What if we had a magic wand that could find the perfect candidate for any job? What if there was a machine with an unrivaled ability to match people and jobs? Well, as it turns out, such a thing does exist: artificial intelligence. Machine learning algorithms can be trained on vast amounts of data and used to predict which applicants will perform best in certain roles.
The following article discusses how machine learning recruiters are changing the way companies hire new employees.
They Expedite the Hiring Process
The traditional hiring process takes a significant amount of time and costs companies thousands in recruiting fees. Not only can machine learning recruiters take these two factors out of the equation, but they also allow for faster decision-making processes as well as lower hiring rates overall.
In fact, according to predictions from research firm Gartner, artificial intelligence will be used in at least one-third of all global organizations in 2022.
Who Currently Uses it?
Many companies are already using machine learning to recruit, including IBM Watson Talent and Lumiata. For example, instead of just looking for someone with a set list of requirements, they can find people who have the skills required for the job but may not necessarily have them listed on a resume.
Why it’s so Successful
Machine learning recruiters are so successful because they have the ability to take in much more information than a human recruiter. They can scan thousands of resumes, job listings, and social media profiles within minutes rather than hours or days.
They can also learn from past experiences as well as constantly being updated with new information — meaning their capabilities will only continue to improve over time.
Unlike human recruiters who must look for specific keywords in a resume, machine learning algorithms can scan thousands of resumes at once and find the best matches based on experience, skillset, personality traits, social media behavior — even facial recognition. This is much more effective than having someone go through hundreds or even thousands of resumes manually.