Artificial Intelligence (AI) is the new buzzword, not without a reason though. AI is bringing phenomenal transformations across industries and recruitment can’t be far behind.
The recruitment function has been going through some level of automation but the use of technology was largely limited to basic workflow management. AI interventions can be transformational for recruiters. What can AI do for recruiters which standard automation cannot? A lot in fact. Let me throw some light on the benefits it brings in for recruiters.
Firstly, AI can save significant costs. A recent study says that companies process 250 resumes to fill one open position. That is a lot of manual work. AI can completely replace manual screening of resumes saving enormous amounts of manual labour for companies.
Secondly, AI can tremendously enhance Turn Around Time (TAT). Imagine, AI can screen resumes at speeds much faster than any human can do. A good AI system can do the work of dozens of recruiters in no time. Companies can significantly improve their TAT time for potential employers.
Thirdly, AI can bring in accuracy. Most of the automated resume screening currently happens through key word search. This is not only rudimentary but runs the risk of missing out on good candidates. AI takes a multi-pronged approach to screen resumes and hence can be near 100% accurate every time all the time.
Fourthly, AI can eliminate the bias of humans. No matter the experience, recruiters’ judgement can be highly subjective. This inherent bias can seriously undermine the ability of companies to consistently recruit good candidates. AI resume screening and interview processes can eliminate these human biases fully.
And, finally AI can save massive costs for recruiters by dramatically improving productivity, enhancing speed of delivery and bringing high efficiencies.
