Investing in artificial intelligence and innovative technologies to manage recruitment may seem justified only for large companies, employment agencies, or search and selection companies (especially in light of the high numbers of CVs with whom they work daily). In reality, investing in artificial intelligence solutions is also a strategic move for the growth of small and medium-sized enterprises. So, let’s see why SMEs should do it, what the advantages are, and what the effects are on the management of the recruitment process.
italiane.According to a study conducted by the Milan Polytechnic Observatory, the percentage of companies working on artificial intelligence projects is constantly increasing. There are artificial intelligence projects operational in 53% of medium-sized Italian companies.
From the financial to the manufacturing sector, many companies are positively receiving artificial intelligence technologies to facilitate their performance in the job market. Despite this, however, and as demonstrated by the aforementioned study, it is easier to find Artificial Intelligence (AI) solutions within large companies (61%) than in medium-sized organizations (21%).
But why are small and medium-sized businesses not investing in artificial intelligence solutions? And why would it be good to start doing so?
The artificial intelligence market grew by 15% compared to 2019 and reached a value of 300 million Euros in Italy.
This is undoubtedly a positive figure for the AI market and is primarily fueled by investment from large companies.
Startups and small and medium-sized enterprises have to deal with different budgets and investment strategies not only compared to large companies but also by comparison within their market. Investing in artificial intelligence can represent an excellent opportunity for SMEs, a growth opportunity for the company itself, plus improving its reputation for being more competitive and cutting-edge.
Companies adopt artificial intelligence technologies for several reasons. SMEs should invest in artificial intelligence solutions, not only to benefit from business growth but also for the numerous other business advantages:
As we have mentioned, recruitment and Talent Acquisition is one of the areas in which artificial intelligence is exceptionally productive. This is also demonstrated by developing ad hoc technologies, such as Inda, to improve and enhance recruitment.
The most significant advantage that AI brings in talent management is its ability to deal with high numbers of applications without compromising the effectiveness of the results. It also has the power to automatically extract and analyze data, feeding the CV database and simultaneously improving the experience of the candidates; it provides the recruiter with the necessary tools to search for the right candidate precisely.
With Inda, you can do this and much more: provide candidates with the automatic compilation of application forms. You can search for the most qualified candidate per your job description by scanning your CV database with a semantic search. Alternatively, you can easily generate and share CVs anonymously with your colleagues and clients (for outsourced hiring).
These are just some of the advantages that can push SMEs to invest their budget in artificial intelligence projects: a market that will undoubtedly continue to grow and develop, helping to attract even more skilled talent to contribute to the company’s growth.