In the tenth episode of AI in Recruitment, hosts Martijn Hemminga and Jasper Spanjaart are hosted by Geert-Jan Waasdorp in Intelligence Group’s brand-new office in Rotterdam. They delve into AI predictions for 2024 and 2025 and the need for use-cases. Has the excitement faded? Listen to the full episode or watch it back in full on YouTube.
From newspapers to AI
Geert-Jan Waasdorp is what you would describe as a serial entrepreneur. Since 2002, he has observed shifts from newspaper-dominated job markets to the rise of online job portals like Monster and Indeed, and now to the current era of mobile and social media platforms changing candidate behaviours. Waasdorp is the founder of Rotterdam-based talent intelligence company Intelligence Group. “We aim to understand what drives candidates, focusing more on the supply side of the market. This knowledge lets employers enhance their branding and marketing strategies. We’ve been innovating for over 20 years, creatively utilising data to provide more than just binary answers.”
Challenges in AI adoption in recruiting
This approach, combined with unique data, provides employers with an advantage in employer branding and more effective talent attraction strategies. But AI’s emergence has brought another significant change. “While many are talking about AI, actual implementation remains limited, with only a small percentage of people actively incorporating it into their work routines. The potential of AI for increasing productivity is substantial, yet there’s a gap in its adoption and integration into existing processes.”
News in AI in Recruitment
In every episode, Hemminga and Spanjaart share AI news that stood out to them. In this episode: news from the International Monetary Fund (IMF). “The rise of artificial intelligence (AI) affects almost four in 10 jobs around the world”, Hemminga shared. “Richer countries in particular could benefit from the advantages of new technical capabilities, but also face more downsides such as a threat of job losses as AI takes over work from humans. It could also put pressure on wages. AI is likely to create more inequality around the world, warns the UN organisation. For example, workers who can work less because of AI and therefore have lower incomes will fall behind those who can work more productively and earn more because of the technology.”
‘Initial excitement seems to have faded’
Waasdorp highlights the challenges in AI adoption, such as the need for ongoing learning and adaptation. He stresses the importance of integrating AI into work processes rather than treating it as an additional task. “Businesses tend to stick to familiar routines. Learning a new skill like AI integration requires dedicated time and effort. At Intelligence Group, everyone is enthusiastic about AI, but we need to allocate time for learning and integration.”
“AI’s capabilities and creativity have stagnated recently. We’ve improved our prompts, but the initial excitement seems to have faded.”
“Marketers are particularly keen on using AI. Developers are gradually adopting AI, especially for troubleshooting and error resolution. Marketers use AI more creatively, especially for content creation. However, the novelty and creativity of AI seem to have diminished compared to a year ago. AI’s capabilities and creativity have stagnated recently. We’ve improved our prompts, but the initial excitement seems to have faded.”
AI predictions for the future
Waasdorp predicts that AI will not revolutionise the recruitment industry overnight but expects gradual changes as best practices and successful use cases emerge. “My hope is that by 2024 or 2025, we’ll see exemplary cases and best practices that will persuade the wider industry of AI’s potential. Once that happens, I anticipate rapid adoption, similar to the rise of WhatsApp, Facebook, and LinkedIn, which initially faced skepticism but eventually became indispensable tools.
“LinkedIn is now a professional networking staple, but was once doubted for its practicality in job hunting. I think it’s important to realise that starting now doesn’t mean you’re behind. By engaging with resources like this podcast, you can gain insights and position yourself ahead of the curve. That’s an exciting prospect.”
Sign up for AI in Recruitment: Outlook 2024
To explore further insights into the outlook for AI in 2024, the podcast encourages listeners to participate in the free event titled “AI in Recruitment Outlook 2024.” Sponsored by 8vance and Textkernel, and featuring AI-driven recruitment solutions, the event promises the latest figures, trends, and insights related to the use of AI in talent acquisition. Interested individuals can register for free!
Listen to the full podcast
For those keen on delving into the complete discussion, the full episode is available for listening on Spotify, Apple Podcasts, or through the link below.
The podcast is proudly sponsored by 8vance, the market leader in recruitment. They’ve trained their AI on a staggering 85 million resumes. Let 8vance also accurately predict the best job for your candidates. Go 8vance.com to read more about their solutions.