Stories about new AI technology have dominated the headlines for years. Recently, many of them have focused on generative artificial intelligence (GenAI) tools such as OpenAI’s ChatGPT, Microsoft’s Bing Chat, and Google’s Bard.
Developing rapidly and gaining steam, AI is finding its way into more and more business applications each day. In particular, it has seemingly unlimited potential to streamline how HR professionals do their jobs, with the biggest and most immediate impact being felt on the recruitment side of HR.
Because monetary compensation plays a critical role in attracting and retaining top talent, business leaders must stay abreast of the latest compensation trends in order to remain competitive and ensure employee satisfaction.
The rollout of AI innovations seems to be picking up more steam each day: just as we learn about “the latest thing,” something new arrives hot on its heels. Less than a year ago, DALL-E exploded onto the scene, heralding the arrival of generative AI. Not long afterward, as people were just beginning to wrap their minds around how DALL-E’s capabilities could revolutionize the creation of images, ChatGPT showed up and challenged our understandings about text meaning and generation.
The use of artificial intelligence in recruitment is nothing new. For example, employers have long used chatbots to guide people through the application process. Many hiring managers rely on virtual assistants to organize their workflow, and data analysis tools make it faster and easier for recruiters to find connections between candidate resumes and the roles a company seeks to fill.
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