The lifeline of any successful organization is their workforce and their knack of keeping an updated talent pool. As the unstructured data grows, so does the dynamics of recruiting and hiring process.
AI, now more than ever is playing a significant role in the way the business processes are run. In relation to HR, it helps in automating bookkeeping and various other repetitive interview processes like scheduling, sourcing etc.
There are AI-powered tools in the market which combines digital video with predictive analytics, and eventually, speed up the time to hire without compromising on the quality of hire. Companies like to observe. AI, use video interviews to create multiple data points on facial expressions, choice of words and intonation to assess the candidate.
The application tracking system software leverages AI capabilities to automate candidate screening and decrease the cost per hire and augments recruiter’s efficiency manifold, letting them focus on candidate engagement and brand building. AI through machine learning algorithms predicts the success of a prospective candidate by comparing their metrics with the qualification to success ratio pattern model, built from a large amount of sourced data of successful employees, and grades the candidates who match the criteria. This reduces bias during the screening process making the hiring process more transparent and seamless.
A chatbot is another AI driven technology which uses NLP to interacts with the users over text through websites or any other integrated platform to provide clients with a conversational experience from any device and in their own language. Chatbots use NLP to engage with the customers in real time in a dialogue very similar to a human interaction.
The advancements of AI have led to an unbiased and a fast track fit to hire process. The capabilities of AI have resulted in a taut hiring strategy, driven by real-time data and predictive models based on machine learning algorithms. The accuracy of hiring has helped in mitigating the cost associated with high turnover and rehiring.