At Workday, trust, transparency and innovation are part of our DNA, and these principles underpin the ground-breaking AI and ML initiatives we launched recently at Workday Rising.
These initiatives realise the potential of AI and ML to elevate the finance and human resources functions at businesses across Australia and New Zealand (ANZ). According to the recent C-Suite AI Global Indicator Report, Australian businesses are already committing to AI at a rate that puts them second in APJ (after Singapore) and among the top five markets in the world, positioning local businesses well to leverage the technologies to improve decision-making and achieve strategic gains.
At Workday, our platform strategy across both HR and finance, our rich dataset and commitment to responsible, trustworthy solutions make us an ideal partner for businesses that want to turn to AI for a competitive edge.
At Workday Rising, Workday announced many new AI capabilities, including the infusion of generative AI into existing products and developer and ecosystem initiatives. Our initiatives included a range of generative AI capabilities that help businesses streamline content creation, including job descriptions and employee growth plans.
These new capabilities will allow businesses in ANZ to generate job descriptions in minutes versus hours, analyse and correct contracts to ensure faster, more accurate revenue recognition, and easily create personalised knowledge management articles.
Finance teams will also be able to streamline collections by automating and refining the tone of past-due notices and automating letters in bulk.
In addition, through generative AI infused into the Developer Copilot capability in Workday Extend, customers can accelerate the development of finance and people management applications that live in Workday.
Meanwhile, through AI models that leverage Workday’s rich people databases, customers can address the talent retention challenge by delivering more relevant employee career plans.
Workday’s new generative AI capabilities will also help customers create Statements of Work more efficiently to expedite laborious, time-consuming procurement processes.
We are also exploring the intersection of conversational UI and generative AI to enable our customers to interact naturally with information and tasks using search, summarisation, context and more.
Finally, we’ve also announced a new Workday AI Marketplace that enables customers to access generative AI and other innovative technologies through third-party partners. The marketplace features AI and ML apps that integrate with Workday data via APIs and apps built through Workday Extend using Workday-trained large language models.
As our co-founder, co-CEO and chair, Aneel Bhusri, said, “The Workday AI Marketplace will enable our customers to harness the incredible amount of AI innovation happening today while at the same time give them the peace of mind in knowing that each solution is proven, trusted, and meets Workday’s stringent standards for responsible AI. Combining the power of the Workday platform with some of the world’s most innovative AI native companies will give our customers a running start in building for the future.”
Opening up opportunities
We have also deployed generative AI to help organisations navigate more complex, fast-moving business environments. With generative AI in Workday Adaptive Planning, customers can find, access and analyse data faster, enabling them to make faster, more strategic decisions. This will help them model more complicated workforce planning scenarios, manage changing needs and extend planning to more users across the organisation.
With talent retention still a key challenge for many modern organisations, AI and ML can now to help minimise employee turnover. A new Manager Insights Hub within Workday HCM uses AI and ML to provide personalised recommendations to help leaders better manage their employees. Managers will be able to proactively identify the best opportunities for employees based on their skills and interests, improving mobility and engagement and consequently helping deliver better business outcomes.
At Workday, we’ve established principles, processes and technologies that enable our customers to exploit the rich opportunities presented by AI and ML.
We have a single, secure, large, high quality, and constantly growing finance and HR dataset, derived from over 65 million users under contract that produce over 600 billion transactions per year. As well as structured transactional data, we also have massive amounts of unstructured data tied deeply into it.
We have over 11 billion files and process logs, policy documents and contract documents, and are set to exceed more than 265 million job applications in 2023.
These mechanisms support long-term, trust-based relationships with customers that give them the confidence to provide us with the data we need to create AI-powered solutions they can leverage for competitive advantage.
Jo-Anne Ruhl, Vice President and Managing Director, Workday Australia and New Zealand.
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