How Artificial Intelligence and Machine Learning is Impacting the Recruitment Industry
Artificial Intelligence (AI) is the science of developing machines that are intelligent and that can perform intellectual functions like humans. Organizations around the world are incorporating AI as it is helping them to:
- Reduce turnaround time of different business processes
- Increase accuracy
- Remove bias, if any
AI has allowed innovation of Machine Learning (ML) that provides smart devices. These devices have the capability to learn from the environment around them.
AI and ML together are redefining many domains, including Recruitment. Let’s understand how it is impacting the Recruitment industry.
During the Initial Stage
AI is helping organizations to break free from the age-old tedious task of sorting resumes to find the appropriate candidate. Virtual assistants are now doing this more efficiently. Many companies today are incorporating AI to screen resumes based on requirements laid down by their clients. The integration of a virtual assistant with the client’s applicant tracking system is enabling them to identify the desirable elements in a resume using pattern recognition methodology.
Thanks to AI-based chatbots like Helena, organizations are now able to screen the candidates before scheduling their interviews. The task of asking specific basic questions from the potential candidates is now automated. Such chatbots are helping in talking to candidates, collecting necessary information, and schedule interviews. Microsoft and Uber are some well-known examples that have deployed such chatbots.
Searching Existing Database
Another reason why organizations are incorporating AI & ML is that it is helping them to sort and pick appropriate profiles from the existing database of applicants. The database being referred here include resumes of all those candidates who may have applied earlier for a particular vacancy. Recruiters can pre-set points for the required qualifications. AI can find the match closest to such requirements based on the information provided in the resume. This is being seen as a great way of saving time in the hiring process and selecting the right person for the right job.
Finding Passive/Internal Candidates
Similarly, AI & ML is assisting in screening the database of passive and internal candidates. Many times such candidates are left out because of a wrong or biased opinion of the recruiter. But through AI & ML, this can be prevented as there is no scope of missing out on an ideal candidate because of personal choices. AI search for the best-fit person based on the pre-defined criteria.
Interviewing is essential to hire the best talent. However, it can be a time consuming and expensive process when hiring is to be done on a big scale or spread across different locations. AI-powered automated video interviewing apps are being adopted extensively today to eliminate the cost associated with face to face interviews. A quick assessment of candidates is possible through such apps.
Investing in AI & ML can probably prove to be the best investment for any organization today. The need of the hour is to achieve higher productivity at minimum cost. AI & ML tools are changing the way hiring is taking place around the world. Hiring professionals around the world (around 63%) have accepted that AI has changed the way recruitment is being done today. They are confident that they can find the right talent in lesser time because of AI & ML.
If you are looking for AI and ML-based recruitment solutions, then do get in touch with us.