Artificial Intelligence (AI) is 2018’s hot topic not just in HR, not just in global business, but for millions of people around the world. More consumers will experience AI when they buy as 30% of companies globally are projected to use AI in their sales process within the next two years. Revenue in the AI software market could reach nearly $60 billion globally by 2025.
For TA leaders, AI is here. Within the next few years, AI will be deployed in 95% of talent acquisition technology solutions, according to research by Talent Tech Labs. If you have a vague sense of what AI is, now’s the time to get up to speed. Here are five plain-English questions and answers that will help you better understand the buzzwords and the buzz around this exciting technology.
Q: What is Artificial Intelligence (AI)?
A: AI is a category of advanced technologies in which machines are able to do something a human typically would do.
Q: What is Machine Learning?
A: Machine learning is a type of AI. Though the terms are often used interchangeably, AI and machine learning are not equivalent. Talent Tech Labs offers a good description: Machine Learning (ML) is a type of artificial intelligence that provides computers with the ability to learn without being explicitly programmed.
Q: What is Natural Language Processing?
A: Natural Language Processing (NLP) is the area of AI that helps computers interpret human language. Using the combination of NLP and machine learning, AI technologies can interact with people in human language.
Q: Where is AI headed?
A: AI is evolving in stages. The initial stage was simple AI automation, like when you get a text inquiry with the instructions “reply 1 for yes, 2 for no.” At the start of the next stage are Siri, Amazon’s Alexa and some other AI-powered virtual assistants, or chatbots, which use machine learning and NLP. Modern Hire’s chatbot in our on-demand text interviewing application is also a second-stage AI technology. Read more about NLP and chatbots in recruiting in a recent SHRM article.
Q: How is AI being used in TA today?
A: AI is already highly prevalent in TA technologies. AI applications are scanning the Internet then selecting candidates and setting up interviews. They’re improving job descriptions and reading candidates’ body language to try to predict top performers. However, as with any technology, not all AI is created equal. And, the way you choose to utilize AI will likely be guided by your organization’s goals and values.
At Modern Hire, we’re developing assistive AI technology for recruiters and TA teams. Our focus is answering the question: How can we make the lives of candidates, recruiters and hiring managers easier by integrating AI in our interviewing solution? At the moment, our answer is AI applications that can take the administrative burden off recruiters and improve the candidate experience by managing repetitive tasks. Our AI takes the form of a virtual recruiting assistant, giving recruiters the ability to build relationships with more candidates each day.
Part of the buzz around AI is concern that AI will replace recruiters. Some providers in TA have started down that path with AI that makes decisions for their clients about which candidates to advance and hire. That path is one Modern Hire will never take. We believe in the power of AI when it’s used to drive recruiter efficiency, not to replace conversations and decision-making.
Check back with our blog often for more on AI in talent acquisition. Or, contact us today – we’d be happy to talk with you about the potential for AI to help you meet modern candidates’ expectations for a fast, simple and convenient hiring experience.