AI In HR & Recruitment
Recruit the Right Person Referring the Righteous Decisions of Artificial Intelligence for your Business Empire
Human resource is the foundation stone for any business empire which brings their desired outcome earning a recognizable position in the market. So, the right process of recruiting right person in your company is of utmost importance. With each passing day, technology is booming unfurling the flag of advancement in the sky making us aware of its existence in the human world. After the advent of Artificial intelligence, Machine learning various trending terms we get to hear like chatbot, ChatGPT and Internet of Things which are working like magical pills in transcending recruitment process and training every individual to make their jobs easier and faster.
Working Process of AI in HR: Till now AI was being used in fields like financial and legal tools, healthcare software, and advertising platforms but in today’s AI driven world it helps recruiters in the hiring process by completing the backend process automatically and sorting the resumes quickly and accurately along with tracking the candidates precisely and helps in better decision-making. AI Algorithms can accurately calculate and keep record of payroll, recruitment, onboarding and performance of the recruited employees. On the other hand, AI powered chatbots are guiding the employees through onboarding processes, answering questions providing information and making it a more personalized and time and cost saving process. By incorporating the power of AI, it became a layman’s task to identify and track the efficiency and productivity providing data on how much time employees spend on specific tasks. It helps the HR teams to optimize workflows and validate the areas for improvement. AI can also help in personalized training and creating data-based career paths of developing skills for each employee according to their working arena.
Demand of AI Tools of HR in the Market: According to the McKinsey’s Global AI survey, 27 percent of the HR professionals said that AI driven tools have reduced the cost of recruitment by 10 percent while, 23 percent of them are of opinion that 6-10 percent of the average revenue has increased. According to IDC’s Future work, 2022, 60 percent of the global business enterprises will install AI and Machine Learning tools to support the entire employee life cycle experience and by 2024, in 80 percent of the organizations AI and ML enable managers and HR experts will hire, fire or train employees. The Global Artificial Intelligence in HR market is valued $5.26 billion in 2023 and is expected to grow $10.70 billion by 2028, growing at a CAGR of 15.26 percent.
Startupcity, in this issue presents a list of ‘10 Best AI in HR & Recruitment Startups – 2023’ who have leveraged their extensive industry expertise and experience in providing excellent services. The following list has been prepared after being closely scrutinized by a distinguished panel of judges including CXOs, analysts and our editorial board.
Human resource is the foundation stone for any business empire which brings their desired outcome earning a recognizable position in the market. So, the right process of recruiting right person in your company is of utmost importance. With each passing day, technology is booming unfurling the flag of advancement in the sky making us aware of its existence in the human world. After the advent of Artificial intelligence, Machine learning various trending terms we get to hear like chatbot, ChatGPT and Internet of Things which are working like magical pills in transcending recruitment process and training every individual to make their jobs easier and faster.
Artificial intelligence works silently for choosing the ideal workforce for oozing out the efficiency of your booming business empire
Working Process of AI in HR: Till now AI was being used in fields like financial and legal tools, healthcare software, and advertising platforms but in today’s AI driven world it helps recruiters in the hiring process by completing the backend process automatically and sorting the resumes quickly and accurately along with tracking the candidates precisely and helps in better decision-making. AI Algorithms can accurately calculate and keep record of payroll, recruitment, onboarding and performance of the recruited employees. On the other hand, AI powered chatbots are guiding the employees through onboarding processes, answering questions providing information and making it a more personalized and time and cost saving process. By incorporating the power of AI, it became a layman’s task to identify and track the efficiency and productivity providing data on how much time employees spend on specific tasks. It helps the HR teams to optimize workflows and validate the areas for improvement. AI can also help in personalized training and creating data-based career paths of developing skills for each employee according to their working arena.
Demand of AI Tools of HR in the Market: According to the McKinsey’s Global AI survey, 27 percent of the HR professionals said that AI driven tools have reduced the cost of recruitment by 10 percent while, 23 percent of them are of opinion that 6-10 percent of the average revenue has increased. According to IDC’s Future work, 2022, 60 percent of the global business enterprises will install AI and Machine Learning tools to support the entire employee life cycle experience and by 2024, in 80 percent of the organizations AI and ML enable managers and HR experts will hire, fire or train employees. The Global Artificial Intelligence in HR market is valued $5.26 billion in 2023 and is expected to grow $10.70 billion by 2028, growing at a CAGR of 15.26 percent.
Startupcity, in this issue presents a list of ‘10 Best AI in HR & Recruitment Startups – 2023’ who have leveraged their extensive industry expertise and experience in providing excellent services. The following list has been prepared after being closely scrutinized by a distinguished panel of judges including CXOs, analysts and our editorial board.
