Exciting Workday AI Announcement at Workday Rising 2023
At this year's Workday Rising conference, Workday announced the launch of Workday AI. This tool will help more than 10,000 organizations worldwide. Workday is an Enterprise Cloud applications leader for human resources and finance. Each year, they host a conference, bringing together organizations across many industries.
At Workday Rising's kick-off, Workday co-CEO Carl Eschenbach said, “Organizations around the world… trust Workday to provide powerful, responsible, transparent solutions that will propel businesses forward.”
“Today, we're reinforcing that trust by sharing cutting-edge solutions that will completely transform the way our customers do business.
With the power of AI and ML and an ecosystem of industry-leading partners, we are writing the playbook for the way the future works,” he continued.
In this article, we will share the key takeaways from day one at Workday Rising 2023, discuss how will Workday AI will shape the future, explain how you can make Workday work smarter for you with ethical, generative AI and ML capabilities, and talk about Workday's newest innovations in AI streamline operations, drive growth and productivity, and help you better manage your people and money.
Generative AI Could Shape the Future of Your Organization
Workday AI has the power to drive efficiency in your organization. It can also elevate employee and leadership experiences. Some of the most exciting new Artificial intelligence (AI) solutions announced during the opening keynote, include:
- The Workday AI Marketplace — Find and deploy trustworthy AI and ML apps directly into the Workday ecosystem.
- Generative AI capabilities — Streamline and optimize efficiency across the organization.
- Workday AI Gateway — Developers can use Workday AI to build intelligent apps.
- Manager Insights Hub — Enhance leadership experiences with AI through Workday HCM.
These are just the tip of the iceberg.
Generative AI is on fire right now, with companies typically moving in one of two directions.
- Building AI into the core and foundation of the company.
- Bolting AI onto an existing company to supercharge current offerings.
While both can be successful, Eschenbach believes in built-in AI and ML with a people-first approach to growth and efficiency. This requires a reflection of the need for empathy and passion in the workplace.
ERPA is a company built on those core values, something brought to our Workday practice and clients.
Keep reading to learn more about these new Workday AI solutions and how they can benefit your organization.
AI Makes HR and Workday Financial Management More Intelligent
The goal of Workday AI is to improve human capabilities. With consistently meaningful and accurate data, organizations can:
- Better drive efficiency;
- Find and keep top talent;
- Speed up decision-making that aligns with business objectives;
- And more.
Not only does Workday AI support Financial Management teams, but it also provides an enhanced experience for HR managers.
“Managers play such a pivotal role in the growth and development of their teams,” says David Somers, Group General Manager of Workday.
“Workday is the single source of truth for people data, enabling us to surface relevant team information to managers when they need it most,” he continued.
“Workday AI is making it easier for managers to succeed in their most important role: people leadership.”
Continue reading to learn about the five main benefits of Workday AI and how it can help power your business.
1. Accurate and Powerful Data Drives Decision-Making
Workday AI is built into the core of the Workday platform, making it part of a team's natural workflow. Its unrivaled financial and HR datasets enable an organization to make decisions faster.
By simplifying the process of uncovering relevant insights within data, companies can make faster and more strategic business decisions and deliver better results to customers.
2. Generative AI is the Future
Generative AI capabilities help organizations create quality content. For example, employee growth plans, statements of work, job descriptions, knowledge base articles, and so much more.
Capabilities within Workday Adaptive Planning offer a more streamlined and collaborative experience across the organization. For example, generating reports faster and delivering greater transparency to stakeholders.
3. Recruit and Retain Top Talent Faster
Workday Human Capital Management (HCM) and Workday Adaptive Planning will use Workday AI to empower a more streamlined, bottom-up approach to workforce planning.
“A new automated headcount reconciliation process enables users to quickly compare real-time cost variances between the headcount plan and actual new hire activity down to the position level,” Workday shares.
4. Automate Once-Manual Processes and Reduce Errors
Workday AI simplifies processes and decreases maintenance, which can lead to a lower cost of ownership and fewer errors. By eliminating repetitive, once-manual tasks, organizations can focus on strategic growth initiatives.
5. Empower Managers to Improve Employee Performance
Manager Insights Hub provides automated insights and time-sensitive actions to help managers and team leaders proactively support employees based on their skills.
Flex Teams can help team leaders build successful teams. By leveraging Workday AI, they can identify certain skill sets within employees.
Workday AI streamlines many processes. For example, approving time off, building dashboards, and generating accurate reports.
Workday AI Featured Heavily on Day One of Workday Rising
Organizations can streamline business processes, better manage people and money, and drive productivity and efficiency through the newly announced Workday AI.
Generative AI and Machine Learning were featured heavily during day one of Workday Rising 2023, and for good reason.
Organizations that adopt AI and ML and build it into the foundation of their companies will excel because AI is the future.
HR professionals and finance teams can use Workday AI to:
- Drive faster and better decision-making
- Create a more collaborative and streamlined experience across the organization.
- Recruit and keep top talent thanks to a human-centered, skills-based approach and a massive AI-powered dataset.
- Reduce risk and eliminate errors.
Sometimes, it can be challenging to understand and optimize for all Workday offers. It's more important than ever to drive growth and efficiency within your organization.
If you're at Workday Rising and want to learn more about how Workday AI will transform your organization, stop by booth #516 or contact ERPA today!
We can walk you through every step of the process and ensure you're maximizing Workday AI's features for your business goals and future.
