Author: Admin Ad Astra

Stacking up ChatGPT and Human Intelligence: Is There Any Difference?

As an AI language model, ChatGPT has taken the world by surprise while it continues to develop from the knowledge we feed it. The chatbot became a matter of controversy and debate instantly as we started comparing it to human intelligence and the fear of it overtaking jobs. Therefore, it is crucial to understand the substantial difference between human intelligence and ChatGPT.

First, human intelligence is a complex interplay of cognitive abilities like perception, memory, reasoning, and creativity. Humans have the ability to draw learning from their experiences and sensory-perceptual awareness of the external world on the other. In contrast, ChatGPT is a machine-learning model that is trained to mimic human communication and intelligence. The intelligence that chatbots like ChatGPT create is an abstraction of mind and knowledge, that is cut off from the primary human data of bodily feelings.

Secondly, human intelligence has the ability to problem-solve in situations that it has never encountered before. It holds the capacity to innovate and adapt to situational demands. On the other hand, ChatGPT operates within the limits of its programming and data set. While it can generate responses and can be trained for better performance, it cannot go beyond its set of programming.

Finally, the human brain is aware of itself. It holds the sensibility of self-awareness and introspection on past learnings, values, and beliefs to make decisions. ChatGPT lacks this understanding of self-existence.

In conclusion, while ChatGPT has made significant advances in natural language processing, it is still a machine learning model that operates within the limits of its programming and data set. It is in the development phase and relies on human intervention. It is worth noting that human creativity and capability have made such software possible. Human intelligence, on the other hand, is much more complex, encompassing a wide range of cognitive abilities, creativity, and subjective experiences. It’s safe to say that ChatGPT will need time to achieve a level of thinking and understanding that matches human capabilities.

Redefining Jobs with ChatGPT

The rise of ChatGPT, an AI-led tool, has transformed the way businesses operate and interact with customers or clients. What is more, it has also impacted the nature of work itself, with ChatGPT being used to redefine jobs and create new possibilities.

One of the ways in which ChatGPT has redefined jobs is by automating routine and repetitive tasks. This has allowed employees to focus on more creative work, leading to greater job productivity and satisfaction. For instance, it can be used to automate customer service inquiries, thereby freeing up customer service representatives to handle more complex issues and providing customers with real-time responses.

In addition to this, ChatGPT has also created new job opportunities in areas like machine learning and natural language processing. Businesses are looking for employees who can design and train ChatGPT models, as well as analyse and interpret the data generated by these tools. There is a growing demand for individuals with expertise in these areas, as well as for individuals with the ability to think creatively and develop new applications for ChatGPT.

Another way in which ChatGPT is redefining jobs is through its ability to improve collaboration and communication within teams. It can be used to facilitate communication between members who speak different languages, or to assist with translation. This can lead to greater efficiency, improved understanding, and better outcomes for tasks.

Finally, ChatGPT is changing the way we think about training and education. With its ability to generate human-like responses, the model can be used to create interactive learning experiences that simulate real-world scenarios. This can help students develop problem-solving skills and critical-thinking, as well as prepare them for jobs that require natural language processing and communication skills.

In conclusion, it is important for individuals and businesses to understand the potential of this technology and adapt to the changing nature of work in the age of ChatGPT.

Is EV the new IT in India?

Seven years from now, the Electronic Vehicle (EV) industry is slated to hire ten million people, i.e., ten million as direct recruits into the EV industry and another 50 million in EV-allied jobs, as per IBEF reports. Even in a buoyant job market, this figure is staggering. Coming from auto-industry leaders and the Government of India, the news ushers opportunities and change. EV will electrify the market and catapult recruitment. This is the next great opportunity for India, the fastest and the largest ever.

The blueprint of change
In 2022, when India pipped Japan to become the world’s third largest auto market, auto sales never looked better in the country. Today, with over 21 crore two-wheelers and more than 7 crore four-wheelers, the Indian roads are busy. Just as busy is India’s auto industry, which at present is the fourth largest in the world.

Poised to break into this market and change the entire lay of the land is India’s EV Industry.

As per National Institution for Transforming India (NITI Aayog), by 2030, 80 per cent of two and three-wheelers, 40 per cent of buses, and 30 to 70 per cent of cars in India will be EVs. This includes all government-owned vehicles.

In addition to the existing 2,700 public charging stations and 5,500 charging connectors, to support the expected demand for EVs, India will need as many as 20.5 lakh charging stations by 2030. This monumental task must be completed alongside EV manufacturing and sales.

