Tom, a recent job candidate, had no idea how prevalent artificial intelligence (AI) had become until he was deep into his job search. Even though he wondered at times what he could do to get his résumé in front of more live hiring leaders, bots that he had encountered were making the application process faster and surprisingly fun. It's great news for employers, as HR experts are constantly looking for new technology to increase productivity and improve the candidate experience. According to a Korn Ferry Global survey, of the nearly 800 HR professionals surveyed, 63% said that AI has already changed the way recruiting is done today. Let's take a look at a few successful AI implementations and see how job seekers can keep up with evolving technology.
On a sleepy Saturday morning, you grab your laptop and spend two hours applying to your dream job. It's worth the extra cup of coffee because you like this role and company enough to ignore the annoyance of a long application. Finally, you submit your application. An instant later, you receive a reply in your inbox. "We regret to inform you that, after careful review, you are no longer being considered for this role."
When asked if they add value to their clients and candidates, most recruiters would say "of course." Talking about it further, it soon becomes apparent that their response is based on a successful placement being made. After all, isn't that the value both clients and candidates are looking for? Of course, this could be a measure, but I believe that to be more of a transactional value. With the rise of Artificial Intelligence, I strongly believe that both clients and candidates are going to want to work with those recruiters that are able to add value beyond the actual placement.
AI is projected to catapult from a $643.7 million market today to $36.8 billion by 2025. Bersin by Deloitte calls it one of the ten major trends changing everything about how we build and manage the world of work. It's becoming an incredibly powerful tool for recruiting, though not always understood. Before delving into specifics, consider this: Essentially, if A, then B. Just as AI is changing the game, we have to change how we see it: it's a tool with multiple benefits at once. In other words: if we are better at sourcing the talent to find those with the right skills to match the right job opening, then the candidate experience will be better.