As a talent acquisition professional, you probably hear terms like algorithm, artificial intelligence (AI), and machine learning all the time—but what do they mean, exactly?
Basically, algorithms are a set of specific rules that tailor software to fit your particular needs and priorities.
Machine learning and artificial intelligence (AI) and the differences between them tend to generate a lot of debate in the engineering and data science communities. Generally, it’s safe to say that they’re not all that different; machine learning is essentially a subset of AI.
In a Talent Rediscovery software platform like Restless Bandit, machine learning and AI enable it to actually learn and assimilate your hiring practices, rules, and preferences to make itself extremely effective at rediscovering the best-matched talent for your open reqs. It goes way beyond keywords and Boolean searching, and it sees past false positives and false negatives due to keyword stuffing or missing keywords.
Maybe most importantly, it can actually draw insights from your data (like hiring trends and the profiles of the most successful employees by role at your company) by finding patterns a human would never be able to see.
For example, if you’re hiring for a procurement manager position, you probably aren’t looking at things that aren’t directly related to that skill set. But there are patterns everywhere, and our software can discover that a seemingly unrelated characteristic—like having previously worked in marketing—is shared by several of the most successful procurement managers at your company.
This type of pattern recognition, and drawing insights from massive quantities of information brings up another phrase you’ve probably heard a lot lately: big data. Big data basically refers to a volume of data so large that you need advanced technology to process and draw insights and get information from it.
Restless Bandit’s software is also smart enough to infer associations between specific certifications and skill sets that are highly likely to include others—even if they’re not specifically named and wouldn’t show up in a search. Likewise, it applies context; where a keyword search for “java” might get you all the candidates who’ve ever worked as a barista, in addition to the engineers you’re looking for, Restless Bandit can make sure you’re only getting the candidates who are experts in software, not lattes.
Basically, software that uses algorithms, machine learning, and AI, continues to learn. It keeps getting smarter, and keeps getting better and more efficient at working for your business, just like your best employees do.
To learn more about Restless Bandit and Talent Rediscovery, reach out—we’d love to talk with you!