Author: Rashmi

AI enthusiasts and entrepreneurs discussing the Future of Work with AI

On the 9th of September 2022, NAM hosted two very interesting AI enthusiasts as part of the Technology Crystal Ball series of webinars. Vinay Mahajan, NAM’s President & CEO engaged with Animesh Samuel, CEO of a fast growing AI firm, E42 who graced the occasion the platform for a second time and the Milita Datta, Co-founder of Monami. The ensuing discussion which had a packed audience discussed about how AI is Revolutionizing the Future of Work. While the intention was to restrict to 5 ways how AI is impacting but the conversation starting touching on more areas. Below is a recording of the same.

Organizations today are faced with the challenge of finding people who bring new skills and value addition to the table. Companies want to build their talent pool and, in the process, they are finding new ways to improve internal mobility, providing employees with growth opportunities, setting up training programs, and reducing biases in HR decisions.

However, companies like ‘Light’ are using AI platforms like E42 to revolutionize the future of work. This simple AI platform take in unstructured data in text format and structured data like ERP and CRM, and help in operations like creating process documents, policy manuals, and product manuals. It can also connect using API’s, define workflows, and perform multiple actions to make an organization’s working more efficient. The best thing about using AI platforms like these in workplaces is that it is customizable and easily deployable.

Post COVID-19, the future of work has been rendered unpredictable. Technology is making huge waves in workplaces, across the world. In this article, we’ll be discussing five ways in which AI is revolutionizing the future of work.

1. Job Applications: A large pool of applications for any role is thrown away due to the number of applicants competing for the same job. However, platforms like LinkedIn use AI softwares to put a cap on the number of applications they receive. This makes it more efficient for recruiters, who have to sort through hundreds of applications otherwise. At the same time, a recruiter may review 10-20% of the applications they receive in a day and even those can have biases towards applicants from Ivy League campuses, passive candidates from competitors, or employee referrals. While discussing applications, diversity biases should also be considered. AI can look at the skills and competencies of the applicant by crunching the data it receives and give companies the best data to eliminate hiring biases.
2. Quality of Hiring: AI uses the data it crunches and screens applicants. By doing so, AI has the power to weed out fake profiles and find particular profiles with web scrapping tools. AI can also send candidates messages on behalf of the company and take a virtual interview to see if what each candidate has written in their resume matches what they answer in the interview, before scheduling a human interview. At the same time, AI can set up platforms along with proctoring mechanisms for candidates to take technical evaluation tests while seeking jobs.
3. Employee Experience: Companies can improve their employee experience by engaging with them from the moment they receive their offer acceptance. AI platforms can help with that by sending out CEO videos, compliance training sessions, benefits tutorials, and more. It will not only engage the employees with the company but also allow companies to predict a new employee’s commitment and interest towards them. AI allows organisations to manage their branding through review sites like Glassdoor and send it to new hires to enhance their understanding of the company.
4. Quality of Work: What takes humans ages to complete, AI can finish up with ease. AI can be trained to complete mundane jobs quickly, freeing up space for HR to assign people to analytical and creative jobs within the company. Recruiters can also do analytical jobs to understand the nature of the candidate applying for a post instead of going through hundreds of resumes and screen them. Deploying AI platforms is a sign that companies prioritise giving their HR and employees an adequate work-life balance and essentially push humans up the value chain.
5. Employee Retention: More than 47 million people resigned in 2021 and one of the biggest reasons for it was that people want better career development opportunities. AI allows companies to capture feedback and feed it into the prediction system to better understand how to retain employees and improve processes like leaves, records of employees, and more. Similarly, AI can be developed to quantify employee progress through methods like mentorships. It provides inputs on how companies can improve skill, communication, and leadership development. It can check on employee well-being efficiently, from time to time and provide confidential reports from them on how the organization can improve, while maintaining anonymity and removing personal biases. Essentially, AI gives companies a 360-degree view of retention strategy and improve the employee’s relationship with the company.

