Dayforce president Steve Holdridge warns against using AI just because it’s the “current big thing"
As the president and chief operating Officer of Dayforce, one of Australia’s biggest human capital management (HCM) systems, Steve Holdridge sees the benefits business can reap from artificial intelligence and where they can go wrong.
Speaking exclusively to HRD, Holdridge emphasised the need to delivere value through AI – and not using it just because it’s the “current big thing.”
“At the end of the day, it’s about business benefit and you need to really assess what that means, Holdridge said.
“Is it about saving time? Is it about creating efficiencies? Is quality improved? If you don’t have this mapped out, there’s going to be a lot of hands waving and questions being asked.”
To make sure AI systems are fit for purpose, Holdridge said their strategy comes down to three simple metrics:
With these three business strategies in place, the business ensures investment is worth it because it aligns with making work easier for customers.
With AI development and integration moving at such a rapid rate, how do you stay ahead of the pack? Holdridge said it’s not easy, but noted it’s all down to data.
“Making sure your data is quality means you’re protecting against hallucinations. You’re not guessing. It’s also about making sure that data is protected. That’s going to be the foundation of looking to the future and seeing if something’s working.”
If you anchor your AI usage within specific business goals, Holdridge outlined, you see quantifiable results that can be measured for success - whatever that means for a specific business.
Research from Ipsos emphasises this, with understanding of AI and how it can be effectively used still lagging. Across 31 countries surveyed, only half (51%) say they know which products and services use AI.
“This suggests that, while AI is becoming more prevalent, there hasn't been a corresponding increase in consumer awareness of the role AI plays in different technologies they use daily,” the findings state.
Holdridge also spoke about what Dayforce call an “AI value curve” – which focuses on not just making something that “looks good in demonstration,” but provides genuine value to businesses.
“You need to focus on a business benefit – whether that’s time saving, risk mitigation, better efficiency. By streamlining your operations, which we’ve done with an AI assistant, you can bring genuine value to a HR leader and it’s not something that’s just nice to have. You’re seeing tangible savings,” Holdridge emphasised.
This was a common theme, Holdridge told HRD, that separates the good use of AI from the poor.
“Every company has an AI strategy – because an individual company’s ability to both invest and create efficiencies across an entire company can be pretty tough,” he acknowledged.
Holdridge concluded that there is still a sense of paranoia around utilising new technology, but the focus should be on having the confidence to experiment to get the best results.
“It all comes back to business case,” he said, “If you want to accelerate something and you have the tools to do that – do it. There’s probably a bunch of people that haven’t thought of that, so give it a try. We help our customers understand that. It’s our responsibility.”
