Despite a Lack of Deployment, AI Viewed as Top Talent Management Tool

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Despite a Lack of Deployment, AI Viewed as Top Talent Management Tool

While most organizations recognize the potential for artificial intelligence (AI) solutions as game-changing talent-management tools, comparatively few companies are actually deploying AI for this purpose, according to a recent survey from Eightfold.ai. The resulting “Talent Intelligence and Management Report 2018” indicates that many enterprises still rely upon legacy tech systems to solve staffing-related challenges. Those that are taking advantage of AI, however, are gaining a competitive edge in employee recruitment, development and retention. More than 1,000 CEOs and HR officers—as well as just over 200 employees—took part in the research. The following slide show presents survey findings, with charts provided courtesy of Eightfold.ai.

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AI Remains Underutilized

Only 22 percent of organizations are deploying artificial intelligence (AI) solutions to solve their talent challenges. Just 31 percent are using enterprise resource planning (ERP) tools for this.

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'Old School' Tools Still Rule

Organizations are most likely to deploy legacy HR information systems to attempt to solve their talent challenges, as cited by 48 percent of respondents. Forty-six percent of respondents said their company uses personalized job descriptions as a means of solving talent challenges, while 42 percent cited applicant tracking systems.

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AI Perceived as Career Development Driver

Despite the fact that AI isn’t deployed across the board at enterprises, 72 percent of respondents believe recruiters can take advantage of this technology to find qualified candidates more quickly. Seven of 10 feel that HR can leverage AI to foster more internal mobility for employees, thus improving retention and skills growth.

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Organizations Seek Improved Employee Experiences, Oversight

Two of five respondents believe that AI tech can create a better experience for every employee. Nearly the same number feel that AI tech can provide personalized employee management.

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Tech Advancement Brings Competitive Edge

The findings reveal that 54 percent of respondents at companies using AI for talent programs said they have transformed their talent acquisition process into a competitive advantage. In contrast, only 38 percent of respondents overall made this claim.

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Successful Deployments Result in Reduced Admin Time

Fifty-three percent of respondents at organizations using AI for talent programs said they are reducing the time HR spends on admin tasks. But only 34 percent of respondents overall said they’re doing the same.

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Retention Spikes With IT Investment

One-half of respondents at companies using AI for talent programs said they are increasing employee retention. In contrast, just 38 percent of respondents overall said they are seeing an increase in retention.

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Recruiter Interest Keeps Employees in High Demand

Given the aforementioned talent management advantages of AI, organizations that fall behind in adopting these solutions may face retention issues, as 55 percent of employees receive unsolicited messages from recruiters every week. And 78 percent of employees said they welcome this contact.

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IT Spending Forecast Remains Mixed Despite Overall Revenue Surge

Just over one-half of enterprise IT budgets will flatten in 2019, but organizations are still committed to updating their IT infrastructure while supporting tech projects and stronger cyber-security.
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