The combination of artificial intelligence (AI) and machine learning (ML) has recently proven to be one of the best integrations in the field of recruitment sector, and this technical breakthrough has offered a whole new dimension in altering the Interview as a service platforms in Bangalore.
AI has made inroads into practically every aspect of business, regardless of industry, and the recruitment industry has not been left behind. Having matured over the last few years, AI and ML are no longer in their infancy. Hence,their arrival into the human resource management field is not at all surprising. Furthermore, with Bangalore as India's IT hub, integrating AI and ML by interview outsourcing companies is a natural progression.
The role AI &ML
Before delving into the function of AI in technical interview outsourcing, it's worth noting the humblest concept of Artificial Intelligence and Machine Learning:
1. When technology assists machines in working and reacting like humans, this is referred to as artificial intelligence.
2. Machine Learning is a subclass of AI, and while the two are sometimes used interchangeably, they are not synonymous. Machine learning aids in the recognition of patterns and assists AI in making well-informed decisions. For example, machine learning will aid in cataloging the pattern of candidates' personality factors to determine whether or not they are suited for the offered position, and AI will be aware of this.
In any industry, it is criticle to meet hiring targets on time or else, apart from the stagnation of growth, there will be no value addition to the organisation year after year.
Every sector witnesses hiring obstacles, and AI & ML can help to mitigate these issues swiftly, easily and effectively.
1.Sourcing Process is time-consuming and exhausting:
Talent acquisition is a lengthy process with many constraints and repetitious work, from sourcing to final selection and conversion. In today's competitive labor market, even the smallest delay could result in the loss of outstanding talent to a competitor. AI has significantly lowered the cost of sourcing and has proven to be effective in locating the appropriate talent at the right time.
• Using AI and machine learning techniques, applicants with the requisite expertise can be quickly identified from a large pool of candidates.
•Even before the job is posted, AI may identify the applicants with appropriate skillset for the position and provide them employment recommendations.
• In addition to the foregoing, AI in HR is now advanced enough to offer forecasts about conversion rate, performance, tenure, etc.
2. Interview schedule and Screening:
With the help of Digital assistance, candidates can schedule and reschedule their interview at their convenience, send drafts, references, sources, reminders, reviews, etc.
• AI can help in collecting data about the candidate’s employment history, former job profiles, roles and responsibilities, achievements, etc., and preparing an effective set of questions for deeper evaluation of knowledge and skillset.
•AI & ML reduce the burden on the hiring managers and as an outcome, managers can devote ample time to evaluating the candidates' suitability for the required role.
3. Assisting in selection and accurate offer:
Even though AI & ML does not finalize or any hired candidate (it is not advisable to do so also), it has evolved as a predominant assistant to the selection process in the following ways:
• Based on the data available, AI & ML in evaluating the performance index predictions based on the candidate's current profile and comparing the same with the others who have worked in this same field in the organization.
• It can gather the wealth of information from the market and competitors concerning the roles vis a vis remuneration and evaluate the same to construe profile and emolument bracket for the same.
4. Conversion and onboarding:
The major three aspects of talent acquisition are Selection, conversion, and onboarding and AI has a fundamental role to play in all three. Studies of Work Institute showed that 40% of new hires resign within one year. Candidates who have a smooth onboarding process and good experience in the first ninety days of employment are more likely to stay in the long run than the opposite. This allows us to evaluate the importance of effective onboarding of the talents.
AI apart from reducing administrative burden and repetitive filings can guide the new hires through Digital Assistant in a more effective way. It can guide employees towards relevant information, training, studies that are required for day-to-day deliverance in the new role.
In today’s time in the field of talent acquisition, AI & ML has come a long way. Now it has become a prerequisite to onboard the top talents from the market to gain an edge over the competitors. This is one of the prime reasons for the growth of the Human Resource Management industry, Interview as a service platforms, technical interview outsourcing services, etc.
As per a study conducted by one of the top interviews as a service platform in Bangalore, in an average the top talents in an IT industry receives 3 to 4 in average offers at the same time. The hiring battle is fierce when it comes to the right candidate and with the assistance of AI&ML the industries gears up for the battle to land its hand on the desired candidate.