Artificial Intelligence (AI) is a key component of technology today. After all, Adam Uzialko writes for Business News Daily that its power is transformative. Specifically, “Artificial intelligence has a wide range of uses in businesses, including streamlining job processes and aggregating business data.” The bottom line is that AI is part of all technology now.
Therefore it is important for us to understand how this in key business technology. In this blog, we will explore the role of AI technology in Employee Benefits Administration software. Furthermore, this will be an explainer of AI in business software and in employee benefits administration in particular.
To begin with, let us look at a brief history of AI as a technology. Presently this global market is a dominant economic and innovative force. Accordingly, Grand View Research reports that as of 2022 the international AI market worth is nearly $140 billion USD. To clarify, PR Newswire specifies that, “For instance, from self-driving vehicles to crucial life-saving medical gear, AI is being infused virtually into every apparatus and program.”
AI’s inception is traceable to the mid-20th century. Firstly, Alan Turing, a leading British mathematician, introduces the Turing Test in the 1950s to determine computer intelligence. In the decades following, computers and IT develop leading AI including deep neural networks. Recently, the November 2022 release of OpenAI’s ChatGPT marks another milestone in AI capabilities.
To that end we can then analyze and critically discuss how software engineers integrate these AI functionalities into programs. Whether for improving processes or supporting user interfaces (UI), AI is part of most of our software technology now. Both professional and consumer technology involve some kind of AI including predictive text, database report analysis, and health services. Overall, AI is now the same as the technology we use. Equally, it’s difficult to separate the two in this development era as we all expect an AI standard of UX.
As a result of the scope and complexity of these AI capabilities, there are also countless options for customization. Sooner or later, any organization that uses software should evaluate what they need and if their chosen platforms support this. As much as possible, organizations and managers are in a place where they can look to cutting-edge technology. At this time, this is software with AI features that support ergonomic outcomes.
Likewise, AI is now a prominent part of employee benefits administration platforms. Because this is a specialist SaaS that requires accuracy and user-friendliness, AI is of fundamental value. Crucially AI in employee benefits administration platforms is not overtly apparent to the user and instead helps four key areas. That is to say, these areas are:
To this end, AI in employee benefits administration has a leading role in how organizations eliminate wide-reaching problems. In particular, this achieves the outcome of freeing HR to focus on supporting team members while upholding compliance legislation. At the same time, employees can more simply and reliably understand and enroll in their entitlements. Unsurprisingly, an Eightfold AI survey found that on average 73.8 percent of HR leaders currently use AI in some way. Therefore AI has a role in HR now and beyond whether it’s helping with tasks, educating employees, or onboarding recruits.
Overall, some experts project that AI is going to be a completely revolutionary force in how HR departments work. To emphasize, we refer to an article from Nick Martindale for Employee Benefits from the UK who says the following about AI in 2023. “It [AI] is a trend that is expected to increase this year, offering greater personalization of benefits for employees and providing employers with the information they need to shape strategies.”
Despite the reticence of some industries to invest in AI, every organization that uses employee benefits administration can reap rewards. Moreover, AI functionalities deliver a tailor-made UX as they adapt to the individual user. For example, in the employee benefits space, AI can reference data about a single employee to make custom enrollment recommendations. Even if HR team members have this information, they can rarely deliver insights on-demand and directly to an employee.
For the most part for every organization, the high-level requirement is that their systems help with data security. Notwithstanding a well-maintained cybersecurity policy and thorough staff education, robust in-built security is a non-negotiable. For this purpose, AI is an attractive and valuable feature as it integrates with cybersecurity and cultivates digital hygiene practices. Subsequently, data protection — both in compliance and in stakeholder care — is consistent. In time, this has a multi-dimensional impact on the organization’s reputation, the security of all individuals, and monitoring risks.
AI is already in use across many software platforms and systems to level up system security and data management. All in all, these functionalities facilitate better cybersecurity and uphold prevention principles that encourage good digital hygiene practices among employees. Analogous to prevention being better than cure, organizations that opt for AI in their employee benefits software are working protectively. Owing to this as a cybersecurity principle, data management can improve the everyday environment and reduce long-term breach risks.
Now that we have a review of the role of AI in employee benefits administration, we will provide use examples. In this situation, we will review three different areas of use that are currently happening in the global business market. Furthermore, we will outline what makes this use so valuable to the case study organizations for B2B.
EdApp is a company that focuses on staff training on the HR side. In summary, this platform helps organizations with onboarding new team members. Though it is not always an integration with the employee benefits administration, it does round out the HR services suite. To clarify, this means that organizations can use this tool to benefit their staff at any time — even offline. Seeing that this product uses smart features like automation in reports and training updates, HR can then monitor staff progress. Emphatically, this helps keep employees on track and help is available whenever they need it.
HR start-up Elevate uses AI in their employee platform to give individuals a slick, modern UX. Overall, users can gain insights with design-centric and easily navigable UI. Given these points, the disruptive company is understandably attracting interest for its intelligent design as a sought-after business solution. Moreover, the AI helps them offer a “smarter” employee benefits software product to customers. In time, this results in organizations being able to offer stakeholders a current, progressive product that delivers a quality UX.
