Big data, artificial intelligence and blockchain are coming, are HRs ready?

Big data, artificial intelligence (AI), and blockchain are currently hot topics. These emerging technologies will always change our lives in the future. So, for HR practitioners, what impact will these emerging technologies have on HR?

Big data

Big data (big data) refers to a collection of data that cannot be captured, managed and processed within a certain time range using conventional software tools. It requires new processing models. Massive, high-growth and diversified information assets with stronger decision-making power, insight discovery and process optimization capabilities.

In the past, when recruiting personnel, a competency model was first established based on theory. This model is based on certain experience, logic and assumptions. It has not been tested in practice to see whether it is really correct and effective. Instead, it pays more attention to the logical inferences before and after. However, the core of big data is to use massive data to predict what may happen in the future, rather than to establish causal relationships. It is derived from past practice. Google can be said to be a pioneer in using big data technology for recruitment. Google first asks all current employees to complete a questionnaire with hundreds of questions, and then uses big data analysis to derive a set of mathematical models to find suitable talents based on this set of mathematical models. In this way, Google no longer only judges the ability of job seekers based on diplomas and grades, but can also find job seekers who have great potential in schools and grades that are not very good.

Big data is currently used in HR, mainly to digitize the behavioral characteristics of the company's existing personnel, and to establish competency and quality models through big data and algorithms. The difficulty in application lies in how to digitize behaviors and how to establish mathematical models.

Artificial Intelligence

Artificial Intelligence (Artificial Intelligence), abbreviated as AI in English, is the study of the laws of human intelligent activities, the construction of artificial systems with certain intelligence, and the study of how to let computers complete tasks In the past, the work that required human intelligence was to study the basic theories, methods and technologies of how to apply computer software and hardware to simulate certain intelligent human behaviors. For example, our common smart search is a type of AI application.

Predictive algorithms and machine learning are rapidly emerging as a tool to target the best candidates, and many AI+ recruiting companies have emerged. AI is used to quickly assess the personal qualities of job seekers and draw conclusions by examining word preferences, micro-movements, psychological emotions, and social media terms. AI tools can also be used to screen resumes and search databases to save recruiters time and automatically market jobs to qualified candidates. AI recruitment software can be used in the early stages of recruitment to narrow the scope of candidates. In the later stages of recruitment, employers will often choose to communicate face-to-face with job seekers and make human judgments. This software increases recruitment efficiency and reduces screening bias.

At present, the application of AI in HR is mainly in external recruitment software services, and the cost of establishing AI-based recruitment internally is huge.

Blockchain

Blockchain is an encrypted ledger of digital records that are organized into a set of data, called a 'block', and distributed in a on the web. These blocks are located on servers called "nodes" and are connected together like a chain. Whenever a new transaction occurs, the blockchain is authenticated on the network. Therefore, authentication of each node is required to add blocks to the chain. Blockchain creates trust because a copy of the chain showing each transaction is held by the entire network. This is a method of decentralizing data, sharing it only with the people you want to share it with, and the data can only be modified or deleted by its owner. It's encrypted and nearly impossible to change unless you are the verified owner of that data.

The immutability and openness of information on the blockchain make this data storage method very credible. In the past, we needed to spend a lot of time verifying the authenticity of education certificates, the validity of skills, and even needed to verify relevant information through external background check agencies. Similarly, job seekers are also afraid of leaking personal information and are reluctant to disclose relevant information. Blockchain technology can help recruiters verify candidates' credentials in a highly secure manner and reduce the possibility of certificates being altered or forged, while also effectively protecting job seeker information. In this way we will reduce the time spent on information verification and improve recruitment efficiency.

At present, the application of blockchain is just an idea and concept. It requires the participation of a large number of people and organizations. To build data in this way, it will be possible in the HR field in the future. be applied.