Driving India
India’s climate commitment, the critical need for clean, green energy which is less dependent on fossil fuel and the goal to achieve net zero carbon emission by 2070, are the driving forces behind this goal. EVs will help in achieving these objectives, because unlike vehicles that run on traditional gasoline, EVs are fuelled by Lithium Ion batteries that are less polluting and more energy and cost efficient.

For a nation that is looking at shifting from being a purely service driven economy to a global hub for manufacturing as well, EV manufacturing and allied services will play a mission critical role.

The EV umbrella
Included under the enormous EV umbrella are India’s original equipment manufacturers (OEMs), EV franchisers, battery manufacturers, manufacturers of EV components and accessories, solar vehicle charging and battery swapping infrastructure providers, a seamless supply chain, battery recycling plants, companies that can set up charging stations across the country etc.

The Ministry of Skill Development and Entrepreneurship believes that this huge task, owned by the EV industry, will generate one crore jobs by 2030. Compare this with the IT sector which is laying off thousands of people every day and a clear picture will emerge as to why EV is looking like the next big boom for India.

The multidisciplinary EV industry will create employment opportunities for entrepreneurs, researchers, product designers, mechanical engineers, chemical engineers, IT professionals, quality testers, infrastructure developers, charging station personnel, e-cab owners and drivers, EV maintenance mechanics, personnel who are proficient in retrofitting of vehicles from petrol/diesel to electric and sales and marketing personnel.

All hands on the deck
For starters, to promote the use of EVs all stakeholders are in action mode. Both the Central Government and State Governments have rolled out multiple initiatives to support its electricity mission, including a blueprint to generate 10 million jobs and supply skilled manpower to the industry. In fact, a specialised EV course curriculum is in the making, to cater to the expected workforce demand. Manufacturing companies are sealing tie-ups with colleges and training centres to run short and long-term courses to create ready-to-hit-the-road-running engineers, technicians and marketers. What is more, entrepreneurs in the EV space are being given special incentives to come up with innovative solutions.

Opening new doors
Studies reveal that with more EVs hitting the road in 2023, the industry will see 40-45% expansion in the job market in the coming months. At present, the industry is a fertile ground for research and development, new engineering departments, new and innovative product designers. Existing EV players have hired more than 2236 core employees in the past six months, many of them women in top management positions.

Incidentally, the EV industry also boasts of a fully women-run factory in Tamil Nadu.

OEMs are expecting to launch 20 -30 new EVs by 2030 and are looking for analysts and product designers. Semiconductor companies need engineers with EV power-terrain knowledge. Their vendors and suppliers are hiring people who are experienced in last-mile delivery…
IoT, ML, AI and EVs.

Green Mobility, which will be the next big game-changer on the horizon, uses technologies such as IoT, ML and AI to complement it. These technologies will allow EV vehicles to communicate information regarding battery performance; it will allow EV drivers to access maps and other information, thereby saving time, ML algorithms combined with advanced data analysis tools will provide safer driving experiences by identifying obstacles ahead of time. New product designs will help people with disabilities to be mobile and have access to work opportunities.

The stars are aligned – the government, environment, market demand, technology influence, EV options for all strata of society, the export market, employment opportunities and the recent discovery of Lithium in Kashmir. These factors will lead to exponential growth, both from a pull and push front, and redefine India like nothing before.

The writer is founder and MD, Ad Astra.

Blogger’s Park: Why look at the rear-view mirror?

Legacy might not be sustainable for some family businesses

We have witnessed dissent between family members over control of their family enterprise turn into a public, corporate fracas. Billionaire family members have engaged in long feuds over the future of their century-old global business empire. More recently, we have seen companies being put on the block, because of the unwillingness of the next-gen to run low-margin businesses.

On the other hand, several businesses have become innovative, nimble and adaptable to change. There’s little doubt that being flexible while staying transparent and inclusive is the best way for family-run businesses to take their legacy forward.

Gen-Z business heirs, who often have business degrees and global exposure, are placing fresh perspectives on the table. They are taking calculated risks, expanding their company’s product range, entering new markets, investing in new business lines and forging new partnerships. They are quick to embrace new technologies to streamline their operations. Family enterprises are investing heavily in technology to connect with new customers and offer a premium experience.

As businesses grow, families might not always find the most qualified persons for specialised roles, within the family. To have a choice of avant-grade professionals who align with the company’s goals and values, businesses are engaging recruitment partners who not only streamline the hiring processes but also find the right fit for core roles.

