AI is now matter or when and not why for very many things that are part of our personal and work lives. There are many cases for AI to help us optimize important parts of our business. The most important area where AI is now predominantly helping is the hiring function and there are a lot of practical reasons for it. Here we will try to get to the key reasons that make a business case for it
The primary reason to change anything in a business that is running is addition of a tangible value to the whole process that in the end improves ops and profitability. One of the key things that differentiate a successful business from a loss making one is clear and informed decision making. The right calls need to be made at the right time and by the right people. What this translates into is the need for right data percolation, collation and correlation at the right time. The data movement also needs to be weighted according to who is getting in the decision making tree.
There is also the key issue of integrity and security that have to be part of the flow and not externally plugged in. In effect, we need to ensure that the data is in such a form that it is useless to anyone without the process and thought applied to it. This improves security and decision making at the same time.
AI in the state that it is standing today is a tad bit far from shaking the earth with disruption but is very much a potent force in improving process efficiency. One of the most important most important processes that any organization needs is the hiring process and having AI as an enabler there means that you are adding all of the above at one shot into your process. Let me explain this in a slightly detailed manner.
In the hiring process, there are three key things that any organization needs – the right people, the right skills and at the right time. What will help immensely is the ability to get a good mix between internal and external hires that will fit the project needs in deterministic time. So when an organization has frozen the parameters like skill level and resource mapping, the discretion-free and logic-driven AI can then take over and glean the necessary information from all available sources. The online sources become key in the gig-based economy that prevails now. The AI then goes to work on the data and the meta-data to extract reporting information that is sorted correctly based on parameters decided earlier.
The AI can then make access controlled reporting mechanism based on role in the decision tree and present it accordingly. The organization then decides. The entire process is data driven and devoid of any discretion or bias.
Now look at the same done without AI using traditional hiring and you will see that the entire process is riddled with bias and the hiring team becomes a bottleneck at every stage in the process. Also the fact that the hiring team can be fatigued doing reporting and errors may creep in does not bode well. Rote tasks like these are better in the hands of the AI and results are also better.
If you are thinking that the AI systems that are capable of these decisions are still a work in progress or exist only in the realm of futuristic thinking, think again. tools like Spire TalentSHIP exist already and help in contextual and AI driven hiring. Time to look at the business case for AI in hiring and get on to it as an early adopter, it makes a lot of business sense to do it.