OMAM Pulse - August 2024

Dear Colleagues, welcome back!

AI seems to be making a splash everywhere, quite literally! So, no surprises for guessing that it is kind of a focal point for us in this edition. In fact, SAP is calling2024 the year of artificial intelligence
and with good reason!

It’s no longer in the works or the relatable unknown- it’s here and here to stay as they say! A Career Builder Survey
states how 93% companies reported higher time savings and efficiency, while 67% also saved on costs and resources alongside. And if you go by an SHRM report, 85% of employees utilizing AI or automation have reported higher efficiency and time savings too.

So, switching gears towards harnessing
AI for good is clearly the need of the hour, in the new normal of the business landscape. To quote Victor Hugo,
all the forces in the world are not so powerful as an idea whose time has come. That’s what it seems to be as far as AI is concerned.

On that note, here are all the updates you need to know this month.

This month’s HR headlines

India Today Group HR Chief Emphasizes Processes and Tasks for Those New to AI
Chief Human Resource Officer, India Today Group, Purva Misra, recently attested to the importance of AI as per media reports. At the Digital Media India conference in New Delhi, she clearly stated how this transformation is happening whether or not you are fostering collaboration in your organisations, whether you are formalizing it or not.

However, she did sound a note of caution regarding how AI is used in the industry.

Her solution?

Training high performers first, because they
ask the right questions, there by syncing well with Generative AI. She also put it beautifully when she said generative AI cannot do things on its own, so imagine it’s like your friend who doesn’t know the company. You’re taking it around. You’re orienting it. Amen to that!