Why companies should use knowledge-sharing tools
3 Benefits of AI-Powered Knowledge Sharing Platforms for HR
Did you know that up to 35% of an average workday is spent on searching for information? For process-heavy verticals like HR, this could add up to massive inefficiencies over time. We spoke to David Karandish, CEO of Capacity, discussing:
- Three instances where AI-powered knowledge sharing could play a role in HR
- The benefits of using AI for the management and sharing of knowledge
- Why next-gen knowledge sharing platforms will be a staple for future enterprises
HR is regularly tasked with connecting various stakeholders across a company, from line managers and existing employees to candidates and new recruits. Inevitably, this involves a lot of effort spent on document management, taking away valuable time from more strategic activities.
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As the workforce continues to grow and processes become more complex, HR is routinely redirected to knowledge management tasks that consume an inordinate part of their workday. This is why intelligent knowledge sharing platforms are so important. They provide access to the most relevant information and make information updates simpler, reducing pressures on HR practitioners.
We spoke to David Karandish, CEO of the knowledge-sharing platform provider, Capacity, about the role of next-gen knowledge management tools in HR and the benefits of leveraging artificial intelligence (AI) in this area.
How AI-powered Knowledge Sharing Could Make a Difference in HR
Even in the digital world, employees frequently rely on legacy systems to access vital data. And when these systems fail to deliver the right information at the right time, or are so difficult to navigate that employees require human assistance, they inevitably turn to HR.
Karandish explains this further: “Team members are forced to rely on outdated intranets, ‘specialized’ software, and slow-moving help desks, which act as a barrier between team members and the critical HR information they need, including pay, benefits, training, and company policies.”
A dedicated knowledge management tool replaces this with an easy-to-use portal where employees, line managers, and HR teams can quickly access the information that they are looking for. This should be more than just a digital platform for storing and retrieving documents – using the power of AI and conversational interfaces, a next-gen knowledge-sharing platform will be able to understand and respond to genuine human queries.
Knowledge sharing technology can find application in a variety of HR use cases:
- During employee onboarding, hiring managers must quickly disseminate a large amount of knowledge. This also involves inputs and approvals from various line managers – as a result, the onboarding process could become longer than necessary, or even lead to a negative experience due to knowledge fragmentation.
An AI-based knowledge-sharing platform could intuitively understand possible in the recruits’ experience and suggest additional inputs. Instead of shuffling documents around from department to department, HR can communicate with stakeholders via a conversational interface to obtain approvals.
- Employees can easily find their personal information as well as updates on organizational policies through simple natural language queries. There’s no need to peruse complex documents to find the relevant results – the knowledge sharing platform uses AI to process the request, locate the source of information, and return an answer in a matter of seconds.
- Company documents management becomes more streamlined as cross-departmental stakeholders could share their inputs, reassured that the knowledge management platform would capture and store the data. Everyday processes such as policy sign-offs, strategic collaboration, and routine reviews can be completed at a fraction of the time and effort.
For instance, an HR manager doesn’t have to initiate an endless email trail to finalize a new hiring budget. The knowledge-sharing platform will create an intelligent workflow that maintains accountability while speeding up the conversation.
These are only a few instances where an AI-based knowledge-sharing platform could prove beneficial to HR. Let’s now look at how cutting-edge AI technology is making knowledge sharing a faster and smarter process.
3 Reasons Why You Need the Power of AI for Knowledge Management
There’s no denying that a knowledge management system plays a crucial role in any organization, in HR as well as in other areas. A delay or an error in the knowledge retrieved could have serious consequences, including non-compliance, missed business opportunities, and poor employee experience. That’s why the intervention of AI is so necessary – it can:
1. Connect to a plethora of data sources
The chances are that your organization relies on information flowing in through multiple data sources, including the company intranet, a benefits administration platform, an HRIS, a ticketing system for employee requests, and so on. How do you find a timely resolution to queries when there are so many sources to scan?
An AI-based knowledge management platform can be integrated with existing enterprise systems to create a single source of truth. As a result, employees can access data no matter where it is housed, even from a remotely located device.
2. Dynamically update the available knowledge repository
The governance of enterprise knowledge is another area of concern. It isn’t enough to create new policies and documentation without updating old records. Over time, HR could create massive libraries of information, of which only a small slice is relevant for day-to-day operations.
Using AI, the knowledge-sharing platform could ensure that every record living in enterprise systems is up to date. Any alteration or addition to existing data is incorporated into the system without entering a new record. This could have a massive impact on employee experience and business success, as every stakeholder is equipped with the latest data at the right time.
3. Simplify knowledge search using predictive capabilities
In a large enterprise with several verticals and business units, qualifying a search query could be a cumbersome task. For example, an HR manager would have to enter detailed descriptions of a document in order to retrieve the correct knowledge – this lack of intuitive understanding is a major hurdle, diverting attention to administrative details that could be better employed in generating value.
Instead, a knowledge-sharing platform leverages the predictive capability of AI to contextualize every query and promptly arrive at the relevant input. Natural language processing (NLP) lets users search for knowledge using the spoken language, and machine learning algorithms predict the intended search results based on previous documents accessed and shared.
AI could revolutionize knowledge sharing as we know it – and the timing couldn’t be better. Studies suggest that existing approaches are replete with inefficiencies, and enterprises should look at a smarter alternative.
Why AI Is Poised to Become a Staple for Knowledge Sharing Systems
In the age of Netflix and Google, employees expect the same quality of experience when interacting with enterprise systems. Unfortunately, traditional knowledge management and sharing aren’t equipped for this need.
Karandish highlights how the legacy nature of knowledge processes is hindering productivity. “In a single day, up to 35% of an employee’s time is wasted just looking for information – over time, that’s billions lost to inefficiency. A knowledge-sharing platform solves this issue by mining documents and spreadsheets and capturing tacit knowledge – making all organizational information easily accessible through a single platform, so employees and HR teams can easily access the information they need.”
Going forward, AI-powered knowledge sharing platforms will become an enterprise must-have, helping stakeholders to communicate better, improve internal and customer-facing experiences, and unlock incremental value from everyday processes.