The Future with Artificial Intelligence & Machine Learning in Recruitment
Every industry has started working with the latest technologies to keep themselves on top of things in their products/platforms/software. The latest buzz of the time is “Artificial Intelligence” and “Machine Learning” where each and every work of humans are being automated using algorithms and deep learning. I think, its high time for recruitment industries and staffing solutions to adapt the technology to go hand in hand with recent trends and see more growth. Its a myth that AI and machine learning will be replacing humans and it will be eating most of our jobs but its actually Humans + Machines working simultaneously with more accuracy to get the best results.
The term “Artificial Intelligence (AI) “ is applied when the machine mimics cognitive functions that humans associate with other human minds such as learning and problem solving known as “Machine Learning (ML)”. Machine learning, on the other hand, is a type of Artificial Intelligence that provides computers with the ability to learn without being explicitly programmed. ML focuses on the development of Computer programs and algorithms that can change when exposed to new data. The process of ML is similar to Data Mining.
AI and ML will create a great impact in the Recruitment industry as it will generate more Human-Like functions. Recruitment majorly focuses on searching the right talent, hiring, engaging, market intelligence, counseling etc. AL will help leverage intelligent machines keep our focus on the need of the candidates and the customers/clients. Actually, to say, there is no real learning developed by the machine. It does not evolve, grow or change from responses, answers or any common questions by the individuals who are interacting with the machines. Al is just a tool/functionalities used in some products which in-turn is applied in systems to generate results out of previous data.
Few of the AI based companies in Recruitment –
Mya, Workey, HireVue, HireIQ, Restless Bandit, Belong.co, Zoho, Darwin box,EdgeNetworks, Mettl
Impact of AI:
This is one of the vital strategies to get the right candidate out of the crowd. AI helps in analyzing the candidate resume with the required skill sets and provide us with the accurate candidates out of the past data as every company will have their own database from their past but nobody makes use of it in a right way so AI will do the job for us and pull out the right candidates. This could help any recruiter to effectively assess the candidate in the quickest and most effective way possible.
Most of the candidates will not receive any kind of communication or interaction once they apply for the job. AI will automate the process of candidate engagement that goes beyond standard automated mailers. Certainly, AI can be integrated into candidate automation however, these responses or messages or engagements can be a real-time and unique to the individuals and not just a bulk email. It will be more interactive and individuals and raise their queries and doubts regarding the role, position, team, contribution, career growth etc which will generate a process based database for the candidates to analyze and provide the right information.
Analyze the candidates:
Whether it is “Applicant Tracking System (ATS)” or “Candidate Relationship Management (CRM)”, candidates records go untouched or sometimes missed after they apply for the role or after job requisition is closed.AI allows us to re-engage with the candidates to determine their interest level in the position or the role while using the engagement opportunity to update their candidate record to reflect new position, work experience, skills etc, that might have acquired on last conversion or process. In this way, we can reach to the potential candidates who may be the better fit for the role and as we might have already interacted with them already, it would be easy for us to process them because the candidate would have developed the trust factor with us already which will get us positive results.
When it comes to scheduling, a lot of time used to spend on coordination, sending emails, blocking calender’s, getting acknowledgement etc. AI will provide us with automated schedulers, sharing emails, blocking calender’s everything its just that we need to add the basic formats in the tools and other things will be automatically generated by the machine by itself. It will yield us more of productive time rather than getting into coordination. Instead, we would be getting automatic remainders during scheduling time and it will be easy for us to do proper follow-ups as well.
Many of us fail in this area as post-offer follow up is very important to keep candidates engaged and understand their status as well. AI could help to fill the gap by engaging and regular follow-up with candidates and updating the status for us. There will be more chance of offer to joiner conversion in this way when candidates feel more engaged and occupied with a lot of interactions and even help them with their queries.
With all these, AI will definitely become a revolutionary platform for the recruitment industry and recruiters to be more engaged with candidates and make use of the past data to utmost utilization. AI will help in getting the right skilled candidates, engage them and convert them to the better roles. The more the candidates interact, they feel more engaged and the ratio of acceptance to the offer to joiner would be high!