Technology is changing the way we operate and function. AI/ML is playing a major role in bringing this change in every domain be it HealthCare, Marketing, Financial sectors. Its inception is somehow slow in Human Resource domain, but it is slowly taking over by understanding the power of AI/ML. It’s not only helping people to do their jobs but also can replace them where it’s needed to give HR employees more time to focus on more important tasks.
With the advent of ML algorithms in the HR domain, the expectations from HR managers have increased and are now being focused to predict attrition and candidate success in the organization. In addition, the improvements in Natural Language Processing, have already enabled bots or intelligent chatbots to handle several HR functions.
Following are some of the areas where ML is being used in the HR domain are:
- Recruitment – Candidate sourcing, Hiring process automation
- Learning and Development – Onboarding process
- Performance Management – Capacity predictions and predicting performances
- Risk Management – Retention and Attrition analytics
We at smartData Enterprises (I) Ltd are putting our step forward to develop AI/ML models to cater to some of the above implementations. We have developed ML models which help HRs to parse thousands of resumes in a short time and simultaneously allow them to perform a search on the same based on the skills required from a web-based interface. A video conferencing tool also complements them to perform the video-based hiring. Bots alias automated scripts are being developed to automate the interview scheduling process.
Having said that, with the availability of huge datasets have developed models to analyze the data and make predictions on monthly attrition forecasting.