Today, we are at the beginning of a Fourth Industrial Revolution. Digitisation has forayed into our lives and immense scientific developments pertaining to artificial intelligence, genetics, robotics, nanotechnology are all scaling up and almost augmenting one another. All these are set to lay the foundation for a revolution that would not only be comprehensive but also all-encompassing than perhaps anything we have been witness to so far.
The digital revolution that has been occurring since the mid-twentieth century—is characterised by a synthesis of technologies that is obscuring the lines between the physical, biological and digital spheres.
The world of recruitment has undergone tremendous changes since the Fourth Industrial Revolution. The Fourth Industrial Revolution or complete digitization has forayed into the recruitment industry and has created a ripple effect all across. Whether it is big data analytics, talent analytics, workforce analytics or even artificial intelligence (AI)—all have made their mark in the domain.
Recruiters are gradually shifting focus to analytics and Artificial Intelligence that are redefining the future of recruitment. In fact, according to one TechCrunch forecast, AI accounted for 5% of all investments in 2015.
What is artificial intelligence?
Artificial intelligence refers to the theory and development of computer systems ability to accomplish responsibilities that normally demands human intelligence, such as pictorial sensitivity, dialogue recognition, decision-making, and translating from one language to another.
How will artificial intelligence influence recruitment?
So we wonder: How AI will influence recruitment and how the latter will benefit? Needless to say that certain technologies will be helpful and experts are of the opinion that AI will have a positive impact on recruitment.
Explained below are a few ways in which AI will impact recruitment. Here’s a look:
1. More efficient screening and candidate communication
It is well known that recruiters have limited time to sit and sift through resumes. Experts feel that screening is a huge area that needs development. Recruiters can only spend seconds screening a resume and this human touch can be prone to error as well. This is where AI can come to the rescue.
Experts believe that AI bot has the potential to alleviate some of these negative points. Above all, the AI could support recruiters maintain more reliable candidate communications. From a screening perspective, AI has the capability to close the hoop with potential candidates, resulting in more productive interactions and faster time to hire.
2. Better timing to reach out to candidates
Recruiting passive candidates can be very difficult; as it is almost impossible to gauge if a candidate is actually looking to make a professional switch or not. But what if there existed a magic wand, that too in the form of technology which, could assist you in achieving this almost Herculean task?
This is where AI can help.
If recruiters implement AI, instead of relying on their instinct and gut feelings, they can reach out to potential hires at the exact time when they are willing to make a move. For instance, monitoring social media behaviors that correlate with someone being ready to make a transition.
This will enable recruiters to focus or lay emphasis on their relationships with hiring managers and candidates, rather than being bogged down by administrative tasks.
3. The ability to predict if a candidate will be in it for the long haul
One of the biggest goals of recruiting and often the most difficult one — finding the right candidate. And at most organizations, hiring managers and recuiters find themselves relying on indirect measures to find the right fit; they often rely on intuition as well. AI can alleviate the challenge of connecting people to jobs, i.e., to help find managers the perfect fit.
What if there existed a system that could tell you that who would be the perfect match and why? Such a system could collate data from multiple sources and come up with a calculation for whether candidates will be engaged in their roles over a long period of time or not.
The bottom line: Artificial Intelligence can improve the process of matchmaking role.
4. Real world replications that evaluate a candidate’s learning abilities
Adaptability is one of the most valuable traits shared by all top performers. But how is it possible to capture a concept as obscure as someone’s willingness to learn? Today, recruiters rely on a combination of personal anecdotes and peer references to evaluate candidates. However, experts opine that these predictions are often incomplete.
By implementing AI recruiters can actually run business simulations that predict how candidates will respond to real world situations and changing scenarios. These may refer to applications that run on computers or mobile devices and adapt to interviewing processes in real time.
Industry experts also convey that by implementing simulations, recruiters and hiring managers can gauge problem-solving skills and teamwork capabilities in real-time. The intent is to learn more about candidates by developing their learning and critical thinking skills.
AI can help enhance adaptability, critical thinking capabilities, and problem-solving in action.
On a last note, it can be said that AI is definitely going to be the next big thing in recruitment and it is all set to redefine the overall process of recruitment in the coming future.