What Is AI-based Recruiting?
The world of recruiting is changing, and it’s changing fast. The introduction of AI-based tools has given recruiters unprecedented power to find great candidates, but some people are unsure how this will change the way we do business in the future.
A Brief Intro on AI, ML, and Bots
AI, machine learning, and bots are all the rage right now. But what do they mean?
AI refers to a broad set of technologies that enable machines to perform tasks without being explicitly programmed. Machine learning is a subset of AI that involves training an algorithm using examples and data rather than writing code from scratch. And bots are software programs designed to automate certain tasks (like processing customer service inquiries).
AI allows us to solve problems that humans can’t solve on their own — and it’s being used more frequently in workplaces around the world as businesses look for ways to increase efficiency and productivity through automation.
What Does AI Mean for Recruitment?
AI-based recruiting is a way for companies to find the best candidates for their open positions. It’s not just about finding more talent, but also about finding better talent and more diverse talent.
AI-based recruiting uses data from past hiring experiences to predict who will be successful in roles at your company. This means that AI can help you hire people who are likely to fit into your culture, perform well on the job and stay with your company for years instead of months or weeks (or even days!).
How Does AI Recruit Better Candidates?
AI is being used to help organizations identify talent and improve their hiring processes. AI can also be used to reduce bias in the selection process, which will increase your candidate experience and retention rates. Here are some ways that artificial intelligence can help you recruit better candidates:
- Use AI-based screening tools to identify key skills and experience that are important for the position you’re trying to fill
- Eliminate irrelevant information from resumes
- Use AI-based interview scheduling tools so that all candidates get an equal chance at interviewing with someone face-to-face if they make it through screening
- Automate reminders for when interviews are scheduled
Limitations of AI For Recruiting
We all have biases. We all have different experiences and views of the world, which shape how we see it. In the scope of interviewing and hiring several companies claim to be able to use AI to better understand candidates and help identify strong talent. In practice, this is often incorrect and has been implicated in several instances of biased selection processes.
In a perfect world, these biases would not influence our decisions at all - but in reality it’s important to be aware of them so that they don’t affect your hiring process. And not just for moral reasons — AI-based hiring tools face significant legal scrutiny. For example, New York state now requires all AI hiring technology tools used in candidate selection to pass a third-party audit of their systems.
While machine learning and AI technologies can substantially speed up hiring processes, it is still best practice to maintain human control of sourcing, interviewing and selection processes.
The Future is Bright
There are many ways of using artificial intelligence to improve your recruiting process. AI can help you find the right candidates, identify bias in your hiring process and reduce time spent on recruiting tasks.
AI-based recruiting solutions have been around for more than a decade now but adoption has been slow due to several reasons such as lack of awareness about these technologies among employers, lack of understanding about how they work, and cost considerations.
However, with advancements in machine learning algorithms and increase in computing power, we are seeing companies adopting AI-based solutions rapidly across industries like banking & financial services and healthcare.
AI tools can help you find the right candidates faster than ever before. As we get more comfortable with these new technologies, we’ll see even more amazing possibilities emerging. Learn more about Chatkick’s perspective on AI and recruiting here.