Enabling the Future of Work with AI and ML
A great example of how our unique approach comes to life is Workday Skills Cloud, our ML capability for enabling the future of work. As we reach the limits of traditional career trajectories, credentials, degrees, and formal resumes, the future economy must be much more dynamic, flexible, and capable of allowing people with nontraditional backgrounds to participate effectively. Skills Cloud uses AI and ML to analyze the way skills are used in human language, understanding their relationship to each other, and mapping that to a skills-centric workforce at scale.
Workday Skills Cloud, and the ML engines that power it, are essential to enabling our customers to live in this new world. So much so that over half of our core Workday Human Capital Management (HCM) customers are using it. Workday’s Skills Cloud has processed over five billion uses of skills since its launch five years ago. There’s simply no way for companies to adopt skills at scale without ML.
Applying AI and ML is equally essential to the future of finance. With AI and ML, finance teams can get help managing risk and eliminating inefficiencies by reducing what used to take months or weeks down to just hours or minutes.
For example, finance teams spend an inordinate amount of time gathering information and reconciling transactions throughout the month and at quarter close. Workday AI and ML help them quickly identify financial patterns, trends, and anomalies—enabling teams to complete the financial close process more quickly and efficiently.