In the quickly changing employment market of today, your application can be rejected before it is even seen by a human. Businesses in a variety of sectors are using generative AI and other artificial intelligence tools more frequently to expedite their hiring procedures.

These solutions help with talent sourcing, skills evaluation, resume screening, predictive analytics, and bias reduction, according to an ET study. In certain scenarios, managers receive assistance from GenAI bots during the interview process, while in others, human intervention ends at that point.

HR professionals argue that artificial intelligence (AI) is expediting and streamlining the recruiting process, despite worries about data privacy, possible discrimination, and the incapacity to identify latent potential in applicants.

The professional services company Genpact has unveiled IMatch, an internal GenAI-powered resume parsing and job-matching engine.

"AI tools, which cover 40 percent of new hires, have made the hiring process touchless till the interview stage," stated Ritu Bhatia, global hiring leader at Genpact. According to Bhatia, the usage of AI has shortened the hiring process from 62 days to 43 days and increased recruiter productivity by 15%.

AI technologies give businesses important insights into the availability and demand for talent, as well as past data, market trends, and internal talent metrics. They may use this information to create recruitment strategies that will effectively meet their present and future talent demands.

For more than a year, the edtech business Simplilearn has been using ChatGPT and other AI technologies to create competency exams, deliver psychometric testing, and simplify job descriptions. The chief HR officer of the organization, Archana Krishna, states that "this enables us to reduce time on mundane tasks and improve productivity and efficiency."

Recruiting services business Peoplefy's CEO, Rajesh Bharatiya, said GenAI-based solutions assist personalize the process by, for example, sending recruiting mass mailers that are customized to each candidate's history and experiences. He stated, "Such customisation may require 10 times more time to customise manually."

A GenAI bot is used by infrastructure development business Welspun Enterprises to help executives with interviewing candidates. Chief HR officer Rajesh Jain stated, "Hiring efficiency has significantly increased. We had a 15% selection ratio prior to employing the GenAI bot for interviews. Now that this rate has risen to 55%, my selection rate has grown by 40% over night," highlighting the importance of this change.

Experts warn that, despite the advantages, utilizing AI in recruiting procedures at this early level of development has significant disadvantages. These worries include the possibility of discrimination, algorithmic transparency, and ethical issues related to data privacy. Furthermore, AI could not be able to assess interpersonal skills, accentuate prejudices, or recognize potential in applicants.