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AI in Recruitment Statistics (2022)

Nov 23, 2022

Top AI Statistics in Recruitment

  • 24% of corporations utilize AI to rent talented employees.
  • In line with a poll, 86.1% of recruiters, using AI technology have sped up the hiring process.
  • 68% of recruiters think using AI within the recruiting process will eliminate unintended bias.
  • Overwhelmingly, 89% of HR professionals consider that AI will improve the applicant application process.
  • Nearly all of businesses, 92% of that are luxury labels, claim they use or are utilizing recruiting tools.
  • Greater than 90% of people consider that some form of manipulation is feasible with artificial intelligence. Only 9% of people think AI is sophisticated enough to be unmanipulated.
  • AI is reportedly utilized in the hiring process by 65% of recruiters.
  • Only roughly 7% of individuals can be unhappy in the event that they were recruited by AI as a substitute of an individual, and 76% can be OK with it.
  • Greater than 87% of people consider that AI is more helpful for hiring in certain industries than in others.
  • In line with 35% of talent experts and recruiting managers, AI in talent recruitment is a very powerful development influencing how they hire.
  • Only 10% of companies now use AI to search out applicants, while 36% wish to automate their hiring procedures using AI ML in the subsequent two years, based on a Carmichael Fisher survey.

 

Market Size of AI in Recruitment

From difficult capacities to integrating latest programs and optimizing procedures, AI has the potential to have an incredible influence on the recruiting business. Typically, it strives to bring together human and artificial intelligence with a view to advance the reason for development. And for this reason, the “AI Recruitment Market” is anticipated to expand significantly between 2022 and 2028.

By 2028, it’s predicted that the market size for AI recruiting will increase to USD 890.51 million (Facts & Aspects)

Facts and Aspects projects that the worth of the worldwide AI recruiting market will rise from USD 610.3 million in 2021 to USD 890.5 million in 2028, expanding at a CAGR of virtually 6.5% throughout the forecast period.

Where is AI Utilized in Recruitment?

How can recruiters discover methods to make their lives simpler and their duties more bearable when there are such a lot of people vying for a much smaller variety of positions? Artificial intelligence (AI) has the potential to be useful in situations like these.

Within the strategy of recruiting latest employees, 58% of recruiters that use AI have found that it’s most useful for sourcing candidates (LinkedIn)

58% of the recruiters who used AI within the recruiting process found that it was most helpful with sourcing candidates; 56% of the recruiters who used AI in hiring found that it was most advantageous in Screening Candidates; and 55% of the recruiters who used AI within the recruiting process found that it was most helpful in Nurturing Candidates.

How is Artificial Intelligence Utilized in Recruitment?

Automation made possible by AI helps recruiters to shift their focus to the applicant and reduces the potential for bias within the hiring process. They can improve the standard of their recruiting decisions by massive data collections from the talent market and maintaining regular communication with prospects. For this reason, employers are actually in a position to more accurately represent applicants.

92% of human resource professionals wish to use AI within the strategy of talent acquisition (eightfold.ai)

In line with a recent study conducted by Eightfold AI, change agents in HR are increasingly embracing the potential of AI to assist them make better-informed personnel decisions at scale. Actually, 92 percent of companies have plans to expand their use of AI in at the least one sector of human resources (HR), which can include recruiting process, management procedures, the processing of payments, and the onboarding of newbies.

HR executives are using artificial intelligence in:

Advantages of AI in Recruiting

AI is an investment that not only provides an ideal value but has minimal ongoing costs. It’s powered by algorithm-based programming that could be tailored to assist recruiters in meeting the high recruiting needs of their respective firms.

Almost 67% of HR experts think AI has several benefits and a helpful effect on the hiring process (Tidio)

Individuals consider that artificial intelligence will save the recruiter’s time, making it simpler for the recruiter to do their work and provides significant insights throughout the recruiting process.

42% of recruiters consider that artificial intelligence will make it possible for them to work more strategically (Aptitude Research)

Artificial intelligence doesn’t look like a priority for recruiters anymore (AI). In line with the report, 42% of recruiters think AI will enable them to operate more strategically. In line with this survey, recruiters are adopting AI. It makes them more practical and enhances the applicant’s experience.

