Artificial Intelligence (AI) is transforming numerous aspects of business, and human resources (HR) is no exception. With the help of AI, HR departments can optimize recruitment processes, identify top talent, and create a diverse and inclusive workforce. Generally, the first step in talent acquisition is identifying the skills and experience required for a job. AI can assist in this process by analyzing job descriptions and identifying the most relevant skills and qualifications needed for a specific role. This can save HR departments time and resources by streamlining the recruitment process and ensuring that only qualified candidates are considered. AI algorithms can also analyze resumes and job applications, sorting and prioritizing candidates based on their qualifications and experience. One of the most promising applications of AI in talent acquisition is the use of chatbots, which can conduct initial screenings and answer candidate queries, freeing up HR staff to focus on more complex tasks. Overall, the AI in Recruitment market was valued USD 580 Million in 2019, and is estimated to grow at a CAGR of 6.76% during the period of 2020-2025, according to data published by IndustryARC. Professional Diversity Network, Inc.
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Additionally, diversity and inclusion are essential in every aspect of business, and HR departments play a crucial role in creating a diverse and inclusive workforce. AI, for example. can help HR departments achieve this goal by reducing unconscious bias in the recruitment process. By analyzing job descriptions and resumes, AI can identify biases and provide suggestions for more inclusive language and criteria. One example of AI utilization in HR is the use of predictive analytics in recruitment. Predictive analytics can help HR departments identify the best candidates for a job by analyzing data from past hires. The algorithm can identify the factors that led to successful hires and apply that knowledge to new recruitment processes. This can significantly improve the quality of new hires and reduce turnover rates.
Professional Diversity Network, just announced breaking news regarding, “the acquisition of additional 7% in RemoteMore USA Inc. on April 28, 2023After the transaction, PDN’s ownership position in RemoteMore will increase to approximately 73%.
RemoteMore has been working on an artificial intelligence (AI) solution that improves the matchmaking between companies and developers. Since 2021, RemoteMore has added several new features to its platform, such as a job dashboard that permits employers to request developer profiles according to their very specific requirements, resulting in the employer getting five pre-qualified candidates hand-picked by the RemoteMore Service team. RemoteMore has already released AI features that automate parts of this matchmaking process, resulting in a superior quality service at a lower labor cost.
The RemoteMore AI-powered matchmaking tools will make the company’s offering even more exciting to employers who are seeking to hire qualified developers. Delivering a high-quality matchmaking experience at scale is an important competitive advantage given the confusingly big candidate pool that remote work unlocks for companies. RemoteMore has already pre-screening data for over 24,000 remote developer profiles (such as professional history, remote work fit and technical skills) which is a strong foundation for further automation and AI development.
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During the first three quarters of 2022, RemoteMore increased the number of its registered company users from 650 to 1,500, and its pre-screened pool of developers from 6,300 to over 24,000. As the demand for sophisticated software developers grows, and the number of AI-powered tools continues to expand, the need for high quality matchmaking at scale will only increase.
“Integrating an AI-powered tool to ensure that the best fit applicants reach our employer clients is the logical next step,” said Boris Krastev, CEO and Co-founder of RemoteMore. “These tools have grown in popularity in recent months. Our strategy is to be proactive when it comes to the adoption of new technologies that can revolutionize our industry.”
“AI-powered tools are some of the most impressive technological developments in recent years and their popularity is only growing,” said Adam He, CEO of PDN, “The momentum in the AI space has been tremendous and we want to be able to leverage this technology within our diversity recruiting operations as well, thus providing the synergies we had envisioned when first acquiring an interest in RemoteMore.”
HR Technology News : HR Technology News : HR Technology Highlights – HR Tech Daily Round-Up For 27th April 2022
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