Modernizing Finance, HR: AI, IoT, and Cloud Solutions for Enhancing Efficiency and Employee Satisfaction

By fixing the flaws in conventional systems, the convergence of Internet of Things (IoT), cloud computing, and Artificial intelligence (AI), technologies are revolutionizing financial HR practices. The manual procedures and static data of legacy HR systems make it difficult for them to match the demands of modern business, which results in inefficiencies and lost opportunities. The study proposes a comprehensive system in response that makes use of AI-driven predictive analytics, scalable cloud infrastructure, and real-time data collection via IoT devices. The technique improves employee happiness, forecasts trends, and allocates resources optimally to enable proactive personnel management. Based on the pilot results, HR operational efficiency has significantly improved. Processing times have decreased (HR requests processed in 3 days compared to 6 hours), accuracy has increased (payroll data accuracy increased from 95% to 98%), and staffing efficiency has increased from ${8 0 \%}$ to ${9 0 \%}$. The potential of modern technology to reinvent talent management procedures in finance HR is highlighted by the revolutionary approach.

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Publication Details

Published
2024-10-25
DOI
https://doi.org/10.1109/icisaa62385.2024.10829102
Primary Topic
Artificial Intelligence and Decision Support Systems
Type
article
Field-Weighted Citation Impact
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article

Modernizing Finance, HR: AI, IoT, and Cloud Solutions for Enhancing Efficiency and Employee Satisfaction

S. Vijayakanthan, R. S. Lekshmi, S. Uma, S. Avinash et al.
Artificial Intelligence and Decision Support Systems
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Modernizing Finance, HR: AI, IoT, and Cloud Solutions for Enhancing Efficiency and Employee Satisfaction

S. Vijayakanthan, R. S. Lekshmi, S. Uma, S. Avinash, A. Sathish, J. NavenaNesakumari
article en

Abstract

By fixing the flaws in conventional systems, the convergence of Internet of Things (IoT), cloud computing, and Artificial intelligence (AI), technologies are revolutionizing financial HR practices. The manual procedures and static data of legacy HR systems make it difficult for them to match the demands of modern business, which results in inefficiencies and lost opportunities. The study proposes a comprehensive system in response that makes use of AI-driven predictive analytics, scalable cloud infrastructure, and real-time data collection via IoT devices. The technique improves employee happiness, forecasts trends, and allocates resources optimally to enable proactive personnel management. Based on the pilot results, HR operational efficiency has significantly improved. Processing times have decreased (HR requests processed in 3 days compared to 6 hours), accuracy has increased (payroll data accuracy increased from 95% to 98%), and staffing efficiency has increased from ${8 0 \%}$ to ${9 0 \%}$. The potential of modern technology to reinvent talent management procedures in finance HR is highlighted by the revolutionary approach.

SRM Institute of Science and Technology (IN), St. Joseph's Institute of Technology (IN), B.S. Abdur Rahman Crescent Institute of Science & Technology (IN)
Decent work and economic growth
Openalex Percentile: Top 59%
Artificial Intelligence and Decision Support Systems
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