Increasingly prevalent in the business world, artificial intelligence (AI) may be causing some business owners to wonder how they can use it to improve their operations.
For business owners who want to expand, staying up to date with the latest technology is crucial. The average small business or startup may think that implementing AI is only for large corporations.
It's good to know that artificial intelligence is more than robots. Many software tools already use AI, including those you use daily. Businesses of any size can benefit from these existing tools by improving internal processes, reducing costs, and achieving their goals.
To help you better understand how AI for recruiting fits you, we created this definitive article on what AI recruiting software is and how it can automate your workflow to more effectively engage, screen, and assess candidates.
What is AI recruiting software?
Artificial intelligence is a part of the modern recruitment tool. This section of AI recruiting software eliminates the number of manual tasks. Also, the general aim of this technology is to streamline the hiring process. This is achieved through automating some parts of recruiting workflow, especially with tasks that need to happen continuously.
IDC FutureScape 2020 predicts that in three years, 47% of the services that organizations receive will deliver via a mix of AI-enabled and non-AI-enabled automation. For example, instead of manually entering every new candidate, recruiters will use the resume parsing section of AI recruitment software that automatically gathers all the information from a candidate's resume and adds a new profile into the system.
How are companies using AI for recruitment?
Employers may use AI in recruitment to find quality talent to help your business grow in 2022-2023. And the best part is that it becomes increasingly popular among employers and hiring managers yearly.
Even though AI is far from matching human intelligence, AI-based tools are useful for making informed HR decisions. Additionally, the tools are flexible and provide plenty of opportunities to automate hiring processes and store organizational data.
AI in recruitment allows to:
- Impact the business model in a positive way;
- Tackle segments with higher recruitment needs;
- Make unbiased decisions;
- Integrate analytics;
- Save time and money.
Companies serve AI in recruitment in various ways. Recruiters can take decisions and make recommendations due to AI in many parts of the recruitment process.
Collecting deserving talent in the talent pool can be faster with the help of recruiting tools. According to the survey, recruitment software offers the following benefits:
- 78.3 % say it has improved the quality of candidates they hire.
- 86.1 % say using an applicant tracking system has increased the speed at which they hire candidates.
So, here are some ways and areas of recruiting made possible by AI.
Intelligent screening of candidates
When you post a job to various platforms, you receive thousands of applications. Recruitment software that integrates AI will help you screen every candidate, regardless of how many. By using AI recruitment, you can ensure that the candidates you hire to meet the most of your expectations.
It is necessary to perform some tasks regularly during the workday. Keeping track of employees' hours, calculating overtime, and updating reward points are just a few responsibilities. AI in recruiting software can automate repetitive tasks. In addition to saving time, AI is notable for its accuracy, which in many tasks is much higher than human ones.
The rediscovery of candidates on database
If there are many candidates in your database, your recruitment software will not be able to identify the best candidates. To present you with the best candidates, AI recruitment will look at your list and analyze it based on your requirements.
Thus, you can choose the best talents without posting a job advertisement for open positions. Using AI in recruitment, you can retrieve all your documents in the software and analyze every detail to identify the best candidates.
Availability of chatbot
In most recruiting software, communication is done via phone calls or videos. Furthermore, AI can determine whether someone is a good fit for your company. Because chatbots embedded in AI can analyze every candidate and tell you their capabilities professionally. So, you must find the best AI for recruitment software.
Organize your employees effectively
When you set your quality standards, AI can determine your employees' efficiency and effectiveness, so you can tell if they aren't performing to your expectations. By conducting such an analysis, you can retain only the best employees. Be sure to let your employees know you are always aware of their input to the company, and they will appreciate you. With AI recruitment, you can retain your best talent and acknowledge your employees' hard work.
What are the key features of AI recruitment software?
Advanced recruitment solutions help organizations find and hire top talent in the competitive talent war. Some of these advanced solutions for recruiters rely on AI tools. Here are some key features of recruitment tools powered by AI:
Because sifting through resumes can be time-consuming, particularly when there are many applicants for a single role, it will be useful to provide resume parsing provided by AI tools, which allows recruiters to seamlessly extract key information from resumes, such as work experience, educational qualifications, and key skills relevant to the role.
