At Oracle OpenWorld 2018, Oracle CEO Mark Hurd stated that 35 percent of a recruiter’s day is spent on sourcing and processing candidates. However, automation and artificial intelligence (AI) can introduce efficiency into the entire recruiting process and eliminate costly manual processes. Finding the right talent and then onboarding that talent efficiently can be challenging in today’s competitive recruitment environment, but Hurd explained how he sees emerging technology changing recruiting moving forward.
The Dice 2018 Recruitment Automation Report showed that more than half of all recruiters surveyed said that they “see the automation of tedious, manual tasks as the top benefit” of AI technology.
Examples of Technology Changing Recruiting
One example of automation and technology changing recruiting is the use of AI-powered chatbots. Many companies are using chatbots to interact with website visitors, but they can also use them to reduce talent acquisition activities – including the time needed to screen and hire candidates. Chatbots, which are powered by machine learning (ML) and natural language processing (NLP), can:
- Facilitate the application process
- Provide candidates with timely updates
- Help recruiters handle scheduling
- Compile applicant information into a central database
- Much more!
“That’s the beauty of AI and chatbots with natural language interfaces – they allow workers to have a more human experience and engage with technology in a conversational way.”
—Emily He, Vice President of the Human Capital Management Cloud Business Group at Oracle
In order for AI to make accurate predictions, it needs to be trained on a large volume of data. Traditionally, the amount of data generated would present challenges for businesses. However, when discussing this issue at OpenWorld 2018, Mark Hurd explained that while it’s usually difficult to harness that data information, that’s not the case when AI is applied.
Oracle’s AI Platform uses AI and machine learning to store and process data at scale at rapid speeds. The more data a system processes, the more intelligent the system becomes. AI models are trained by big data, just as human brains are trained by the data accumulated and processed through multiple experiences.
Today, AI is improving and expediting the recruitment process from start to finish. One of the major items on many HR managers’ wish lists is full transparency of skills and personality traits for employees. Nowadays, they can manage this complex data through Cloud computing.
The use of the Cloud does not stop at the recruitment or onboarding phases. HR managers can continue to monitor their employees’ mood and attitude, performance, and development with Oracle HCM Cloud’s intelligent Human Capital Management system. Managers can use data to make more informed decisions about their workforce. This can ultimately reduce turnover and allow companies to onboard more qualified candidates, whose skill sets align more closely with job requirements.
“Expectations will continue to change faster than most organizations are able to evolve or invent experiences for and this constant flux requires HR teams to constantly innovate and adapt. By continuing to integrate the latest in artificial intelligence and machine learning within Oracle HCM Cloud, we are helping our customers simplify the complex and deliver the best possible employee experience.”
—Chris Leone, Senior Vice President of Oracle Applications Development
With all of the modern tools at their disposal, recruiters will need to develop technology and analytic skills in order to thrive in a new AI-integrated environment. Hurd predicts that AI integration is inevitable and that it will free up people to work on higher-level tasks.
HR should no longer be viewed as a cost center. It is a value generator that is evolving and leveraging technology to improve efficiency and shed light on an organization’s most valuable sources of productivity—its people. Through AI-powered predictive analytics, HR leaders can manage expectations more effectively and ultimately drive value within their organizations.
For more examples of technology changing recruiting and other areas of your business, check out the additional resources attached below.
For more Oracle HCM Cloud resources, case studies, best practices, etc., check out Quest’s Oracle HCM Cloud Content Center. There are resources and training available for all aspects of HCM Cloud, including payroll, analytics, recruiting, and more!