Mumbai: Artificial Intelligence (AI) and Machine Learning (ML) play a key role in both recruitment and key talent for Indian companies. Using AI-based tools to reach more candidates, reduce bias, and find better fit for your organization.
Mumbai: Artificial Intelligence (AI) and Machine Learning (ML) play a key role in both recruitment and key talent for Indian companies. Using AI-based tools to reach more candidates, reduce bias, and find better fit for your organization.
Mint + Shine.com’s “Talent Insights” report examines responses from 291 job seekers and 215 companies, showing AI’s key role in attracting the best candidates in a highly competitive field turned out to be
Mint + Shine.com’s “Talent Insights” report examines responses from 291 job seekers and 215 companies, showing AI’s key role in attracting the best candidates in a highly competitive field turned out to be
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More than half (53%) of the companies interviewed for this survey believe AI could play a “major role” in helping recruiters do their jobs in the near future, with 35.8% I think it plays a “some role”. However, only 8.4% of companies believe AI can fully replace recruiters, and 2.8% believe AI will not support recruiters in the near future.
Interestingly, insurers were found to be early adopters of AI and chatbots in their recruitment process. Max Life Insurance Company deploys AI and chatbots to streamline and automate key stages of the recruitment process.
“We are also leveraging AI for the initial screening of candidate profiles. Using AI algorithms, we are able to efficiently assess candidate profiles based on pre-defined skill sets for further consideration. We can identify the right people,” said Shailesh Kumar Singh, Senior Director and Chief Human Resources Officer, Max Life Insurance Company.
However, eliminating human intervention in candidate selection may not be desirable. Of those respondents who see only “some role” for AI in HR-related tasks, the survey report found that companies allow AI to support recruiters, but that “humans are required to make subtle decisions and build relationships.” ‘s involvement is essential,” he said.
Meanwhile, approximately 58.1% of the candidates who participated in the survey said they would prefer to interact with a human HR representative for their first job-related inquiry, and 38% said they would be comfortable with a combination of both humans and AI. Did. AI alone is only 3%.
In fact, the study highlights that human programming is subject to errors and biases. “Over-reliance on AI without maintaining human interaction can create a sense of disconnection in the work environment.”
Companies are devising AI-powered tools to improve employee skills. This is done when hiring from the side is costly and companies prefer to leverage their existing workforce across roles.
Bajaj Allianz Life Insurance said its Learning Experience Platform (LXP) will send nudges through an AI-driven engine to recommended learning paths based on employees’ skill sets, experiences and choices.
“The HR and technical teams are also considering integrating ChatGPT with Bajaj Allianz Life Insurance’s HR BOT…More quickly and accurately answering complex employee questions on many matters, including HR policies and processes. so that we can respond to,” he said. Bajaj Allianz Life Insurance Chief Human Resources Officer (CHRO) Santanu Banerjee said:
Banerjee said the insurer conducted more than 10,000 skill-based assessments as part of its hiring process last year.
“We took it a step further by monitoring the initial productivity levels of managers in the field and found that candidates who scored highly on these assessments showed an amazing productivity level that doubled. I did,” CHRO said.
Companies should also emphasize that while many roles and profiles will be replaced by AI-based tools, jobs will be created for different skill sets.
“This is the same fear that has been voiced before with computers taking jobs or robots taking jobs. All these new technological tools have further unlocked and unlocked human potential. said Amit Sharma, Vice President of Indian People’s Culture, Volvo Group.
According to HR executives interviewed for this study, 25% of employers say AI/ML has become a fundamental pillar of the tech industry. This is followed by sales skills (13%), data science skills (12%) and business management skills (8%) for a competitive edge.
Candidate performance evaluation and recruitment were rated as the greatest usefulness of ChatGPT for HR-related tasks. When asked about this, about 29.8% of respondents chose her two options. Her two remaining options, support and maintenance, and onboarding, received 22.3% and 18.1% votes respectively.
Akil Gupta, CEO of Shine.com, said, “Looking at the bigger picture, AI will create multiple new job opportunities and avenues, empowering employees while AI can handle daily tasks. It’s important to recognize that we are now able to focus on strategy.” .