Benefits of AI automation in recruitment

Way forward for Artificial Intelligence in Recruitment

Evidently AI HR software is prone to play a big role in the longer term of recruitment, which guarantees to be an interesting development.

In line with 84% of corporate executives, artificial intelligence (AI) is the trend that can enable them to take care of their competitiveness and gain an edge within the job market in the longer term (Forbes)

In line with research published by Forbes, business leaders consider that artificial intelligence (AI) is the trend that can help them to retain their competitiveness and acquire a bonus within the job market in the longer term.

By 2030, there can be 6 million enterprises utilizing recruiting software globally, up from the present use of over 4.8 million (SkyQuest)

Recent research conducted by SkyQuest indicates that demand for recruiting software is on the rise. Greater than 4.8 million enterprises throughout the world are already making use of recruiting software, and it’s anticipated that this figure will rise to six million by the 12 months 2030.

AI in Recruitment Final Words

Nevertheless, using such AI-based technologies, that are in a position to conduct competency-based interviews in a correct manner, removes any possibility of human bias from the choice process. That is the target for many individuals researching the problem of using machine learning in HR and recruiting. And going even further, AI may assist in overcoming the difficulties posed by the employment environment that’s now undergoing rapid change.

References

  • Staff, V. (2022). Report: 92% of HR leaders plan on using AI to accumulate talent. VentureBeat. Retrieved 1 October 2022, from https://venturebeat.com/ai/report-92-of-hr-leaders-plan-on-using-ai-to-acquire-talent/.
  • Talent Acquisition. Eightfold. (2022). Retrieved 1 October 2022, from https://eightfold.ai/products/talent-acquisition/.
  • F.hubspotusercontent30.net. (2022). Retrieved 1 October 2022, from https://f.hubspotusercontent30.net/hubfs/2313282/Downloads/Recruiting%20in%202022.pdf.
  • Spanjaart, J. (2022). Friday Fact: 73% of corporations want to speculate more in recruitment technology in 2022. Recruitmenttech.com. Retrieved 1 October 2022, from https://www.recruitmenttech.com/friday-fact-73-of-companies-want-to-invest-more-in-recruitment-technology-in-2022/.
  • Lisowski, E. (2022). Artificial intelligence in recruitment – how does it work in HR? (update: September 2021). Addepto. Retrieved 1 October 2022, from https://addepto.com/blog/artificial-intelligence-in-recruitment-how-does-it-work-in-hr/#.
  • Stefanowicz, B. (2022). AI Recruitment: The Way forward for Hiring or HR’s Nightmare?. Tidio. Retrieved 1 October 2022, from https://www.tidio.com/blog/ai-recruitment/.
  • Study on Global AI Recruitment Market Size to Hit US$ 890.51 Million, at a CAGR of 6.5% by 2028. Facts and Aspects. (2022). Retrieved 1 October 2022, from https://www.fnfresearch.com/news/global-ai-recruitment-market.
  • (2022). Retrieved 1 October 2022, from https://www.analyticsinsight.net/how-ai-can-be-time-and-budget-saving-in-recruitment/.
  • Case, T. (2021). Covid ‘forced us to be creative’: How AI is getting used to recruit and onboard talent. WorkLife. Retrieved 1 October 2022, from https://www.worklife.news/technology/ai-is-being-used-to-recruit-and-onboard-talent/.
  • Helfrich, T. (2022). Council Post: How To Scale Your Business With AI. Forbes. Retrieved 1 October 2022, from https://www.forbes.com/sites/forbestechcouncil/2022/03/16/how-to-scale-your-business-with-ai/?sh=20d06f7842bc.
  • Global Recruitment Software Market to Hit $3.85 Billion by 2028 | Small Businesses to Offer Lucrative Growth Opportunity While AI to Shape the Future. GlobeNewswire News Room. (2022). Retrieved 1 October 2022, from https://www.globenewswire.com/news-release/2022/08/18/2500871/0/en/Global-Recruitment-Software-Market-to-Hit-3-85-Billion-by-2028-Small-Businesses-to-Offer-Lucrative-Growth-Opportunity-While-AI-to-Shape-the-Future.html.
  • The 4 Trends Changing How You Hire in 2018 and Beyond. Linkedin.com. (2018). Retrieved 1 October 2022, from https://www.linkedin.com/business/talent/blog/talent-strategy/trends-shaping-future-of-hiring.
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