Revamp & Rule: Automation, AI transcription, and NLP in the Recruitment Industry

Introduction

Did you know that 50% of the activities people are paid to do globally could be automated using recent technologies?¹ And recruitment positions and functions are no exception. According to the Gartner 2019 Artificial Intelligence Survey, 47% of businesses have already been using AI in their HR processes by the end of 2022. Naturally, AI and automation will not replace professionals in such human-centric industries as HR and Recruitment. Where does AI have a role then? Per Gartner’s report, 56% of companies using AI for HR are trying to automate repetitive tasks.²

Today, we explore the biggest recruitment trend of 2023: the introduction of Artificial Intelligence, specifically, AI transcription and NLP into agency processes, and how it can help your firm differentiate itself and thrive amidst fierce competition.

What the heck is AI?

Nowadays, everyone knows what AI means. Artificial Intelligence (AI) has become a hot topic in today’s tech-driven world, capturing attention and sparking discussions across various industries. Nevertheless, while the term “AI” traditionally encompassed natural language processing (NLP) and machine learning (ML) techniques, the current wave of excitement revolves around generative AI. This revolutionary technology can approximate an output based on a given input, creating a seamless conversational experience. Some notable examples of generative AI are the well-known ChatGPT of OpenAI, Google’s Bard, AutoGPT, and Midjourney, just to name a few.

If you haven’t been familiar with these yet, let us give you a quick overview. If you know these already like the back of your hand, feel free to scroll down a bit further.

1. ChatGPT: ChatGPT is a state-of-the-art language model developed by OpenAI. It is designed to generate human-like text responses based on given prompts or conversations. ChatGPT leverages a deep neural network to understand and generate natural language, making it capable of engaging in interactive and dynamic conversations on a wide range of topics.
2. Google’s Bard: Bard is Google’s experimental, conversational, AI chat service. It is meant to function similarly to ChatGPT, with the biggest difference being that Google’s service will pull its information from the web. 
3. AutoGPT: Auto-GPT is an experimental, open-source Python application that uses GPT-4 to act autonomously. 
4. Midjourney: This tool is a generative artificial intelligence programme and service created and hosted by a San Francisco-based independent research lab Midjourney, Inc. Midjourney generates images from natural language descriptions, called “prompts”, similar to OpenAI’s DALL-E and Stable Diffusion.

 

These generative AI tools operate through an intricate process. By leveraging extensive training data, they make informed guesses to generate appropriate responses. The outcome closely resembles the intellectual prowess of a human, fooling users into perceiving the system as intelligent and well-informed.

However, it’s crucial to acknowledge the limitations of these technologies. While generative AI models often provide accurate responses, they can occasionally produce false or misleading information—a phenomenon referred to as “hallucination.” As mentioned earlier, these models rely on guesswork, resulting in occasional inaccuracies. Consequently, it remains essential for users to review and validate the output before making decisions based on it.

Diving into specifics: AI in Recruitment 

Recruitment is undergoing a remarkable transformation driven by advancements in technology and shifting dynamics in the job market. From automation revolutionising traditional processes to the power of AI and NLP uncovering valuable insights, the future of recruitment is taking shape. Additionally, adapting recruitment strategies to meet the unique needs of Gen Z professionals, the first fully digital generation, becomes crucial for attracting and retaining top talent. By leveraging innovations and understanding the changing expectations of candidates, recruitment agencies can gain a competitive edge and navigate the evolving landscape with confidence. 

Recruitment, like any well-defined procedure, follows a series of predictable steps. While some of these steps, such as scheduling one-on-one interviews, can be easily understood and managed with basic technology, other aspects of the process demand more sophisticated tools for efficiency. 

Evaluating candidates’ behavioural traits or assessing their aptitude for a specific role, for instance, often require specialised tools developed by industrial-organisational psychologists. One such tool, called Deeper Signals, is designed to delve deeper into candidates’ abilities and provide valuable insights for informed decision-making. Another great example of how to leverage the latest technologies is, naturally, Squire: embracing call recording and AI transcription empowers agencies to extract essential information from candidate conversations. 

With these advanced solutions, recruiters can optimise the recruitment process and make well-informed choices about potential hires.

Recruitment Automation, Call Recording, AI Transcription, and more

Recruiting Automation offers a powerful solution to do manual and repetitive tasks faster, easier, and cheaper than ever before. Automating low-value tasks enables employees to contribute higher value to the organization by dedicating their time to tasks that require human interaction and attention, allowing them to make a meaningful impact that goes beyond what AI can achieve. The biggest and best UK recruitment agencies, including HAYS, Reed, and Michael Page have already introduced AI and automation into their operations. 