Advisory boards often comprise friends and family members. While this may satisfy compliance, it does little else. Board members must be equipped to provide strategic direction and unbiased opinion. In a shift from the past, businesses now enlist the help of professional services for structured coaching to board members.
To resolve the succession debate, farsighted Indian business families are adopting family constitutions. This Code of Business Conduct is framed after the buy-in of all members and enforces family governance. It discusses values and beliefs, percentage of each member’s stake, succession planning, voting rights, contingency plans, roles and duties, remuneration, retirement, etc.

Serious focus on concerns such as diversity, equity, inclusion, sustainability, the environment, and CSR are key to modern businesses. Increasingly, women are being included in leadership roles in family-run businesses. For example, a family-run healthcare business catapulted into becoming one of Asia’s largest chain of hospitals, thanks to the strong leadership by the founder’s daughters.

As India’s family-run businesses evolve, this section of business that contributes around 79% to the nation’s GDP must take progressive, need-based decisions.

Robust final placements at top B-schools allay fears of slowdown in hiring

Hiring intent for freshers has improved by 3 per cent for the current half-year (January–June, 2023) over the July–December 2022 half-year

Amid reports of massive layoffs in the IT industry, the robust final placements at top B-schools including the IIMs (Indian Institute of Management) seems to have allayed fears of a large scale slowdown in hiring. According to industry experts, there has been a rise in the number of offers doled out and average pay package offered to candidates from top business schools and this is likely to have a trickle-down effect on the overall market.

There is also likely to be a strong demand for fresh graduates as employers realise that hiring lateral talents at a premium is not helping them achieve the intended RoI (return on investment).

“The IIM graduates are a small cohort…..obviously these are elitist set of students. Even if job markets are bad, they still have 100 per cent placement. But what is coming out definitely what I can measure from them is the number of offers that they get, which shows that how many employers are bullish about picking – is there five or 50 and that talks about sentiments and second is that if the package rates are going up, it shows the bullishness amongst employers. So of the 50 who have gone to IIMs possibly ten of them will pick candidates from there and the remaining will go to the next institution because that demand is still there so there will be a waterfall effect on other institutions too,” Shantanu Rooj, Founder and CEO, TeamLease Edtech, told BusinessLine.

Robust placements

IIM Calcutta, which recently completed the final placement process for the 58th batch of its flagship 2-year MBA programme, saw a three per cent rise in average yearly salary and close to nine per cent rise in median salary offered to the candidates this year. The institute secured close to 573 offers for the entire batch of 2021-23. Students received average yearly compensation of ₹35.07 lakh this year as against ₹34.20 lakh last year.

The lateral and final placements for the PGP and PGP-BA Class of 2021-23 of IIM Bangalore saw 606 offers, leading to all 512 students who appeared for placements being placed over two interview days.

According to Professor Debolina Dutta, Chairperson, Career Development Services, IIMB, students received offers from reputed companies despite a slowdown in the market. The institute also witnessed the participation of companies from overseas locations like Europe, Dubai and Singapore.

IIM Ahmedabad, which completed its final placement process 2023, saw firms from multiple domains participating across the three clusters. The second cluster comprised of five cohorts including conglomerates, consumer goods & durables, consumer services, pharma & healthcare and retail B2B & B2C while third cluster included 8 cohorts- analytics & IT consulting, BFSI, consumer tech, core manufacturing & infrastructure, enterprise tech, education tech, logistics, and government enterprises. The institute is yet to release its final placement report.

Consulting, finance and product management were some of the key sectors hiring in big numbers across most of the institutes.

Pay package

IIM Udaipur registered 14 per cent rise in the average CTC and 16 per cent increase in the Median. The highest CTC stood at ₹36 lakh per annum and the top 25 per cent of the batch got an average CTC of ₹28 lakh and the top 50 per cent bagged an average of ₹24 lakh. The average CTC of the whole batch stood at ₹20.3 lakh.

The PGP Class of 2023 at the Indian School of Business (ISB) saw recruiters across sectors hiring in large numbers. Despite the global economic uncertainty and the predicted slowdown, 222 recruiting companies made 1,578 offers to students, according to information available on the institute’s website. The average annual accepted CTC stood at ₹34.21 lakh – a 2.5 times increase from the average pre-ISB CTC of Rs 13.39 lakhs.

“The Indian market is steadily improving across the board and the non-IT sectors are hiring and that is a good sign. We are insulated to an extent possible,” Nirupama VG, Founder & MD, AdAstra, said.

Bullish on hiring freshers

Hiring intent for freshers has marginally improved to 62 per cent for the current half year (January–June, 2023) – a three per cent increase over the July–December 2022 half year. The hiring intent across all categories of jobseekers in India – fresh or with experience – has risen to 68 per cent from 61 per cent over the same duration. This steady growth in the job market will create enormous opportunities for freshers, said the TeamLease EdTech Career Outlook Report released recently.         

