Artificial Intelligence (AI) is transforming the way businesses operate. All functions, including payroll, stand to benefit from the enhanced efficiency this technology brings. That said, there are some concerns.
Payroll is a vital business function. If it doesn’t work smoothly, the company as a whole will suffer. Payroll processes make use of highly sensitive data – and some professionals worry that the information is less safe in the hands of machines, rather than humans.
Africa’s business decision-makers are also asking themselves if the continent is ready for such technology. While digital infrastructure is advancing rapidly, some believe that it’s too soon to rely on machines. There is also some concern regarding job security; payroll teams and their managers are reluctant to adopt a new system that could make their roles redundant.
However, the benefits of AI are too good to ignore. Payroll professionals spend many valuable hours on laborious, administrative tasks. This time could be put to better use; enabling employees to focus on more strategic work that helps drive their business’ growth objectives. AI is an exciting development – and payroll managers in Africa need to give it careful consideration.
How AI impacts payroll processes
AI can transform payroll processes across all sectors and businesses. Its applications, such as raw data filtration and validation, predictive information supply and business information mining, are relevant tools in any modern company using digital tools.
Read the full IT News Africa article here.