Artificial intelligence has the potential to dramatically change the HR industry. According to the research conducted by Research and Market, the share of the Global Artificial Intelligence in the HR Market is forecasted to grow from USD 3.89 Bn in 2022 to USD 17.61 Bn by 2027, growing at a CAGR of 35.26%. Companies are likely to prioritize investments in AI to optimize business processes and reduce costs.

As a business leader or HR professional, you have likely already noticed the ongoing rise of AI technology in our workplaces. AI is revolutionizing the recruitment process and making it faster, more efficient, and more effective than ever before. From sourcing talented candidates to simplifying the onboarding experience, modern recruiting teams are leveraging the power of Artificial Intelligence for recruiting success. In this article we will explore the opportunities that AI unlocks for a successful recruitment process, highlighting some AI-powered tools available to Human Resources teams today.

Let’s start!

How Artificial Intelligence Is Used In HR?​

Human resources (HR) departments have been increasingly making use of artificial intelligence (AI) technology over the past few years, as they look to create more efficient and effective solutions to the usual problems HR faces. 
The following are ways that you can expect to see AI impact HR.

• Automation of various tasks.

AI has allowed for the automation of administrative tasks such as parsing CVs, setting reminders, providing data, and tracking key HR metrics. 

• Recruiting and onboarding 

Recruiting efforts will also be boosted with the help of AI-driven Applicant Tracking Systems (ATS) that are equipped with natural language processing capabilities, which save time and ensure fewer errors when it comes to selecting eligible candidates.

• Engagement 

Lastly, since AI enables companies to identify and hire an employee that matches an open role it is necessary to help him/her integrate into the company’s workflow. AI enables companies to get reliable insights into employee engagement feedback as well as trends in company culture. This is meant to help boost the company’s retention. 

Benefits And Use Cases Of AI Recruiting Software​

Human resources teams receive multiple resumes for one highly desirable corporate job opening. Every candidate’s resume needs to be analyzed and sorted out by the hiring manager. Other times we might receive CVs that are not exactly what we need. Could we train some of these people to fill in the vacancy?
AI can be a great add-on for every step of the candidate screening process. 

Here are a few examples of how HR teams could benefit from using AI-powered tools.

• Powerful AI systems help screen and evaluate resumes, saving recruiters time when making sure a candidate fits within the criteria for a role.
    
• During the pre-screening stage HR managers can set up video interviews to get insights into a candidate’s characteristics and personality. Additionally, tech screening can be used to assess practical skills through a range of methods.
• AI can automate sourcing across multiple databases, simplifying the search process for employers and returning efficient lists of possible candidates with recommended levels of suitability. AI advances ATS capabilities and can reach out to qualified potential applicants even if they did not fit the position before due to specific circumstances that have since changed.
• Hiring processes can further be streamlined by using AI to automate scheduling tasks between different stages while allowing managers to keep an eye on all interviews happening in real-time.
• Cut off human biases. It can potentially reduce human bias in hiring decisions by removing tendencies that could favor certain individuals over others. Eliminating human biases in hiring decisions is a challenging yet critical task. Doing so can help to make sure that the most suitable applicants are given the opportunity to move forward in the recruitment process.
• Boost learning. With the increased use of AI in the hiring process, potential employees can receive tailored feedback to help them reach their best performance. After releasing a job announcement, companies can take advantage of AI to better recognize and analyze an applicant’s personal data which helps define their strong and weak sides. Further, AI can offer actionable advice candidates can use both during the hiring process and beyond. Moreover, managers can also use AI-enabled systems to provide personalized coaching to improve employee performance – something which was formerly a difficult task on its own. This combination of machine learning capabilities and human expertise can result in a far more effective way of managing successful employees’ growth.
• Improving data analytics. AI is also helping with improved workforce data and analytics so that companies get a deeper understanding of their broader corporate landscape.

Together, these advantages show how leveraging AI in your hiring strategy leads to huge time savings as well as greater accuracy in finding the right applicant for any role.

Pitfalls You Need To Be Aware Of​

Every technology has its strong and weak sides. AI recruiting tools are not an exception and also have their downsides and dangers. 

• One of the main drawbacks to using AI in the recruitment process is that it cannot work without human-agent supervision. AI is simply an exoskeleton for human beings. When it goes about decision making it requires a human to guide it and explain its decisions.  
  
  

• AI learns from the data we feed it. Therefore, if an AI recruitment tool was trained on biased data it will act accordingly. Therefore, high-quality training data is crucial in order to develop an accurate and high-level performance tool. In this case, human sanity-check interventions may be necessary when rolling out new technologies.
  
  
• AI lacks the capability to understand a person beyond what is written in a resume. As a result, companies might miss potentially good candidates. Hence, human-to-human interaction remains critical during recruitment processes.