With the massive amount of resumes hiring professionals have to go through, it’s easy to see why they’d like some help from AI.
Consider the fact that over 60 million people move work each year and that for every job opening there are a list of applicants, typically around 84 on average with corporate jobs usually tend to receive 250 applicants.
That’s a lot of CVs that need reviewing to begin the shortlisting process. No wonder then that completing this task manually is far expensive and time consuming. This is where artificial intelligence can truly shine.
A good recruiter can review a resume in six seconds, whereas good AI can work millions of times faster – in some cases having the capability to match three million jobs to 600 CVs every second. Humans have one advantage over machines – common sense judgement. Where an AI programme will strictly follow its programming, a human recruiter can use their judgement to decide if a candidate has some overlooked value and add them to the shortlist, they can also decide the opposite – seeing a candidate that would be instantaneously shortlisted by AI but also considering other factors that might not make them a good fit for a particular company. This disparity of judgement between man and machine ends up being around a 10% difference in accuracy.
Even though humans may be able to produce niche candidates AI would often overlook, AI clearly has an advantage in its processing power. This is why recruitment agencies and tech developers have been incorporating AI into recruitment over the past 20 years.
Read the full article at elite business