Most of us think of AI to be a fantastical kind of technology that has outer-worldly powers. Our brains conjure up images of robots taking over the world and rendering people jobless. However, current trends prove that AI is already in use all around us, from our search results to the way we shop, and to the way organizations operate. And we are just getting started. Aspiring leaders should ride the wave and use the technology at hand to foster a good working culture for their companies and accelerate their organization’s growth.

When you plan a trip and look for accommodation in your destination city, you know there are certain words that act as a kind of code: “CBD” means it’s about the location targeting a business trip, “beach stay” means a holiday trip, and “Suite” means you are looking for a very comfortable stay.

The HRs and hiring managers struggle to see some words in a similar way pop up visibly in a certain style of language.

In general, these words are vague and jargonish as to practically mean nothing. These words at best will suggest that you are padding your CV or profile because you are running out of things to say; at worst, they suggest you haven’t achieved much of anything in your career worth talking about.

Replace them by heeding that ages-old writing adage to “show, don’t tell;” use active words and concrete examples instead of these tired terms:

1. Strategic thinker

Before putting something like this on your CV, ask yourself how you would demonstrate it if asked to in an interview. It’s difficult to back up. If you have a concrete example, use it instead.

2. Team player

This sounds as if you are trying to fill in words, as though you couldn’t come up with anything better to say. “I don’t have any actual accomplishments, but I’m a team player!” If you want to convey that you work well in groups, again, give specific examples.

3. Responsible for…

This is a blanket statement when describing your job duties, it tells nothing about what you did. One of the prime words to avoid, it tells that you are someone just doing the bare minimum to get by. It would be better to use active verbs like created, achieved, improved, or led.

4. Obsessive

No matter how passionate you are about your work, saying that you are (or, in fact, being) obsessive is not a good thing. Passionate can be a good replacement word here.

5. Problem-solving skills

Problem-solving does not reflect an accomplishment. Instead, list an accomplishment that demonstrates your problem-solving skills.

6. Detail-oriented

Imagine a spelling mistake in your resume and this statement becomes false. If being detail-oriented is a key trait for the job you want, put it into practice by paying particular attention to details when you submit your application and during the interview.

7. Intelligent

Being intelligent and saying that you’re intelligent are two different things. Putting it on a CV or saying it in an interview can come off as egotistical or awkward. (This also goes for words like successful, likable, humble, etc.) Instead, talk about the way you think or approach a problem with words like logical, quantitative, or synthesize.

8. Proactive

This is an often-used business buzzword so much that it has very little meaning left in it. What are you meaning to say? That you are self-driven? That you can identify problems before they happen? Demonstrate this with examples.

9. “Experience working with…”

Experiences happen to you. They are passive. Instead, talk about achievements.

10. Salary negotiable

On a resume or in a cover letter, mentioning about salary just sounds desperate. Unless the recruiter specifically asks for your salary requirements in your cover letter, avoid it altogether until the interview. Do your research and have a specific number in mind when you get the question. It is mostly understood that salaries are negotiated, so saying it on your CV is redundant as well.

In a survey done by CareerBuilder.com asking hiring managers and human resources staffers to rank the best and worst words to use on a resume, the best words all had something in common: they convey action.

Avoid cliches, jargon, and passive terms in favor of active descriptions of your actual achievements, and your CV or LinkedIn profile will stand out from the crowd. 

What are your experiences with using specific words?

Also read – 5 tips to facing a tough interview

Our aim to share these interview tips is because we interview a lot of candidates every day. More than 50 % of the time we know if the meeting with the client is going to work on not. Hence do consider these interview tips for your next meeting. This is not a rule book so you are free to consider using these tips or ignore them.

Wear a shirt and tie

The first tip is to dress as if you were going to a real interview. If you dress as if you already have the job, then you will act differently and be more confident. This will also prepare your body for an interview. If you wear sweatpants, then your body will feel relaxed, your voice won’t project well, and your words won’t sound polished.

Wearing a shirt and tie makes it look like you are putting in the effort—and that can go a long way to getting hired at the company of your dreams!

