What is Artificial Intelligence?
Artificial Intelligence is a branch of Computer Science that builds smart machines which are capable of performing tasks that require human intelligence.
Norvig and Russell have explained four approaches that define AI:
- Thinking humanly
- Thinking rationally
- Acting humanly
- Acting rationally
The impact of computers, digital machines and the explosion of artificial intelligence in the use of the workforce has taken over in every aspect of humans’ lives, even in their job hunt. This is because AI has broken the bottleneck of human efficiency, repetitive work, and intensifies work efficiency. Artificial Intelligence technology works well in small scale industries and also in big organizations.
Looking for a new job can be a job in itself. It comes with a series of tasks such as updating the resume, browsing career portals, networking with friends and acquaintances. This entire process can sometimes lead to anxiety. The job search through AI in the future is going to be completely different, with technology doing most of the critical things.
AI has already become a crucial part in the recruitment process. Moreover, it is turning up as a significant HR technology with the aim of reducing all the time consuming and manual activities such as resume screening. Organizations have started using this technology for the recruitment process, that includes hiring decisions and contemplating whether the candidate is fit for the company or not.
AI works on the data collected from the previous applications. It has all the efficiency to eliminate the effort that the recruiters need to put in to make a hire. Searching and hiring new employees as per the organizational needs is an expensive venture. AI can be an efficient and effective approach to bring in valuable and skilled employees onboard.
Today we have different types of online portals and applications that help applicants to improvise their resumes and apply for jobs that suit them as per their skill set. Additionally, this technology provides improved job search to the candidates.
How AI can be used for Recruiters and HR Teams?
As per reports, most of the talent acquisition teams’ biggest challenge is to screen the resumes effectively. Applying AI in the recruitment process helps the hiring managers to streamline and automate the high volume and repetitive tasks. Resume screening is the most time consuming section of recruitment. Most of the cases are unqualified.
However, AI has a prominent role to play in the future of recruitment, improving the quality of hiring because it uses data to standardize the matches between candidates’ experience, knowledge, job requirements, and skills. As compared to humans, AI and machine learning can enable thousands of applicants to process in a shorter period of time.
With the help of robots in the recruitment process, it’s become easier for the HR teams. For example, Tengai, a robot in Sweden conducts unbiased job interviews in the most efficient way. Recruiting software is also a productive tool for Recruiters and HR Teams just like billing software works for accounting professionals. These Artificial Intelligence tools can make the tasks much easier for them in the recruiting process.
Concisely AI promises to bring an enhanced and improved hiring process for the job hunting professionals and for the hiring companies hiring. The technology is lucrative and focuses on efficiency. It frees up the hiring managers from all the manual work allowing them to focus more on agile work, getting to know the best applicants and make firm decisions based on that,
Impact of AI on recruiting
Many softwares already have the features that help streamline the work for recruiters. Let’s see how AI can have an impact on the recruitment process.
Talent Scouts look for certain skill sets and profiles while screening resumes. The correct hiring software scans and picks out the words i.e keywords that are related to the profile. This keyword feature saves a lot of time for the recruiters by freeing them from the manual, tedious and repetitive work going through each and every candidate’s resume.
This is the initial stage where the resumes are screened. However, recruiters just cannot rely on the keywords. What if some candidate failed to mention or use a specific term in their resume, this does not mean that they are not qualified.
Reasons why AI will create more jobs
It is often heard that AI will replace all the jobs. It is true that it will replace manual human work, but it will also create a huge number of jobs in future. Let’s see how:
- International Employment: Organizations that successfully implement AI will be able to generate more money for their business. Moreover, they will have higher wages, advanced technologies and increased efficiency. With such huge success, organizations will have their reach worldwide. This, in turn will require a global workforce that would generate ample amounts of job opportunities.
Online businesses are also increasing worldwide. So If you want to start an online business then Gst registration is mandatory. You will get the tax identity as per the Gst state code of business information. Once you get all the tasks set for your business then you can start exploring the Artificial Intelligence recruiting process. Hire the right people and scale your online presence.
- Contribution of AI in Marketing and Sales: AI has already started playing an important role in the areas of marketing and sales. With the development of high tech smart databases, AI helps to build effective and large scale sales forces. Some of the tools such as Zendesk and Salesforce have already started using AI to develop intuitions that can help companies to recruit and hire the required sales person for the job.
- AI will create new Job Profiles: According to a report by the World Economic Forum, it is estimated that 50% of companies working full time will shrink in the few coming years. As AI will eliminate most of the jobs, there will be demand for new positions. Humans will be needed for AI to function properly. They can work on it, manage it, and improve the functionalities. The new job positions will require different skill sets for managing this technology.
- Contribution of AI in Education: The education department is shifting towards digitalization and e-learning. Smart content, smart learning, e-learning and personalized training depend entirely on AI. In the coming years, the entire education system might become digitally driven by AI. Some news indicates that usage of AI in education will increase by 47.5% by 2021. To facilitate this growth, skilled and potential AI experts are needed. Hence, creating more number of jobs.
- Contribution of AI in Financial Services: Financial bodies such as banks, require engineers to create robust systems that can identify frauds. They have already started using machine learning to monitor transactions and keep track of all the activities. In the financial sector, the job requirements are very positive as there is already a high demand for skilled professionals.
- Contribution of AI in Transportation: Transportation has already been automated through AI on a large scale. Organizations such as Google and Uber have invested millions of dollars into AI driven transportation such as cars and self driving cars, trucks, etc. This mode will be the future in the coming years. AI driven transportation is going to be lucrative and going to create plenty of job opportunities. Not to mention, for the skilled candidates.
- Contribution of AI in Digital Assistants: We already have advanced digital assistants like Siri, Google Assistant, Alexa and Bixby that are getting smarter day by day. IT giants such as Google, Amazon and Samsung put in billions of dollars in research and development for digital assistants to perform multiplex tasks. As more jobs will be created to bring innovation in the digital assistants, this industry is going to make a fortune in the coming years. As a result, a large number of jobs will be created in this area.
- Contribution of AI in Healthcare: AI applications have a huge scope in the healthcare industry. PwC has estimated that AI would be one of the biggest successes for the healthcare industry where the job opportunities would increase by 1 million. In the coming years AI powered healthcare services will be available at a large scale. Hence, the demand and requirements of AI assisted healthcare jobs will increase.
- Contribution of AI in the Entertainment Industry: Everyone has started using Netflix, Amazon Prime, Spotify on a huge scale. These streaming service companies are already using the technology of AI. By identifying the customer’s activity patterns and behaviour, the algorithms help in recommending content that matches and suits with the consumer’s preferences. Such streaming platforms have created an uproar in the entertainment industry. They are used on a very large scale, and in the coming years, this scale will be bigger than this. The industry will therefore need a huge skilled workforce to maintain and fulfill the requirements.
- Contribution of AI in Robotics and Hybrid Teams: The area of robotics is in the initial phase. The world already has robots that can think and act as humans do. And this area is yet to see a massive growth in the next few years. AI based robots are gaining huge significance worldwide. Robots such as fully automated drones, stationary robots, land robots, etc that help the business to run are in huge demand. To fulfill these requirements a lot of jobs for AI robotics engineer is going to be in demand
It is expected that teams might have a blend of humans and AI robots to create a hybrid team. AI driven robots are super efficient in speed, computation, accuracy, and optimality. While humans have strengths such as judgement, empathy, and sense of feelings. Such teams can be very effective for the business to generate effective outcomes.