The Coronavirus has created a chain reaction of activities that has increasingly impacted the economic stabilities worldwide, due to which the market is continuing to see massive growth in the unemployment numbers. While the current job scenario is unpredictable, we are to expect rigorous hiring processes in the near future. Considering that Artificial Intelligence (AI) has positively impacted many industries, this high-tech technology can also assist in recruiting.
Also read: Hiring During and After the Pandemic
While screening numerous resumes proficiently is one of the biggest tasks in Recruitment and Selection, AI automates repetitive tasks to save time and reduce operational costs. However, Modern recruitment via AI-powered software has more benefits as opposed to just automating administrative workload. Some benefits of using AI in recruitment include:
- Improvised analytical integration
- Unbiased decisions
- Quality hiring enablement
- Automated time saving
Top 3 Applications of AI in recruitment
1. Computerized Candidate Sourcing
An important process in recruitment involves sourcing potential talent. The decision locating potential applicants can be an extremely tedious task. However, the advancements in AI for enrollment currently empower recruiters to computerize sourcing processes while expanding their span simultaneously. AI-powered tools can investigate over 300 million social profiles for the same while saving time, resources and assisting in getting the job done beyond human potential.
2. Talent Rediscovery
In the current employment scenario, numerous organizations battle to discover the top abled talents to find ‘the perfect cultural fit’. Suppliers, however, can use AI-powered innovations to screen an applicant’s pool for past competitors that could be a solid match for another job. Their positioning can even incorporate promising profiles that have been overlooked for long time periods.
3. Talent Matching
The promise of AI to improve the quality of hired candidates essentially lies in its ability to use data and standardize the matching between applicants’ experience, knowledge, skills and the requirements of the job. The improvement in job matching has predicted to lead to happier, more productive employees who are less likely to turnover. In fact, L&D (Learning & Developmental) programs too are increasingly altered today to adhere to the necessities of individual workers. The present AI innovations are also additionally being utilised to upgrade the experience.
Also read: Global AI Initiatives to Fight Coronavirus
Despite the fact that Artificial Intelligence has investigated almost all conceivable business circles, many enrollment specialists are still fairly afraid of inculcating AI arrangements — either due to inadequate knowledge about them or because of the fear of AI being able to supplant them. However, as per reports, companies using AI-powered recruiting software have seen their cost per screen reduced by 75%, their revenue per employee improve by 4%, and their turnover decrease by 35%. Keeping in consideration of the current market scenario, AI will only prove to be beyond useful in selection and the estimation of human work.
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