Not long ago imagining role of AI in recruitment was considered novel. Well, today, it is not. Interest in the field of AI recruiting technology is growing rapidly. Companies are investing into innovative technology solutions to become more efficient and productive.
With ever increasing interest in the field of AI, it would be good to get familiar with some of the most common terms in AI and how they are part of AI recruiting technology.
Artificial Intelligence (AI)
Artificial Intelligence is the umbrella term used to describe the ability of computer systems to mimic human mental capabilities like cognition, reasoning, problem-solving etc.
Although, people may consider AI as a tool that can automate mundane tasks, i feel that is not the most exciting part of AI. Today, when we talk about AI, we may want to refer to something like neural networks which can automate things when the inputs are not discrete.
Methods like machine learning, natural language processing, robotic process automation, deep leaning, etc are part of AI umbrella. Most of these methods gel together to work as AI recruiting technology.
Robotic Process Automation (RPA)
Robotic process automation is a way of automating mundane or routine tasks that have fix inputs and fix outputs.
If we have take an example of using robotic process automation in AI recruiting technology then it could be something like automated email reply or sending recruitment marketing emails to candidates. Recruiting software generally has these kind of features.
Natural Language Processing (NLP)
Natural Language Processing or NLP is the ability of computer program to understand human language as it is spoken or written. It is one of the fields within AI.
The study of NLP has been around for more than 50 years. It grew significantly in last few years with the rapid growth in computer technology.
NLP is the most important factor in AI recruiting technology suite. Basic role of NLP in the recruitment process is to understand the written text such as job descriptions and resumes. NLP is a great tool to screen resumes.
Another area where NLP can be of great help is in building chatbots. These chatbots can be useful in prescreening candidates in the recruitment and selection process.
More on Natural Language Processing here.
Machine Learning (ML)
Machine learning is the ability of the computer system to learn from data without being programmed for it. This may sounds like magic! Well, that’s the goal of AI.
Basically, you need to train your system using lots of data. And then that trained system uses such learning to predict outcome.
For example, let’s talk about talent acquisition process. Let’s say you feed all the resumes of candidates who were hired in last 6 months in your organization into a recruiting software. You may as well feed some extra information along. Extra information such notice period, salary expectations, etc. Let’s assume this recruiting software has machine learning capabilities. Now, this software would learn the kind of candidates you tried to hire in last 6 months. Going forward, based on these learnings, it will predict who are the most suitable candidates during recruitment and selection process.
Machine learning is the most interesting piece of AI recruiting technology. It can stack rank candidates for the jobs based on the kind of candidates your organization hires.
Read more on different types of machine learning methods and algorithm here.
Predictive analytics is a way of forecasting about future trends on the basis of information extracted from existing data sets. To gather such information it may use various methods like text analytics, data mining, predictive modeling. It then uses this information to find and forecast the trend.
As part of AI recruiting technology, predictive analytics can predict if a given candidate would accept an offer or if candidate would actually join the company after accepting an offer.
There are products that gather data from existing employees either via chatbots or using surveys or via some other sources to predict if employee would quit in the recent future. It is also useful for HR in measuring happiness quotient of employees.
Other than AI Recruiting Technology
If you have found above technologies interesting, you may as well read about neural networks, deep learning and statistical modeling.
You may also want to know about are HR Analytics, People analytics, Sentiment Analysis, etc.
Different AI methods are already in use for resume screening, video interviews, candidate sourcing, personalized communication, etc. Be it staffing company, recruitment agency, SMB or a startup; AI is helping recruiters and hiring managers at every stage of recruitment process. It can source qualified candidates from various platforms. It can screen thousands of resumes in matter of few seconds and much more.