In 2024, AI copilots are expected to revolutionize the HR industry by providing real-time guidance to employees and managers . These copilots will help HR professionals understand their employees better by analyzing their work patterns, identifying their learning and development needs, and even suggesting when they need a break .
Streamlining Candidate Engagement
AI-powered tools are also expected to streamline candidate engagement by creating more equitable and efficient candidate experiences . The global AI recruiting market is projected to surge to USD 890.51 million by 2028, growing at a CAGR of 6.5% . The industry’s rapid expansion from 2020 to 2023, witnessing a growth rate of 64.45%, is underpinned by the primary benefit of AI in recruitment as its time-saving capability . Nearly all Fortune 500 companies, about 99%, and most recruiters (around 65%) are already leveraging AI recruitment methods . Furthermore, AI is not just the purview of large corporations; approximately 35.5% of small and medium businesses invest in AI or machine learning-based recruiting tools .
Enhancing the Quality of Recruitment
AI recruitment tools are not just about automating tasks; they’re about enhancing the quality of recruitment. These tools enable recruiters to sift through hundreds of applications, focusing only on the most qualified candidates, thereby accelerating the recruitment process while also reducing human biases . AI-powered tools are also revolutionizing how recruiters communicate with candidates.