Artificial Intelligence promises to find that perfect job for you in just about 45 days
Nazia BijalOct 24, 2016, 01.32 PM
Read full story
On an average today it takes a job seeker more than 130 days to land a job through existent
As the world moves into the Autonomous Era algorithms and
The algorithms are far more sophisticated than searching CVs for keywords and have already reached an auto match accuracy in excess of 75% i.e. algorithms can read resumes and job description almost like a human and automatically match them in order of their fitment. So these self-learning algorithms will read all the
Some of the Global corporations have already been using AI based recruitment process for over a year with great results but Indian companies are still taking time to take the AI powered hiring route, while the buzz around AI is much higher now but the actual adoption of the technology is a non starter as of now as companies like Spire TalentSHIP take anything between 6-9 months to register a sale despite an assurance of break-even in a year. “Future use of AI in recruitment in Indian companies is not a matter of choice but a matter of time. As we envisage it is about ‘Universe Of ONE’ where there will be all organizations dipping into a common pool of employees, contingents, consultants & free lancers who will trade their skills & time for commercial considerations. Somewhat like a ‘Talent Exchange’ where all employees and all employers can interact, access and trade with time & skills with each other”, says Neeraj.
These 24 x 7 machines can help companies run a sophisticated search for the right candidate for the job, enable businesses to cut short the time taken to hire the right candidate, and eliminate hiring cost that can go higher than Rs. 75000 per hire.
The new and speedy process will simplify the life of HR managers by making rhetoric repetitive tasks like reading massive amount of resumes, completely redundant. Also the process can eliminate biases as machines are hardly likely to let personal prejudices get in the way.
However, humans will always need to be a part of the hiring process given the huge value human beings can bring to the interview table in terms of measuring behavior, attitude, cultural-fit and personality resonance all of which are extremely important for making the candidate perfect for your company.