Thursday, 18 April 2024

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Business News

Indeed introduces AI to automate recruiting with ‘Smart Sourcing’ tool

Indeed introduces AI to automate recruiting with 'Smart Sourcing' tool

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Professional job-seekers are having a tougher time in today’s market—it’s taking longer to get hired or even get a callback since the heady days of the post-pandemic Great Resignation, while large employers are open about their desire to cut costs, including among formerly insulated executives and middle managers. 

But in a still-booming economy where consumers are going strong, companies can’t avoid hiring humans to meet increased demand. And now Indeed, the biggest job-searching site, is calling on AI to make that job easier.

“It takes more than 50-plus days—you heard me right, 50-plus days—on average, to hire for a role,” Rajatish Mukherjee, executive vice president and the head of Indeed’s employer-facing division, told reporters this week, unveiling the company’s new offering that promises to use AI for everything from filtering candidates for open jobs to writing outreach messages. 

“Gone are the days of manually searching and scrolling through a list of applicants,” Mukherjee said.

The system, dubbed “Smart Sourcing,” is designed to identify active job-seekers (for instance, surfacing candidates who recently updated their profiles and have clicked on job postings); serve up potential matches for job postings, complete with an AI-generated list of highlights demonstrating why a person is a good fit; draft outreach messages; and automate scheduling processes. 

Employers can pay between $1,150 and $3,840 per year to use Smart Sourcing (the lower figure is for occasional hiring). In test runs, Indeed said, employers save six hours a week with Smart Sourcing.  

Mukherjee has seen the benefits himself, saying, “It’s taken me like 45 minutes to an hour to craft a really good message to a potential candidate, because I really want them to answer.”

The technology couldn’t come at a better time, as recruiters—those very employees tasked with sourcing and hiring new employees to grow a company’s ranks—are themselves being cut at an alarming pace. Google, for instance, cut hundreds of recruiting employees in multiple rounds of layoffs last year. Amazon jettisoned many contract recruiters, and Meta’s 11,000 job cuts in 2022 disproportionately affected the recruiting and business divisions. Indeed itself cut 2,200 workers last year, according to CNN.

Indeed has a solution for job-seekers, too, offering an AI tool that will generate a fluid and captivating work-history summary for…

Click Here to Read the Full Original Article at Fortune | FORTUNE…


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