“We have seen that companies want to go back to basics and hire freshers and train them on jobs as that gives better return on investment to them and it is sustainable in the long term. And hence even though amidst all the news of layoffs that we have been hearing, we still have 67 per cent of the employers who say they want to hire freshers. So the hiring sentiments for freshers are still bullish,” Rooj said.

Role of RPO in improving diversity, equity, and inclusion in the modern workforce

Diversity, Equity, and Inclusion (DEI) are important considerations for businesses of all sizes, including large enterprises. With DEI becoming an important pillar of today’s workforce, Recruitment Process Outsourcing (RPO) plays a crucial role in improving DEI within organisations. It enhances the image of the organisation, provides inclusive job descriptions and advertising strategies, implements blind resume screening, builds diverse candidate pipelines, provides unconscious bias training, and provides DEI metrics and reporting.

Inclusive Job Descriptions and Advertising Strategies: RPO providers help organisations to develop inclusive job descriptions and advertising strategies that attract a diverse pool of candidates. By using inclusive language and highlighting the organisation’s commitment to DEI, RPO providers help to create a more welcoming and inclusive environment for a diverse set of candidates.

Blind Resume Screening: RPO providers can implement blind resume screening, where candidates’ names, gender, and other identifying information are removed from resumes, to reduce bias in the initial screening process. Minus human biases that might influence hiring, RPO providers can help to ensure that all candidates are considered on the basis of their qualifications, abilities, and experience.

Building Diverse Candidate Pipelines: RPO providers can help organisations to build diverse candidate pipelines by actively recruiting from underrepresented groups and communities. This can help to ensure that the organisation is able to consider a wide range of candidates irrespective of gender, race, religion, sexual orientation, age, or socio-economic background and increase the chances of hiring diverse talent, based only on job fitment.

Unconscious Bias Training: RPO providers can provide unconscious bias training to sensitise recruiters and hiring managers and help them identify and overcome their own biases in the recruitment process. This can help to ensure that all candidates are considered fairly and that the organisation is able to attract and retain diverse talent.

DEI Metrics and Reporting: RPO providers provide organisations with metrics and reporting on the diversity of their candidate pools and hires to help them track their progress and identify areas for improvement. This can help organisations to understand where they are succeeding in terms of DEI, and where they need to focus more effort in order to improve their record.

In conclusion, RPO can play an important role in supporting HR and TA leaders in improving DEI within organisations. RPO partners can study an organisation’s present DEI status and gap areas, analyse the results and help to overcome the conflicts. With their access to a considerable database of diverse candidates, RPO providers can help organisations attract, place, and retain diverse talent, thereby creating a more inclusive and equitable workplace. It’s important for organisations to evaluate the RPO providers and choose the one that aligns with their DEI strategy and is committed to promoting DEI throughout the recruitment process.

Emerging trends in Recruitment Process Outsourcing (RPO) that are gaining popularity

Most organisations, barring the huge players in the market, need not invest in sophisticated technologies such as Artificial Intelligence (AI) and Machine Learning (ML) to enhance the recruitment experience. This is because RPO providers are increasingly absorbing the cost by adopting these technologies to automate and streamline recruitment processes. In recent times, RPOs have almost completely assumed the responsibility for resume screening, culture fit screening, IQ & EQ testing, candidate matching, interview scheduling, candidate testing, and onboarding. This can help to improve efficiency and reduce the time it takes to fill open positions.

Video Interviews: More often than not, RPO providers are incorporating video interviews into their recruitment processes. Depending on the client and function, these can either be live interview sessions or pre-recorded ones. With job slots opening up in different, distant geographies, virtual interviews are here to stay. They are gaining popularity because they allow for more flexibility and efficiency, can help to reduce travel time and cost, and do not require the candidate to take too much time off from work for an interview. The time slots are fixed in advance and this works well for the recruiter as well as the candidate. Video interviews can also assess communication skills and comfort levels with new-age technologies. AI can be used to analyse a candidate’s facial expressions and body language to predict personality traits, honesty, and other intangible aspects of the recruitment process.

Mobile Recruiting: RPO providers are increasingly using mobile recruiting techniques to reach candidates, such as mobile-optimised career sites and text message recruiting. This allows for a more convenient, flexible, and efficient recruiting experience for candidates, and can help to attract top talent. Mobile as a recruitment platform works well because it can be managed from anywhere, without being dependent on a brick-and-mortar space. Tasks such as reaching out to a broader pool of resources, scheduling interviews, providing internal feedback, and communicating with the candidates can be managed remotely through handheld devices, even in the remotest of pin codes.

