Artificial intelligence (AI) is basically referring to computer programs that use machine learning algorithms to simulate how people would think or respond in certain situations. And, with the ever-increasing amounts of big data being captured, AI is getting more advanced and more prevalent.
In the talent management and recruitment industry, we are seeing three significant trends in how AI is making an impact.
More Efficient Screening – Recruiters often have vast numbers of resumes to weed through, taking up huge chunks of time that could be better spent interacting with those final candidates who are potentially good matches for the job. Intelligent screening software uses AI to automate the screening process by “learning” what has been necessary for success in the job in the past and comparing those traits, skills and experiences to the resumes of new applicants so they can be automatically weeded out or ranked based on potential fit.
Additional information that a company deems important (such as social media profiles) can also be pulled into the process to add another layer of screening. When you consider that some recruiters estimate that 88 percent of the resumes they receive for a given job are unqualified, having a reliable, automated system that quickly eliminates that portion is invaluable.
Better Candidate Experience and Engagement – Whether we are searching the web for information or ordering a pair of shoes, there’s no denying we expect quick results. In fact, we are so used to immediate gratification that we don’t think anything of it—until it doesn’t happen. A Career Builder survey found that 58% of applicants who didn’t get a response after submitting an employment application perceived that company in such a negative light that most wouldn’t consider, or recommend, applying to that company in the future.
Companies can’t afford to lose strong applicants because they are not responsive. AI helps out here with the use of chatbots. Chatbots use “natural language processing” to instantly interact with candidates. This conversational interface can ask job-related questions, provide feedback and give candidates information about what they should do next. The beauty of this is that recruiters will be freed up from the task of responding to repetitive applicant questions, but candidates will still have a strong sense of company responsiveness and communication.
Improved Prediction – People are complex. Capturing all the nuances and possible thoughts and reactions people can have to situations will still require loads more data before we reach perfection in predicting how someone will perform in a given job. That being said, we still have more data than ever before.
Artificial Intelligence for recruiting is compiling and analyzing mountains of performance data, employee engagement data, and turnover data to understand more about performance prediction. The data are being combined with digitized interviews that use “machine learning” to evaluate things like candidate speech patterns, word choice and facial expressions, in order to predict how strongly matched a candidate is to a specific job, and how likely they are to be engaged and successful.
As Artificial Intelligence options continue to evolve, we will continue to see new ways to improve the talent management industry. Consider AI your personal assistant whose goal is to help your effectiveness and efficiency thrive. For more information about how TalentCircles can help you create a more effective talent community, call us at 415-835-0202 or email us at email@example.com.