Cognisess’ guest blogger Technology4JB takes a look at the opportunities emerging in the people & talent space to use the power of AI and Machine Learning. It provides an easy to understand guide for HR Professionals who are considering what the benefits of this new technology might be.
One of the latest advancements in technology is deep machine learning, which focuses on the capabilities of artificial intelligence (AI) algorithms to adapt and learn from users’ behaviours through brain-like structures called neural networks. Among the industries set to be disrupted by deep learning is human resources.
AI is now being tested out on a number of different Internet of Things connected devices. Gartner claims AI will soon be integrated into every software by 2020, which research VP Jim Hare calls “the biggest gold rush in recent years.”
Tech giant Samsung has been testing deep learning by applying it in various devices, including in ultrasound equipment and in their latest smartphones through Bixby. According to the information shared by O2, Galaxy S8’s Bixby makes things easy for users to ‘do what they want, when they want’. Samsung’s propriety mobile AI assists users in completing tasks, tells them what they’re looking at, learns routines, and remembers what users need to do. This latest development in mobile AI can help further drive the adoption of deep learning in human resources.
With the amount of data that is available in the hiring process, machine learning can unearth more efficient approaches for identifying strong candidates. Through a model that is trained based on data made from example collections, companies are able to create accurate predictions instead of following a static procedure.
There are certain ways that deep learning can assist in making the HR process more efficient such as the following:
Evaluate more candidates quickly
From a nearly endless pool of possibilities, algorithms can help HR in finding and recruiting candidates quickly and effectively. AI can accomplish the time- and labour-intensive task of searching for the right applicant, such as screening CVs or scheduling interviews. Deep learning excels at statistical analysis and pattern recognition that makes evaluating CVs of successful employees easier and helps identifying whether an applicant comes with similar traits and experience that is required for the position. Aside from automating high-volume tasks, the technology integrates seamlessly with the current recruiting process, so it doesn’t disrupt the workflow. Since time for recruitment processes are reduced, it’s less likely for a company to lose the best talent to some of their competitors that aren’t using similar processes.
Improves quality of hires
Based on the statistical figures presented by CareerBuilder about the cost of a bad hire, the study showed that 41% of companies stated a bad hire cost them in the region of £20,000, while 25% said it cost them £40,000. The report even includes the often-cited Harvard Business Review study that revealed 80% of employee turnover is due to bad hiring decisions.
With deep learning and AI present, HR employees will be able to use the data gathered to standardise an applicant’s experience, skills, and knowledge based on the requirements of the job. This enhancement in recruiting is projected to lead to happier and more productive employees, who are less likely to leave their jobs.
Enhance employee satisfaction
Since algorithms work with the idea that ‘A is equal to A,’ the technology will be able to improve employee satisfaction via regular, unbiased performance reviews. Deep learning has the ability to evaluate employee performance based on the data provided to the system and without any personal bias. It can examine past performance trends of individuals, teams, or departments as well as predict future outcomes. Research published on Digitalist Magazine discussed how AI can end bias as the technology can learn how to filter irrelevancies out of the decision-making process. It can quickly select the most suitable applicant from a pile of CVs and guide HR employees based on what it calculated objectively to be the best candidate and not based on personal prejudice. The data collected is assessed by deep learning and can give HR managers and directors insights into the next necessary steps to take to improve the performance of the employees when the software spots a potential problem.
With deep learning and AI performing many of the routine tasks quicker, it makes the whole HR process efficient and employees more productive. While it’s highly unlikely that AI will replace humans in the HR field, its comprehensive capabilities to provide data-driven solutions will undoubtedly be a huge part to the continuing evolution of the industry.
Written by guest blogger Technology4JB
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