Can Artificial Intelligence help in avoiding mass layoffs? This company has the answer

Deloitte: This year, large consulting businesses face an unusual challenge, they have to let off hundreds of workers while hiring a large number of recent college graduates to keep up with demand. Deloitte LLP is one of the major players in the market that is leading the way in utilising AI to handle this challenging situation.

Deloitte is reportedly using AI to prevent layoffs

According to a report by Bloomberg, Detailed assessments of the competencies of the company's current workers are reportedly being made through artificial intelligence. Employers in less active departments within the company are to be selectively reallocated to responsibilities with greater demand and significance as part of this plan. To control its employment habits over time, Deloitte sees this as a crucial first step in leveraging technology.

After deciding to hire over 130,000 people this year in 2023, Deloitte made the decision to assess and map out its workforce based on abilities. As the company purportedly had to restructure several divisions and businesses due to a downturn in demand, it also sent a warning to its US and UK employees that their jobs would be eliminated in the midst of the massive hiring.

What did the officials say?

The goal of avoiding sharp swings in recruiting and firing was highlighted by Stevan Rolls, global chief talent officer of Deloitte. He stated that improving talent acquisition methods' efficiency is crucial. He said,  "You could always be more efficient and effective about finding the right people."

Automating time-consuming, repetitive tasks that are usually given to younger staff members is something that professional services organisations like Deloitte have already begun to experiment with employing generative artificial intelligence for. ChatGPT has made this technology widely known. It simplifies tasks like compiling data for client presentations or preparing documents for internal meetings.

They do, however, now concentrate on using AI to automate the administration of the large number of new employees they hire each year. With its recent recruiting binge, Deloitte now employs close to 460,000 people, which is three times more than it did ten years ago when revenue was half of what it is now.

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