Artificial Intelligence is a growing "buzzword" in tech, with possible implications for HR.
“To AI or not to AI”, a play on Shakespeare age-old adage, is making waves into today’s’ teched-up world as many industries are looking into AI solutions for their businesses, especially when it comes to human resources.
Due to the ‘Hollywood’ driven concept of AI, many organizations are scared of letting a non-human entity handle certain procedures of business, but the day when AI robots could possibly take over the world is far from today. Having an untold potential in the increase of efficiency, partnered with a cost-effective solution, does it not only make sense to adapt to the modern world, but to use the benefits of AI for your businesses recruitment needs, or your needs in general? Is it the right choice for your business? Here is what you need to know in order to answer that question.
AI means reduced recruiting timelines
The time of spending hundreds of man-hours filtering through thousands of CVs and online job-board profiles for new employees is coming to an end. For example, ideally, a company, specializing in AI recruiting services, claims on their blog and estimates their AI candidate sourcing algorithm can “reduce time to hire from 34 days to 9 days”. This is a 73.53% increase in candidate sourcing and on boarding efficiency utilizing a non-biased process that removes stereotypes from sourcing and finds candidates that are technically appropriate for the position.