not a guarantee of quality performance.
So even though artificial intelligence helps solve routine tasks and provides managers with time to solve more complex and non-standard tasks, employees need to regularly monitor the data consumed by Artificial Intelligence (AI) to prevent possible distortion of results. It is important to remember that management is as much about experience as it is about art.
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