There is a wealth of information and articles on the Web about Artificial Intelligence, automation, saving time and money, and creating business impact. Ecentra reports that 81% of companies embracing artificial intelligence saw growth of over 10%, and more than half had growth of over 20%. Thanks to Artificial Intelligence (AI), a revolution in staffing, talent acquisition, recruiting, and work has occurred. Technology is now more than just where companies store data or transact. It is the intelligent system that interacts and engages the candidates.
Hirect conducted an exciting live panel discussion #HumansOfHiring on our LinkedIn Page with two innovative professionals in the field, Pritesh Malode and Aditya Pal Singh, to help their audience to better comprehend the evolution of AI in talent acquisition and its impact on scouting potential hires. This blog highlights their opinions on the advancement of talent acquisition and the rise of AI in talent acquisition to define a dynamic workforce.Related blog: How to Leverage AI for Remote Hiring?
Artificial Intelligence(AI) and Machine Learning(ML)- The Future of Recruitment
Aditya Pal Singh, the Director Head Talent Acquisition of Informatica, begins the webinar by sharing his views on AI and ML's role in hiring or sourcing profiles. With the help of Natural Language Processing, a part of ML, resume matching becomes easier for the students providing an unbiased approach to hiring. Meanwhile, he also vouches for the data-driven hiring process as it helps the hiring managers with the intelligence to know where they should hire from or where their top talent would be coming from.
Meanwhile, speaking on the same topic, Pritesh Malode, the Director of Talent Acquisition in Engg & Tech at BYJU'S, goes on to add that augmented intelligence has sped up the entire process and freed up the recruiter's time so that they can quickly build a relationship with the candidates and provide them with good experience. He further stresses the two essential hiring metrics- the "time to hire" and the "quality of hire". AI/ML, he believes, will augment the employer's recruitment efforts.
Modifications in Talent Acquisition Processes During the Past Decade
Talking about the Talent Acquisition Processes changes over the past decade, Aditya reasserts that Talent Acquisition has seen a lot of change in the last 2 - 3 years compared to the past decade. Here, the quality of hire plays an essential part in talent acquisition, and the output has become more tangible. It's more of an employee-led market than an employer-led market. Employer Branding and Data analytics also play an integral role in the current scenario from the talent acquisition standpoint. The bottom line is that talent acquisition impacts a company's growth, and hiring quality talent thus becomes increasingly important. While altering the way processes run, digitalization is expected to become a more integral part of businesses.
The discussion elaborates on the aspects recruiters should pay more attention to because of the changing TA processes. Pritesh discusses the considerable emphasis on social media and the vast awareness of employer feedback. He says that when every employer strives to be the best, the launch of social media tools like Whatsapp has increased the Recruiter's ability to reach out to the candidates. Recruiters are expected to be on their toes, as speed, agility, data, and data analysis have taken centre stage in helping the recruiters understand if the particular process is working well.
Related article: What do You Need to Know About SAAS Recruitment Software?
Impact of AI on Unconscious Bias of Hiring
According to the speaker, Aditya, people have realized the need to rise above these biases in the last couple of years. Whereas earlier Job descriptions had "HE" as the default pronoun, now there are tools in the market that will enable the companies or HRs to create gender-neutral job descriptions to facilitate inclusivity. He adds that using technology, coding tests, hackathons, and masked interviews has aided an unbiased hiring perspective from a technology standpoint.
However, Pritesh believes that Biases still do exist. Nevertheless, he adds that technology has helped reduce the inherent biases in our lives. "AI is a system that is learning. So to neutralize those things, companies need to change the way they look at profiles. Recruiters can follow the Blind Hiring, which is in trend these days. Blind Hiring masks all the information that could lead to bias".
He further elucidates how there is still much room for improvement in being an unbiased system. He concludes the webinar by confirming a realization within the leadership organization and teams that a biased approach doesn't work, and they're seeing the fruits of diversity. But, it needs a lot of conscious effort from leadership and recruiters to change the scenario.