Artificial Intelligence, AI, is here and changing our world every day; however, most of what we hear has been quite ominous at best. Perhaps Stephen Hawking’s statement that AI will be “either the best or worst thing” for humanity is a pretty foreboding statement depending on if you are a glass half full or half empty person.
The reality is that we know AI is present today in our everyday lives and is beyond the realm of science fiction. We see it in the ads presented to us in our social media, our use of Siri, Cortana, smart cars, predictive purchasing, fraud protection and apps like Netfix, Spotify and the like. But where are we in the world of Recruiting and Artificial Intelligence?
There are a number of exciting platforms that will undoubtedly change fundamentally business processes, and I believe very positively and the world of recruiting is one of them. Recruiters have used Applicant Tracking Systems (ATS’s) to source, track and manage candidates for many years. Today, there are a number of AI applications that incredibly enhance and leverage those ATS systems to the next level.
How is Artificial Intelligence Enhancing Recruiting?
The likely biggest challenge for most recruiters is effectively and efficiently screening multiple applicants to find the best candidates. Recruiters can spend upwards of 50% of their time “stuck” in this application and screening phase. Automated screening with AI can reduce this time significantly by eliminating a majority of candidates who may be unqualified while making recruiters significantly more efficient. With analytics and AI, these systems will only become more intelligent, ultimately leading to better candidates and certainly shorter times-to-fill, and allowing recruiters to let their clients know when their requirement will be expected to fill. The biggest win for recruiters and contractors alike will be that with this added efficiency tool, recruiters can focus more time on really connecting with and engaging candidates for true full fit, as well as through the entire hiring and on boarding cycles. Most would say these are the real high value aspects of recruiting that lead to stronger candidate and client relationships — essentially the human elements of the profession.
AI in recruiting also provides the capability to offer deeper, more enriched candidate data that encompasses more data by scraping public social media profiles or any online professional work data or profiles. All of this contributes to better fit engagements, which of course for contractors means more successful placements, better references and ultimately more opportunities.
Additionally, we have seen together with advancement of AI in recruiting the addition of recruiter chatbots that engage with candidates in real time interaction to further pre-qualify and, in fact, digitize early stage interviews, further freeing up recruiter time to create more time to build relationships with contractors. This capability as it pertains to the future of AI in recruiting is often referred to as Augmented Intelligence, which underscores the importance and necessity of the human element in recruiting so that, far from replacing the human component, it rather enhances it.