Market Highlights
The AI recruitment market is projected to grow at a high CAGR during the forecast period. As per the AI recruitment market research report, the global market for AI recruitment is projected to grow swiftly by 2025. According to analysts, AI’s significant impact across all the verticals as well as the need to improve the hiring process quality will drive the market growth during the forecast period. The AI recruitment market research report offers a comprehensive analysis of the global AI recruitment market and its application, deployment, organization size, region, vertical, and component segments. The reluctance in adopting new technologies along with lack of technical expertise are the elements that could influence the AI recruitment market advancement throughout the forecast period. The AI recruitment market research report by expert analysts is developed to assist organizations in the AI recruitment market.
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SOURCING
The ability to evaluate millions of data points allows companies to easily find qualified and best-fit applicants from a much wider pool of talent than just work boards. One of the most lucrative opportunities for recruiters is the opportunity to quickly and efficiently classify passive applicants (those not actively searching for employment or on work boards) on the basis of predetermined parameters.
With data-driven algorithms, a range of stringent criteria can be set to learn thoroughly about and proactively hit a broader pool of candidates early. Marketing automation helps recruiters to cultivate and transform these candidates at the right time. This will help to reduce the reliance on hired drives or in-person hackathons used by many recruiters to drive volumes at the top of the funnel.
SCREENING
Recruiters will recognize the expertise and experience of high-performing workers and benchmark prospective applicants for these profiles with the right tools. With deep learning behind this process, artificial intelligence can then scan millions of profiles for ideal candidates based on specific skills and experience, not keywords.
Segmentation:
The global AI recruitment market has been segmented based on application, deployment, organization size, region, vertical, and component. On the basis of component, the market for AI recruitment is segmented based on software and services. Additionally, the market on the basis of organization size, is segmented into SMEs and large enterprises. The global market for AI recruitment is also covered based on deployment segment which is further split into on-cloud and on-premise. On the basis of application, the market for AI recruitment is segmented based on ad automation, candidate assessments, candidate discovery, candidate relationship management, job market forecasting, resume filtering, and others. Additionally, the market on the basis of vertical, is segmented into BFSI, commercial, education, healthcare, IT and telecommunication, government, and others.
Major elements such as complex technological solutions could obstruct the AI recruitment market growth. However, according to the AI recruitment market research report, the need to automate complex recruitment processes along with the demand for intelligent screening software will propel growth throughout the forecast period. The AI recruitment market is set to register growth at a high CAGR owing to these key factors. The exploration of application, deployment, organization size, region, vertical, and component segments along with regional markets has been given in the global AI recruitment market research report. The research analysts studying the AI recruitment market have put out market forecasts in the AI recruitment market research report in order to support AI recruitment market-based companies. The AI recruitment market research report provides an extensive understanding of the AI recruitment market based on the information and forecasts till 2025.
The recruiter issue: AI skills challenges
A key challenge when hiring AI professionals is that many recruiters lack relevant industry knowledge. As AI continues to boom, demand outpaces supply. Finding a Data Scientist that is a good fit is no longer the case of matching keywords such as “Machine Learning” in a CV. The data production pipeline includes Data Engineers, Data Analysts, Data Scientists, AI Engineers, Machine Learning Operations and more. Understanding what your company needs and knowing the differences between these roles will differentiate a good and a mediocre technology recruiter.
Another challenge is how to build a team correctly. Given that it is a relatively new and constantly evolving sector, recruiters often struggle when it comes to knowing what skillsets are required to build an effective AI team.
Competitive Landscape
Chatbots, digitized interviews, and recruitment bots are presumed to drive the AI recruitment market growth worldwide. The global AI recruitment market could be challenged by lack of professional services for deployment, nevertheless, organizations in the AI recruitment market will carry the growth rate forward. The AI recruitment market research report presents company profiles of major companies active in the AI recruitment market globally. Furthermore, the global AI recruitment market report offers an all-inclusive analysis of the market collected from the AI recruitment market’s primary and secondary sources covering both decision makers and thought leaders. The AI recruitment market research report highlights such key areas assisting businesses operating in the AI recruitment market to build better growth strategies.
Industry News
PredictiveHire, an Australian technology firm which has developed straightforward AI-assisted recruitment solutions, today announced a global release of its Fair AI recruitment platform to educate HR management in evaluating AI technology for use in their organisations. The framework has been launched to start discussions on HR technology transparency against an explosion of AI solutions in the field, with many using “blackbox” algorithms.
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Global AI Recruitment Market Research Report: by Component (Software, Service), by Organization Size (SMEs, Large Enterprises), by Deployment (On-Cloud, On-Premise), by Application (Resume Filtering, Candidate Discovery, Candidate Relationship Management, Job Market Forecasting, Ad Automation, Candidate Assessments, Others), by Vertical (Government, IT and Telecommunication, Healthcare, BFSI, Education, Others), by Region (North America, Europe, Asia-Pacific, Middle East and Africa, South America) – Forecast till 2025
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