Is AI Taking Over Payroll?
Is AI Taking Over Payroll?
To save money, increase efficiency and reduce errors, companies are turning to AI to automate more business processes. Payroll is no exception to this. In fact, it is often one of the first processes businesses automate because of its complex nature and the need for confidentiality. As a result, there are now automated alternatives for everything from clocking into calculating garnishments to paying employees.
How Is AI Involved in Human Resources?
Many professionals view artificial intelligence as the future of human resources, and not without good reason. Here are just some of the many tasks that automation assists with:
- Creating deadlines and syncing calendars
- Tallying up hours worked for each employee
- Calculating taxes and deductions
- Distributing payments
Are Humans Being Replaced?
This seems to be a common fear in business these days, but AI can never fully replace the human element of human resources or payroll. Every so often, even the best systems and most organized offices create errors and employees may have questions. Adjustments may need to be made, and sometimes workers may need to override the system in order to enter the changes. Because of this, no matter how great the software is and how effective, human professionals still serve important functions.
When the remuneration process is further extended to taxes, artificial intelligence becomes less and less able to tackle these tasks. Tax analysts do more than file taxes. Otherwise, they would only have real workloads at the end of every quarter and year. Tax analysts must also communicate with tax agencies to negotiate lower fines, liens, interest, and penalties that result from tax errors. Artificial intelligence is not yet capable of such tasks.
Are you interested in more technological developments in payroll? Check out our blog!
