Workday has been a strong proponent of the idea that artificial intelligence (AI) and machine learning (ML) will be the driving forces behind the future of work. Despite the recent surge of interest in AI and ML, particularly in generative AI such as OpenAI and ChatGPT, Workday has set the trend, providing their clients with AI and ML capabilities for years.
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Unique Approach to AI and ML
Every software company should state its approach to ensure its efficiency. So does Workday Adaptive Planning. Compared to other enterprise software companies, its unique approach to AI and ML distinguishes it from what’s in the market. They embed AI and ML into the very core of their technology platform, taking a platform-first approach from a capabilities perspective. This is important because it lets them quickly introduce and maintain new ML-infused capabilities into their applications. With millions of users consistently using multiple applications on the same platform, ML improves at a faster rate since it gets better the more it is used.
This distinct advantage differs from the rest in terms of the data it possesses and the meticulous attention it pays to its management. It has access to massive customer data, with over 60 million users generating approximately 442 billion transactions annually. However, simply having extensive data is meaningless without ensuring its quality, which they achieve through their comprehensive single-data model.
This model enables them and their users to maintain clean and consistent data, as they rely on multiple integrations of disparate data repositories. Additionally, using a tenanted model to structure data uniquely allows them to create tailored models for customers in specific regions or industries through federated learning while adhering to privacy and regulatory requirements.
In the field of machine learning, practitioners often refer to the “3 Vs” of data required for positive outcomes: adequate volume, velocity, and variety. Workday Adaptive Planning excels in all three aspects. Leveraging its unique data and technological capabilities, it can implement AI and ML solutions with superior performance and custom-tailored use cases, rapidly delivering distinctive and impactful results for its clients.
Harnessing AI and ML for the Future of Work
One way they demonstrate a unique approach is through their machine learning capability, which paves the way for the future of work. As traditional career paths, credentials, degrees, and formal resumes become less relevant, the future economy needs to be more adaptable, flexible, and inclusive of individuals with non-traditional backgrounds. Skills Cloud utilises AI and machine learning to analyse how skills are utilised in natural language, understand their connections, and apply that knowledge to create a skills-focused workforce on a large scale.
The application of AI and machine learning is equally vital for the future of finance. Through AI and machine learning, finance teams can receive support in managing risk and streamlining operations, reducing processes that previously took months or weeks to mere hours or minutes.
For instance, finance teams invest significant time in collecting information and reconciling transactions monthly and during the quarter close. Workday Adaptive Planning’s AI and machine learning assist them in swiftly identifying financial trends, patterns, and irregularities, enabling the teams to complete the financial closing process more swiftly and effectively.
The seamless integration of AI and mL into their platform provides intelligent automation to users, expediting the processing of high-volume transactions, enhancing accuracy and delivering tangible business value.
The Potential Of Generative AI Is Boundless
The impact of AI and ML on the future of work is limitless, especially with the emergence of Generative AI. Workday Adaptive Planning was an early adopter of large language models (LLMs), the technology behind Generative AI currently utilised in our production processes. They have begun integrating Generative AI to address various customer challenges. Large language models are instrumental in content creation, revolutionising the development of performance reviews, job descriptions, and other documents.
With Reliable AI, Confident Decisions are Made
People at Workday and we are firm believers that in order for AI and ML to effectively realise their potential, they must prioritise trustworthiness and serve to enhance human capabilities rather than replace them.
Trust must be an integral part of AI and ML’s foundation for them to be reliable. As a leading ethical company globally, they are dedicated to the responsible use of AI, ensuring that their customers have a transparent understanding of how ML products are developed and evaluated to help mitigate any associated risks. Their fundamental ethical principles in AI and ML drive our work in this area and steer us in creating technologies that yield positive societal impact and expand opportunities for growth for you and your workforce.
