Investing in artificial intelligence: benefits for SMEs

Investing in artificial intelligence and innovative technologies for the management of recruitment may seem a justified action only for large companies, employment agencies or search and selection companies (especially in light of the high numbers of CVs with whom they work on a daily basis). 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 are the advantages and what the effects on the management of the recruitment process.

Artificial intelligence in the company

According to a study conducted by the Milan Polytechnic Observatory, the percentage of companies that are working with artificial intelligence projects is constantly increasing. At present there are artificial intelligence projects operational in 53% of medium-large Italian companies.

From the financial to the manufacturing sector, artificia intelligence technologies are being positively received by many companies for facilitating 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?

Why invest in artificial intelligence?

The artificial intelligence market grew by 15% compared to 2019 and reached a value of 300 million Euros in Italy.

This is certainly a positive figure for the AI market and is largely fueled by investment form 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 a great opportunity for SMEs a growth opportunity for the company itself, plus improving its reputation for being more competitive and cutting-edge.

The advantages of artificial intelligence for SMEs

Artificial intelligence technologies are adopted by companies 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:

• Data-driven approach: following the data, AI accompanies employees in decision-making processes and helps to develop ore effective business strategies to improve the management of activities and, through predictive analysis. increase profits.
• Smart tools and technologies: artificial intelligence is one of the strongest trends in recent years. Introducing it to the company means providing people with innovative and cutting-edge tools capable of responding to specific and ever-changing needs, as well as relieving staff of purely manual and repetitive work.
• Human resource engagement: the introduction of AI technologies in the company affects the involvement of employees and candidates. While this impacts on the skills, upskilling and reskilling of its employees (who must be able to deal with this new technology), it is also a strong motive for attracting new talent.
• Recruitment and attraction of talent: this is one of the sectors in which the effects of artificial intelligence are most evident. Among the main benefits of AI, it helps speed up search and selection activities, makes the search for candidates more effective and reduces the times spent by the recruiter to carry out manual and repetitive tasks.

SMEs and talent management

As we have mentioned, recruitment and Talent Acquisition is one of the areas in which artificial intelligence is particularly productive and this is also demonstrated by the development of ad hoc technologies, designed to improve and enhance the recruitment process, such as Inda.

The greatest 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 precisely search for the right candidate

With Inda you can do this and much more: you can provide candidates the automatic compilation of application forms, you can search for the most qualified candidate in line with your job description by scanning your CV database with semantic search or you can easily generate and share CVs anonymously with your colleagues and clients (for outsourced hiring).

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These are just some of the advantages that can push SMEs to invest their budget in artificial intelligence projects: a market that will certainly continue to grow and develop, helping to attract even more skilled talent to contribute to the growth of the company.