AI-Based Competency Model and Design in the Workforce Development System

Competence always gives a business a competitive advantage. Competence-based recruiting, development, and performance evaluation are well-known phenomena that have been studied in the literature but are not very frequent in actual practice. The complexity of the topic and the lack of a universal framework that can be implemented with little to no adjustments may be the reason these are not frequently used, despite their relevance. There have been attempts to build competency frameworks, although they are often small-scale and occupation-specific. There is a need for a general framework that can be simply copied, developed using a disciplined and scientific process and professional skills, is clearly understood, and can be used for as many different projects as needed. Though little academic study has been done on the subject, artificial intelligence (AI) has been suggested as a potent tool in human capital management systems. This chapter proposes a novel AI-based competency framework for the management of human capital. The data related to human capital is collected and preprocessed using normalization. We design the competency model using the discriminant regressive artificial neural network (DR-ANN), which assists in the effective hiring of human capital by accurately identifying their competencies. The proposed system is also statistically analyzed using analysis of variance (ANOVA). We compare the proposed competency model with traditional models to prove the efficacy of the suggested system. This chapter proposes a novel artificial intelligence-based competency framework for the management of human capital. The data related to human capital is collected and preprocessed using normalization. The assessment of human capital's competency, which serves as the foundation for adapting quickly to shifting operational situations, is based on the current dynamic between workers and external factors. The chapter proposes a discriminate regressive artificial neural network (DR-ANN) for the effective competency model for hiring a skilled professional for the human capital management system. DR-ANN approaches have subsequently been used in a broad variety of sectors and have proven successful at handling challenging issues. The strategies have been used in a corporate environment to hire employees, oversee advancement, forecast credit grades, and track a company's stock performances. Analysis of variance is a statistical method used to determine if the results of