AI provides HR managers with challenges, opportunities

THE legal compliance team at JPMorgan Chase & Co waits anxiously to see if their new gadget will achieve what they think it can. A machine is reviewing a year's worth of legal contracts that traditionally would require the team to put in some 360,000 professional hours.

In little over two seconds, the information is delivered. It wasn't a year, a month, a week or even a whole day. In just 2.85 seconds, an algorithm replicated the efforts of hundreds of contract lawyers and clerks.

The algorithms were given the contracts prior to correction and then the same contracts after they were reviewed and amended.

After reviewing thousands of pages, the algorithm learnt what was different and what changes were needed. The algorithm kept developing until it was able to produce the same results…