31 May Demand for Artificial Intelligence Talents Is Driving Global Mobility Growth
Globalization can generally be positive for the global mobility sector and its managers and professionals. Company expansion into new markets and the strengthening of intercultural relationships between countries and their communities serve to lower previously existing barriers while promoting trust and cooperation.
Along with the mutual exchange of resources and knowledge, talents from all sides of the globe will find that more international doors are opening for opportunity, such as employment, training, and learning.
A recent study by the Global Banking and Finance Review enumerates several factors that are driving this growth: the emergence of artificial intelligence from the fringe into mainstream business as an industry booster; the acceleration of sector convergence and the quick adaptability of companies to make a more agile transition; and the increased hiring of diverse, highly skilled talent, which in turn encourages human resources and global mobility managers alike to develop inclusive programs.
The International Monetary Fund is the bringer of good news, citing an overall growth of 3.9 for all global economies by the end of the year. Its own survey, conducted among 21 countries, shows that the participants have a more optimistic outlook: 60 percent of the managers who responded forecast a growth of six to nine percent.
While certain concerns remain constant, such as sustaining the momentum through continuous funding and a reliable cash flow, the prevalent atmosphere is one of confidence that in turn fuels diligent, optimistic planning.
The shift to adapting AI and accepting it as a tool for business growth has been nothing less than dramatic, says the report. Only a year ago, globally, CEO’s of small to medium-sized enterprises and middle-market companies were firm about not employing automation and sentient machines in their professional domains — at the rate of 73 percent. Flash forward to the present — and to date, 74 percent of these same company heads now say that they are planning to deploy AI into their ranks and invest in automation in the next two years.
Global mobility managers who are already used to harnessing a lot of digital tools for their craft can make the shift to using AI quite easily.
As forecasted by several industry experts, AI can become an accurate and effective program in the recruitment of talents as well as their performance evaluation later on during their active employment. As reported by Forbes, the digital ancestors of the androids we have seen in science-fiction movies can make recruiting “smarter.”
Functioning according to the same principle that powers analytics, AI can make the recruitment efforts of global mobility managers easier simply by screening resumes, CV’s, and profiles of candidates and determine the qualified ones based on set criterion. Once the candidates have been selected, AI can further trim them down by immediately deploying tests and other assessment tools that can measure the level of their mastery of the required tasks.
HR managers and global mobility managers alike spend hours just poring through CV’s, implementing tests, and then checking their results; AI can save them this time and trouble, freeing them to do more crucial tasks such as personally interviewing the candidates that have been pre-selected.
Merging businesses and diversifying products
One true thing about the 21st century economy is that nothing stays the same for long. The old adage about change being the constant norm has become more resonant, powerful, and sometimes jarring. Companies that used to deal with and market only hardware, for example, can be compelled to go into software, if only to increase the market that has been based on their loyal customers.
New technology can discard old platforms in order to grow a company in a more innovative platform that has a wider market reach and very little competition; Netflix is one classic case that built its movie-streaming service into a powerful and global content creator that is fueled by the subscriptions of millions of devoted viewers around the world.
Even the most popular and formidable brands are redefining themselves. As reported by The Toronto Tribune, Amazon, which is the undisputed leader of e-commerce, is now rocking the once stable world of banking and finance. Jeff Bezos’ empire hurled the gauntlet at financial institutions recently when it unveiled its plans to go into fintech and consumer lending.
Global mobility managers have to stay on top of this game by continually keeping their ear to the ground. It may no longer be enough to study the industry of the assignees they are recruiting or the companies they are employed in.
It may be time to dig deep into several businesses and see the potentials that can emerge if the sectors they are proximate to merge with their nearest allies. Global mobility managers may also start looking for skilled assignees who are agile enough to adapt to any sector convergence. More important, they can also screen assignees’ CV’s for experience in serving and working in two industries simultaneously.
The distinction of diversity
Diversity is no longer an option in mainstream business, but it is being recognized as a way to open the playing field for qualified talent, regardless of their color, gender, gender orientation, and country of birth.
Global mobility managers have long thrived on one principle which the rest of the business world just might be catching on now: talent is not confined to one country, region, or community. The tech hubs in Northern California are a glowing testament that diverse peoples from various countries can come together, work as equals, and create innovations and technologies that will promote business growth and reshape the world.
What the global mobility manager can do is to increase their company’s stake in this area. The increase of programs that can encourage diverse talent to apply is one step in the right direction.
The cultivation of a diverse-friendly workplace where the assignee or foreign talent can perform at their best without fear of ridicule is another.
A third step that the global mobility manager can do is develop a pipeline of diverse talent, as competition for their skills become more intense. The next few years will have CEO’s and Chief Human Resource Officers driving more inclusive programs to draw in top global talent.
Global mobility managers who have been riding this crest for years can actually surf faster and move into deeper waters of recruitment than their competition which may just be starting now.