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Poonawalla Fincorp, a leading non-banking financial services provider, is transforming its human resources (HR) processes by embracing Artificial Intelligence (AI). In collaboration with IIT Bombay, the company is modernizing its HR operations, achieving remarkable efficiency gains, quicker decision-making, and enhanced employee engagement. This partnership is paving the way for wider digital transformation in India’s HR sector. AI-Driven Efficiency in HR Operations By incorporating AI into its HR practices, Poonawalla Fincorp has significantly reduced the time required for key tasks in recruitment. What used to take around ten days to finalize a job offer can now be done in less than one day, boosting operational efficiency by an impressive 90%. AI tools are automating crucial functions such as resume screening, document verification, and candidate evaluations, allowing HR teams to work smarter and faster than ever before. Transforming Recruitment and Candidate Management The integra...

  Poonawalla Fincorp Limited, a renowned non-banking financial services company, has joined hands with IIT Bombay to incorporate Artificial Intelligence (AI) into its Human Resources (HR) operations. This collaboration aims to enhance the efficiency of HR processes through innovative AI-driven solutions, setting the stage for a broader digital transformation within the company. A Vision for Innovation Poonawalla Fincorp is focused on revolutionizing its operations by incorporating AI into key business functions. Arvind Kapil , Managing Director and CEO, explained, “AI is a critical part of our strategy to digitalize business functions. Our collaboration with IIT Bombay is just the start of what we envision as a much broader application of AI to drive growth and innovation across our operations.” The collaboration with IIT Bombay leverages cutting-edge research to solve real-world business challenges, creating AI-powered tools that streamline HR processes and improve overall busine...

  The integration of AI into HR practices is transforming how financial services companies attract and retain talent. By 2025, AI will be pivotal in creating efficient and human-centric workplaces. Ethical Frameworks for AI To ensure AI’s success, businesses must adopt ethical frameworks emphasizing transparency and fairness. This approach minimizes bias and fosters trust in AI-driven processes. Redefining Work Roles AI automates mundane tasks, allowing employees to focus on meaningful, strategic work. For HR teams, this means more time spent on fostering employee well-being and growth. Poonawalla Fincorp’s Trailblazing Initiative Poonawalla Fincorp’s innovative AI integration reduced recruitment timelines by 90%, setting new benchmarks for efficiency. CEO Arvind Kapil shared: "The integration of AI in our HR processes reflects our commitment to innovation and excellence." Bridging Skill Gaps AI tools analyze workforce data to identify skills gaps and recommend targeted dev...

  Poonawalla Fincorp Limited, a prominent name in the non-banking financial services sector, has taken a significant leap in digital transformation by integrating Artificial Intelligence (AI) into its Human Resources (HR) operations. At the heart of this innovation is the use of WhatsApp-powered AI bots designed to enhance employee support and streamline HR processes. This initiative is part of a larger strategy to leverage technology for operational excellence, driven by the leadership of the newly appointed Chief Technology Officer (CTO), Salil Hajarnis. A Vision for AI-Driven Transformation Under the guidance of Salil Hajarnis , Poonawalla Fincorp has embraced an ambitious plan to revolutionize its HR Strategic Business Unit (SBU) with AI integration. Hajarnis brings a wealth of experience in enterprise architecture, software engineering, and AI-driven solutions. His track record of modernizing legacy systems and implementing innovative technologies positions him as a key figure...

  The rapid integration of technology into various sectors has always intrigued finance enthusiasts like me. Recently, a leading non-banking financial company (NBFC) from Pune, Poonawalla Fincorp took a groundbreaking step by integrating Artificial Intelligence (AI) into its Human Resources (HR) Strategic Business Unit. This move not only underscores the role of AI in streamlining business processes but also highlights its potential to reshape financial institutions from within. AI: Redefining HR Functions When I first read about AI’s application in HR, I wondered how it could bring tangible improvements. This company demonstrated it clearly by revolutionizing its recruitment process. Using AI tools for document verification and candidate screening, it has slashed the time to finalize job offers from a staggering 10 days to less than one. A 90% reduction in such a critical metric isn’t just impressive—it’s transformative. Also Read: How NBFCs Are Using AI To Their Advantage Additio...