In recent years, artificial intelligence has gone from being mainly an area of theory and experimentation to having a very real impact in the world of business. Organizations are finding myriad ways to take advantage of the capacity for analyzing huge quantities of data. In this way, leaders have the awareness to anticipate developments before they happen and make better decisions.
The resources and strategies to leverage AI are becoming increasingly vital parts of competing in the global marketplace. Recruiters and other staffing professionals give themselves a major advantage by taking note of these changes and acting to update their processes. Here’s three ways to make that possible:
1. Understanding artificial intelligence
When people think about AI, they often envision self-aware robots and computer systems on spaceships. The reality is that what defines AI is the capacity to draw on vast amounts of information to make rational decisions. Researchers have investigated numerous methods to create systems focused on pursuits such as minimizing risk, processing language or coming to logical conclusions based on complex data.
“AI draws on vast amounts of information to make rational decisions.”
Among the most useful of these approaches are machine-augmented decision making and machine learning. Augmented decision making is devoted to finding ways to efficiently sort through relevant data in order to arrive at fresh insights and allow human users to make better calls as they move forward. Machine learning, in which computers employ algorithms to detect patterns and then adjust their behavior in response, plays an important role in leading to those smarter decisions.
AI can take on many forms and have countless applications, whether in science, entertainment or on the job. As the Economist explained, the expanding possibilities of this technology have inspired entrepreneurs and also made some question how it will alter the need for human workers. With the ability to solve equations that would stump humans and pick out patterns from huge fields of data, AI is growing into an essential tool for a wide range of fields.
2. Make AI work
The applications for AI are as diverse as the organizations that have adopted these solutions. Some of the best-known innovations include driverless cars and assistance for physicians. However, powerful technology can also do a great deal to simplify and expedite less spectacular – but necessary – pursuits.
For instance, as Forbes noted, virtual assistants and chatbots provide instant answers for customers, even in situations where human representatives are overwhelmed by phone calls and emails. Machine learning systems can predict the demand for a commodity ahead of time or calculate risk for financial service providers.
One of the most fruitful areas for AI in business has been sales, TechCrunch reported. Armed with sophisticated data analysis, representatives are able to work efficiently and have more productive interactions every day. Natural language processing and generation even make it possible for AI to conduct the initial contact with sales leads.
3. Harnessing AI to engage job applicants
Staffing and hiring is another field poised for transformation as a result of machine learning and augmented decision making. However, when it comes to recruitment for small and mid-sized organizations, AI must function differently than it does for massive operations. For one thing, there’s a big difference in the amount of information available. The AI must focus in on a relatively small database of potential employees for any individual company or staffing agency.
Still, that analysis is an extremely powerful tool in a competitive job market where agencies and hiring managers must seize any opportunity to find individuals with the right skills and experience. When integrated into an applicant tracking system, AI has enormous potential for bolstering recruitment efforts and engaging these high-quality candidates. Pulling from variables such as a candidate’s visits to the job site, entries on an application and time to respond to messages, the system would be able to determine which individuals need more attention.
These uses are just the beginning for AI in hiring and placement, and further advances could well be on their way. A recruitment software solution like Jobscience works through a great deal of data, which could be productively explored through regression analysis. By detecting patterns across tremendous swathes of information, the system could estimate the interest applicants will have in an open position or suggest whether someone is likely to be retained in a particular job.
Jobscience is exploring other ways machine-augmented decision making could allow staffing agencies to work faster and more effectively. Taking on time-consuming duties such as database maintenance, systems may open up more time for staffing professionals to focus on communicating with candidates and employers. However this technology may develop over time, it’s clear that recruiters will give themselves a leg up by choosing staffing software that incorporates the latest advances to optimize candidate sourcing and engagement.