Have your CV in front of you

In addition to having your portfolio or copies of your best work, it’s helpful to have a copy of your CV in front of you. Having quick access to details such as the dates you worked at previous jobs and the names of employers and colleagues can be crucial if the interviewer asks you an unexpected question.

Look them in the eye during the video interview

1. Look them in the eye (even if they’re not there)

Look at the camera. Even though this is a phone call, find a place where your camera can be placed at eye level and look in that direction while you’re talking. It will make you seem more friendly and open and it will help to ensure that you won’t be distracted by what’s going on around you during the call. Make sure to turn off the TV and keep young children out of the room with you (although sometimes we need to feed our kids, so if that happens, just pause for a minute and let them know why). If your voice begins to sound hollow or disconnected, walk around a little bit or sit on something other than your couch or bed so that your sounds are clearer.

2. Be prepared for technical issues

If possible, use headphones or earbuds so that any noise from outside doesn’t get picked up by the microphone on your phone. Also, use ethernet instead of Wi-Fi whenever possible; this helps improve connection quality and reliability for both parties on the call.

Read all the job descriptions so you know what they want

Take the job description seriously.

Sometimes you will see a job that looks so good for you and your experience, but this can be a bit misleading. It’s important to know what the employer wants before applying for the job, because if you don’t read carefully enough, it may not be possible to get an interview or even worse, get hired and realize that you are not able to do the work. The best way to avoid this is by reading over every word on the application or posting carefully and make sure that you understand exactly what they are asking for so there won’t be any surprises later down the road when it comes time for your interview!

Practice answers with friends

Practicing how you’ll answer questions is a crucial part of preparing for an interview. Interviewers tend to ask many of the same questions, so you can have your responses ready in advance. It’s helpful to practice answering both general interview questions (“tell me about yourself,” “what is your greatest weakness?”) as well as specific questions that relate to what’s on your résumé and application (if you’re applying for a job at a soccer team, be ready to explain why it says on your CV that you once played for the opposition). Asking friends and family members to play the role of the interviewer will help not only with your responses but also with other important aspects of an interview: body language, tone, rate of speech and enunciation, posture, eye contact, level of confidence while speaking. With enough practice, you’ll get comfortable with these factors and have more control over them when it comes time for the real deal.

Lookup the company online beforehand.

1. Look up the company on Wikipedia beforehand. In order to avoid looking dumber than you already are, it’s a good idea to at least look up the company and familiarize yourself with its claims to fame. Find out who the CEO is, what kind of field they’re in, where they’re based and any other information that might be useful. When you arrive for your interview, be sure to compliment them on the recent press release or product launch (that is if it was well-received; don’t bring up layoffs). If there have been any major shakeups recently, then make sure you know about them and have an informed opinion ready when asked.
2. Brush up on industry news at large. It doesn’t hurt to be aware of some recent headlines in your prospective employer’s industry as a whole. Don’t go overboard with this step — no need to spend hours reading through financial blogs — but it definitely wouldn’t hurt to seem like someone who pays attention and keeps abreast of current events relevant to one’s interests or career goals

Conclusion:

Looking presentable, doing research, and practicing will go a long way to doing well in an interview.

As a candidate, it’s your responsibility to do the research you need before your interview. Researching the job is crucial because you want to make sure that the right person gets hired and that the job is right for you. To accomplish this, read through the job description as well as any other information about the company online to learn about what it does and why you would be great for this position. You can also call one of their representatives to find out more information or ask when and where they are hiring if you’re not able to attend an open house in person.

At the interview, look presentable by wearing clothes that are appropriate for an office environment: business casual is normally fine (as long as there aren’t jeans or shorts) but dress shoes are always a good idea because most offices have rules about not wearing sneakers in their buildings. Also, remember that sometimes interviews might start at different times so be prepared to leave on time if they don’t seem as interested in seeing you once they realize how late it is getting. If possible, bring a book so that you can pass some time while waiting (and some extra copies of all your resume).

