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The role of artificial intelligence in identifying and acquiring talent increased in 2019. And the trend is set to continue through 2020 – and well into the decade beyond that.
While it is neither possible nor desirable to remove the human touch from the process, there is no doubt that talent acquisition is being significantly disrupted by AI.
Many HR pros will be familiar with the impact AI has in the consumer world. The likes of Amazon Alexa and Google Maps have employed AI to great effect. But its presence is also being felt in the business world.
Consider these examples of AI within these blue-chip organisations:
- JPMorgan Chase undertakes legal checks of commercial loan agreements with AI, saving an estimated 360,000 hours of legal review annually.
- The Associated Press automates earnings reporting, publishing more than 4000 AI-created articles each quarter.
- And hotel chain owner Hilton uses AI to assess candidate interviews, improving interview hire rates by as much as 40% while decreasing time to fill roles by 90%.
The cost and time savings for these firms is enormous.
Here are three considerations linking AI to talent acquisition:
#1. AI in Recruiting: Predictive power is key
The potential for AI to make an impact in all aspects of a company’s business is enormous. Recruiting is no exception. Talent acquisition works best when it can predict the best candidates for roles, and forms relationships that turn those candidates to employees.
Properly deployed, artificial intelligence has the capability to scale and manage a large chunk of this prediction work. AI has the potential to identify talent for recruiters and hiring managers, unearthing the best candidates regardless of work history, educational background, and demographic.
Effectively implemented, AI can deliver dramatic improvements in the quality of hires, time to fill, new-hire diversity, as well other crucial recruiting metrics.
#2.The question that cuts through the hype
Although not 100% precise, you can use this question to test whether an AI vendor is delivering the highest potential for impact:
Could a team of interns, armed with calculators and flowcharts, do what this AI claims to accomplish?
If the answer is ‘no’, then it’s likely that the vendor is not making the most of available tech in today’s market. The thing that differentiates a good AI provider is the ability to embed expertise – not just rote tasks – into an algorithm.
#3.The artificial intelligence landscape
According to recruitment strategist, Jon-Mark Sabel, AI in recruitment falls into 9 major buckets:
- AI-driven assessments
- Candidate rediscovery
- Job description optimisation
- Ad automation
- Job market forecasting
- Candidate relationship management
- Résumé filtering
- Social (media) candidate discovery
In each bucket are a wide variety of solutions that promise similar results. This puts recruitment specialists in a dilemma.
How do you vet vendors when they all promise the same improvements in terms of quality of hire and time savings? It all comes down to which technologies are most likely to fundamentally change your recruiting strategy and deliver transformative – rather than just iterative – successes.
Parts of this article were first published on the hirevue website.