TOP 4 WAYS HOW ARTIFICAL INTELLIGENCE IS CHANGING THE RECRUITMENT INDUSTRY AND RESHAPING ITS FUTURE
Change is the only constant, and the rate at which technology is advancing is the most palpable illustration of that statement. Science fiction movies are not science only anymore, and technological innovations are re-architecting our world.
We came a long way since the 1950’s when the British polymath, Alan Turing, was contemplating whether machines can solve problems and make decisions. What was once just a neural network that enables pattern recognition, today is an advanced humanoid robot that can learn independently and even climb the stairs.
Today, the concept of artificial intelligence (AI) is not a distant future anymore, but a complex simulation of human intelligence used in multiple industries and fields. As it continues to take over all sectors, we can expect that the global AI market will reach the $126 billion mark by 2025. It is not surprising that AI could also generate 133 new jobs by 2022.
The recruitment industry couldn’t escape the engulfing wave of AI and its effects. Seeking ways to enhance and speed up the hiring process, large enterprises found ways to implement AI and apply it to various activities. But global corporations aren’t the only ones enjoying the benefits of the fourth Industrial Revolution and its products. Up to 29 per cent of small businesses have also adopted AI.
The world is rapidly changing, and AI seems to be the ultimate chapter of technological evolution. Hence, those who fail to adapt and embrace machine intelligence may be losing more than just learning how to adhere to the latest trends. And the recruitment industry is not ready to lose or stay behind.
These are the four ways how AI is altering recruiting and directing its future.
ENHANCED QUALITY OF HIRE
The principal goal of every recruitment process is to identify the most compatible talent that will stay in a company for a long time. But no matter how much effort and attention to detail recruiters put into attracting and detecting the best match, it is still challenging.
Companies that use AI in their pursuit for top talents can input all the essential requirements, qualifications, and set their desired employee profile. Thanks to the advanced algorithms and tailoring the search to the KPIs, AI can recognize a candidate that fulfils all those requirements.
Many employers use a high-performing applicant tracker or recruiting software that collects and processes data to parse resumes and analyze job applications. By doing so, AI can spot the right skills, education, or even location. The result is a quality hire, compatible with the company culture and job position, which also ensures retention.
REDUCED TIME AND HIRING COSTS
Recruiters without access to AI technology have to analyze and screen job applications manually, contact candidates and manage the whole hiring process. Although the traditional resume evaluation can lead to identifying top talents, it’s time-consuming. Thus, that results in hiring managers not having enough time to focus on other aspects of the candidate journey, such as onboarding.
One of the best features of HR technology based on AI is that it allows recruiters to automate the hiring process and alleviate tedious and repetitive tasks. AI reduces the time needed to find the best candidate, send updates, and it eliminates redundant interviews due to thorough screening.
IMPROVED CANDIDATE ENGAGEMENT
A high-quality recruitment process demands continuous communication with the candidates, timely follow-ups and updates. That is another activity that can be overwhelming for recruiters as it requires dedication and sacrificing other essential tasks.
AI systems and programmes use chatbots based on smart algorithms. These useful helpers allow recruiters to integrate the AI communication system with social media channels and email. The chatbot will ensure that the candidates always receive all the relevant information and keep them in the loop. That feature also boosts candidate engagement, nurtures interaction, and shows that the company cares about every step of recruitment.
INCREASED DIVERSITY, INCLUSION, AND EQUITY
Despite how much they believe in impartiality, human decisions inherently come with personal judgement, experience, and gut feeling. That affects diversity and inclusion policies and objectives and diminishes a workplace rich in variety and different backgrounds.
But with its ethical, stereotype and prejudice-free screening, AI eliminates bias and misconceptions. Machine intelligence is based on science and advanced algorithms, which removes visceral decisions, opinions, and inclinations.
THE FUTURE OF AI AND HR TECHNOLOGY
Recruiting systems, applicant software, and other AI-related programmes are only the beginning. There is so much more ahead of the recruitment industry, and we are witnessing its evolution. There is another similar and innovative technology arising, and we might see the future in which these two will merge and revolutionize HR.
VR/AR
Virtual and augmented reality (VR/AR) create interactive simulations of environments and real-life situations, allowing our worlds to expand and reach the digital realm. These technologies are starting to emerge in the world of HR and recruiting, enhancing candidate and employee experience.
Immersive technologies allow employers to provide their employees with engaging and unique training and onboarding. Companies that use VR/AR let their hires dive into simulations that gives them first-hand experience and insights into their new job position and workplace.
There are a myriad of opportunities within the virtual and augmented reality as a form of integrating and educating workers. It is a way to improve skills, productivity, prevent harassment and bullying.
There is a chance that the convergence of VR/AR and AI is the last phase of the current technological revolution and the opportunities it holds for the recruitment industry are limitless. Onboarding VR/AR experience based on artificial intelligence means that one day events and characters in the simulation could react to employees, taking that experience on the next level.
Find your dream job at: gamefactory.tech
