More and more leading recruiters are urging job seekers to use AI-powered online tools. This is a sign that employers are rapidly introducing new technologies, market observers say.
Artificial intelligence to help job seekers
Several major international recruitment companies now offer every job applicant to use the help of artificial intelligence platforms when compiling their resume or cover letter. These technologies can also be very useful for candidates who are researching the job market and looking for a suitable job. Artificial intelligence tools can direct them to the most suitable work position for them, where they will be able to demonstrate and realize their potential, experts note.
AI technology can help job seekers in five ways. This is stated in an analysis of the European Labor Authority and the Directorate General “Employment, Social Affairs and Inclusion” of the European Commission, published on the official website of the European Union.
Online AI tools can help job seekers craft relevant resumes (CVs) and cover letters. They can facilitate the job search process depending on their professional qualities and interests. Thanks to online applications based on artificial intelligence, candidates can conduct job interview simulations. The system will assess their skills and analyze the mistakes they made, which will help them perform better in real conditions, the authors of the Euroanalysis point out.
“It’s important that candidates adapt” to the use of artificial intelligence (AI) technologies, says James Barrett, managing director of London-based Michael Page Technology. She has specialized in the selection of computer specialists for the private and public sector.
“If[a job candidate — ed.]uses AI tools correctly, it can help them get to the next stage” of the job application process, Barrett notes.
Sebastian Detmers, CEO of another global recruitment agency – “StepStone Group” (StepStone Group), is also a supporter of using AI technologies in the job search process, writes BTA.
“AI will be useful to applicants, especially if it helps them highlight that they possess the qualities that are required for the job position they are applying for,” he points out.
Such expert opinions are a sign that technologies based on artificial intelligence are becoming an integral part of the job search and personnel selection process, the Financial Times reports.
StepStone Group provides job seekers with an AI-based online tool. Through it, they can compose a cover letter by just providing a CV and a description of the position you are applying for. The company has also created the so-called resume generator. This online tool can “write” a resume that will pique the interest of employers looking for employees with certain qualities, the company says. She notes that the resume generator has been used 2.6 million times. times in the last 12 months.
More and more companies operate online platforms that specialize in creating resumes and cover letters with the help of artificial intelligence. One of them is Kickresume, notes the Financial Times.
“LinkedIn” in step with the times
The social network LinkedIn, which connects online employers and professionals in various fields, offers its users an online tool based on AI. Based on skills and their professional experience, this tool can provide candidates with an analytical assessment of whether they are suitable for a given job position. He can help them draft a cover letter and “assess” whether their resumes are well written and fit the job position they are applying for.
At the moment, LinkedIn provides access to this online tool to those users who have a paid subscription to the social network. The company that manages the social network has announced that it will soon introduce a free version of the application.
In the US, they are looking for jobs with the help of AI
A significant proportion of job applicants, at least in the US, are using artificial intelligence tools, polls show. About 57 percent of those in the labor market who were born between 1995 and 2012, also known as “Gen Z”, have used AI to write a job application, resume or cover letter. This is according to the data of a survey conducted this month by the recruitment corporation “Randstad”.
AI-based job search services were used by 40 percent of millennials surveyed. This demographic group is known as “Millennials” and includes those born between 1981 and 1996, according to the Encyclopedia Britannica website.
For the representatives of the X generation (born between 1965 and 1980), this percentage decreases (21 percent), and for called baby boomers who were born between 1946 and 1964, falling to 13 percent, the survey data also show.
Boom in investment in AI technologies
Meanwhile, investors around the world are putting significant funds into companies developing AI technologies, hoping they will become the next big hit in the market.
In the third quarter of 2024 venture capital funds have invested $3.9 billion in start-up companies that develop technologies based on generative artificial intelligence, according to financial data company PitchBook (PitchBook). A larger part of this financing - 2.9 bln. dollars, is aimed at companies based in the United States, according to the specialized website “Tech Crunch”
6.6 billion are not included in these investments. dollars invested in artificial intelligence technologies by the startup company OpenAI.
