Blog ▸ Employers ▸ AI Bots are the future of recruitment this 2022

AI Bots are the future of recruitment this 2022

By Vahid Haghzare, Director Silicon Valley Associates Recruitment &
Armae Garcia, Marketing Associate, Silicon Valley Associates Recruitment

One of the top IT Recruitment Agencies in Shanghai, Dubai, Hong Kong, Japan, Singapore, and Shenzhen, SVA Recruitment is an IT and employment agency that provides jobs, executive search, and recruitment services.

In the face of initial fears that the digital age would lead to massive unemployment, it has instead led to more jobs. Today, keen content assistants are needed to bridge the gap.

As the pandemic makes the talent shortage more critical, Silicon Valley Associates Recruitment is determined to embark on the company’s perception on the regeneration of AI-driven for its daily business operations typically done by human employees.

This year, it is anticipated by experts and IT recruiters that businesses will face a string of unprecedented obstacles that coexists with the occurring pandemic including a severe lack of qualified workers, supply chain issues, increasing energy costs, salaries, and labor shortages.

Our clients from Hong Kong, Shanghai, Singapore, Japan, and Dubai can only think of one possible solution to surpass these hurdles - AI Bots; companies will have to rely on high quality, low-cost Artificial Intelligence to narrow the workforce gaps.

According to recruitment experts, the third-highest rate of resignations in Asia in professional and business services was in November.

From CEOs to frontline workers, staff members have been let go as businesses evaluate their financial options and priorities. The teams that move forward will experience greater pressure.

1. AI as a solution to the financial fallout

Many companies are losing out on valuable business because they lack the organizational capacity to adequately process necessary paperwork and data to execute their goals. And companies that continue to overwork their remaining loyal employees put these workers at risk of leaving the company and taking vital skills with them or leaving to entirely pursue more flexible lifestyles.

After the pandemic, it will be normal for employees to not work at full capacity until they have had time to readjust to their newly altered work-life balance. AI is proving increasingly useful in a number of areas, including strategic decision-making.

In 2021, global expenditures on artificial intelligence were forecasted to increase from $85.3 billion to $204 billion over the next five years as organizations in all sectors seek new insights into their customers and optimize employee efficiency.

In the past, company leaders were hesitant to speak frankly about artificial intelligence technology for the fear of disrupting employees.

By 2022, the reality is that many (not all) people will want to do different sorts of jobs.

Companies with large workloads, unhappy customers, or large piles of unprocessed invoices may find that artificial intelligence is a timely solution.

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2. Wise usage of limited resources

Technology has advanced beyond robotic process automation, which involves the use of basic form-filling or simple content lifting.

Businesses can maximize the use of smart AI assistants to assist knowledge workers and teams in finding and feeding them more of the information they need across the company.

For instance, Accountants can use AI to gather, validate and analyze incoming tax documents, convert data into a structured form, perform analytics, and report on inconsistencies.

As head of sales, you would have a better understanding of the customer's situation if your staff could use data gained from Legal, Accounts, Customer Service, and other departments.

Telesales representatives can be efficient at reaching many customers, but a customer-service bot could reach across all of your existing customer knowledge to present the equivalent value of new opportunities without the distraction of having to follow up with individual customers.

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3. AI in self-service portals

Artificial intelligence (AI) is already blending with smart content and process automation to bring significant gains.

Many kinds of organizations, such as Enterprise, legal, and human resources departments can better serve customers and clients by taking advantage of bot-enabled process automation, which increases productivity and improves the user experience.

More and more companies, governments, businesses, and organizations are switching to self-service portals, allowing partners, customers, and employees to do things such as register, manage claims, and manage their accounts without having to interact with a human being. And AI is behind all these data and resources.

Companies increasingly rely on automated processes to find, extract, and process important information stored in attached documents.
An artificially intelligent system can easily sort through contracts, letters, and invoices; it can extract field information and determine how to proceed.

High-frequency trading systems scan markets in real-time and make trades based on pre-programmed algorithms or signals. Such high-frequency activity was once done by humans.

Legal and risk departments in large enterprises often lack the capacity to review contract obligations, maintain compliance with their employer's policies, and minimize their financial exposure. Artificial intelligence bots that can monitor contracts and other legally binding agreements can provide practical, low-cost solutions to these problems.

Knowledge workers such as researchers, writers, editors, scientists, and business professionals need to spend their time wisely; they cannot afford to waste it.

As AI technology is honed by teams with experience using it and as managers gain trust in it, the potential for AI to reshape business processes will grow.

The addition of voice-based search options would save team members time by making automated inquiries easier.

4. Plan your recruitment strategically

Fortunately, business owners do not need to create their own artificial intelligence solutions.

Today, deep learning engines—software that enables AI systems to learn from data—next-generation statistical analysis tools, natural language processing—an approach for computers to understand human language—and image analysis capabilities are accessible via the cloud. Such tools are often employed through the expertise of software and process specialists, who apply cloud-based services and techniques to specialized business use cases.

For businesses, the challenge is deciding how to use the technology most efficiently in order to address real pain points and achieve quick wins.

After businesses have established what they are looking for, they can begin to search the market and find an example or two of what they have been thinking about.

Failure to adopt new technologies or processes can result in a business's inability to compete effectively in challenging business industry.

Considering the increasing use of artificial intelligence in the workplace, companies can use AI bots as candidates for future recruitment tactics.