Whether it’s Siri, Alexa, ChatGPT, or Google Translate, artificial intelligence (AI) has become a part of our daily lives. When applied strategically in the workplace, AI can be a valuable asset; studies have shown that AI can boost business performance by as much as 40%. As a result, using AI presents exciting opportunities for payroll professionals to improve their daily operations.
In the webinar, “Striking the Right Balance: AI and the Payroll Professional,” sponsored by Alight, Sarah Baxter, Director of Payroll Advisory Services, and Wilson Silva, Senior Vice-President, Strategic Payroll Advisor at Alight, provide an overview of the following:
- Types of AI
- AI trends in payroll
- How AI can best serve the payroll professional in their day-to-day operations
- Risks versus benefits of AI
- How to get started with AI
Throughout this insightful webinar, Baxter and Silva encourage payroll professionals to think of AI as a “talented co-worker” rather than a replacement.
“AI doesn’t displace the payroll professional, but assists in getting their job done,” Silva said.
Baxter and Silva delve deeply into how AI can help ensure payroll accuracy. They also cover those areas where payroll professionals may effectively use an AI “coworker,” including employee assistance, payroll error prevention, and predictive analytics. Positive outcomes from the use of AI in these areas include the following:
- Process automation
- Reduction of manual work
- Responding to payroll inquiries automatically
- Delivery of data that allow payroll professionals to improve the employee experience
- Provision of guidance on compliance changes faster and more clearly
By using AI in these areas, payroll professionals can reduce the amount of day-to-day manual work or, in other words, “automate the mundane.” Doing so allows payroll professionals to focus on the more meaningful or challenging aspects of their jobs. However, none of this is possible with AI alone.
“The human is still in the driver’s seat,” Baxter explained, “Without the person who has the knowledge, we won’t get this built.”
This is a recurring theme that is present throughout the webinar: for AI to work effectively, it requires the expertise of the payroll professional.
“AI is not a substitute for human intelligence but rather a tool to assist the payroll colleague,” Silva said.
When this tool is wielded effectively by payroll professionals, a harmonious and beneficial partnership may be built.
Register today for the free, now available on-demand webinar, accessible until 31 December.