Role of Artificial Intelligence in Recruitment
Artificial intelligence (AI) is being increasingly used in the recruitment process to automate tasks such as resume screening and to reduce bias.
“There is no reason and no way that a human mind can keep up with an artificial intelligence machine by 2035.”
In the age of advancing technology, Artificial Intelligence, aka, AI, has taken over most of the areas of our life, be it academics, marketing, logistics, or even Research and Development. And, in this long list of areas that have been befriended by AI, HR processes like recruitment are prominently present. At a time when everyone is running a marathon and just rushing like crazy and chasing time, AI was introduced to the world to bestow mankind with even more efficiency and efficacy in time-consuming manual work. One such area, where the power of artificial intelligence has brilliantly excelled is recruitment. And, that is exactly what we are going to talk about elaborately in this article. Read along to know more.
AI for Recruitment
The implementation of artificial intelligence for talent acquisition processes like screening resumes, shortlisting candidates, and automating other manual tasks concerning recruitment at the same time is referred to as AI for recruitment. This streamlines and leverages your recruitment procedure particularly, redundant and manually challenging, and time-consuming tasks.
For instance, there is software that auto-screens resumes, and conducts sentiment analysis; does job postings; or chatbots that will keep communicating with the candidates by keeping them updated on the status of their application, schedule interviews, and so on. AI recruitment software also makes use of your ATS's wealth of data to generate insights into your talent pool. Artificial intelligence can assist recruiters with blind screening to reduce bias, as well as visibility into previous successful candidates who have stayed with the organization. ‘
The Growing Need for AI in Recruitment
Recruitment has always been a very lengthy process, be it screening volumes of resumes to constantly communicating with the candidates, it’s a heavily challenging job. That is why the HR technology ecosystem is now making use of Artificial Intelligence to reduce if not eliminate tiring manual redundant recruitment activities like screening resumes. In a survey by Ideal, 52% of the leaders of talent acquisition have confessed that selecting the best candidate from a large pool of potential candidates is the toughest challenge.
Since recruitment is continually under pressure to reduce costs, deliver value, and acquire top talent, Artificial Intelligence (AI) can be a boon in addressing these challenges and focusing on acquiring the right talent promptly. AI for recruiting technology enables recruiters to better leverage their applicant tracking systems (ATS), allowing them to hire more efficiently, shortlist resumes more accurately, and screen resumes more fairly.
Role of AI in Recruitment?
The traditional process of hiring includes selecting the perfect candidate out of hundreds or even thousands of other potential candidates. Such a task is lengthy enough to frustrate both the employer and the candidate. But now, gone are such times. All thanks to AI that lets the employees take a sigh of relief.
The AI software thrives on massive amounts of data, assimilating data analysis and virtual assistants to analyze the data and monitor the trial of all proceedings of a potential candidate's interaction with the company. The AI software analyses resume based on various parameters to determine if the applicant is ideal for the position and the organization. The software is also adept at providing algorithms that can assess applicants' emotional maturity, work ethics, and a variety of other intangible factors by presenting them with real-world tasks that they may be asked to perform if hired.
Talking of job postings, AI improves the quality of job postings, which means you don't have to worry about manually updating job postings because AI can do so. The functionalities also guarantee that only qualified, top-notch candidates, join the talent pool. Furthermore, messages can be sent to passive candidates who may be a good fit for the company, encouraging them to apply for a specific job.
AI can precisely assist in quite a few areas of recruitment which we listed below.
1) Intelligent Screening Software
This software will leverage AI (machine learning) to automate the process of resume screening on your existing resume database. Taking into account their performance, tenure, and turnover rates, the software determines which candidates progressed into becoming successful and which unsuccessful employees. It specifically learns about existing employees' experience, skills, and other qualities and applies this knowledge to new applicants to automatically rank, grade, and shortlist the best candidates. Intelligent screening software that automates resume screening represents a huge opportunity for employers since it combines with your existing ATS, implying it doesn't disrupt your workflow or the candidate's workflow, and only requires a small amount of time.
2) Conversational AI
The statement – ‘Communication is key’ is universal, and the process of recruitment is not an exception. Candidates always desire updates about the status of their applications, and they hate to be ghosted. As it also becomes tiring for employers to individually communicate with each potential candidate out there. If they do not hear back from a company after applying, 58% of job seekers have a negative impression of the company, whereas 67% have a positive perception of the business if they receive consistent updates throughout the application process. This is why conversational AI is handy; they provide real-time communication by asking questions based on job requirements and providing feedback, updates, and next-step suggestions. WhatsApp based conversations are gaining significantly more traction now a days.
3) Digitized Interviews
Online interview software has been in use for quite some time now. Artificial intelligence (AI) is now capable to assess candidates' choice of words, manner of speech, and facial expressions to determine if they are fit for the role and, possibly, the organization and its culture. During a job interview, AI can be used to evaluate a candidate's responses and assess their fit for the job. This can be done through natural language processing, which allows the AI to understand and analyze the content of the candidate's responses.
Benefits of AI in Recruitment
Have a look at the plethora of benefits that AI in Recruitment has to offer:
1) Quality Hiring
HR personnel must choose the best candidates from a large range of applicants. Employers can gather more information on each candidate and thus more effectively evaluate candidates. AI can analyze data from a large number of job interviews and identify patterns or trends that may not be immediately apparent to the interviewer. This can provide valuable insights and help the interviewer make more informed hiring decisions.
2) Better Integration of Analytics
HR managers get to recruit candidates considering their qualifications, and skills and place them in suitable positions where their abilities are most needed. This new approach not only boosts business productivity but also encourages candidates to improve their skills. Additionally, AI software outperforms human recruiters in terms of accuracy.
3) Impartial Decisions
Human intervention always involves some level of bias, whether unconscious or conscious. Biased decisions are pretty common in many companies. By using AI to evaluate candidates, the interviewer can reduce their own bias and make more objective decisions based on the candidate's qualifications and responses. Companies stand to get only the best candidates based on their true potential and personality because all decisions are based solely on data and resumes.
4) Saves Time:
Who doesn't want to focus on value added tasks? AI solutions not only save time but also money and resources. AI can further help to streamline the interview process by automating certain tasks, such as scheduling and initial screening. This can save the interviewer time and allow them to focus on more important aspects of the interview process.
The Future is here
AI can play a role in the hiring process in a number of ways. It can be used to analyze resumes and cover letters to identify the most qualified candidates for a job, as well as to conduct initial screens or assessments of candidates. AI can also be used to schedule and conduct virtual job interviews, using natural language processing to understand and evaluate a candidate's responses.
In addition, AI can be used to analyze data from a large number of job interviews and identify patterns or trends that may not be immediately apparent to the interviewer. This can provide valuable insights and help the interviewer make more informed hiring decisions. Overall, the use of AI in the hiring process can help to improve efficiency and effectiveness, by allowing companies to more quickly and accurately identify the best candidates for a job. However, it is important to ensure that AI is used in a responsible and transparent manner, and that human oversight is still an important part of the process.