Machine learning will play a major role in the future innovations of Workday. That is what co-founder and CEO Aneel Bhusri said during the Workday Rising conference. Some of this can already be seen in a series of new apps that the company announced there.
According to Bhusri, machine learning is the “fundamental and disruptive technology of the next five years”, writes ZDNet. However, there are already many applications for machine learning, including new Workday apps.
The first announcement revolves around a blockchain-based system for verifying employee credentials.
With Workday Credentials, employee credentials are placed in blockchain. Employers can give the credentials to employees via this blockchain, and manage and verify them directly. These credentials can belong to all kinds of employees and other individuals, including partners and students.
Workday is also working on an entirely new app for its financial clients. This is Accounting Center, which is built on Prism Analytics. Prism Analytics enables companies to apply well-known business intelligence techniques. Users can use Prism Analytics to prepare and analyze all types of data from various sources.
Accounting Center uses this feature to help users manage operational data from multiple sources in the enterprise through a single control point.
Workday Accounting Center further leverages machine learning to automate processes that require a lot of work. The system can learn the relationships between costs, projects and currencies, for example, by making connections between different financial entities.
Employees sometimes spend a lot of time finding the right information and programs to perform tasks.
The new People Experience aims to make this easier by using machine learning, natural language processing, and enriched media and enterprise search to manage an employee’s most frequently used information, programs and tasks.
There is also a new People Analytics app, which uses augmented analytics technology to discover the most critical trends in an organization. With People Analytics, business leaders cannot only see what those trends are, they also need to understand what the probable cause is.
New to HCM
Finally, Human Capital Management (HCM) has been given a number of new functions. These include Skills Insights, which enables HR managers to find out what skills they already have on board and what gaps remain within the organization.
Talent Marketplace falls in line with this, by providing employees with more insight into internal mobility and job opportunities within the organization.