Last month, I had the pleasure of attending Indeed’s FutureWorks conference in Atlanta. Chris Hyams, the CEO of Indeed, kicked off the conference with a keynote speech which focused largely on Artificial Intelligence.
As we all know, this is an extremely timely topic. Artificial Intelligence, or AI, is dominating the conversation today around the future of work. And as Hyams noted, there is no bigger question than whether AI will help or hurt the world of work.
Like many of us, Hyams feels some uncertainty about how AI will affect the workplace. “I am enthusiastically excited, and I am enthusiastically concerned,” he said. “And I think it's important to hold both of these feelings at the same time.”
“Over the long run, it seems clear that technology has had a positive impact on humanity,” he added. “Today, we work fewer hours, in safer conditions, and by nearly all measures enjoy a higher quality of life than ever.”
But Hyams emphasized that the cycles of disruption caused by new technologies are happening faster and faster. “With AI, it's conceivable that college students might now find themselves learning skills that are obsolete by the time they graduate,” he shared.
This presents a clear challenge to both job-seekers and employers, and there are many other ways AI is set to transform the labor market. For example, Hyams described how certain sectors, including Legal, Finance, and HR, might be significantly impacted by ChatGPT. He also discussed why AI has the potential to contribute to bias and inequality.
In today’s article, however, I want to focus on one area in particular where AI can offer a huge advantage in the workplace: hiring practices. In fact, AI has helped power extraordinary improvements in matching job seekers to jobs — and according to Hyams, there are some exciting new developments on the horizon.
Read on for his perspectives on this important topic!
AI already plays a role in connecting job seekers with employers
There’s no question that Indeed has a front row seat to the world of work. The company helps more than 350 million job seekers every month connect with more than 3.5 million employers.
But these connections aren’t happening purely by chance. In fact, AI has powered Indeed job search from the very beginning. Hyams provided an example: “When a job seeker views a job, our AI uses hundreds of millions of salary data points to estimate the pay for the job, and it helps the job seeker see how that pay matches their expectations.”
And it’s not just job seekers who are benefitting from Indeed’s use of AI. “When you post a job, our AI leverages data about every job and job seeker on Indeed to help you see how many applications you are likely to get, and our AI recommends the right budget to meet your hiring needs.”
How is Indeed using AI to make hiring faster, easier and more human?
Although AI has long been part of Indeed’s platform, it’s now driving matching in new and even more exciting ways. Today, job seekers don’t even need to use the search function — the company uses AI to deliver a personalized list of job matches.
“Job seekers love these jobs,” Hyams noted. In fact, they’re 55% more likely to apply to an AI recommendation than a job they see in their search results. But these statistics become even more compelling when employers get involved.
“When you post a job on Indeed, our AI recommends candidates that match your requirements — before they even see your job. You can choose the candidates that are the best fit, and invite them to apply,” Hyams said. Where there is an AI-plus-human match, job seekers are 17 times more likely to apply compared to a job from their own search results.
“THIS is what we mean when we say we want to make hiring more human,” Hyams concluded. “We are combining the power of AI with the incredible power of human judgment.”
How else can AI improve the hiring process?
While AI already plays an enormous role in powering Indeed’s job search, Hyams revealed that more AI-powered developments are in the works.
For example, the company recently launched an AI-powered job description generator to support hiring managers. You start with a job title and a location, and generative AI creates a job description. Not only can this save talent professionals a lot of time, but Indeed’s tool is designed to recommend job descriptions that are most likely to attract job seekers.
The tool has already been used by 800,000 Indeed clients to create more than 2 million jobs. And in just six months of beta testing, job descriptions created with Indeed AI saw a 16% increase in applications.
Another new development coming soon, Candidate Highlights, will produce a summary about what stands out for each candidate. “As you review each match recommendation, you can see AI-generated highlights that summarize key skills and experience matches, as well as potential gaps,” Hyams explained.
Then when an employer is ready to connect with candidates, Indeed’s new AI-powered Smart Message feature allows you to write a personalized reach-out. “It uses generative AI to automatically compose a personalized message to the job seeker explaining why your job is just right for them,” Hyams shared.
Keeping humanity at the heart of hiring
There’s no question that AI will have a tremendous impact on the world of work. But most companies, including Indeed, are focused on keeping humans at the center of everything.
“We’re not trying to build a recruiting robot to replace humans,” Hyams emphasized. Rather, it’s about bringing together people and AI to deliver more powerful outcomes for job seekers and employers alike.
Thanks for reading – be sure to join the conversation on LinkedIn and let me know your thoughts on this topic!