Whether you accept it or not, AI is coming to change the world. I can promise it will not be a whole Terminator series, but you can settle with a Black Mirror episode. We all have seen the rise of AI in 2023; earlier, it only used to be a tool that a certain segment of the developer class was using. However, now, with so many AI applications, it has spread its wings in almost every digital sector. And the current scenario that is going to see a revolution in the human resources itself. AI can potentially change how we hire candidates in the coming few years. According to a report published by Recruiting in 2023, 60% of recruiters believe AI will significantly improve efficiency in hiring and reduce the time to hire. A majority of organizations are shifting their traditional hiring program to interview intelligence programs. So, what is the fuss all about? Will AI change how hiring used to work, or will it take your job? Let’s understand it.
How is AI being used in hiring?
You see, there are several different mediums from which AI tools can be integrated into hiring. We’ll look at some of the methods by which multiple organizations are practicing the implementation of AI.
1. Resume Screening with AI
We all know that shortlisting resume is a tedious task for any recruiter; all of them go through painstaking hours just to shortlist some resumes from a pile of 100. With an AI-powered system, this process can be not just optimized but can also be fast-forwarded to process the screening based on certain criteria rapidly. A report published by Forbes in 2023 suggests that using AI for resume screening can save recruiters 7 hours per week. AI can analyze resumes with the candidate’s skills, experiences, and qualifications. An AI with Natural language process capabilities can extract necessary information from the resumes and create a list of candidates in a jiffy; this simple implementation can save a lot of time for recruiters.
2. Candidate sourcing with AI
I know it takes a lot of time for recruiters not just to hire candidates but also to look for potential ones. AI can help here in reducing the search area, and sourcing of the candidates. It can work as your digital publisher and post vacancies on various platforms by identifying a candidate that closely matches the role.
3. Video interview recording tool
One of the key areas where AI integration works perfectly is the video interview platform. With interview recording bots, interviewers can rest assured that each interview is getting recorded immediately as it starts, and they don’t have to do anything much here. These quick video interview recording tools can help a lot in keeping the record and allowing recruiters to review it for further candidate hiring assessments.
4. Analyze recording video interview with AI
You see, one of the areas where AI is currently impacting the most is the part where it is integrated with a system to analyze the recording interview live and recording. With natural language processing capabilities, it can easily analyze interview recordings and create an interview transcript that is easy to understand for humans. These simple features allow the system to create AI interview notes that can be easily analyzed by the hiring managers and recruiters for further assessments.
5. Candidate assessment with AI
If you give an AI enough data to process and apply a good checksum that can help in generating a report, it will do its job. On a similar principle, nowadays, AI is helping in the assessment of the candidate as well. The recorded interview data is further analyzed by the AI system to determine if the answer given by the candidate was correct or not. In addition, the system also checks how descriptive the answer was on several different parameters. With this analysis, the AI hiring tool is able to generate a candidate skill assessment report that the hiring managers can further analyze to make effective decisions.
6. Interview training with AI
I realize some of you may not like the idea of AI training a human; however, if we look at the bigger picture, then it is a very helpful tool. You see, the majority of organizations deal with the issue of unconscious bias with their interviewers. These hiring bias don’t just ruin the candidate experience but also cloud the judgment of the hiring managers. With the help of the AI hiring platform provided by BarRaiser, hiring managers can have some piece of mind that their interviewers are getting real-time feedback on the techniques of quality hiring and improving the candidate hiring experience. See, the constant feedback provided by the AI to the hiring managers while conducting the interview helps a lot of them to understand what recruitment biases are and how even a single question can make the candidate unfordable. This is perhaps the best method to give training to the interviewers.
7. Strcuturing interview with AI
A structured interview is something that you will rarely see in a traditional hiring process. This is because the majority of recruiters don’t have enough time for candidate analysis and creating a custom questionnaire for the candidate. Having a structured interview process can reduce the time to hire by 40% and fast-forward recruitment. BarRaiser’s excellent tool AI can help you plan and strategies a structured interview on the basis of the candidate’s skills and job profile. Creating a structured interview with AI is a simple and quick process, and all you require is a couple of skill selections and overviews to check if everything is in order.
8. Interview guide by AI
There are two methods for hiring. The first is to have a traditional hiring approach, which will surely take a lot of time, and the second is the AI way. What helps a lot in a candidate’s hiring is the preparation of the interviewer. BarRaiser guide for interviewers has a simple solution: interview copilot. This is a complete AI interview system that will help you schedule an interview, create a structured interview, conduct a skill assessment test, give real-time interviewer feedback, select a time frame, record interviews, and more. This is perhaps an All-in-one AI hiring tool that you can have. BarRaiser’s interview copilot will not just help you fast forward the interview process, but with its integrated interviewer training feature, it can train the interviewer in real time.
