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Artificial Intelligence in HR Market 2023 Technology Scouting, Future Scope, Growth Rate And Forecast To 2032 | Major Players Are IBM Corporation, Oracle Corporation, SAP SE, Automatic Data Processing Inc., Workday Inc
Artificial Intelligence in HR Market
The Business Research Company's Artificial Intelligence in HR Global Market Report 2023 identifies rising demand for automation in HR operations as the major driver for the Artificial Intelligence in HR Market's growth in the forecast period. Automation in HR operations refers to using technology, specifically software and systems, to streamline and automate various administrative and repetitive tasks within the human resources function. AI can be a powerful tool in automating HR operations by leveraging AI capabilities, HR processes can be enhanced and automated in the aspects of candidate screening and recruitment, data entry, workflow, and data processing.
The global artificial intelligence in HR market is expected to grow from $4.50 billion in 2022 to $5.28 billion in 2023 at a compound annual growth rate (CAGR) of 17.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The artificial intelligence in HR market is expected to reach $9.80 billion in 2027 at a CAGR of 16.7%.
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Major competitors in the artificial intelligence in HR market are IBM Corporation, Oracle Corporation, SAP SE, Automatic Data Processing Inc., Workday Inc., Infor, Ceridian HCM Inc., Cegid Group, Cornerstone OnDemand Inc., JobTeaser, Phenom People Inc., Eightfold AI, Simpplr, Beamery Inc., HireVue Inc., Jobvite Inc., EdCast Inc., Harver B.V., SmartRecruiters, Gloat, Aisera, PageUp People Pty, JobAdder Operations Pty Ltd., Entelo Inc., Textio, Cezanne HR Limited, Brazen Technologies Inc., and Pymetrics Inc.
A key trend in the Artificial Intelligence in HR Market includes Technological innovations. Major companies operating in artificial intelligence in the HR market are adopting new technologies to sustain their position in the market. For instance, in March 2023, Beamery Technologies Limited, a UK-based talent engagement and recruitment software company, launched the world's first generative AI for HR technology, which can be used to develop job descriptions and make career recommendations to employees. This new technology allows the company to simplify and drastically reinvent all Beamery customer experiences. Beamery's talent graph, which tracks over 17 billion data points about people, talents, and jobs, and bias-audited AI models and generative AI, serves as the platform's foundation.
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The Artificial Intelligence in HR Market is segmented -
By Offering: Hardware, Software, Services
By Technology: Virtual Assistants, Metaverse, AI Chatbot, People Analytics, Machine Learning, Computer Vision, Natural Language Processing, Other Technologies
By Enterprise Size: Small And Medium Enterprises, Large Enterprises
By Application: Workforce Management, Talent Management, Payroll Management, Performance Management, Recruitment, Hiring, Other Applications
By Industry: Academic, Banking, Financial Services and Insurance (BFSI), Government, Healthcare, Information Technology(IT) And Telecom, Manufacturing, Retail, Other Industries
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Artificial Intelligence in HR Market.
The Business Research Company's "Global Artificial Intelligence in HR Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Artificial Intelligence in HR Market Include:
1. Executive Summary
2. Artificial Intelligence in HR Market Characteristics
3. Artificial Intelligence in HR Market Trends And Strategies
4. Artificial Intelligence in HR Market - Macro Economic Scenario
5. Global Artificial Intelligence in HR Market Drivers and Restraints
……
32. Global Artificial Intelligence in HR Market Competitive Benchmarking
33. Global Artificial Intelligence in HR Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Artificial Intelligence in HR Market
35. Artificial Intelligence in HR Market Future Outlook and Potential Analysis
36. Appendix
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