Artificial Intelligence Meets Talent Acquisition -- The Future Is Here

Executive Summary

The world of talent acquisition solutions is undergoing a fundamental shift, with the evolution and quickly expanding adoption of Web 2.0 tools, cloud computing technology and interactive Web-based media.

Meanwhile, when it comes to finding and hiring the best candidates, some things never change. Organizations continue to seek the perfect convergence of three desired outcomes: high quality candidates, fast fulfillment through the pipeline, and the lowest possible cost per hire.

Unlike traditional hiring processes or computerized legacy systems, today's state-of the-art talent acquisition solution is more efficient, more effective and reduces overall talent acquisition costs by leveraging the power of artificial intelligence software to work in tandem with the experience and knowledge of the recruiter or HR manager.

A new-generation, AI-based talent acquisition solution engages candidates at the front end of the recruitment process, identifying mutual interests and alignments between the candidate and the hiring organization, and delivering superior candidates in the shortest amount of time and at the lowest cost. It actually brings the initial or first interview with interested candidates to the forefront of the process, moving the traditional rite of passage of submitting a bland and merely informational resume to the back of the process.

This is particularly crucial for companies that must fill the same kind of jobs frequently or hire in large volumes, especially considering the high cost of turnover when a hire doesn't work out. Applying the next-generation power and flexibility of computing technology to the unchanging demands of quality, speed and cost management meets the increasingly crucial challenge of finding a talent acquisition solution that automates and reacts nearly instinctively to the entire process workflow - selection, assessment and hiring - in a compliant and consistent manner.

The definition of artificial intelligence is a system that perceives its environment and takes actions in response that maximizes its chances of success. Today's next-generation talent acquisition solutions act in the same way - from requisition to verification to candidate management - reacting to a candidate's behavior and input each step of the way to maximize getting the best hires faster at lower cost.

"In a nutshell, a talent acquisition solution that is designed from the perspective of AI logic can relieve HR of many of the burdensome and time-consuming tasks that are necessary but primarily administrative, and give time back to HR and recruitment to focus on higher-value activities, to deliver more value to the organization, while also cutting the costs of recruitment from start to finish," says Ron Selewach, chief executive officer for HRMC, a talent acquisition solution that leverages AI concepts.

This paper explains what artificial intelligence is, how it applies to the world of talent acquisition solutions, and how a talent acquisition solution that can react to situations can maximize success and increase the value staffing and recruitment brings to the organization.

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