What is the present valuation and projected CAGR of the generative artificial intelligence (ai) in human resources (hr) market?
The generative artificial intelligence (AI) in human resources (hr) market size has grown rapidly in recent years. It will grow from $0.63 $ billion in 2024 to $0.75 $ billion in 2025 at a compound annual growth rate (CAGR) of 18.3%. The growth in the historic period can be attributed to the rise of data-driven decision-making, demand for personalized employee experiences, evolution of recruitment processes, emergence of advanced analytics tools, the growing importance of diversity and inclusion initiatives, and shift towards remote and hybrid work environments.
The generative artificial intelligence (AI) in human resources (hr) market size is expected to see rapid growth in the next few years. It will grow to $1.45 $ billion in 2029 at a compound annual growth rate (CAGR) of 17.9%. The growth in the forecast period can be attributed to the growth of AI technology adoption, increasing complexity of workforce management, demand for enhanced employee engagement strategies, necessity for real-time performance feedback mechanisms, focus on continuous learning and development, expansion of AI capabilities in predictive analytics, integration of AI with existing HR systems to streamline operations. Major trends in the forecast period include increasing adoption of AI-powered chatbots and virtual assistants, growing use of machine learning algorithms for talent management and workforce planning, rising demand for personalized employee experiences through AI-generated content, expanding application of AI in recruiting and hiring processes, integration of AI with existing HR systems for enhanced efficiency, increasing focus on AI-driven performance management and employee development, anticipated growth of the cloud-based deployment of generative AI solutions in HR.
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What key drivers have fueled the generative artificial intelligence (ai) in human resources (hr) market’s development over the years?
The increasing demand for automation is expected to propel the growth of generative artificial intelligence (AI) in the human resources (HR) market going forward. Automation is the technology-driven process of executing tasks with little to no human involvement, enhancing efficiency and productivity by substituting manual efforts with automated systems. The growing need for automation is driven by the quest for greater efficiency, cost savings, and accuracy. Generative AI in HR aids the surge in automation demand by automating repetitive HR tasks such as candidate screening, job description creation, and performance evaluations. This technology enhances HR efficiency, reduces manual workloads, and allows HR professionals to focus on more strategic initiatives. For instance, in January 2022, according to a study conducted by the Department for Digital, Culture, Media & Sport (DCMS), a UK-based government department, and Capital Economics, a UK-based information services company, there is a projected substantial rise in AI technology adoption from 15.1% in 2020 to 22.7% in 2025, with an added 267,000 businesses integrating AI into their processes. Moreover, By 2040, it’s anticipated that around 34.8% of businesses will have embraced AI, totaling approximately 1.3 million companies utilizing this technology. Therefore, the increasing demand for automation drives the growth of generative artificial intelligence (AI) in the human resources (HR) market.
What is the segmentation for the generative artificial intelligence (ai) in human resources (hr) market?
The generative artificial intelligence (AI) in human resources (hr) market covered in this report is segmented –
1) By Technology: Machine Learning, Natural Language Processing, Deep Learning, Computer Vision, Robotic Process Automation
2) By Deployment Mode: Cloud-Based, On-Premise
3) By Application: Recruiting And Hiring, Onboarding, Performance Management, Improved Efficiency, Other Applications
Subsegments:
1) By Machine Learning: Predictive Analytics For Employee Retention, Talent Acquisition And Recruitment Optimization, Performance Evaluation Models, Employee Engagement Analysis, Skills Gap Analysis
2) By Natural Language Processing (NLP): Automated Resume Screening And Parsing, Chatbots For Candidate Interaction, Sentiment Analysis Of Employee Feedback, Personalized Communication And Engagement Tools, Job Description Optimization
3) By Deep Learning: Candidate Skill Matching And Assessment, Video Interview Analysis, Employee Training Personalization, Advanced Predictive Models For Workforce Planning, Learning Experience Platforms (LEPs)
4) By Computer Vision: Facial Recognition For Attendance Tracking, Analysis Of Employee Behavior And Engagement, Virtual Reality (VR) For Training Simulations, Safety Monitoring In Workplace Environments, Automated Visual Inspections For Facilities Management
5) By Robotic Process Automation (RPA): Automating Repetitive HR Tasks (e.g., Onboarding), Data Entry And Record Management Automation, Payroll Processing And Compliance Automation, Employee Self-Service Portals, HR Reporting And Analytics Automation.
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Who are the most influential companies in the generative artificial intelligence (ai) in human resources (hr) market?
Major companies operating in the generative artificial intelligence (AI) in human resources (HR) market are International Business Machines Corp., Oracle Corporation, SAP SE, Automatic Data Processing Inc, Workday Inc., Cegid Group S.A., Cornerstone OnDemand Inc, Phenom People Inc, Jobvite Inc, Harver B.V., Eightfold AI Inc., Beamery Inc., Paradox Inc., Workable Technology Limited, ClearCompany Inc., Aisera Inc., Gloat Inc, JobAdder Operations Pty Ltd, SeekOut, TEXTIO INC., TalentGuard Inc., Cezanne HR Limited, Pymetrics Inc
What are the top industry trends projected to impact the generative artificial intelligence (ai) in human resources (hr) market?
Major companies operating in the generative artificial intelligence (AI) in human resources (HR) market are developing advanced technologies, such as proprietary artificial intelligence (AI) technology, to enhance recruitment processes, streamline candidate sourcing, improve employee engagement, automate routine HR tasks, and provide data-driven insights for better decision-making and workforce management. Proprietary artificial intelligence (AI) technology refers to artificial intelligence systems and algorithms that are developed and owned exclusively by a company or individual. This technology is unique to its owner and is protected by intellectual property rights such as patents, copyrights, or trade secrets. For instance, in March 2023, Beamery, a UK-based talent engagement and recruitment software company, launched TalentGPT. It is the world’s first generative AI for HR technology. TalentGPT is designed to deeply personalize HR processes by leveraging both Beamery’s proprietary AI and advanced large language models like OpenAI’s GPT-4, enabling real-time adaptation of content, job descriptions, email templates, and career recommendations to meet the specific needs and evolving requirements of organizations and employees. TalentGPT is aimed at transforming HR practices by offering highly personalized and adaptive solutions.
What are the major regional insights for the generative artificial intelligence (ai) in human resources (hr) market, and which region holds the top position?
North America was the largest region in the generative artificial intelligence (AI) in human resources (HR) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the generative artificial intelligence (AI) in human resources (HR) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Generative Artificial Intelligence (AI) In Human Resources (HR) Market Report 2025 Offer?
The generative artificial intelligence (ai) in human resources (hr) market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Generative artificial intelligence (AI) in human resources (HR) refers to the use of artificial intelligence models that can generate new content, such as text, images, or audio, to assist with various human resources (HR) tasks and processes. These artificial intelligence (AI) models are trained on large datasets and can create novel outputs that resemble the training data.
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