Our country is undergoing transformation as many large conglomerates are entering varied sectors in India. In the current scenario, not only quantities but quality also merits the employment procedures today. All departments including the Human Resource (HR) have been experiencing significant changes with the evolution of Information Technology in the last two decades.
Artificial Intelligence (AI) in HR is encompassed to being better informed and strategize people’s decision. Though AI is not perfect, it can be institutionalized by a biased or incorrect set of assumptions. AI is a vigilant job it equally takes professional training and monitoring to work well. AI is not solely an automated job too, even social networking companies need human intervention to train their systems at some point.
Although artificial intelligence and machine learning are well on the way to lending a helping hand when it comes to solving the problems of human capital management, yet in India recruitment is one of the toughest businesses to do. The data bank maintained by the HR departments of corporates are also not effectively managed in most of the companies, since they have multiple different systems and processes to manage data and hence cannot be analysed at one glance. AI on the other hand, makes data analysis much easier and a simpler process.
Artificial Intelligence can be potentially used to accelerate and assist human efforts and help managing HR processes more effectively. AI can be utilized right from candidate acquisition, scanning resumes, bettering employee engagement, answering real-time questions to closing the requirement raised by the client.
Machine learning and AI capabilities can and are reshaping recruiting, learning, performance management, and a complete analysis of every other dimension for a complete satisfactory experience. Additionally, it is likely that leaders will look at AI as “just another technology” to implement. However, organizations today are adopting changes in the way people work and interact with their capabilities and how do they stand differently to achieve outpaced value creation.
Today, the biggest challenge faced by the HR department or recruitment agencies today is to screen resumes and compliment talent acquisition. AI in short reduces the effort and helps manage data for recruitment function. It helps in streamlining and automation of some part of the recruiting workflow, especially repetitive, high-volume tasks. Screening tends to rely on resumes which are both an indirect indicator of a person’s skills and an incomplete picture of their achievements and capabilities.
While HR departments in the companies and recruitment firms have increasing amount of data it is easier to be maintained through AI. This in-turn will help them to identify the best fit for each position vis-à-vis the matrix from the past based on standardized resumes and (potentially biased) interviewers’ opinions, and because of which the companies are laid back in all manners today. AI is helping to fill up the gaps and to make the process faster with adequate value addition.
Recruitment is a two-sided market where high value is created in very discrete time intervals. The promise of AI for improving quality of hire lies in its ability to use data to standardize the matching between candidates’ experience, knowledge, and skills and the requirements of the job.
Employer-based parameters will be used in the matching process encompassing experience, skills, expected salary, education, internships or any other desired requirement. Employers and HR departments can then discern if the potential candidate provides the expected value to the company.Intelligent digital recruiters can source candidates from anywhere in the world and with that ability comes the added responsibility of cultural diversity within companies. An AI tool can assist with determining if a candidate will be a good cultural fit within any organization and represent the company’s goals and reputation.