How AI is Revolutionizing Talent Acquisition: Job Descriptions and Sourcing (pt 1)
Updated: May 16
** This article is part 1 of a 4-part series on the use of AI in our industry.**
Artificial intelligence (AI) has been making headlines in almost every industry, and talent acquisition is no exception. In fact, AI is revolutionizing Talent Acquisition.
McKinsey & Company recently published a report based on a survey of 1,492 participants from various industries worldwide. The report showed that the business adoption of AI has increased by over 100% in the past five years. Technologies such as computer vision, natural language generation, and robotic process automation were particularly popular among businesses.
What exactly can AI do for talent acquisition, and how effective is it really? According to a recent study by Gartner, AI-powered chatbots can reduce recruitment costs by up to 70% and improve candidate engagement by up to 50%.
A survey by Korn Ferry found that 63% of respondents said AI changed how recruiting is conducted in their organization.
In a study by Ideal, 96% of talent acquisition leaders said AI has improved their recruiting process.
A survey by Jobvite found that 55% of recruiters and hiring managers plan to invest in AI and automation to streamline their hiring process.
In a study by IBM, the use of AI in recruiting reduced the time spent on screening candidates by 75% and increased the quality of hires by 50%.
And it's not just recruitment where AI can make a difference. According to a report by LinkedIn, 76% of talent acquisition professionals believe that AI will significantly impact how they hire in the future.
The potential for AI to revolutionize the way we develop our workforce has never been greater. So we decided to play with some of the available AI on the market, and the results were surprising.
We recently tested ChatGPT 4 & Bard on various talent acquisition responsibilities. While they are not ready to replace talent acquisition professionals, we discovered they could offer valuable insights and recommendations across a broad spectrum of duties. Here are just a few examples:
Rewriting job descriptions: AI can provide guidance on writing job descriptions that accurately reflect the position's responsibilities and requirements clearly and concisely. This can help candidates better understand the role and determine if it's a good fit for them. It can also create candidate profiles based on past successful candidates and use that data to match job seekers to open positions.
Eliminating biased language: AI can identify and eliminate biased language in job descriptions, which can help attract a more diverse pool of candidates and improve the candidate experience for underrepresented groups.
Legal Compliance: AI can stay current on changes to employment laws and regulations to ensure that job descriptions remain legally compliant and up to date.
Providing job previews: AI can provide a job preview or video to give candidates a better understanding of the position and the company culture, which can help set expectations and improve the candidate experience.
Culture, values, and branding: AI can suggest language and content that align with company branding guidelines to highlight the company's culture and values, which can help candidates determine if the company is a good fit for their personal and professional goals.
SEO Optimization: AI can suggest keywords to optimize job descriptions for search engines, which can help attract a larger and more diverse pool of candidates.
AI can analyze data on job postings to identify the best channels to reach potential candidates. It can use machine learning algorithms to analyze historical data on job postings and identify patterns in the data that can help determine the most effective channels for reaching potential candidates. For example, AI can analyze data on the success rates of job postings on different job boards, social media platforms, and other online channels to determine which channels are most likely to generate the most qualified and diverse pool of candidates for a particular job posting. This can help talent acquisition teams optimize recruitment strategies and improve candidate experience.
In the coming weeks, we will cover other ways that AI can assist with your Talent Acquisition needs, including screening resumes, conducting Interviews, and negotiating job offers.