9. Promote diversity and inclusion with AI
The real benefit of having an AI interview intelligence platform is that it has the ability to ensure that each hiring aims to promote diversity in the workplace. You see, diversity in the workplace is a long subject and process, and it requires several different checksums to ensure that the candidate hiring is running smoothly. With the help of interviewer training tools, hiring managers can ensure that their recruiters are well-trained for the upcoming hiring change and open for diverse candidate employment. BarRaisers’ interviewer training has the capability to keep in check if the interviewer has practiced any unconscious bias or not, and from time to time, it provides live feedback to the interviewer to keep the interviewer process fair.
Also Read: Why is AI important in Recruitment?
10. Onboarding with AI
You might think what is the use of AI recruitment tools when the hiring is complete. However, the situation is otherwise. AI-powered tools can assist in the onboarding process. It can help the hiring team with collecting necessary documents from the candidate and conduct autonomous training/onboarding sessions. This saves a lot of time for the recruiter and HR team that they can utilize somewhere else.
11. Interviewer Score for improvement
One of the last and exclusive things where AI is helping in recruitment is the Interviewer score. This is an exclusive tool by BarRaiser that has the capability to generate scores of interviewers based on the conducted interview. It analyzes interviewers based on various parameters, such as the number of times the interviewer has taken an interview, questions asked, completed tasks, interviewer structure followed, biased judgment over answers, unconscious bias, stereotyping while conducting the interview, skill-related questions asked, and many more. Based on several different parameters like this, our AI system generates a detailed report that is shared with hiring managers; from here, they can review the interviewer and provide the necessary feedback for improvements.
What is the impact of these AI hiring tools on Hiring?
We all need to understand that not all AI tools are the same; you might not get all these features in a single AI tool. However, there is the possibility that you can get some. Still, the question remains: what is the impact of the tool on hiring? Well, here’s the gist.
1. Improved efficiency and speed:
BambooHR reported in 2023 that AI-powered scheduling tools can reduce time to hire by 25%. This is one of the benefits that you get with AI tools, as all of its functions can minimize the time you’re taking to do research, organize, and conduct hiring. In terms of hours saved, it has been estimated by several different publication houses that AI can save 7 hours of recruiters’ time per week by simplifying & automating several different tasks.
2. Reduce Bias and increase transparency & fairness
It has been reported by MIT Sloan Management Review in 2021 that AI algorithms can reduce bias against women by 27% and minorities by 15%. This is a significant change that can be implemented with the help of AI, as its core programming makes sure that the system keeps a check on unconscious bias and works towards improving it. Harvard Business Review in 2022 reported that 80% of hiring managers acknowledge unconscious bias in their decisions.
3. Excellent candidate hiring experience
According to a report published by TalentTech in 2023, 73% of job seekers would be more likely to apply to a company using AI for personalized feedback. This is because having an AI assessment tool allows them as a candidate to get feedback instantly on their performance, which eventually helps them improve their skills. In addition, AI-powered chatbots can answer applicants’ questions 24/7, which for a recruiter can turn out to be a tedious task. It was also reported by Microsoft that companies using AI to provide clear hiring timelines see a 15% increase in candidate engagement; this eventually improves the candidate experience of hiring, and gives a positive brand awareness of the candidate.
4. Future of work with AI hiring tool
The majority of people get scared of the fact of AI as a hiring tool and tend to have the impression that this tool will take over the traditional jobs of people. However, it is otherwise. According to the World Economic Forum, AI will create 70 million new jobs globally by 2023 and will require new skills like data analysis and critical thinking in the coming decade. So, it is pretty much clear that the next era will be of AI, and hence, we will see more applications of AI helping and solving issues of corporate organizations.
At the end:
There is no end to this debate; we can talk and talk for hours, and we will see more applications of AI changing the world. In the human resource industry, its applications are making a significant impact; tools like structured interviews and interview recording tools are fast-forwarding the hiring process. Tools like interviewer training ensure that there is diversity and inclusion within the organization, empowering innovative ideas and creating a vibrant culture. The coming decade of AI is not just going to make some changes; it is going to revolutionize the entire landscape of corporate work culture. It’s high time we start practicing its application in a safe and steadfast manner that benefits the organization.