Employee Referral Programs: RPO providers are increasingly using employee referral programs as a way to identify and attract top talent, as referrals tend to be more reliable and have a higher retention rate. Enterprises are beginning to recognise that birds of the same feather tend to flock together, so candidates who have already been whetted by the company are likely to refer like-minded people, with the proper credentials to the organisation. These programs offer a two-pronged motivation – one being that a person who is familiar is joining the same company, and the other being the monetary incentive that the company gives the employee.

Talent communities: RPO providers are increasingly using talent communities to engage with and nurture potential candidates, giving them the opportunity to learn more about the company and stay engaged even if they are not actively seeking a job. These platforms share information about companies, their culture, their thought leadership, industry information, technology breakthroughs, etc. From engaging alumni to prospective candidates, talent communities fan the embers of interest even when there is no active recruitment in process.

Greater focus on diversity, equity, and inclusion: RPO providers are increasingly focusing on diversity, equity, and inclusion in their recruitment processes, recognising that these elements help foster a more inclusive and innovative environment, while also promoting a better candidate experience. It is in acknowledging all the dimensions of nationality, race, ethnicity, gender, socio-economic status, age, disability, sexual preferences, religious and political beliefs, or other ideologies; it is in the exploration of these differences and moving beyond simple tolerance, to embracing and celebrating the rich dimensions of diversity contained within each individual, that organisations stand tall. Employees with different characteristics, skills, and experiences bring to any organisation a whole new set of perspectives that can result in better camaraderie, innovativeness, and all-round wellness.

Recruitment Process Outsourcing (RPO) – The most result-oriented option for enterprises that want to scale rapidly

Speed: RPO providers have the expertise and resources to handle recruitment activities more efficiently than an in-house team. As a result, they help to speed up the recruitment process and get new hires onboarded more quickly. This is critical for the health of an organisation because research reveals that high-quality talent gets snapped up by the market, in approximately 10 days. Quick and nimble access to these resources is a benefit that the right RPO partner can offer enterprises that are looking at scaling up in a hurry.

Scalability: RPO allows growing enterprises to scale recruitment activities up or down as needed, which can be particularly useful during rapid growth or downsizing periods. RPO partners can onboard a full pipeline of talent to scale the recruitment resources when needed. At the same time, they can absorb resources into the system when enterprises need to downsize and also find candidates for alternate employment. This can help ensure that the enterprise has just the right number of employees to meet its business needs.

Better alignment with business goals: The right RPO provider is always aligned with an organisation’s business objectives and development strategies. It is also aware of the position taken by competitors as well as market realities. This gives RPO providers who work with growing enterprises the insight to align recruitment activities with the company’s overall business goals. In turn, this helps to ensure that the right talent is hired for the right roles.

Cost savings: RPOs can help growing enterprises reduce recruitment costs by outsourcing recruitment activities to a third-party provider, thereby allowing businesses to focus on their core objectives and competencies. They can avoid incurring unnecessary recruitment expenses, losing time, or bearing extra infrastructure costs related to having large in-house recruitment teams.

Improved candidate experience: Despite the present influx of talent in the market, good candidates are not easy to come by. What is more, there are always takers for great talent. RPO providers have access to the best talent. In addition, they offer a more personalised and efficient candidate experience, which can help attract and retain top talent, which is crucial for a growing enterprise that wants to scale rapidly.

Access to specialised talent: RPO providers often have access to a wider pool of verified candidates and specialised recruitment methods. They stay in touch with the top talent layer either virtually or through personalised communication. This can help a growing enterprise find the right talent quickly, particularly in specialised or hard-to-fill roles.

Assure workplace safety for women in your organization

– By Nirupama V.G.

International Women’s Day is celebrated by nearly all government bodies, and large public and private enterprises every year. But irrespective of all the humdrum around equality of sexes, women are subjected to unfair treatment even today.

There have been reports about women experiencing sexual harassment or even physical violence in their offices. Unfortunately, these instances are not confined to any particular country or region, but rather, are a global phenomenon.

Examine the seriousness of this issue and explore how an organization can protect its female staff members from such unwanted instances. Read the full article here.

How to beat the post-merger blues

Did you know that a majority of merger and acquisition (M&A) deals fail? According to the data published by Kearney, nearly 60 percent of M&A transactions fail to deliver the desired value to shareholders.

Fear of downsizing, cultural incompatibility, relocations, or new regulations—M&As bring a host of challenges to employees of the two merging entities. So how does an organization keep employee resistance at bay and ensure that the merger process is smooth and successful? Find out in this Thought Leadership Article by Nirupama VG.

Read the full article here.