A recent report
by The Economic Times
talks about how Companies use Al tools like GenAl bots for candidate sourcing, resume
screening, and skills assessment. HR executives say Al makes hiring quicker and
more efficient. Genpact launched, an Al-based job-matching engine, resulting in
improved productivity and faster hiring.
Companies
across sectors are using artificial intelligence tools, including generative
AI, for candidate sourcing, resume screening, skills assessment, predictive
analytics and bias reduction in their recruitment process.
Humans get
involved only from the interview stage at some companies, while at some others,
GenAl bots help managers conduct interviews.
While there
are several concerns, ranging from data privacy to risk of discrimination and
inability to discover potential in candidates, HR executives say AI is making
the hiring process quicker and more efficient for them.Professional services
firm Genpact recently launched IMatch, a GenAI-based in-house resume parsing
and job-matching engine.Covering 40% of its new hires, AI tools have made the
hiring process touchless till the interview stage, said Ritu Bhatia, Genpact's
global hiring leader. Use of AI has resulted in a 15% increase in recruiter
productivity, and an improvement in the speed to hire from 62 days to 43,
Bhatia added.AI tools help analyse historical data, market trends and internal
talent metrics, allowing companies to gain insights into emerging skill demands
and talent availability, and develop recruitment strategies to address current
and future talent needs.
Simplilearn
has been deploying ChatGPT - among other AI tools - for over a year to optimise
job descriptions, craft proficiency assessments and conduct psychometric tests.
"This
enables us to reduce time on mundane tasks and improve productivity and
efficiency," said the edtech firm's chief HR officer, Archana Krishna.
According
to Rajesh Bharatiya, chief executive of recruitment services provider Peoplefy,
GenAI-based tools help customise the process; for instance to send a
recruitment mass mailer based on each candidate's unique experiences and
background. "Such customisation may require 10 times more time to
customise Infrastructure development firm Welspun
Enterprises
uses a GenAI bot that assists its executives in taking interviews. "Our
hiring efficiencies have improved drastically. Before using the GenAI bot for
interviewing, our selection ratio was 15%. Now this rate has increased to 55%,
a 40% jump in my selection rate overnight," chief HR officer Raiesh Jain
said, adding: "This is big.
However, at
the current stage of its development, experts believe there are certain
pitfalls associated with deploying AI in hiring practices.
Read more at:
https://economictimes.indiatimes.com/jobs/mid-career/the-rise-of-ai-in-recruitment-process-how-companies-are-using-artificial-intelligence-for-hiring/articleshow/110427579.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst