AI seems to be the most talked about thing these days. With each further step taken in the AI arena giving rise to more and more opportunities, innovations and use cases it is difficult to imagine an industry that it wont be a game changer in.
The recruitment industry is currently playing a pivotal role in the marketplace today. Millions of individuals depend on it for placement and small and large companies alike depend on it for finding the ‘right fit’. This responsibility is huge: each of these individuals hired affects the costs and revenues for a company. When aggregated, this means millions of dollars hence ideally there should be little to no margin of error when it comes to selecting the person who will be most cost and time efficient.
It has become increasingly difficult especially for large corporations to sift through hundreds of resumes, skillsets and personalities to find the ideal candidates that meets all the necessary requirements. Not to mention the process of finding such a candidate itself. The way HR is functional today is painfully time consuming and involves tons of logistical coordination and overseeing. Another problem that arises in such a situation is that of human bias. People are prone to make judgments which might not necessarily align with the requirements of a role and thereby alter the outcome unfavorably.
With an increase in the volume of data and the different types of data (such as ever increasing skillsets, qualifications and industry jargon), AI is the perfect candidate to revamp the recruiting business.
Recruitment can indeed be simplified with the help of AI. AI can help develop algorithms that avoid human bias in recruitment and thereby pick the best candidate. AI can significantly shorten the time it takes to differentiate between good candidates and the not so good ones. AI can also help fine tune the hiring process by automating a number of things such as interview scheduling. One can even extend the argument in favor of AI on the side of the companies that are looking to hire by potentially giving them tools that help them to identify exactly what it is they are lacking within their current pool of employees to carefully extract those skills which they truly require.
Share your thoughts with us and let us know how you think AI can be used within Recruitment.