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01/23/2020 HRCap and Artificial Intelligence (HRCap E-Newsletter - Issue #104, January 2020)

 

HRCap and Artificial Intelligence

 

The use of Artificial Intelligence (A.I.) in HR does not mean that it will replace the "human" in Human Resources. It is meant to be used as a tool that will benefit HR and make it more efficient. The use of A.I. can reduce human bias, automate repetitive tasks, and provide real time statistics on employees.
 

As the use and effectiveness of A.I. continues to grow, more organizations are beginning to implement its technology into their workplace. According to the annual study done by the National Association of State Chief Information Officers (NASCIO), Gran Thornton LLP, and CompTIA, 65 % of CIOs from 49 different states see Artificial Intelligence as the most impactful emerging technology in the next 3 to 5 years. In comparison, only 29% viewed A.I. as an impactful emerging technology from the same survey back in 2017. 

 

Data sourced from 2019 State CIO Survey / Graph by HRCap

 

HRCap has stayed on top of this trend by investing in an HRCap A.I. Research Center in South Korea. We have engaged A.I. subject experts, law makers, and industry leaders to design an A.I. system that will transform the standard recruiting process and significantly influence and benefit our clients. We have worked with industry experts who can forecast the rising trends of each market, engaged A.I. leaders who are developing algorithms, and partnered with law makers who have been influential in getting the most recent Data Privacy and HR Labor Laws passed in South Korea. 
 

For this project, HRCap will leverage our unique history of data sets to develop the A.I. algorithm. The data collected will come from various internal sources within HRCap that will allow the A.I. to learn and adapt to how HRCap functions in the recruiting world. With enough data, the A.I. will recognize why a placement was successful, how the placement was achieved, and what can be done to replicate the success. Any personal information that can identify an individual will be omitted when developing the A.I.
 

The following is the current set of data that HRCap has collected throughout its history. This data set provides insights into hiring trends, job preferences, and success rates and how they relate to the recruiting process.

 

     - 25+ GB of internal HR training data
     Internal training data related to recruiting (sourcing, communicating, negotiating, interviewing, 
     feedback). The information obtained from the training data will teach the A.I. on the recruiting
     method
 of HRCap and recognize its strengths and flaws.

 

     - 200+ GB of raw server data (internal system/database)
     The internal system/database contains information regarding different candidate resumes and the
     hundreds of cases HRCap has worked on. The A.I. will be able to learn hiring trends from this
     data.

 

     - 1.7+ TB of data history (20 yrs worth)
     HRCap's data history will provide a broader look at how recruiting has changed in the past 20
     years and allow the A.I. to learn from it.

 

This A.I. project will create a system that will streamline the recruiting process. Insights from algorithms will provide recruiters with information on what works and what does not work, allowing the recruiter to learn and grow. The A.I. will adapt and conform to HRCap's style, learning how certain processes work and what the next best step will be in a case. More importantly, time consuming tasks, such as sourcing and filtering out resumes, will be automated with A.I. This will allow recruiters to dedicate more of their time interacting deeply with more candidates, enabling recruiters to make stronger client-customized candidate recommendations. 



HRCap sees a future where all non-human interaction tasks will be automated and assisted by A.I. In this age of the 4th Industrial Revolution, this investment has become the next logical step for HRCap to grow even more in this highly competitive recruiting industry. Not only will our A.I. Research Center allow HRCap to be competitive and to deliver our services with greater precision, speed and accuracy, but it will develop an effective model that can help transform the recruiting industry.



Please contact us at HRCap.AI@hrcap.com if you are interested in learning more.

 

READ THE FULL NEWSLETTER HERE: 

HRCap E-Newsletter - Issue #104, January 2020