When it comes to deciding between developing AI tools v.s recruiting people, most of them will have their different opinions and some may be neutral.
Company analysis never gets wrong; their research team never fails out. As per the report published by McKinsey, an American management consulting firm reported, AI technology will be used by 70% at the end of 2030. It clearly shows that the majority of the companies including startups will adopt AI technology on a large scale.
– According to the report published by Dell Technologies, it states that 85% of the jobs that will exist in 2030 haven’t even been invented yet. It indicates the job will be futuristic and more advanced.
– Forbes reported, approximately 65% of companies have not seen business gains from their AI investments.
– Facebook CEO, Mark Zuckerberg said on CNN Business that, 50% of Facebook employees could be working remotely within the next five to ten years.
Artificial Intelligence is a big platform where every company sooner or later wants to digitize their platform. Today, things are changing the way we think about technology. From fraud detection to personal voice assistants like Siri and Google Now. AL and Machine Learning are going through a period of significant acceleration. AI is no more science fiction, it’s a technology where we can change and develop our living.
Introduction to AI Tools for Recruiting
Artificial Intelligence tools are aggressively taking up the market space from recent times. If we turn the pages, AI has existed from the 1980s, but in recent years it shows the tremendous growth of technology and its tools. The intelligence of Artificial Intelligence is demonstrated by machine and is more likely to create a simulation of the human intelligence method.
Industry’s Best Artificial Intelligence Tools
The discussion of AI has always been a topic for industries. Biggie’s tech companies, such as Google, Facebook, and Amazon are already developing AI tools and contributing in the form of Open-source AI tools.
Before we move forward lets us discuss some of the most used AI tools that are used:
1. Amazon Web Services
AWS is one of the most popular and more effective tools for enterprises and startups. It offers the deepest set of tools for your business and creates impactful ML solutions faster. Amazon Web Services is the most used cloud platform than any other cloud service. Ultimately AWS offers machine learning services that customers can use to stay away from over-head connected with the in-house generation of AI conditions.
The ML (Amazon) stretches out the direction that permits fewer techs-to smart clients to create AI aptitudes. Amazon portrays it as a “profoundly adaptable” asset that can give endless efficacy over a web-conveyed stage. Customers can similarly utilize Apache Spark and apply it to Amazon EMR for Hadoop-related usage. This includes utilizing a range of Apache open-source devices to make a customer’s ideal expediency.
Furthermore, AWS Lex is the open-source tool behind Alexa, a personal assistant from Amazon. This technology allows developers to integrate chatbots into mobile & web applications. AWS Polly, on the other hand, automates voice to written text in 24 languages and 47 voices simultaneously.
Caffe is a deep learning structure made with enunciation, speed, and measured quality as a top primacy. It is formed by the Berkeley Vision and Learning Center (BVLC). Google’s DeepDream depends on Caffe Framework. The structure is a BSD-authorized C++ library with a Python interface intact.
3. IBM Watson
IBM, the technology giant has developed one of the high-tech AI capabilities named IBM Watson. Several industries like oil & gas, financial, IoT, etc. have adopted the technology of IBM. Developers use IBM Watson to build their AI applications; it is open-source for any cloud environment. It expedites the development of your AI application.
IBM Watson offers the following to accelerate your AI app development:
– It has developer tools like SDKs and provides detailed documentation for developers.
– You can integrate the Assistant to build AI-powered conversational interfaces into your app.
– It has Natural Language Processing (NLP) capabilities, and it’s known as Watson Natural Language Understanding (NLU).
– Developers can also use IBM Watson Speech to Text capabilities when you build on the Watson developer platform.
4. Infosys Nia
Nia is developed and created by Infosys, is an AI-powered platform that allows you to build AI-powered apps. It offers the following AI capabilities:
– Machine Learning: Nia Advanced Machine Learning offers a broad range of ML algorithms that operate at speed and boost productivity.
– Contracts analysis: Nia contracts analysis capability includes Machine Learning and deep learning.
– Nia chatbot: It facilitates to build chatbots with Nia, and your app can provide access to the enterprise knowledge repository. The app also automates actions through a familiar interface.
Why Recruiting People through AI is Best Practice?
In the next 5-10 years, the technology will be on another high-level and we are moving towards the age of digitalization. The answer is both (Yes and No) because several studies revealed that those who have adopted the AI facilities, they don’t get much in return. Technology has undoubtedly developed and advanced the working system and culture, but when it comes to profit or returns, there is not much growth observed.
Whenever an entrepreneur makes a decision, he analyzes the future situation and conditions. Everyone wants to invest in those businesses, where they expect higher returns and the current situation might not be much in favor of developing AI tools for those businesses established in Asian markets. On the other hand, for western countries- the scenario is different, where the technologies are growing rapidly at pace and companies are relying on tools and technologies for work fulfillment. The companies in the western market should invest and make a wise decision to invest in developing AI tools rather than recruiting or maximizing the workload of employees.
In developing nations, where startups might not transform immediately into AI but large and established companies should target the future and safeguard their interest. Reputed brands should invest in AI platforms in the recruitment process, which is a less time-consuming process.
Should You Invest in Artificial Intelligence Now?
Well to answer this, you have to check the market situation of your country. You get the full advantage of technology when technology is wide-spread used. It is a bitter truth that AI and Machine Learning will take place in the future; these technologies might cost you if you don’t have a budget. But if you’re running an established brand, then this is the right time to shift gears and adopt the future.
The technology builds the platform where it minimizes errors and adapts the ecosystem of the organization by predictions. But on the other side, these machines cannot solve complex problems just like humans. We have not yet developed the technology where they can understand the problems in detailing. The technology responds only to those things which have been installed (data).
Whether it is a small or large scale industry, sooner or later the AI platform will replace the existing models. If you are looking out to do business till 2025, then it is safe- if you adopt the AI recruiting process. Because developing AI tools for recruiting is a complex and time-consuming process, only the big tech companies have stepped in.
Otherwise, if you want to run a business for a long time or if you want to be updated with the latest technology then this is the right time to upgrade and research into AI tools for recruiting.
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