If you are looking for an answer to the question What is Artificial Intelligence? and you only have a minute, then here's the definition the Association for the Advancement of Artificial Intelligence offers on its home page: "the scientific understanding of the mechanisms underlying thought and intelligent behavior and their embodiment in machines."
However, if you are fortunate enough to have more than a minute, then please get ready to embark upon an exciting journey exploring AI (but beware, it could last a lifetime) …
In my opinion, Google For Jobs will probably become a game changer over the next year. Google rolled it out in the US and then they were very careful to assess its impact before rolling out to other territories. It takes time for job searchers to change their job searching habits, and Google will know this as they inevitably wait for the impact they hope it will have on the market, as searchers move away from big job boards such as Indeed and Monster (unless they seriously grow their marketing budgets to ensure they stay in public consciousness), and directly go to Google for the most suitable collection of jobs. Don't be shocked to see the tool being used in conjunction with paid ads for jobs though in 2019. The search giant does nothing unless it grows their bottom line through ads.
Talent acquisition has always been a vital area for HR teams. With skills shortage on the rise and a diverse global candidate pool, AI can link the brightest mind to the most fitting roles. We share five disruptive startups in this exciting landscape. Several studies and research reports have shown that acquiring good talent is among the top three challenges for HR managers. Despite increasing investments in hiring across 2018 - a substantial increase from last year - companies still struggle to find highly skilled, top-tier candidates across job roles.
As technology develops at a seemingly exponential rate, the potential for radical transformation in the workplace might seem a dizzying prospect. HR managers need continually to be flexible in adapting to new situations, and keeping on top of emerging trends. We HR managers need always to be asking: 'How can I redefine the role of HR in this organisation so that I'm adding value?' Here are the top six talent management trends for 2018 and beyond, to help spark your imagination in the process. More people are more plugged-in to their work more of the time, so there's an increasing emphasis on the employee experience.
The future of HR is both digital and human as HR leaders focus on optimizing the combination of human and automated work. This is driving a new priority for HR: one which requires leaders and teams to develop a fluency in artificial intelligence while they re-imagine HR to be more personal, human and intuitive. As we enter 2019, it's the combination of AI and human intelligence that will transform work and workers as we know it. For many companies the first pilots of artificial intelligence are in talent acquisition, as this is the area where companies see significant, measurable, and immediate results in reducing time to hire, increasing productivity for recruiters, and delivering an enhanced candidate experience that is seamless, simple, and intuitive. One company that has delivered on this is DBS Bank.
Despite working in the human resources for over eight years for some of the top organizations in Canada, I have been somewhat blind to the future of work being driven by automation and artificial intelligence (AI). That is, until I read the 2018 Future of Jobs report by World Economic Forum. According to that report, 50% of companies expect that by 2022, their full-time workforce will be somewhat reduced by automation. It is alarming to note that nearly a quarter of these companies are undecided or unlikely to retrain their existing employees and two-thirds expect workers to retrain themselves. This expectation raises an important question of how employees could know which new jobs they should retrain for when these jobs have not yet been created.
It's the buzzword that's taken over most human resources (HR) conferences. Back home, the 2018 SHRM HR Tech Conference, held in Hyderabad in April, saw key sessions on how AI is going to be a driving force in HR functions. Their next conference in Chicago, held in June, had sessions on how to use AI to better understand employees. AI, or the ability of machines to imitate the human mind, is invading the workplace. The aim is to recruit staff, improve employee engagement, reduce bias and enhance productivity.
The essence of every company's revenue growth plan is based on how well they attract, nurture, hire, grow and challenge the best employees they can find. Often relying on manual techniques and systems decades old, companies are struggling to find the right employees to help them grow. Anyone who has hired and managed people can appreciate the upside potential of talent management today. Strip away the hype swirling around AI in talent management and what's left is the urgent, unmet needs companies have for greater contextual intelligence and knowledge about every phase of talent management. Many CEOs are also making greater diversity and inclusion their highest priority.
Unemployment in the United States is at its lowest rate (3.7 percent) in nearly 50 years. Yet, while this indicates the positive state of our economy, it also indicates major labor shortages across some of the country's biggest sectors, including construction, retail, hospitality, manufacturing and health care. Related: Is Artificial Intelligence Replacing Your Intelligence? And with 60 percent of employers surveyed by CareerBuilder saying they're struggling to fill vacancies within a 12-week time span or even longer, our tight laor market is a costly problem that needs to be solved, fast. With many of these industries experiencing a boom, in particular the construction sector, it's not uncommon for businesses to find they are unable to staff their teams well enough to keep up with the expansion.
"This is pure corporate laziness," wrote Craig Picken, an executive recruiter based in Wilmington, N.C., who on LinkedIn called the process "D-U-M-B." "Did you hear that?" added Keith Campagna, an Allentown, Penn., regional sales manager for recruiting software company Jobvite. "That was the sound of a whole bunch of well-qualified, passive workers hanging up. Because recruitment is inherently a human process." Companies say they have reason to rethink how they hire now.