Artificial Intelligence (AI) is talk of the tech-town. Some hotshot CEOs are busy sparring over the positive and negative impacts of AI, and others are simply in awe of the immense impact that AI can have on the humankind and the life’s existence as we know it right now. While everyone debates over the good or adverse effects AI will have in future, one cannot deny its usefulness in the current times. Recruitment is one industry which can take solace in the fact that AI has to offer nothing but benefits only for improving various aspects of it.
Any technology which claims to be disruptive ought to impact a plethora of industries and not just those which are traditionally tech reliant or have a close relationship with it. This holds true for Big Data, Cloud and now, Artificial Intelligence. AI is being adopted widely as executives across the spectrum are planning to actively implement it in their organizations. A global survey of 203 executives reveals 75% of them will deploy AI actively in the next three years while 3% say this is already happening. In such circumstances, it is only natural for the recruitment industry to lap up AI with both hands and experience its benefits first hand.
Benefits of Artificial Intelligence in Recruitment
- Artificial intelligence based recruitment drives efficiency
- Recruitment through artificial intelligence increases candidate pool
- AI in recruitment improves gender diversity at workplace
- Using AI tools for recruitment helps improve candidate experience
Artificial intelligence based recruitment drives efficiency
Application of AI implies using machine learning’s pattern recognition methodology. By tracking all the input and output data after some time of repeated use, AI algorithms are capable of finding the most efficient methods of accomplishing tasks and that’s what it makes a much needed tool for recruitment. The data driven approach of artificial intelligence addresses recruitment weaknesses such as manual error due to fatigue or biased judgment, thereby, driving efficiency.
As per Deloitte’s 2017 Global Human Capital Trends survey findings, 81% of respondents put talent acquisition as the second most important challenge. Using technological advances like AI, one can incorporate smart algorithms that transform the process and allow recruiters to hire better talent without wasting much time and resources. Some recruitment management software come embedded with AI algorithms to automate HR processes like matching CVs, searching candidate information across the web, processing it and creating a complete profile. The HR can later analyze the profile and combine it with the CV to come up with candidates that are best suited for the open vacancy.
(Also Read: Hiring Trends In 2018 That You Can’t Ignore)
Recruitment through artificial intelligence increases candidate pool
There is no doubt that a machine-assisted search will reach to a greater pool of candidates than a human recruiter’s manual search. But AI takes this reach a step further. Artificial intelligence algorithm analyses the social media profiles and posts of candidates to help come up with a greater pool which might be suitable for the role. This doesn’t increase the work of the recruiter, as AI only selects those which are the nearest fit. In fact, it gives the HR a bigger set of options from which he can choose the best.
AI in recruitment improves gender diversity at workplace
Gender bias is one of the worst kept secrets of the corporate world. Technology, in addition to its primary role of ameliorating efficiency and boosting productivity is also working towards rooting out this major handicap. As per the author of The Future Workplace Experience: 10 Rules for Managing Disruption in Recruiting and Engaging Employees, the major cause of lack of diversity is the unconscious bias that recruiter practice unknowingly. AI as a third party tool can be of great importance in identifying such practices by recognizing patterns of bias. By identifying patterns of communication on sensitive data points such as gender and age, AI/machine learning can help close the blind spots. The market already has such tools. Glassbreakers, has a software that helps companies identify their diversity gaps. Textio is another company which has an AI-driven word processing tool that uses machine learning to help businesses analyze job posting for bias.
Using AI tools for recruitment helps improve candidate experience
The time from applying to a job to getting a call for an interview and then getting the feedback of the interview is of great anxiety and stress for the jobseeker. Those who get selected finally might forget the agony of the long wait in their euphoria, but those who are not able to make it in the end and still have to go through the excruciating pain of waiting will take a highly negative perception of the company and the business in their minds, which will travel to others through word of mouth. It is important for businesses to create a positive brand image in the mind of jobseekers in order to attract the best talent.
AI can help reduce the processing time and improve candidate experience by keeping them connected and engaged during this waiting period. This is where chatbots come into play. Mya is one very popular example. It is chatbot software that helps streamlines the entire recruiting process and claims to reduce the hiring time “by 75% by automating screening, sourcing and scheduling.” For a jobseeker, this is a bigger relief as his application can be reviewed within minutes for eligibility and he won’t have to wait for two weeks to hear from the recruiter for feedback. There are other AI-powered chatbots like JobBot, Yodas and Jobo that are either focused on improving candidate experience or optimizing recruitment processes.
Challenges of Artificial Intelligence in Recruitment
While the hunt is on to use AI powered tools in various ways to revolutionize recruitment as we know it currently, there are still some unsolved challenges that need to be addressed before handing out the judgment. Since these tools are also being created by humans, one has to be sure that they are free from any sort of inherent bias in their code or are not susceptible to human bias. In addition, as recruiters decide to rely more and more on AI, there will be some displacement in jobs, as in where jobs will be lost out to bots and other AI tools. However, AI won’t be able to replace human’s sensitivity, emotions and judgment of a character anytime soon, and therefore, recruiters have little to worry about. They will always remain an indispensable part of the hiring process.