It could cut down the hours of repetitive efforts and help identify potential red flags, such as employment gaps or inconsistent job titles, thereby accelerating the overall efficiency of the recruitment round.
The output of a recruitment session is greatly accelerated when the job poster contains concise, clearly-defined content. By analyzing the language used in successful postings, AI-based tools can help create new postings that attract top candidates more effectively. Keywords and specific skill sets can also be identified using AI tools. Additionally, it allows recruiters to track changes in the job market and provide recommendations for updated postings.
By integrating an Applicant Tracking System (ATS) with the software, recruiters can identify the most qualified candidates and flag applicants who may be a poor fit for the position.
On top of that, ATS integration can help the software assess a candidate’s cultural fit and the likelihood of success in the role, thereby increasing hiring credibility and accelerating candidate discovery.
AI tools use analytics to identify potential candidates and provide data-driven insights into a candidate’s skills, experience, and fit for a role.
This allows recruiters to generate a list of qualified candidates quickly and also provides the ability to find “passive” candidates who may not be actively searching for new job opportunities.
In terms of interview management, AI-powered tools help identify patterns in questions and answers, along with scoring and ranking candidates based on their answers.
Self-learning solutions can also provide real-time feedback to interviewers during the screening rounds. A constructive feedback system improves the quality of interviews and ultimately makes up for better hiring decisions.
How much can AI save HR in hiring costs?
Singapore-based consultancy OppTy has launched an AI-powered career platform. Streamlining hiring processes will help recruiters save more than 80% on annual recruitment costs.
The founder of OppTy, Jansen Gwee, said: “The career platform offers automated job matches and optimizes search functions for potential job and candidate prospects.” Additionally, the platform helps manage the full recruitment workflow, including candidate searches, interviews, hiring, and onboarding. By integrating OppTy's recruiting process, recruiters will save over 80% on annual recruitment costs.
In 2025, the global AI market will reach $126 billion, which is incomprehensible to the average person. And it expects that AI will soon make its way into various industries, from manufacturing to retail.
When AI improves core business processes in producing industries, such as health care or consumer goods, conversion costs can be reduced by up to 20%. AI may initially seem intimidating, but the benefits are well worth the effort.
According to the Bureau of Labor Statistics, government workers will not lose any jobs between 2022 till 2024. According to Deloitte UK and Oxford University research, by 2030, up to 18 percent of UK public sector jobs may be automated.
These new applications could save billions of dollars and hours of staff time annually. Some political and financial factors will determine the size and impact of the shift. Within five to seven years, AI could free up 30 percent of the government workforce's time with adequate investment and support. Investing in AI would result in savings of just 2 to 4 percent of total labor time, with lower levels of support and investment yielding lower savings.
How Mad Devs can help you
Artificial intelligence is becoming increasingly important for companies seeking a competitive advantage in today's ever-evolving market. It can be more challenging than ever for a business to decide whether to outsource AI software development or keep it in-house with the dynamic rise of various development approaches.
The success of any project depends on the expert team, regardless of whether the project is outsourced or developed in-house. For software development, a company must choose the most convenient and efficient model based on the project's scale, goals, features, and budgets.
Time equals money. So when you hire a developing AI team, it can bring results faster.
Mad Devs is a software development company established in 2016. We are a team of experts from various domains contributing to bringing some of the most innovative and dynamic projects to our clients. With utmost reliability, we serve all kinds of businesses.
At the request of our clients, we can develop complex corporate solutions, chatbots, or recommender systems. We help you develop the best AI recruitment software that can help you find candidates more effectively, fill job posts faster, and attract new hires that fit the job better.
The cost of each solution is calculated individually, so you can contact us. Fill out the form, and our managers will contact you.
Top AI recruiting tools
Arya is an AI recruiting platform focused on achieving a more efficient and faster-hiring process. AI is used to find top talent and match them with potential employers. As a result, you will spend less time reviewing resumes and more time on interviews and hiring. With Arya, it's possible to source candidates from over 50 social channels, leading to better engagement with the candidates.
