Artificial intelligence (AI) can increase company efficiencies and help human resources reduce recruiting timelines if employed effectively, says Barbara Van Pay, CEO of SmartHR. An AI sourcing algorithm, for example, can “reduce time to hire from 34 days to 9 days.” That represents a 73.53 percent increase in candidate sourcing and onboarding efficiency via a non-biased process that eliminates stereotypes from sourcing and identifies candidates who are technically suited for the position. Van Pay says candidate screening is another part of human resources that can be automated through AI by collecting more data from online job records, social media profiles, and other resources to enhance the ranking system of candidates. AI interviewing software is also working toward simplifying the process by using video, she says. For example, a company could send preset questionnaires to candidates who then film themselves answering the questions. This enables the recruiter to generically interview a greater number of possible candidates through pre-recorded videos, which can then be sifted through to select individuals who will progress in the talent acquisition process. With the automation of these processes using AI, talent acquisition teams can engage with prospective candidates and determine their ability to succeed in the specific role-and inevitably make a placement much faster. Richard Hughes, Senior Vice President at UnitedHealth Group, says, “The future is going to be centered on the employee experience and taking engagement down to the individual level. There is no way we can do that on any scale without applying the best that ‘data science’ has to offer.”
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