Artificial intelligence (AI) is rapidly becoming an essential part of the hiring process, especially regarding large-scale or bulk hiring. With the help of AI, companies can streamline and automate many of the tasks involved in recruiting and selection, making the process more efficient and effective. In this blog, we’ll take a closer look at how AI is used in bulk hiring and some potential benefits it can offer.
Artificial intelligence (AI) is increasingly being used in hiring software, also known as applicant tracking system (ATS), to assist with recruitment and hiring. AI can automate various tasks, such as resume screening and candidate ranking, to help HR professionals more efficiently identify qualified candidates. AI is used in ATS through natural language processing (NLP) algorithms, which can analyse resumes and job descriptions to identify relevant skills and experience. AI can also be used to match candidates to job openings based on their skills and experience and to predict which candidates are most likely to be successful in a given role.
According to a survey conducted by the Society for Human Resource Management (SHRM), approximately 75% of organisations use some form of ATS. The use of ATS is more common among larger organisations, with 90% of organisations with more than 500 employees reporting the use of ATS, compared to 60% of organisations with fewer than 500 employees.
The use of ATS is expected to grow in the coming years. A report from MarketsandMarkets predicts that the global ATS market will reach $6.8 billion by 2024, up from $3.6 billion in 2019. This represents a compound annual growth rate of 11.4% over the forecast period.
One of the main ways that AI is used in bulk hiring is through chatbots and virtual assistants. These tools can be integrated into a company’s career website or job application portal, allowing candidates to interact easily with the hiring process and get answers to their questions. Chatbots can be programmed to answer common questions about the company, the job requirements, and the application process, freeing HR staff to focus on more complex tasks.
Artificial intelligence is used in bulk hiring through machine learning algorithms. These algorithms can analyse large amounts of data about candidates, including resumes, cover letters, and job application answers, to identify key skills and qualifications relevant to the job. This can help companies identify the best candidates for a particular role, even if they don’t necessarily have the traditional credentials or experience that might be expected.
Another benefit of using AI is that it can help to save time and resources. Automating certain tasks, such as resume screening and initial candidate interviews, can free up HR staff to focus on more important tasks, such as conducting in-depth interviews and making final hiring decisions. This can help companies to fill open positions more quickly and efficiently. By providing candidates with a more efficient and streamlined application process, companies can improve the perception of their brand and increase the likelihood of attracting top talent.
Of course, it’s important to note that AI does not replace human judgement and decision-making in the hiring process. While it can be a helpful tool, it’s still important for HR staff to review resumes and conduct interviews to ensure that the best candidates are being selected.
In conclusion, AI plays an increasingly important role in bulk hiring, helping companies streamline and automate many of the tasks involved in the recruiting and selection process. By using chatbots, machine learning algorithms, and other AI tools, companies can reduce bias, save time and resources, and improve the candidate experience. While AI should not replace human judgement, it can be a valuable tool in hiring, especially regarding large-scale or bulk hiring.
Originally Published at: https://medium.com/mlearning-ai/facts-about-artificial-intelligence-and-ats-in-bulk-hiring-acde112a6aeb
