IBM Using Blockchain And AI To Find Knowledge Economy Workersbr>
IBM has recognized that AI has become one of the most prominent tools for modern businesses and with this in mind that have set forth to provide support and education for companies of all sizes through its IBM Talent and Transformation offering, allowing them to get more out their AI solutions.
Systems such as IBM Watson have a myriad of uses when it comes to the utilization of AI within a business, however for the purposes of this article, I wish to talk about how IBM’s retraining will aid company’s HR and recruitment departments to get the most out of this tech and build a culture of AI-savvy employees.
AI retraining has become essential in the HR and Recruitment sector because companies and their employees have not been using this technology to its full potential. By specifically targeting HR departments, IBM is giving companies the tools to hire employees ready for an ever-changing work environment. Let’s look at a few examples:
Shortlisting – To this day, major companies are still busy analyzing resumes, conducting database searches, or working their way through LinkedIn to find talent. The reality is that artificial intelligence can perform far more of the shortlisting tasks needed with a higher level of accuracy if the inputs of the query are better predefined. Hence where the training comes in around the sorts of queries or even job specification that should be listed into the system, to allow the AI to find the best candidates for you. The moral of the story is: bad inputs result in bad outputs and good inputs result in good outputs.
Retention – Most companies do not realize the depth AI goes into when it comes to analyzing both potential and current employees. By using existing employee records, databases of previous employees records, and resume databases, AI can accurately predict the career path of an employee to know when they may be ready for promotion, or when they may even look to leave the business. This sort of information can arm an HR department with everything they need to increase retention and save the business a considerable amount money. Again, it all goes back to the inputs that the AI has and if they are properly programmed.
Speed to Hire – Using blockchain technology coupled with AI, you can drastically increase the speed to hire by creating information touch points during the application process that the machine can insure are accurate and true.
Culture Fit – AI can now analyze so much more data about a candidate or a current employee through social media to determine the personality profile of a person. Sentiment analysis can allow companies to better place personality groups together and get more out of teams.
Currently, most companies are just using AI in the background, in autopilot using limited levels of matching functionality to aid the hiring process, but as IBM knows, its technology can do so much more than that. The advancements for HR and recruitment alone will allow businesses to get much more value and rely more greatly on the power of artificial intelligence.