Why the HR industry is looking to adopt Artificial Intelligence (AI) technology? Why organizations investing heavily investing in artificial intelligence HR functions?
The only reason behind this drastic shift to AI is to achieve automation in processes, high productivity, reduce operational costs, business risk reduction, and finally, to remain competitive in the digital world.
On the HR industry front, multiple consultancies and recruiting firms, SME’s, and MNCs are all planning to completely transform their traditional human-based hiring processes to AI. Hence, AI-based hiring and recruitment is a boom in the HR market now.
We just want to give you a brief on what is AI? What technologies it covers to provide tremendous benefits to the HR teams? What are the major use cases of AI for human resource management? And so on.
Let’s start our topic!
What is Artificial Intelligence (AI)?
Artificial Intelligence is a revolutionary technology that primarily aims to automate and solve the complex business issues that humans generally face.
AI technology enables machines to perform tasks exactly like a human with more intelligence and faster. The capabilities of AI-powered machines or devices include automatic learning from input data, efficient problem-solving capabilities, and also can language processing.
Technologies Covered in AI
Machine Learning (ML) and deep learning are two major technologies that come with AI. To understand and learn from the data, to analyze the patterns from both structured and unstructured data, AI machines need to be use ML and deep learning capabilities. Let’s a small discussion on ML and deep learning technologies.
What is Machine Learning (ML)?
Machine learning, the name itself represents that this technology enables machines to learn from the data fed to it. This advanced AI technology is also used to make predictions from the given data. Pattern recognition is one of the significant processes of machine learning. Using the power of ML algorithms, pattern recognition procedures help identify patterns from the given data without programming explicitly.
How machine learning is useful for HR teams?
In today’s HR industry, machine learning becomes popular. ML applications in human resources (HR) are huge. Here, we discussed top use cases of ML technology for HR departments. Let’s start.
Top Use cases of ML in HR
1. Profile Selection: ML algorithms are used to extract the right candidate profiles based on the criteria you fed to the system. This will save a lot of time of HR teams in searching for the desired candidate profiles.
2. Recruitment Purpose: ML can do magical things beyond resumes. By analyzing the candidate’s social media profiles, ML tools can retrieve candidate attributes including experience, and other added skills that are not in the resume.
3. Tracking and Assessment: It is one of the most fabulous applications or use cases of machine learning for HR teams. AI, together with ML-based HR tools, helps HR teams to efficiently track the candidates throughout the interview process. Accordingly, ML-powered HR tools assist HR professionals to analyze the candidate talent score and make perfect decisions towards hiring.
4. Employee Attrition Detection: Analyzing why an employee is staying or leaving is extremely a complex task to be done by human HR professionals. But, machine learning tools and apps can do this seamlessly. ML tools can easily find the employee attrition rate and help HR managers to guide them for maintaining good employee retention rate.
5. Better candidate experience: Natural language understanding- powered conversational chatbots used to provide quick responses to the applicant as well as employee queries.
6. Boost Employee Performance: ML is one of the potential technology used for enhancing employee skills. These kinds of platforms help companies in providing personalized recommendations to their workforce that boost their brand value in the market. However, ML tools also help employees to develop their skills to sustain in this ever-competitive digital environment.
USM’s AI-based hiring solutions boost performance of your HR teams. Let’s know how?
Before ML has come into the market, HR professionals used to perform all these tasks manually. However, the adoption of ML tools in HR not yet fully done. It needs some time to completely roll out in the HR industry.
But, the major drawback of ML algorithms is that they completely depend on data fed to the software. So, we can say that the performance of ML tools is data-driven. The performance and output of ML tools depend on the accurate and quality data that you provide.
Research studies are still going on to advance the usage of Machine Learning in the HR industry. For instance, in the future, machine learning is expected to widely adopt for use in Enterprise management and tracking behavior of employees.
What is Deep Learning?
Deep learning is a sub-set of emerging ML technology. Deep Learning technology is primarily used to train a computer to learn from a vast quality of data sets using neural network architectures. This technology help users in differentiating things, objects, animals, etc, based on the previously trained set of related data elements.
No, we will see how deep learning technology helps HR professionals or managers in easing their regular tasks. Let’s start.
Key use cases of Deep Learning for HR industry
• Face Recognition: Deep learning algorithms are well efficient in classifying images. It helps HR managers in recognizing and classifying thousands of candidate profile pics faster using objective data.
• Speech Recognition: Deep learning algorithms have enough capabilities to listen, understand, and respond to voice inputs. This use case is very much needed for HR professionals in terms of voice recognition virtual chatbots.
• NLP Chatbots: Using the power of natural language processing techniques, virtual chatbots can understand human language and respond accordingly. NLP enabled AI systems completely automates HR tasks with Chatbots
In the below section, we completely focused on how the bled of AI, ML, and deep learning offers benefits and opportunities to HR teams.
USM has vast experience in delivering AI-powered staff hiring and recruitment solutions.
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Artificial Intelligence in HR
Artificial intelligence technology in HR is majorly used to improve the operational efficiency of HR teams. In addition, AI is widely used by organizations for reducing costs, as it involves automating repetitive tasks. The smart AI technology helps HR members to drive performance and thus helps them to achieve the company’s objectives as well as huge profits.
We listed out the top three reasons why organizations are deploying AI in human resource management.
1. Employee experience
According to the market reports, approximately 80% of organizations believe that their employee experience is their success. The organizations that provide personalized employee experience are witnessing unbelievable productivity, profitability, as well as greater employee retention rate.
AI tools can work best throughout the employee lifecycle from selection, recruitment, and onboarding to virtual HR services, and skill development, etc.
2. Data-driven decision making
HR professionals can build strategies and decisions that bring profits to the company. Using AI and ML technologies, HR managers can do automatic data collection, analysis, draw insights, and finally helps to take value-added business decisions.
3. Intelligent automation
AI and automation refers to intelligent automation. Intelligent automation enables systems to understand and react with or without human intelligence. Along with automating HR tasks, intelligent automation will also help to make the best business decisions as a human does. Hence, artificial intelligence in HR opens up multiple opportunities to the organizations.
Source: https://www.usmsystems.com/artificial-intelligence-in-hr/
