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Artificial intelligence (AI) is the new buzzword. And we frequently hear or read about AI-related news stories, such as the development of driverless or self-driving vehicles. Any user who communicates with a chatbot on a website is using AI. However, have you ever wondered how precisely artificial intelligence is being employed these days in the talent acquisition industry?
Artificial Intelligence in Talent Acquisition:
How can AI help talent acquisition locate people with the highest level of skill?
It might be difficult to find the proper candidate quickly in today’s competitive marketplace. Finding qualified applicants in the future will rely on how the Talent Acquisition teams and recruiters automate their processes.
The research found that 96% of recruiters believe AI can improve talent acquisition and retention. While, only 13% of the HR staff have, as of 2018, implemented AI in recruiting. However, there is a lot of potential for AI in recruiting since over 55% of recruiters plan to use it by 2023.
This article explains how AI will assist businesses in the long term and boost efficiency among hiring managers and talent acquisition teams.
Some of the key characteristics of AI in talent acquisition are described below.
Candidate Assessment:
One of the difficult tasks for recruiters is candidate screening. Recruiters get more than 250 resumes for a single position, and 75% of them are unqualified. For one vacant position, a recruiter spends 23 hours reviewing resumes; more than 60% of this effort is spent making sure the resume is the right one.
In a survey, 52% of talent acquisition leaders stated that selecting candidates from a vast pool of applicants is the most difficult aspect of hiring.
When IBM employed AI to screen candidates back in 2013, it was a successful application of the technology. 80% of the employees in a shuttered business unit might be transferred to other divisions.
Finding Candidates:
Recruiters must invest a lot of time in discovering the best route to locate the ideal candidate for an open position. Since sourcing candidates from various job boards and social media takes time. Organizations must locate and hire candidates in the shortest possible time in today’s competitive environment, and AI is the ideal tool for this.
The AI tool’s ability to extract job criteria from the job description. And incorporate them while searching the database is a huge benefit. To select the best applicants, AI considers several variables, including candidate education, experience, projects, and skill sets that fit the job criteria.
Targeting and posting jobs:
Previously, recruiters had to manually add the positions to the dashboard after logging in, which took a lot of time. However, customized advertising via artificial intelligence is transforming the job posting process. AI programming is done so that the position is listed and targeted to the applicants who are qualified for it.
Based on the demographic profile, search history, and abilities of the potential applicant, targeted ads may be shown on social networking sites like LinkedIn. The job the applicant is interested in and could take in the future can be shown in their search history.
Candidate Discovery from Niche Websites:
Talent Acquisition heads are aware that it might be challenging to fill some roles in the fields of data science and machine learning. Such positions are filled through internal hiring or reference checks. However, passive job seekers are active on some specialized websites like GitHub. But it is extremely difficult to recruit from these sites. One of the most well-known locations in the IT sector where applicants from all backgrounds join the platform to learn, share their opinions, and build software is GitHub.