By embracing call recording and AI transcription, recruitment agencies can capture valuable insights from candidate conversations, extract essential information, and gain a comprehensive understanding of each interaction. This invaluable data forms the foundation for data-driven decision-making, trend identification, and continuous improvement of recruitment strategies. Some examples of AI interview enablement platforms – besides Squire – include Metaview, Brighthire, or Honeit. The main difference between them and our solution is that these companies generally supply their solutions to corporate recruitment teams – known as talent acquisition – whereas Squire is specifically tailored to the needs of recruitment businesses.

Going beyond call recording and AI transcription, harnessing the power of the latest tech to transform recruitment processes is crucial to stay ahead of the competition. Mundane and repetitive tasks, such as sourcing, background checks & assessments, publishing jobs, taking notes at candidate or client interviews, updating the ATS, and summarising key data for job descriptions or candidate submissions, are automated, freeing up valuable time and resources. By eliminating these administrative burdens, agencies can redirect their focus towards high-value activities and the core of their jobs: human interaction! We brought you a set of tools that cover some (or all) phases of the recruitment process and offer great solutions to automate your operations:

• Dripify: Dripify is an advanced and adaptable automation tool specifically designed for LinkedIn. It serves as a comprehensive solution for both recruiting and sales prospecting purposes. This versatile tool excels in effectively engaging with candidates, facilitating team management, streamlining data organisation, and providing detailed statistical analysis.
• Zoho: Zoho is a comprehensive platform that combines both Applicant Tracking System (ATS) and Customer Relationship Management (CRM) capabilities. Designed for staffing agencies and corporate HR departments, Zoho offers AI-powered solutions to streamline the recruitment process. With a range of tools and features, it supports every step of the recruitment journey, including sourcing candidates, tracking their progress, engaging with them, automating tasks, and ultimately making hiring decisions. By leveraging Zoho, organisations can enhance recruitment efficiency and improve the candidate experience.
• Fetcher: Fetcher is a game-changing recruitment tool that liberates you from the administrative burdens of recruiting, allowing you to dedicate more time and energy to the human aspects of the process. With Fetcher, you can access expert-level candidate sourcing, automate email campaigns, and effortlessly track candidate pipelines. By automating time-consuming tasks, Fetcher empowers you to focus on building meaningful connections with candidates and making informed hiring decisions. 
• Octopus CRM: Octopus CRM is an innovative LinkedIn automation software that caters to diverse requirements in sales, marketing, and recruitment. With its state-of-the-art features, this software offers comprehensive solutions to streamline various functions such as setting up sales funnels, assessing performance, establishing email connectivity, maintaining activity control, and much more. Whether you’re focused on sales, marketing, or hiring, Octopus CRM provides the tools and functionalities needed to enhance efficiency and productivity.
• Jobsoid: Jobsoid is a robust recruiting platform that offers a wide array of features to support various recruitment activities, including sourcing, engaging, hiring, and talent management. What makes Jobsoid even more appealing is that it offers a free version, allowing users to access its functionality without any cost. Whether you’re a small business or a larger organisation, Jobsoid provides the tools you need to streamline your recruitment process and find the best candidates for your roles.

With the rise of Gen Z professionals, recruitment agencies need to adapt their retention strategies too. As the first fully digital generation, Gen Z professionals bring with them a fresh perspective and distinct set of expectations. They prioritise meaningful work, value career development opportunities, and strive for a positive work-life balance. To successfully attract and retain Gen Z talent, recruitment agencies must adapt their strategies to meet these unique needs. These young talents also expect seamless technology experiences: they look for efficiency and ease in their professional endeavours. Cumbersome administrative tasks and outdated recruitment processes hinder their engagement and ultimately drive them away, so recruitment automation can also make a huge difference for these employees.

How Squire supports your automation efforts: NLP, voice analytics, and AI transcription, all in one

In today’s fiercely competitive recruitment industry, embracing automation is no longer a choice but a vital requirement for success. One remarkable tool to revolutionise mundane tasks and significantly boost productivity is Squire. 

Designed specifically for recruitment agencies and leveraging the advanced capabilities of ChatGPT, Squire eliminates the need for manual note-taking by introducing a seamless workflow. 

• It creates AI transcription of calls, utilising algorithms to extract key information, 
• generates comprehensive write-ups about candidates for easier submissions, 
• and updates essential fields automatically in any ATS or CRM system. 

The transformative power of tools like Squire cannot be overstated. Recruiters can now experience a significant reduction in time spent on data administration while capturing higher-quality data in their ATS. With Squire as their trusted companion, recruiters can focus on what truly matters: forging meaningful connections and making impactful placements for their clients.