In today's competitive talent landscape, hiring professionals do not have the luxury of being reactive in their hiring process. The name of the game has switched focus to proactive strategies and finding ways to streamline performance and increase productivity.
In previous years, the recruitment marketing industry has seen growth in the usage of AI and automation to streamline the recruitment process. Hiring professionals have come to terms with the fact that pairing technology with human effort can help streamline processes and increase efficiency. The newest tech craze? ChatGPT.
As many companies turn to invest in technology to improve recruitment practices, it’s important to fully understand the opportunities the technology can provide. From its benefits to its pitfalls, understanding the scope of the technology and how it can be used is essential.
Read on to learn more about ChatGPT, the benefits to recruitment marketing, and what to keep in mind when using this tool.
ChatGPT (“Generative Pre-trained Transformer”) is an artificial intelligence chatbot. It’s a new AI technology that’s an advanced natural language processing tool (NPL). The tool “is capable of taking written inputs from users and producing human-like responses.”
Now, being skeptical about this new technology is okay. Professionals in the recruitment scene are already familiar with chatbot tools (like Paradox’s Olivia), so how is this different, and what are the benefits for professionals?
There are tremendous opportunities with AI tools like these, becoming “trained” (from programming and drawing on information from the web) to create content. It learns from the conversations it has with people and updates to become refined and produce more quality responses. ChatGPT uses reinforcement learning to answer questions, write code, gather information, write copy, and more.
AI isn’t a new tool for recruitment marketing professionals. It’s actually widely implemented into strategies – and the demand seems to be growing. 98% of organizations say they currently use AI in some capacity.
Many companies utilize chatbots in the recruitment space, using programs such as Olivia, Siri, Alexa, etc. According to Forbes, the number of active AI startups has increased 14X since 2000.
With the global AI market projected to reach a value of $1.84 billion by 2030, it’s clear that there’s going to be an increased adoption of AI technology and a growth in investments to leverage this technology.
As ChatGPT starts to rise in popularity and use, it’s worthwhile to understand its growth and capabilities. With 175 billion parameters, GPT-3 is one of the largest and most powerful language processing AI models to date. What makes ChatGPT different from the rest is its ability to log content. It will log users’ earlier messages and questions in the thread to use in future content and form responses in later conversations.
As the investment into AI technology grows, others in the space are going to step up with their own tools. For example, Microsoft (who’s an investor for OpenAI, the creator of ChatGPT) held a press event announcing new AI-powered updates to the Bing search engine and Edge browser.
“It’s bigger than anything humanity has ever dealt with, hands down. It’s going to disrupt. It’s going to turn the work world on its head.” Todd Mitchem, CEO of AMP Learning and Development shared.
This tool's rapid growth and usage is unlike anything the market has seen. ChatGPT had 100 million monthly active users in January. To put this in perspective, it took Instagram two and a half years to reach this milestone, and it took TikTok nine months.
"This is the fastest consumer application I have seen to hit 100 million monthly active users in my career covering this space," shared UBS equities analyst Lloyd Walmsley.
Since ChatGPT is in its early stages and still learning, it's important to understand its capabilities and where human efforts need to step in. But, this tool can be used in a variety of ways for AI talent acquisition.
As the landscape evolves into a new era of work, professionals need to understand the benefits and limitations of ChatGPTKeeping both in mind will allow hiring professionals to create engaging content. Again, the content created will not be ready to use right away. It will often need to be reviewed and tweaked. However, what the tool creates can be a great jumping-off point for professionals (like a brainstorming session with very detailed outcomes).
As the landscape evolves into a new era of work, professionals need to understand the benefits and limitations of ChatGPTKeeping both in mind will allow hiring professionals to create engaging content. Again, the content created will not be ready to use right away. It will often need to be reviewed and tweaked. However, what the tool creates can be a great jumping-off point for professionals (like a brainstorming session with very detailed outcomes).
For one, there can be unintended consequences tied to launching technologies like this. This technology is still learning and being trained; it’s still growing and evolving in its capabilities. This is why it’s imperative to be aware of its capabilities and ensure there’s a human element reviewing the content. When utilizing this tool, it really should be a two-way conversation; the more descriptive the hiring professional is, the better the response will be.
Hiring professionals need to recognize and acknowledge the potential risk of bias when using ChatGPT and ensure they take steps to mitigate it. Remember, this tool is still in its infancy stages and learning everyday. When companies use this tool, it’s important to audit the results to confirm that there’s no potential bias coming through, and that the team is well trained on bias recognition.
Keep in mind, no one can fully predict the impact of this tool quite yet. There is an inherent risk involved when rushing to create and implement new technologies like this. Professionals want to move so quickly with these tools that they might need more time to assess the risk.
It’s also important to keep in mind that this isn’t going to be the only version of this tool. There will be many iterations of it, so it continues to grow and evolve. Also, this won’t be the first or last technology of its kind – ChatGPT will be one of many, many, many technologies that will come to market.
This was proven recently with Google’s announcement of introducing Bard to the playing field. Google shares that AI will “deepen our understanding of information and turn it into useful knowledge more efficiently.” Google shares that, “It’s critical that we bring experiences rooted in these models to the world in a bold and responsible way.” The company goes on to say that they’re committed to developing AI responsibly and are dedicated to providing education and best practices to make AI safe and useful.
As mentioned above, even with the growing capabilities of these technologies, there still needs to be a human influence. It doesn’t seem like this technology will only be cutting jobs, but there are opportunities for departments to scale or for new companies to be on the rise. This new technology might create as many jobs as it cuts. Honestly, it may even create even more – someone needs to run the tool and be an expert on the platform!
Hiring professionals need to keep in mind that there are certain ways to prompt ChatGPT to give the answers they’re seeking. This could mean asking the same question in multiple ways to ensure the tool is going to respond with the answer they’re seeking. But if companies are able to take the time to learn and adapt how they prompt the tool, they will get content in no time. Be mindful to:
Even if the company isn’t ready to dive into ChatGPT quite yet, understanding the technology and what it creates is a huge start.
As mentioned above, we are entering a new era of work, with tools and technology on the rise and being at the forefront of many businesses' radars. Whether you want to take advantage of the tool or not, many professionals are dabbling with it now. It will be interesting to see how it grows and is implemented into business practices.
Stay ahead of recruitment trends, like the rise of ChatGPT, easily by connecting with us!
