How AI is Impacting the Recruitment Industry
Artificial intelligence (AI) technology becoming more prominent in the world today, and it even has a big impact on the talent acquisition industry. It’s important to note that this introduction of new technology has a great impact on the future of company procedures and culture, in particular, the hiring process and candidate experience.
Recruiters, including human resources (HR), need to have a good understanding of what AI is in order to fully understand what it has to offer, allowing them to leverage all of its capabilities to improve efficiencies and processes. It truly begs the question: how is AI impacting the recruitment industry, and how can recruiters and HR implement it to improve the candidate experience?
REDEFINING “HUMAN” IN HUMAN RESOURCES
The implementation of AI gives the HR department an entirely new meaning. In the past, the time and effort that went into completing repetitive tasks during the onboarding process was lengthy and costly. The time that’s put into attracting, sourcing and acquiring talent would cost the company time and money, all of which are now lessened with the help of AI technology.
Keep in mind that AI can do as much or as little as you want it to. So, you’d might as well leverage its capabilities to help improve efficiencies, workflows and the hiring process. One way HR can do this is by implementing resume screening tools that will ultimately find and present the applicants that best fit the role, eliminating the need to read through countless resumes and allowing recruiters to focus on higher priority objectives. This way, recruiters have the ability to focus more attention and efforts toward candidates that are more likely to become hired.
AI technology can also speed up the time it takes to complete small, mundane tasks — such as scheduling meetings, sorting emails and sending out reminders. This allows recruiters to dedicate more time to improving engagement with employees, helping to promote a good company culture while optimizing workflows.
Recruiters can also leverage AI technology to improve the candidate experience. Chatbots have been used to help keep candidates engaged throughout the recruiting process by answering questions with automated responses to questions, providing value-added information about the company and position, and ensuring that the candidate is fully engaged and not lost.
Additionally, AI can help with reporting by sorting through both quantitative and qualitative data and making it easier to access all of that information anywhere and at any time. Prior to AI, HR would need to spend a lot of time gathering the data and sorting through it all. Therefore, it’s crucial to maintain accurate numbers to ensure accurate automated reporting.
THE PAST, PRESENT AND FUTURE IF AI
The AI market is now continuing to grow, set to revolutionize many aspects of human life. In fact, the AI industry has seen $14 billion in investments just in the past five years alone. Some of the few trailblazers that are at the forefront of the industry include:
IBM’s Watson Talent claims to “expand human expertise” and “improve people’s impact on the business.” In other words, it’s an extension of HR that helps promote efficiency, productivity and quality. Watson Talent provides solutions not only HR and the company but also applicants by providing them with the tools necessary to become candidates and potential hires.
Karen.AI reviews and analyzes hundreds of resumes almost instantaneously to find the most qualified candidates for the position. This program also has a chatbot feature that engages with candidates and provides a pre-screening feature that can help cut costs and save time.
Eva Bot is a virtual assistant that sends out personalized corporate gifts to customers and candidates after an interview or meeting with a high profile candidate. The program can also increase customer satisfaction, gather net promoter scores (NPS) on the candidate experience, and incentivize feedback.
FAMA allows companies to screen social media platforms to discover the online identities of their candidates. While this may seem intrusive, this gives companies the ability to learn more about their candidates on a more personal level.
CONCERNS ABOUT AI
Concerns surrounding AI and its approach, effectiveness and efficiencies are common. The biggest concern that has been raised is the invasion of privacy. Since AI is not a living entity, there are concerns that these programs are unable to discern private and confidential information, don’t have an understanding of laws and regulations, and are likely to violate these rules without knowing. There would be little to no concerns, however, if these were under strict regulation by humans. Glitches, programming errors, and the constant need for software updates are also major areas of concern.
In the same regard, however, AI technology can also be easily reprogrammed or patched in the event that something goes wrong, the software fails, or it needs to complete a new task. For humans, it’s not as easy to re-train or even completely replace an employee, as this can delay any current processes. Because of this, many fear that AI will completely absorb jobs that humans currently do.
If you can understand that AI technology creates efficiency, it may be easier to see the bigger picture. It can become a great asset to any company, if properly used, by saving time, money and resources in the recruiting process. In the end, AI redefines exactly what “human” means in “human resources”.
Not sure where to start? Contact us to learn more about how you can incorporate AI into your recruiting strategy.
This story first appeared on www.ouicruit.com