TopKnack is an HR start-up currently using ChatGPT for its recruiting activities. According to the company founder, they utilize the analytical functions of conversational AI to plan recruitment including finding talent. In the same way, this use of the ChatGPT tool helps the organization save time and work more efficiently. Overall, this helps them better manage their day-to-day tasks without compromising on work quality.
There are so many ways HR teams and organizations can use AI-rich employee benefits administration. Daily usage patterns are important to discuss. Comparatively to the high-level examples above of specific industry use, in this section, we will outline everyday organizational use. All things considered, AI can be misunderstood as an impersonal technology feature when it largely impacts UX in organizational settings.
As shown above, HR team members are already using AI functionalities in their recruiting and onboarding activities. Whether it’s for processing applications or automating application responses, AI helps HR manage tasks and more accurately assess potential candidates. Due to uses like filtering candidate credentials, this frees HR to focus on thoroughly interviewing and recruiting. Overall it can improve the odds of finding the right candidates. On the other hand, this also benefits new employees in onboarding as they have strong systems from HR. Accordingly, onboarding in this period is highly comprehensive from introducing new team members to helping them adjust to organizational systems.
Educating employees about their benefits and entitlements remunerations is a fundamental ethical and compliance responsibility. Both management and HR team members in organizations are accountable for employees completing enrollment in their benefits. Also ensuring that is simple, accessible, and user-friendly ties to how employees perceive their employer. Altogether, this can make a difference in how they feel about their workplace. Because AI in these systems helps tailor the UX, employees can better understand what’s available to them streamlining enrollment. Besides this, employees can access information at any time to check their remuneration status and then, if needed, contact HR.
All team members can struggle with high-volume tasks. Moreover, this can lead to mistakes that affect stakeholders in the short-term and long-term. As an illustration, consider how stressful it is for an HR team member to complete compliance tasks during administration overload. Consequently, the option to use AI features that redistribute tasks and utilize automation options helps HR focus on important work. As much as this benefits HR who need to adhere to compliance, this also helps team members who need support. By and large, if HR is bemoaning tasks that they can outsource, this flows onto all other team members. By comparison, using AI is a smarter resource allocation and upholds the crucial HR tasks that matter.
Lastly, using AI in data systems and user verification ensures best practice system security is upheld. Balanced against mainstream and emerging cyber threats, AI-rich systems help manage data and protect stakeholders. Additionally, they protect organizations both in the day-to-day and from a brand standpoint. Following the introduction of AI in data systems and credentials management, there are a range of ways that security monitoring happens. For example, daily reports and audit trails provide management with a clear understanding of what is happening where. Given rising remote work as well as growing organizations, this targets manageable risks and mitigates complex threats.
Finally, let’s review five key areas that benefit employees and organizations. Undeniably it is worthwhile to flag any risks, both in best practice and ethics, that can affect stakeholders. Surely this is a responsibility of every organization — commercial, private, or government — everywhere. Nevertheless, we would be remiss not to close this article concerning the five ways operations and experiences may improve with AI.
It is important to note that team members may need help to understand AI in their employee benefits administration. As systems are becoming live, or there is planning for deployment, training staff is an urgent matter. Given that workplaces and technology change rapidly, it’s necessary to plan implementation so there is a positive UX immediately.
In conclusion, it is undoubtable to that AI will evolve in use in the months and the years ahead. According to Prarthana Ghosh at Spiceworks, “Benefits administration being a largely routine task-based process system, AI has managed to effectively foray into the function, and for the better.” While we cannot be entirely certain of the specific uses, many experts believe that it elevates all employee benefits administration. Gem Siocon writes for Business News Daily that AI is a useful tool for HR departments in particular. Siocon says, “AI tools are versatile and offer HR teams several applications, helping them complete many important functions in a faster, more thorough way than ever before.”
Employee benefits administration is software-as-a-service (SaaS) that is scaleable and customizable according to organizational needs.
In summary, these platforms help with:
Overall this software helps organizations from all different industries complete their essential work. Unlike some other business software, employee benefits administration platforms are in use for in-organization and employee-facing organizational activities.
Employee benefits administration platforms are not always SaaS. Accordingly, there are in-house and outsourced benefits administration solutions. All in all an in-house solution won’t necessarily be a SaaS. Comparatively, an outsourced solution is often a SaaS that organizations can customize and scale as they grow or change.
AI technology features are an essential part of modern employee benefits administration platforms. Consequently it is worthwhile to invest in a robust platform that can accurately and consistently manage a range of functions.
Key AI technology functions are:
Costs for employee benefits administration software vary according to a range of factors.
Specially, the main contributors to costs are:
Nevertheless, exact figures will depend on a custom solution that is purpose-built for the organization. Overall, it is best to consult with expert software developers at A3logics to establish needs and then proceed from there.
