How will AI impact recruitments across sectors?

A report from the Chicago-based artificial intelligence (AI) company Narrative Science, has revealed the findings of a survey of 235 business executives, which state categorically that as many as 38 per cent of respondents have already implemented AI technologies in their organisations. Conducted by the National Business Research Institute (NBRI), the survey also revealed that the remaining 62% are expected to implement AI tech within 2018.

AI continues to disrupt industries across the board - from software and healthcare to consumer goods and financial services, and it is evident that it is hell-bent on pretty much reshaping the entire global business landscape. But – and this may surprise some - the recruitment industry isn't immune to automation, either. Now, AI-powered talent acquisition technology has penetrated the recruitment space, taking over the repetitive, tedious and low-value tasks, allowing the human resource (HR) departments of businesses to focus on more meaningful activities. The everlasting struggle to acquire the best talent has triggered a seismic shift in the way HR managers are reaching out to the right candidates to fill critical positions across sectors.

Given that the AI-driven software is designed to integrate with existing Applicant Tracking Systems (ATS) in organizations, recruiters can now conduct intelligent headhunting that extends beyond keywords. In fact, intelligent screening also has the potential to substantiate the data provided in a candidate’s résumé with information from their digital footprints.

Today, HR leaders believe AI has the potential to help to hire managers to become more “connectable” by freeing up their time and allowing them to understand the “human” side of prospective candidates in order to make an informed decision. In the near future, organisations could soon witness the transformation of recruiters into strategic talent advisers focused on long-term business impact.

New agent of change in the hiring industry
In this age where people are not shy of seeking better opportunities or pursuing their dream jobs, AI has revolutionized hiring processes across sectors worldwide. With the emergence of automated data-driven decision-making capabilities, recruiters are now set to transition from a conventional support-only function to a more strategic business role. Though the change has occurred at a snail’s pace over the past few years, every additional upgrade is designed to save the organization's time, money and redefine its future.

As technology becomes more practical and cost-effective, talent acquisition teams are harnessing AI to sift through large volumes of data to identify meaningful correlations and gain insights. For example, AI-supported resume-screening overlooks demographic information while shortlisting candidates, reducing any kind of unconscious bias. Such innovative approaches not only reduce dependency on external agencies for talent sourcing but also halves the time taken for recruitment.

With technology matching the most suitable personality for a given job role, AI has further raised the bar by creating more personalized workplace learning experiences through sophisticated speech recognition and user interface technologies. This, in turn, is expected to result in better customer engagement that is closely linked to better employee relationships and experiences.

In a nutshell, given the popularity of AI, HR leaders who succeed in using it to their advantage, stand to reap rich dividends. When we are already using virtual assistants and chatbots in our personal lives, why can't we use them in our workplaces to make a difference