The technology corporation ”Microsoft” (Microsoft) has invested billions in the project “ChatGPT” (ChatGPT) – a chatbot developed by “Open AI, Reuters recalls. It has gained popularity around the world thanks to its voice function, through which artificial intelligence ”talks” with consumers, experts say.
– What are the potential risks of using AI tools in job applications?
Interview between Time.news Editor and AI Recruitment Expert
Time.news Editor (TNE): Welcome to the show! Today, we have a special guest, James Barrett, the managing director of Michael Page Technology in London, a leading recruitment firm specializing in technology roles. James, thank you for joining us!
James Barrett (JB): Thank you for having me! It’s great to be here.
TNE: Let’s dive right in. We’re seeing a significant shift in how job seekers are using AI tools to enhance their applications. Why do you think this trend is gaining momentum?
JB: It’s a fascinating time in the recruitment landscape. More and more job seekers are recognizing the value that AI can bring to their applications. With the advancement of technology, AI-powered tools can help candidates tailor their resumes and cover letters, making them more relevant to the specific roles they’re targeting. It’s about enhancing their chances of getting noticed by potential employers.
TNE: Indeed! The European Labor Authority highlighted five ways AI can assist job seekers. Can you share some insights on those benefits from your perspective?
JB: Certainly! First, AI can help craft relevant resumes and cover letters tailored to the job description. Second, it streamlines the job search process by matching candidates with roles that align with their skills and interests. Third, AI tools can simulate job interviews, providing realistic practice and feedback to improve candidates’ performance. Lastly, AI also assists in skills assessment—ensuring candidates understand how well they fit a job’s requirements. It empowers them to present themselves effectively.
TNE: That’s really illuminating! As organizations adopt AI tools, how important is it for candidates to adapt and leverage these technologies?
JB: Adaptation is crucial. Candidates who integrate AI into their job search are likely to move ahead in the application process. It’s no longer just about listing qualifications; it’s about strategically showcasing one’s abilities and fit for a position using data-driven insights. Remember, companies are also utilizing AI in their hiring processes.
TNE: Speaking of companies, I came across some statistics that show about 57% of Gen Z applicants in the US have used AI tools for job applications. What does this say about the future of recruitment?
JB: It indicates a shift in job-seeking behavior across generations. Gen Z and millennials are not only comfortable with technology; they are leveraging it as a necessary tool in their job search. This trend implies that as the workforce becomes increasingly tech-savvy, recruitment methods will also need to evolve to meet these candidates where they are—online and using AI.
TNE: Companies like StepStone Group and platforms like LinkedIn are rolling out AI tools as well. How do you see this impacting the dynamics between candidates and recruitment agencies?
JB: The introduction of AI tools by companies enhances transparency and efficiency in the recruitment process. Candidates can negate some of the guesswork traditionally involved in crafting applications. This also means that recruitment agencies need to adapt by embracing these technologies, offering services that harness AI insights to better guide candidates in their job search.
TNE: With the rise of AI in recruitment, do you foresee any drawbacks or challenges for job seekers?
JB: Yes, while there are many benefits, one of the challenges lie in over-reliance on these tools. Candidates might become too focused on what AI suggests and lose their personal touch or uniqueness in their applications. It’s essential to strike a balance—using AI for assistance while still presenting an authentic representation of oneself.
TNE: That’s a great point! As we wrap up, what advice would you offer to job seekers looking to use AI in their job search?
JB: First, embrace the tools available and learn how they work to maximize their capabilities. Experiment with different applications, but don’t forget to infuse your personality into your materials. Lastly, stay informed about new technologies and trends in the recruitment space—being proactive can significantly enhance your job search efforts.
TNE: Thank you, James! Your insights have been invaluable. It’s evident that AI is shaping the future of job applications, and ensuring that candidates adapt is more important than ever. We appreciate your time today!
JB: Thank you! It’s been a pleasure. Let’s continue the conversation about how technology can empower job seekers!