The U.S. job market continues to be uncertain as COVID disrupts the American workforce. According to the Pew Research Center, over 20 million U.S. workers were unemployed in May. Current research has seen an increase in jobs, but the gap still persists.
The current unemployment rate hovers just below 8 percent, according to the latest unemployment statistics. But signs of hiring across a number of industries is somewhat of a good sign. Filling jobs is another problem local businesses and companies face, due to COVID guidelines.
How can unemployed Americans get back to work faster? We certainly know how AI creates jobs, as tech companies rely on AI experts to innovate. But what about utilizing artificial intelligence to connect more candidates with job opportunities faster?
Artificial intelligence (AI) technology may be part of the answer. Utilizing artificial intelligence, machine learning, and predictive analytics could prove useful for filling the unemployment gap.
Artificial Intelligence Is Revolutionizing Job Search
Job search is more important now than ever before. Since all jobs are posted digitally, due to the pandemic, and there are more Americans applying to jobs, businesses and companies have a ton of candidate data to process.
However, artificial intelligence, machine learning, and predictive analytics can speed the process. Thus boosting America’s workforce. How? AI can compile data, and analyze it at unprecedented rates. This is done utilizing AI algorithms. Large quantities of personal and professional profiles from multiple sources can help build snapshots of the labor market.
Machine Learning Matches Data With Company Job Opportunity Profiles
Compiling and processing large amounts of candidate data is only one benefit of AI when it comes to job search and filling the unemployment gap. Machine learning can contextualize job candidate data with company profiles using key metrics.
There is already keyword matching in place when it comes to qualifying job candidates. When an application is submitted, algorithms look at keywords to determine if a candidate is a good match in order to move him or her through the hiring process.
However, advanced machine learning takes this a step further, understanding job seekers and companies within an ecosystem, deducing job skills, work relationships, behavior, and more.
Artificial intelligence and machine learning fill the unemployment gap by:
- Utilizing machine learning and AI job search gives companies and/or job recruiters real-time, on-demand access to candidate profiles within a single platform.
- Companies and/or job recruiters have access to evaluations that have been customized to the job search, as well as profiles aligned with company needs.
Human Contact And Bias Is Eliminated From Job Search
Human contact has been decreased within the job hiring process, since COVID regulations create difficult new challenges. Going into a business or company to fill out an application, or to meet with hiring managers is pretty much impossible during COVID days. But AI job search and hiring fills the gap.
Another important factor in terms of job search and hiring is that human bias is eliminated from the equation. The entire research stage of the candidate hiring process with AI and machine learning at the forefront can be done without hiring managers and/or recruiters ever knowing names, genders, ethnicities, locations, and sexual orientation.
The unconscious human bias has always been a problem in job search and hiring. But AI helps reduce these biases immensely. The intelligence and rationale behind AI and machine learning can bring new candidates to light. Often candidates that may have been left out of the hiring process due to human bias.
There Is Still A Need For Humans In Job Search And Hiring Process
Utilizing artificial intelligence in the job search and hiring process may seem counterintuitive to job growth on the surface. If AI does the work, won’t hiring managers and recruiters lose their jobs? Not necessarily. Humans are still needed to interact during the job search and hiring process in many ways.
Hiring managers can spend less time sifting through candidate data, and more time coaching, advising, and advocating for job seekers. This can improve the entire process, and make the job search and hiring process less anxiety filled and more holistic.
Can Technology Fill The Unemployment Gap?
Technology and the innovation it spurs can certainly open jobs up for Americans. Technology, however, can also bring more Americans to the workforce faster. This is a much needed element during the uncertain financial times Americans live in due to COVID. The more U.S. workers that get back on the job, the better. Technology like artificial intelligence can potentially speed this process up.