Responsible use of AI will make the hiring process impactful: Indeed’s Raj Mukherjee

Recruiters across industries are using artificial intelligence (AI) to streamline their processes, resulting in improved recruitment strategies and faster hiring. Indeed, a US-based recruitment agency on Tuesday introduced an AI tool called Smart Sourcing to simplify and expedite hiring. This tool allows recruiters to access a large talent pool of around 300 million workers globally. Raj Mukherjee, Executive Vice President and General Manager at Indeed discusses the tool's impact on the job market, specifically in the tech industry, and how AI can overcome recruitment challenges, benefiting both job seekers and employers. Edited excerpts:

Can you provide an overview of the current job market in India? How do you see the global job market evolving, particularly in comparison to India?

The first trend that I see, is the revolutionary impact of AI, specifically gen AI, which has the potential to help job seekers automate tasks, allowing them to focus on more critical responsibilities or even create entirely new job roles. Additionally, we anticipate an increase in companies expanding their talent pool to tier 2 and 3 cities due to factors such as diverse skill sets, cost savings, talent availability, and efficient scalability. There is also a rising demand for specialist roles in areas such as data science, AI/ML, cloud computing, cyber security, and full-stack development. According to an Indeed-Nasscom survey, AI/ML, Data Science, and Cloud Computing are the leading job families in terms of job creation for FY24 across 70% of organisations. Another trend is the growing prevalence of non-tech jobs in the job market, not just in India but globally as well. Sectors such as well-being, healthcare, and manufacturing are experiencing a surge in non-tech job opportunities. Lastly, the future of work is undergoing a transformative shift in work models and styles, with a spectrum ranging from traditional in-person setups to the flexibility of gig work and the emergence of hybrid models. These changes are fundamentally altering the traditional structures of the workspace.

We are witnessing significant churn in the IT sector today. How do you anticipate this sector evolving?

Tech jobs continue to dominate the market. The decrease in numbers does not indicate a disappearance of tech jobs, but rather a slowdown in growth compared to previous years. These jobs are evolving and changing due to rapid advancements in technology. Finding the right talent with the necessary skills is a challenge that tech companies are currently facing. Indeed's new solution, Specialist Media Networks, offers employers additional opportunities to connect with qualified candidates in the tech industry, whether they are actively seeking employment or open to new opportunities.

What are the primary challenges that employers face today in the recruitment process, and how do you believe AI can address these challenges to make the process more efficient for both job seekers and employers?

Last year brought on many new challenges for employers, but one thing remained constant: The hiring process needs an overhaul. Qualified candidates slip through the cracks while companies struggle to find the right talent to fill their open roles. I witnessed this first-hand while watching my daughter, a high school senior, navigate her job search. Her results didn't align with her skills and experience, which impacted her confidence and expectations. Employers crave candidates that match the skills they require, while job seekers value a quick response from employers who align with their needs. This emphasizes the need for a hiring process that focuses on matching the right candidates to the right employers, and vice versa. AI can help address this issue. AI automates tasks like resume screening and initial candidate evaluations, expediting talent acquisition. Predictive analytics driven by AI forecast future workforce requirements, facilitating proactive skill gap management. Additionally, AI-driven platforms provide tailored learning opportunities for employee training and development.

How do you believe the new offering can improve the entire hiring process?

Indeed has utilised AI technology for over two decades, prioritising advanced algorithms over simple keyword searches. Our Smart Sourcing feature is transforming the hiring process through AI-driven technology, resulting in employers saving an average of 8.1 hours per week. With instant matching and personalized recommendations, 95% of employers confirm that 'Smart Sourcing' greatly reduces time-to-hire. By analysing intricate details within resumes and job postings, employers can save time, attract ideal candidates, and enhance overall efficiency. The responsible use of AI streamlines and accelerates the hiring process, ultimately making it more impactful.

With the rapid advancement of technology and AI, what do you envision as the future of recruitment, and how is Indeed preparing to stay ahead in this dynamic landscape?

In the future, With the use of technology and AI, recruitment will become more data-driven. At Indeed, we're using data and AI to improve our services. By analysing hundreds of millions of qualifications and preferences from job seekers and employers, we make better connections between them. Our technology now helps make over 23 hires per minute, which is twice as many as before. Also, AI and human intelligence will work together in recruitment. giving HR professionals more time for human-centric tasks. AI can help with drafting job descriptions, summarising reports, and gaining deeper insights into job seekers. That's exactly what the new tool Smart Sourcing does (and more). We think of AI as a partner, not a replacement for what we want to achieve. AI can add value and save time, but humans are still in control. Your judgment and review cannot be replaced by AI; rather, AI should complement and enhance your work.