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Instructor
Greg Chartier
It would take weeks to gather and analyze the same quantity of data manually that AI processes can accomplish in seconds. In today's fast-moving business environment, speed is critical for the following reasons:
Artificial intelligence comes in narrow and strong levels, but most AI systems can be classified in three categories: voice recognition, bots and algorithms. There are actually many kinds of artificial intelligence that can range from calculating auto immune system performance to automating physical systems, but the three major areas that concern HR are voice recognition, robot automation and algorithms.
Voice Recognition
This type of AI can convert text into words and vice versa, search Internet sites, videos, podcasts and broadcasts for key phrases and subjects and deliver the information automatically to other analytic programs and on-demand in the preferred format of speech or text.
Bots
The major search engines employ bots to search the Internet for keyword phrases. The usefulness of bots extends to learning, chatting, asking questions, giving directions, recalculating routes and other useful functions. Car navigation systems typically use these artificial intelligence systems.
AI Algorithms
AI algorithms are step-by-step instructions that guide AI functions. Sophisticated algorithms can be set to automate many HR functions such as gathering business intelligence, disseminating information to the right stakeholders, monitoring key performance benchmarks and tracking outside interests and social media activity of employees and recruitment prospects.
Data collection is critical for HR, and AI software can automate complex tasks such as gathering information from multiple contact points, segregating employees and HR problems into profiles and training teams to use data to the fullest potential. The HR benefits of artificial intelligence are many and varied.
Any organization is only as good as its people, and every business big or small, local or global is beginning to appreciate this reality, especially after the recent surge in post-pandemic employee turnovers.
The trend of employees leaving their jobs, coupled with the digital disruption of the workforce, has forced organizations not equipped with the tools and resources needed to fulfill their HR and recruitment needs to turn to technology for help.
According to Fortune Business Insights, the global human resource technology market is projected to grow from $24.04 billion in 2021 to $35.68 billion in 2028, and companies are likely to prioritize investments in AI to optimize business processes and reduce costs.
How HR adapt to AI tools and how they will use it is the focus of this webinar.
First and foremost, AI can add immediate value to the HR and recruitment processes by predicting talent needs within a company or a specific department something we do not tend to think of when considering AI.
Once the talent needs have been identified, AI can help source potential candidates through AI-generated custom advertisements that help target the right candidate pools from across the web. Besides adding new levels of efficiency to the search process, AI systems also do a much better job of tracking candidates, unlike traditional manual processes.
AI can also aid in the hiring process through automated application tracking tools and resume scoring and ranking. The technology can also significantly reduce a recruiter's time in reviewing nontechnical aspects of candidates, such as communication skills, through the use of virtual reality-based dialogue systems or virtual recruiters.
In some cases, AI can also aid in the assessment of technical skills with the use of automated systems designed to score certain types of coding exams or simulate real-life work environments to enable hiring candidates remotely.