- Pulls candidates from different sources
- Provides a list of candidates who are ready to be interviewed
- Multi-channel communications
- Scheduling and answering questions automatically
- Bashyam Global LLP
There are four types of plans available:
- Basic: $199 per job
- Full service: $599 per job
- Multiple-job plans: Contact Arya’s sales team for a quote
Manatal streamlines the hiring process by suggesting the best candidates for a particular position and eliminating redundant steps. Manatal’s AI helps recruiters better evaluate potential candidates by identifying and integrating candidates' social media accounts across more than 20 social media sites. Advanced and unique features include AI-based candidate recommendations, candidate scoring, social media enrichment, powerful search functions, a career page builder, and more.
- It is available to share your job openings on 2,500+ free and premium channels, including local, global, and specialized job platforms such as Indeed, LinkedIn, Monster, CareerJet, JobStreet, etc.
- From one platform, you can manage all of your sponsored job advertising campaigns.
- To facilitate your screening process, score candidates' profiles based on job requirements.
- For better matching recommendations, enrich candidates' profiles with LinkedIn and other social media data.
- Identify insights beyond resumes. Manatal AI Engine searches the web for data on 20+ social media and public platforms to enrich candidates' profiles.
- The Coca-Cola Company
Manatal has two plans with fixed pricing. Annually, they cost as follows:
- Professional: $15 per user per month for up to 15 jobs per account and 10,000 candidates, unlimited guests.
- Enterprise: $35 per user, per month, for unlimited jobs per account and unlimited candidates and guests.
X0PA AI is a B2B SaaS (Software as a Service) platform powered by AI. This platform enhances people's decisions through predictive analytics on big data. Also, it automates routine tasks and provides predictive analytics and data-driven insights that increase productivity and efficiency.
- X0PA AI can automate communication tasks like emailing, scheduling, and interviewing for recruiting teams.
- The self-service portal allows candidates to upload resumes and receive recommendations for suitable jobs.
- It can assess the internal talent pool and assign candidates to jobs according to their abilities.
- Can predict a candidate's performance.
- Can automate workflows.
- Globalization Partners
There is no free trial and no free version. Prices vary with additional customization and specifications. A 1-year subscription will cost approximately USD 36,000.
A key feature distinguishing Paradox from the crowd is Olivia, an AI assistant who interacts with job candidates through text messages to ensure candidates' readiness. Moreover, employers can schedule interviews, screen candidates, and ensure a seamless hiring process. Employers and potential employees can communicate through a self-service portal.
- Users can contact their support team and explain their issues in real-time.
- Time-saving and cuts down on back-and-forth communication between job candidates and recruiters.
- AI chatbot Olivia is programmed to respond to candidates more personally.
- CVS Health
- As a result of using Paradox, Wendy's restaurants began to save 4-6 hours a day.
- After using Paradox, MultiCare experienced a 22% decrease in cost per hire.
- Great Wolf Lodge company reduced employee turnover by 225%.
Upfront, there is no pricing, so you'll need to schedule a demo to determine your custom pricing. The team will reach out to you after you fill out the demo form to learn about your team's challenges and schedule a demo tailored to your needs.
You can find the best candidates for your company with TurboHire's data-driven recruitment process. This platform can improve the traditional recruiting process. An intelligent algorithm matches qualified applicants with jobs based on their skills, interests, and availability without relying on resumes or interviews.
- Resume parsing
- Talent pipeline for open positions
- Candidate ranking
- Personalized interviews
- Chatbot assessments
- Automated job recommendations
- ICICI Bank
- CEAT Limited
- Accolite Digital
- Tavant Technologies
You can try TurboHire for 14 days for free and see how you can improve your hiring process. After that, you can choose one of four plans:
- Basic: Starts at $40 per month
- Pro: Starts at $177 per month
- Premium: Starts at $450 per month
- Enterprise: Starts at $1340 per month
This tool is a Talent Acquisition Suite with full functionality for recruiting and hiring. All-in-one recruitment platform. The main aim is to automate certain workflows and reduce friction in application processes. With this tool, you can eliminate tedious manual data entry and automate processes. Obtaining feedback from interviewers won't require chasing them down; all relevant information will be accessible in one place. This way, recruiters can focus more strategically on finding, engaging, and hiring the best talent.
