Analytics and Artificial Intelligence in HR: Unleash Your Benefits’ Potential with AI

How to utilize artificial intelligence (AI), machine learning, and data analytics to achieve better benefit outcomes for your workforce and business.

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Introduction

Breakthroughs in data analytics and machine learning technology are changing how we live, work, and even experience benefits and access health care when needed. While near infinite data is available, properly leveraging it presents a wide range of challenges that HR is expected to resolve. Without the right support, bringing together benefits data, technology, and employees’ needs can be a complex juggling act.

Meanwhile, encouraging employees to become better educated and more engaged with their benefits remains a top concern for leading employers. Poorly engaged participants can equate to wasting benefits spend and technology investments, and leads to dissatisfied employees who can’t value the sizable benefits investment you make for their wellbeing.

How can HR harness the true potential of data analytics and AI to realize a measurable return on your investment? What do data analytics and AI have to offer employees, and the benefit leaders that manage their programs? And how can HR take advantage of these technologies to future proof their benefits strategy and ensure their success?

Consider this all-too-common scenario: Your employee is facing yet another open enrollment decision. They’re feeling the typical confusion and stress that plagues 67% of employees when researching the best benefits for their family in the upcoming plan year. They login to their benefits portal and prepare to enroll – but they’re anxious and scratching their heads about where to start.

How can intelligent technology best support your employee at this crucial moment?

1 | Automation, Artificial Intelligence (AI) & Machine Learning: The Basics

Automation, artificial intelligence, and machine learning are changing the way many organizations do business – but what does this mean for HR’s undeniably human-centric work? The reality is AI is quickly becoming a part of normal, everyday life both at home and in the office.

Contrary to some fears, the increased use of technology and AI in business does not mean the end of humans (or HR) in the workforce: While AI is expected to eliminate 1.8 million jobs by 2020, this technology has also been predicted to create 2.3 million more.

Automation makes headlines for disrupting industries and eliminating some jobs (such as factory or warehouse workers being replaced with robots), but the concept of the human employee is far from becoming obsolete. Instead, the very nature of work is shifting away from repetitive and physical tasks (food preparation, production, and office administration, for example) towards work that is more complex, creative, or that requires social and emotional intelligence (engineering, education and training, and business and financial operations are among the occupations least likely to be automated in the future). In fact, 60% of employers believe that their employees’ value will increasingly be tied to their creativity. However, according to a recent survey of HR and finance leaders, one of the toughest challenges around analytics has been making sense of the results and implications of their data in the first place.  More »

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About Empyrean
Empyrean manages employee health and welfare benefits programs, combining the industry’s most modern, client adaptive, and configurable benefits technology platform with expert, responsive service to deliver Hi-Touch Benefits Administration. With Empyrean, you can drive customized strategies, increase employee engagement, achieve ACA compliance and more – all on one secure system.

Talk to one of our experts and learn how Empyrean can help your business.