In recent years, interest in AI has been increasing within the payroll, pensions and reward industries, as awareness grows around the potential benefits and opportunities it could bring. However, this year’s survey found a notable lack of understanding around the different types of technology available.
Among those who do use AI, only 3% said AI or RPA had replaced payroll roles within their organisation. The vast majority ( 84% ) said it hadn’t, and 13% said although it hadn’t, payroll professionals had taken on amended duties since they had been in use. Technological advancements We often hear people are worried about advancements in AI due to the impact it could have on their roles and this year’s report indicated that more than a third ( 34% ) of respondents shared this concern. However, two in five ( 40% ) didn’t, and around a quarter ( 26% ) were indifferent.
Respondents were unable to distinguish between technologies, with nearly one in two struggling to differentiate between robotic process automation (RPA) and AI. When asked if they were aware of the differences between the two, 52% said yes, 48% said no. While RPA simply follows a set of commands you provide and can be useful in executing repetitive and often laborious payroll tasks, AI can ‘think’ for itself, replicating human intelligence and enabling it to carry out more complex processes. Organisations can reap the benefits of both according to their individual goals and needs, freeing up time and resources within payroll departments for more complex duties. There has no doubt been a considerable shift in attitudes and behaviours in the past few years when it comes to AI. The Future of Payroll Report 2020 revealed that 86% of respondents expected automated business processing or AI to further develop in managing the transactional side of payroll, compared to just 14% who didn’t anticipate this would happen. However, the results of both subsequent surveys, in 2022 and this year, show development in this area is still slow moving. Fewer than one in five ( 17% ) said they currently used some form of RPA within their organisation in relation to payroll processes, while fewer than three in five ( 57% ) didn’t. More than one in four ( 26% ) were unsure, suggesting a lack of awareness of RPA.
WE OFTEN HEAR PEOPLE ARE WORRIED ABOUT ADVANCEMENTS IN AI DUE TO THE IMPACT THEY COULD HAVE ON THEIR ROLES. DO YOU SHARE THIS CONCERN?
34% Yes
40% No
Just 6% said they use some form of AI within their organisation in relation to payroll processes, 84% don’t and 10% are unsure.
26% Indifferent
Additionally, the Future of Payroll Report 2022 found 12% were using chatbots and 24% were planning to in the future, compared to just 2% who were using them in 2020.
In most cases percentages have been rounded to two decimal places for clarity and may not add up to 100%. Graphics may have been rounded to whole percentages.
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FUTURE OF PAYROLL REPORT 2024
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