While talking about “Artificial Intelligence” (AI) a few years back would have been like scripting a Hollywood Sci-fi movie; today it is something we are living with. AI has not only transformed the way we think but has literary changed the way we live today. AI applications are now available in almost all sectors and industries, facilitating professionals and laymen with equal merits. From breaking into the healthcare industry to contributing to the automotive industry, it is now ready to assist the recruitment industry.
AI or “machine intelligence”, uses different levels of search and mathematical optimization, psychology, mathematical interpretations of data, linguistics, statistics, probabilities, and various other tools to arrive at a solution and display human-like natural intelligence. It can perform functions that can revolutionize the world of recruitment.
A forecast by Tractica suggests that the annual worldwide AI revenues will grow from $3.2Billion in 2016 to $89.8Billion by 2025. This is a clear overview of the kind of impact AI has on almost every industry.
The most time consuming, an exhaustive, and decisive part of any recruiter is the “Screening” or “Application Tracking System” (ATS). Usually, they are subjected to long hours of calls, meetings, interviews, and discussions to screen various candidates, and finally, arrive at the best candidate for the advertised position. Instead, an AI holds the potential to resolve almost all challenges faced by a recruiter. Recruiters can manage ATS and benefit by using an AI at the time of screening. An existing ATS or a centralized portal and resume data-bank can get a bigger impetus with the introduction of AI.
AI has the architecture to collate, analyze, and present a rational output on the eligibility and suitability of the proposed candidate by accumulating data from multiple sources. For example, it can suggest a list of proposed candidates from a centralized portal, who are suitable for the position. The same is done by gathering their public information from various social media platforms, or search engines, thus predicting their personal assessments. This can be further correlated in an automated system to check the suitability of a candidate.
AI saves a lot of time and energy by managing the ATS and screening, and it allows the recruiter to add the human touch, with the saved time and energy, which is the most important element needed by any recruiter. AI, in the process, also eliminates any chance of human error due to the excess load of the screening process; bringing productive interactions in the communication with candidates.
AI has a distinct set of simulations, which can be employed to predict how a proposed candidate will react to a real-world situation. This will test the learning and adapting capabilities of the candidates, their critical thinking skills, and will highlight their problem-solving and teamwork capabilities as well. This way, the recruiter will not use assumptions or use predispositions to determine the competencies of the candidate and will select one with the highest haul or tenure.
It is therefore suggested, by top industry leaders’ like- Charlie Muirhead, CEO, and founder of CognitionX; that an HR must follow an AI roadmap based on inputs like- industry adoption, the tractability of adoption, and the relative payoff from assignment achievements.
Author: Shashir Shetty
National Sales Manager
Pearson Clinical and Talent Assessment