Mon Apr 15 2024
5 min read
AI Applicant Tracking System - The Future of Hiring
Today, we see AI in science, art, and even in the business world. What about recruitment? With the help of an AI applicant tracking system, AI technology has taken its place even in the recruitment world. Recruiters can now use AI to automate different recruitment tasks. Scroll down further to know more.
In this world of technologies, where we come across several distinct inventions almost every day, the AI applicant tracking system is one such addition. With many firms resorting to high-tech alternatives to recruit employees, artificial intelligence is crucial.
Such an ATS supported by an AI system can revamp the company's hiring process. It is a true revolution and the optimal way to conduct the hiring process. Want more insights on the same? Read on to learn all you need about AI-driven ATS in this blog.
How do you define an AI applicant tracking system?
The AI applicant tracking software is a powerful tool that helps the company expedite the overall recruitment process. It is the AI/ML technologies that are applied to improve selection among filter candidates. As a result, it enables recruiters to use the software for job postings, screening, interviews, and onboarding.
The AI usage in ATS brings about daily activities such as efficient resume parsing, communication, automated candidate sourcing, screening, and candidate tracking. In addition, the AI applicant tracking system ensures good HR management and talent acquisition. Therefore, it has become a very central part of companies nowadays.
What is the functionality of an AI-ATS?
The functionalities of an AI applicant tracking system are as follows:
- Automatically parses a resume of the candidate profiles and gathers needed data.
- The use of chatbots automates candidate communication.
- It enables better comparison of the candidates.
- It can save several hours for the recruiter, thus making him more efficient.
- Adaptive learning for understanding the company better.
- Helps companies develop new recruitment strategies.
So, these are how an AI applicant tracking system works for recruiters. Remember, the above-mentioned are not the only ones. There are a lot more functions an ATS software like Pitch N Hire performs.
Why is an AI applicant tracking system so significant?
Using an right AI applicant tracking system has multilevel benefits. If you decide to use AI in your hiring process, get ready to experience these four key benefits:
Time efficiency
Do you know that 79% of organizations today have already integrated AI into their ATS software? And that is correct!
At many levels, an AI ATS automates the recruiter's work. AI conducts activities such as screening candidates and parsing resumes, sending notifications, and communicating with candidates, everything without guidance. Additionally, a recruiter can use ATS to pay attention to management and business issues instead of clerical or routine tasks. The recruiter spares this amount of time.
Improved candidate matching
There is no better way to find the perfect candidate than to use AI algorithms. It analyzes resumes and finds the most qualified candidates among thousands. It has a better candidate matching system because of improved keyword matching, known as semantic search.
Semantic search is an advanced technology used to match keywords. In this, the AI can not only match the keywords, but it can also understand the context of the text. Thus, it can identify not only the keywords but also the synonyms to them.
Candidate screening
Screening resumes is easier with an ATS backed by AI. Most importantly, AI helps to identify the best resumes among thousands. It ranks them based on their relevancy and compatibility with the job opening. Moreover, it automatically rejects resumes that are incomplete or seemingly fraudulent.
Subsequently, this saves multiple hours for the recruiter. Further, it parses the resumes and collects the required data from the information in the resume. It consists of the skills, qualifications, experiences, etc. Thus, automated candidate screening saves multiple hours for the recruiter.
Communication
Every candidate desires a personalized message or email from the recruiter. But it is next to impossible for the recruiter to personalize each email to make it look more pleasing. An ATS system does communicate with the candidates, but it may sound too robotic and repetitive as there is no personalization.
But with an AI-backed ATS, you can send personalized emails automatically. The AI scans and analyzes social media and communication history to generate messages. So, say goodbye to boring, repetitive messages.
Having understood the benefits, let us look at the must-have features of an AI applicant tracking system.
What are the features to look for in an AI-driven ATS?
Not all AI applicant tracking systems (ATS) are the same. Every AI-ATS has one or the other feature, but there are some must-haves that no AI-backed ATS recruiting tool can miss. They are:
AI capacity
Check for the capacity of the AI in your applicant tracking system. Ensure that the AI performs what it has claimed, as claims can sometimes be false. Take a trial and check whether it can conduct AI tasks like screen candidates, resume parsing, and smart candidate matching.
Simple to use
Look out for simple and easy-to-use ATS software. That is because a complicated AI applicant tracking system is useless. It might also obstruct the user from using the ATS to its full potential.
Data security
Check the provisions for data security and other legal compliances. Data security is one of the top priorities for any company nowadays. That is because it is easy to misuse the candidate and company information if it falls into the wrong hands.
Scalability & future foreseeing
Look for a scalable AI applicant tracking system, as the company's needs can change over time. Moreover, look for an AI that can provide you with future assistance, as 41% of recruiters found it beneficial when the AI gave them valuable insights.
Thus, you must look for these features in an AI-based applicant tracking system. Further, let us take a look at the challenges of using AI-ATS.
What are the challenges of an AI applicant tracking system?
Sometimes, with great inventions come great problems. You must not think applicant tracking software is perfect only because it uses AI technology. No! The recruiters do face a few challenges. They are:
Algorithm biases
AI mainly works on algorithms derived from the company's past data or the candidate's background checks. Thus, if this data has any bias, the algorithm will automatically adopt this bias and continue the same.
A report from Harvard Business School says that candidates with work gaps and no college degree are potentially rejected by automated screening tools even when they have much higher potential than others.
Data quality and costs
The software's working depends on the data quality that the recruiter feeds. Therefore, the AI will produce undesired and wrong outcomes if the data is incomplete. Moreover, the implementation of AI in ATS is complex and may need a significant amount of investment in its initial stages.
Privacy
No matter how much an AI tracking system guarantees privacy, data security is at risk most of the time. That's mainly because the AI ATS uses candidate data, personal information, and historical background to study the pattern, leading to data security issues.
Further, let us discuss the future market trends expected for AI-ATS.
Where does the AI applicant tracking system go from here?
The recruitment software market is evolving, with multiple trends and possibilities. In this case, the AI applicant tracking system will face the following trends:
Enhanced integration
ATS software vendors will enhance the software's AI and machine learning integration in the coming years. These two technologies are vital for the automation of tasks. Hence, the next trend will be integrating AI and machine learning.
Candidate experience
Good candidate feedback is the key to maintaining a good image in the market. In this case, the AI applicant tracking tool will focus more on improving the candidate experience.
Candidate matching
The AI will focus more on skill-based matching rather than qualification-based. A candidate with fewer educational qualifications can still be equally, if not more, talented than one with more qualifications.
Security
The internet is a scary and dangerous place where you need to protect your recruitment data from getting leaked. Thus, the AI applicant tracking system will pay more attention to cybersecurity in the coming years.
Now, let us understand how we can help you with AI-driven recruitment.
Why should you trust Pitch N Hire’s ATS?
Here are some recruitment tasks you can expect Pitch N Hire’s AI applicant tracking system to do:
- Streamline hiring with its easy-to-use and AI-based functionalities.
- Provide real-time insights on the recruitment workflow.
- Help global recruiting teams build their own branded career pages.
- Give recruiters access to the candidate pool to recruit candidates.
- Enable hiring teams to schedule candidate interviews and assessments.
Conclusion
AI applicant tracking systems are the next big thing in hiring, and they will revolutionize this process not only in America but also globally. Congruently, recruiters must choose the right candidates in this situation. Would you like to ensure you choose the right software for your business? Go for Pitch N Hire, With our AI-driven ATS software, you can not only hire good candidates but also differentiate yourself in the job market.
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