AI is changing every industry it touches, and recruiting is no exception. While the process of hiring is based on human discretion and somewhat biased decision-making, there are still manual tasks that can be automated to save time and make hiring more efficient.
Aside from admin work that can be handled through algorithms, there are new AI innovations that are changing recruitment processes almost every day, making them more personal even without human touch.
Recruiting top talent is no easy task, but it becomes easier with AI features like resume screening, skill testing, interviewing, and even predictive analytics. So far, the adoption of AI tools in hiring processes has been steadily growing. What does the future hold?
Let’s discuss the advancements of AI in recruiting, look into the future, and understand what we can expect for the next 5 years.
A brief history of AI in recruiting
AI entered the market of recruiting with basic automation tools that took care of sorting CVs and tracking applicants. Later on, they became capable of even matching candidates with suitable roles using intricate data analytics.
In 2022, the global AI recruitment market was worth $630.5 million, and in 2028, it is projected to reach a whopping valuation of $839.5 million.
You know what they say – slow and steady wins the race. Recruitment AI tools are on track to truly revolutionize the market. They will make hiring faster, more efficient, and more precise than ever.
Although there are concerns about including AI in human-centric processes like recruitment, the potential benefits of such advancements are undeniable.
Issues like AI bias, discrimination, transparency, and data privacy will need to be controlled as AI keeps growing. Naturally, regulations will be put in place to control the fairness of AI-based decision making in the future.
With an estimated 87% of companies already using some sort of AI in their hiring processes, this trend doesn’t seem to slow down its growth. So, why do these companies find AI worthwhile? Let’s dive deeper and talk about AI‘s specific effects on recruitment.
How AI is changing the recruitment process
AI has been a controversial innovation in many fields. In the case of recruitment, this is still true. Yet, around 62% of recruiting pros are optimistic about the impact AI will have on the field. It is up to the hiring specialists to evaluate the benefits and drawbacks of AI in their work.
It’s undeniable that AI can automate admin work and menial tasks to help redirect the hours your staff spend onto something more valuable. Talent acquisition doesn’t need to be purely manual. Let’s talk about the 3 main ways AI is fundamentally changing the processes of recruitment.
AI transforming interviews and more
Ever heard of an AI interviewer tool? They work best for measuring technical skills, which are crucial in fields like software development. And these tools are not inexplicably popular. They bring tons of value that justifies their cost. For example, they can:
- Generate Skill-based questions
- Dig deeper into a candidate’s skills based on their CV
- Schedule and run interviews from start to finish at convenient times for the candidates
- Rank candidates without a human bias
- Evaluate candidates in real-time based on their interview performance
All of this combined helps your hiring specialists save time, be unbiased in their assessments, evaluate soft skills, and more. In the future, these tools can even measure whether a candidate is a cultural fit and predict their performance in the company.
Considering that 2/3 of the time spent on recruiting is spent on interviews, automating some parts of it can be a major game-changer. The world is recognizing this shift and adapting to it, slowly but surely while these tools become better and stronger.
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IoT and emerging tech in recruitment
Some of the most powerful technologies that will shape the area of recruitment are also IoT tools that will use AR (Augmented Reality) and VR (Virtual Reality) for job simulations. This tech will measure a candidate’s experience on the job without any significant commitment.
Collecting the right data on candidates is key to choosing the best fit for a position. If hiring strategies are based on data that shows how a candidate will perform on a day-to-day basis, recruiting the best candidate for a position will become easier and more effective.
Data can also help recruiting teams understand gaps in their teams and fill those gaps with data-backed insights. New tech will keep on improving recruitment processes, making them more robust instead of being based on a hunch.
Better candidate experiences with AI
AI doesn’t only make recruitment better for companies but also improves the experiences of candidates. It helps with personalization in communication, which makes interactions less robotic and more human-like.
Chatbots that use AI also help candidates with any questions they might have in real-time. On top of all that, application processes will continuously be made easier for candidates, reducing dropout rates and a significant amount of potential frustration.
If you are a candidate applying for a job at a company that uses AI in its hiring processes, you will naturally enjoy the timely feedback and tailored job recommendations that AI-powered tools can provide. You won’t have to face any lack of clarity about your application status. It’ll be a win-win situation for both candidates and organizations.
Conclusion
There’s no denying that AI will keep on leaving its footprint on recruitment. Over the next 5 years, existing AI automation tools will keep advancing and new IoT features like AR/VR will keep on coming up.
Overall, AI will keep on changing the way businesses attract, hire, and retain top talent. Finding candidates that best fit your company’s culture and the job position you’re hiring for will become easier and quicker.
AI isn’t going anywhere. If anything, it will be coming closer and closer. Not adapting to this trend can leave your company behind your competition. So, start learning about the benefits of AI in hiring processes and adopt the right tools that will help you find the right talent.
The post AI in Recruiting: What to Expect in the Next 5 Years appeared first on Datafloq.