After the interview, give yourself credit for doing well. This means setting up a timeline with all of your interviewer’s contact info right away because by then you should know whether or not they are going to hire you! It also means sending them thank-you notes (both those who called back and those who did not). We hope these Interview tips help you prepare well for your next big meeting.

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Companies use acquisitions as a strategy for a various reasons. Some purchase others for tactical reasons like entry into new markets, products, or services. Others do it to obtain economies of scale, benefits, or portfolio diversification. Acquisitions can also be reactions to specific market changes to stay on top of the competition. Acquisitions tend to occur when the market starts offering new revenue opportunities and that’s why technological niches have a huge demand among every industry.

In recent times, the AI world has seen large-scale acquisitions within the niche. One of the latest ones being Microsoft Corp’s acquisition of the leading conversational AI Nuance Communications Inc. The AI is known to have intelligence across industries including healthcare, retail, financial services, and telecommunications, making it a huge acquisition.

And it isn’t specific to Microsoft alone. We take a closer look at other tech giants like Facebook, Amazon, Google, and Apple who have all adopted aggressive acquisition strategies in the last decade. Apple has made over 20 acquisitions since 2010, followed by Google which made 14 and Microsoft making 10 in what the world is seeing to be an AI race.

Google recently acquired the semiconductor IP company Provino Technologies, which develops interconnect protocols for consumer security appliances. Apple’s acquisition of the AI company RealFace led to the development of features like FaceID in iPhones. Facebook acquired a London-based computer vision start-up called Scape Technologies to build on its LiveMaps feature through an AI-driven AR and VR mapping. Amazon also acquired Zoox at an estimated deal of US$1.2 billion to develop on self-driving cars and revolutionise the company’s delivery infrastructure.

In fact, many of the products and services are being developed out of major AI acquisitions by the leading tech companies like Apple’s Siri and Google’s contribution to healthcare through DeepMind. Other top acquirers include crucial tech companies like Intel, IBM, Twitter, and Salesforce. That being said, these tech giants aren’t the only ones undertaking large-scale acquisitions in the AI world.

Since 2010, there have been more than 600 acquisitions by companies seeking to build on their AI capabilities. These large-scale acquisitions have been growing at an increasing rate, and it’s just the beginning. There is a growing diversity in acquirers. AI was once within the exclusive territory of the major tech giants but smaller start-ups are now becoming acquisition targets in the insurance, retail, and healthcare industries.

At the same time, the AI world is growing. The explosion of big data created a need for technology-based solutions to control, organise and analyse all the information that was beginning to collect. Companies thrive on huge amounts of data and acquiring AI deals allows for businesses to understand the data and make organisational decisions at a competitive pace.

Technological advancements are motivating tech giants and upcoming corporations to identify future breakthroughs to improve their goods and services for customers. Acquisition of AI is breaking through the barriers that otherwise held them back from reaching their maximum potential. The best tech minds are jumping at the chance to accelerate their product development, spanning their reach across billions of consumers and enterprises. As digital transformation accelerates, organizations across sectors are finding benefits in large scale acquisitions in the AI world and leading the AI race that the world is coming to see.

Undeniably, Covid-19 has changed how the world functions. Today’s job market is constantly evolving. Over the past year, we have seen an increasing dependency on technology. People adapted to work from home using various technological tools. As a result, skill development has become the need of the hour for most people seeking jobs. 

What is Skill Development? 

Hiring trends are changing as quickly as employers expect a potential employee’s skills to adapt. Companies are facing skill challenges and adapting their hiring policies to make up for the gaps. Many positions in companies are in demand but hard to fill because of skill gaps. Employers are seeking potential employees who have some technical and soft skills they consider to be essential. 

Why Should You Aim To Upskill? 

Companies are seeing talent as a renewable resource and are changing their policies to acquire it. Many are offering training to their workforces, enabling employees to grow in their current positions and add value to the organization. Many individuals prefer to upgrade their skills through online courses, night classes, specializations, or any other kind of professional training. The importance of upskilling is more now than ever. Covid-19 has had a significant impact on the job market. Unemployment rates are increasing, and research has proven that the global economy has reduced considerably. At the same time, the world shifted to the digital economy, and the job market is adapting itself to the growing technologies and innovations. Digitalization has created new jobs that did not exist before, like app developers, cloud computing specialists, design thinkers, and social media managers. Moreover, digitalization has created a new demand for technical and soft skills. Hence, it becomes crucial to upgrade your skills and update your resume continuously.

