Posted on : 2024-02-04 20:50:09
Article : Good morning Monday management solution for the TASK 279- The rise of AI, remote work issues, and competency-based hiring are just a few of the trends recruiters and talent acquisition teams must contend with.
As I have been observing present day recruitment processes I feel that using artificial intelligence technology in the recruitment process is essential for companies to stay competitive — especially in the current labour market. AI can help recruit top talent, streamline and personalize the application process for candidates, enhance the employee experience through skills matching and job alerts, save recruiters time to focus on other important tasks, and more. To make it clearer to adapt the latest technology into business we are offering few companies efforts to and results of using the AI, all for better analysis of in-demand skills for new recruitment.
1.Brother International Corporation — a premier provider of home office and business products — needed a better way to market their brand and attract talent, so they set out to use AI to promote their brand and in turn, attract quality candidates.
What they needed and fast was a career site that could showcase their authentic employer brand, personalize job recommendations to candidates, and host a conversational chatbot that would serve as site visitors’ first introduction to the company.
After their new and improved career site was up and running, they adopted a new CRM to help screen passive candidates and capture qualified leads, and they relied on artificially intelligent talent analytics that automatically applied data insights to optimize apply options for candidates.
Without this AI platform, Brother’s recruiters “wouldn’t be capturing any leads from the chatbot, similar job subscriptions, or partial applications. This type of efficiency is extremely helpful, especially for our higher volume positions in sales and marketing,” said Brother's Senior Specialist of Employer Branding, Recruitment Marketing & Social.
After just three weeks of their career site rebrand and launch of new AI recruiting tools, Brother achieved: 140% increase in completed applications, 45% increase in total page views, 40% increase in job seekers, 15% increase in returning job seekers, 25% decrease in time to fill. The truth is that when you’re hiring for one position, a large percentage of candidates will walk away without the job. But by using an AI recruiting platform to create an amazing candidate experience, they won’t forget your company or their desire to work for you if a future opportunity arises.
AI For Financial Services- AI can be used to improve fraud detection, risk management, and investment analysis in the financial services industry. For example, AI can be used to analyse credit card transactions to detect fraudulent activity.
2.JPMorgan Chase AI Case Study- One example of AI being used for financial services is the case of JPMorgan Chase. The bank implemented an AI-powered virtual assistant called COiN to help it automate its back-office operations and improve efficiency.
COiN uses machine learning algorithms to analyse large amounts of data from various sources, including invoices, receipts, and other financial documents. The platform is able to automate tasks like data entry, reconciliation, and compliance checks, freeing up human employees to focus on more complex tasks.
Since implementing COiN, JPMorgan Chase has seen significant improvements in its back-office operations. The platform has helped the bank process large volumes of financial documents quickly and accurately, reducing errors and improving compliance with regulatory requirements.
End point- Confining work to standardized tasks done in a functional job, and then making all decisions about workers based on their job in the organizational hierarchy, hinders some of today’s most critical organizational objectives: organizational agility, growth, and innovation; diversity, inclusion, and equity; and the ability to offer a positive workforce experience for people. In response, organizations are moving toward a whole new operating model for work and the workforce that places skills, more than jobs, at the center. Utilising the advanced technology of AI looks to be a good choice.
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