- 250+ employees
- Serves customers in 21 languages
- AI-based candidate matching
- Applicant tracking
- Automated screening assessments
- Hiring team collaboration
- Privacy compliance
- Avery Dennison
- Colliers International
Upfront, there is no pricing, but you can try the free version and schedule a demo.
Teamtailor is the talent acquisition platform, the purpose of which is to attract candidates and convert them into employees.
- Recruitment features
- Free and paid job boards
- Email campaigns
- Customized application forms
- Communication by SMS and email
- Interview self-scheduling
- Goodbye Kansas Gr
- Vitamin Well
There is no pricing on the pricing page, but you can schedule a demo.
AI recruitment software assists companies in finding workers through their People Intelligence platform. Streamline the hiring process with Findem's diverse, top-quality talent pipeline. With the People Intelligence platform, you can close talent gaps faster and build diverse, engaged teams.
- 100,000 data sources and 750m+ enriched profiles
- Automated sourcing & engagement
- ATS integration with profile refresh
- Customized application forms
- Diversity optimization for talent pool
- High volume roles or niche roles
You can find the benefits of different plans on the official website, but not the prices. But there is a free consultation. And you can request a free demo.
Software developer recruitment platform. The main key feature is to match customers with verified freelance developers.
- All developers are tested and vetted
- All interviews already taken
- After your request, they will find you that match you with the best
- Ulpan La-Inyan
On the site, you can choose one of two plans:
- Startup plan $45 to $80 / hour
- Custom pricing for the Add-a-CTO plan.
AI recruiting tools FAQs
How can AI help the talent acquisition team?
Besides that, AI can help sources categorize applicants based on their requisite skill sets and identify potential candidates. It can also help reduce unconscious bias in recruitment by considering a more comprehensive range of factors when matching candidates for different vacancies.
What is the role of smart recruitment?
Recruiters can leverage AI in three ways—
- Simplify and streamline the entire screening process.
- Leverage proven performance data.
- Make more objective decisions about the right set of applicants that may proceed to the next stage of the hiring process.
What is conversational AI, and how does it differ from a recruiting chatbot?
Conversational AI and chatbots are often used interchangeably. The primary definition of conversational AI is the ability to mimic and conduct conversations with people using tools and programming. A chatbot is a program that can (but doesn't always) use conversational AI.
What is the difference between artificial intelligence & machine learning?
Machine learning (ML) and AI are often used interchangeably. However, machine learning is actually a subset of artificial intelligence. An understanding of the basic differences will be helpful to recruiters.
For example, AI examines ways to build and educate intelligent machines that can solve problems. At the same time, ML helps recruiters be more effective by computing, recognizing patterns, and detecting deviations. By analyzing that information, machines can detect nuances and patterns and make informed decisions based on them.
We suppose that AI in recruitment has a bright future. Today the technology helps find the perfect candidate for each specific job opening, saving a great deal of time in reviewing resumes. Invest in AI recruiting tools today and witness your talent acquisition team become more efficient.
Please take a look at our list of the best AI recruiting software above and compare their features and pricing before choosing the one that is right for you. Moreover, most AI-driven tools offer a free trial so you can test the app before you pay.
To recap, the Best AI Recruiting Software are:
- Arya. Next-generation artificial intelligence recruiting solutions provide qualified, compatible candidates.
- Manatal. Faster candidate sourcing and hiring.
- X0PA. B2B AI-powered SaaS platform.
- Paradox.ai. AI company that created Olivia — the conversational AI assistant for assisting in the recruiting process.
- TurboHire. Best intelligent applicant tracking and recruitment management system.
- Smartrecruiters. Best platform for tracking and hiring applicants.
- Teamtailor. Applicant tracking system made for all types of companies.
- Findem. Best tool turbocharges talent acquisition with AI.
- Lemon.Io. The platform helps you get exalted programmers onboard quickly without sacrificing product quality.
We hope this article helps you find AI to recruit the best talent for your organization. If none of the platforms suits you and want to develop your own, then Mad Devs is always ready to help you. Get a free consultation here at Mad Devs.