What Skills Are Employers Seeking? 

 As new opportunities open up, here are some areas you can consider to upskill in to present yourself as a strong candidate for potential employment: 

1. Technical Skills – 2021 has seen a digital transformation take place. The nature of remote work and the changing digital economy have made IT and technical expertise valuable for companies. Some other in-demand skills are Robotic process automation, Cloud computing, ArtificiaI Intelligence (AI), Natulral language processing (NLP) and machine learning(ML), programming, blockchain, VR and AR, User-experience design, app development, audio and video production, and cybersecurity. 
2. Language and Translation – Work from home connected people across the globe, and communication became a necessity. Studies have shown that speaking a foreign language increases an employee’s performance at work and salary. 
3. Data analysis – With digitalisation, the world also moved towards a data-driven world. Companies make big decisions based on the data collected and stored. Moreover, with artificial intelligence making data collection convenient, it becomes vital for job seekers to upskill in data analysis and statistics. 
4. Soft Skills – Soft skills are personal skills that set you apart from the technical skills needed for a job. Some in-demand soft skills are leadership, creativity, problem-solving, collaboration, adaptability, agility, persuasion, growth mindset, and emotional intelligence. Soft skills go a long way in distinguishing you from the crowd. 

Hiring trends in the corporate world have shifted to considering employees with a well-rounded background. As a job seeker in the global pandemic, you can ensure a strong candidacy by using the data and technology available to upskill.

Additional reads –

1. NAM supports skill development as part of NAM Academy.
2. Top technology trends

The start of the decade was declared a global pandemic by the World Health Organization. As the world grappled with changes brought about by the now-infamous coronavirus, communication shifted to remote locations. Work from home became the new normal as people across the globe logged in to zoom meetings and conference calls. 

COVID-19 not only changed how we communicate but also the way office spaces operate. ‘Stay at home’ became par for the course for many employees. While general anxiety about the pandemic prevailed, many people became comfortable with the new rules. 

After a year of social distancing and working from home, offices are opening up for employees to return to work. As employers are calling their staff back for in-person work, the prospect of readjusting to the old routine is daunting to many employees. Given the current situation, one cannot ignore the paradoxes that have domineered over the corporate world. 

• Paradox 1: Studies have shown that 94% of workers are undergoing stress due to COVID-19 restrictions. People have been rushing to get their vaccine doses in an attempt to gain immunity. The collective desire for herd immunity and the anxiety of going back into the same herd poses an unprecedented oddity in working spaces around the world. 

• Paradox 2: Coronavirus has created the need for social interactions in an isolated society. Work from home in the past year has pushed people further into the rabbit hole of technological dependency. Returning to workspaces would force employees to find ways of remaining human and use their newly earned skills at work. The idea of being able to readjust to this scenario is intimidating to many. 

According to experts, it is natural for such paradoxes to exist. For over a year now, people have had a sea change in routine. Despite being vaccinated, fears persist in everyone’s minds. To add to the anxiety, public health messaging has emphasized the idea that staying at home is the safest way to avoid testing positive for COVID-19. For employees to worry about returning to work is natural. Moreover, people have faced personal losses during the pandemic.

As much as we would like the world to return to its former, mask-less glory, situations have changed for many. Returning to work will not be as easy as we think it might be. The good news is that our brains have been conditioned to adapt to fast-paced changes and new situations in the past year. While returning to work might be daunting, the only way to adapt to the paradoxes is to accept that COVID-19 is a unique situation, be kind to ourselves, and be mentally prepared for what is to come.  

NAM has experienced several requests by employers to assist to hire staff who can continue to work remotely until such a time that organizations feel comfortable to safely allow employees be back to work. In the process we are inviting to