Interview with Jean-Laurent Bonnafé, Director and Chief Executive Officer of BNP Paribas - by...
When Artificial Intelligence participates in recruitment
As the competition to attract talent intensifies from year to year, large groups and SMEs alike are seeking to use the best technology to improve their HR processes. Artificial intelligence (AI) offers the opportunity to help recruiters in their activities whilst also improving the experience for candidates.
AI—the augmented recruiter
Online recruitment is already the norm. According to the French National Institute of Statistics and Economic Studies, 44% of businesses use social networks to find candidates. Tools capable of scanning the web and finding a rare gem are therefore essential, and the online search for candidates has every reason to be revolutionized by AI. By aggregating content from different web platforms, AI guarantees relevant sourcing of CVs based on multiple requirements. It therefore saves time for HR managers and head-hunters by identifying candidates with high potential.
AI and HR—how do recruiters across the world feel?
> 63% of recruitment professionals surveyed say that AI and Big Data have changed the way their organization recruits
> 69% of recruiters believe that AI allows them to identify and recruit more qualified candidates, and to minimize delays in the recruitment process
> 59% of recruiters say that candidate profiles identified by AI are of higher quality than those proposed through traditional channels
Sources : Korn Ferry Global Survey (2017), Deloitte HR Trends (2018)
A virtual assistant for recruitmentWe haven’t seen all the possibilities of AI just yet. AI can effectively serve as a tool for every step of the recruitment process:
- It prepares job descriptions, integrating all key information in the posting
- It allows recruiters to propose a conversation or a virtual pre-interview with candidates via a chatbot, as is already the case in some businesses
- It helps to carry out a first selection of candidates, through a scoring of candidates based on skills for example
- It can carry out the first step of the recruitment process and guarantee candidates share business values and have mastered key competences, through tests and questionnaires
- It can manage interview planning, evaluation of compensation, and more
Recruiters will soon have a virtual intelligent assistant at their disposal 24/7. The Mya robot, for example, developed by the California-based start-up FirstJob, claims to automate up to 75% of the recruitment process.
Recruiters are also available 24/7 for candidates through chatbots that offer a first point of contact that is more engaging than a simple website. They also offer new services, such as personalized advice to prepare for their interview, or by monitoring their application process in real-time or even act as a ‘hotline’.
A BNP Paribas lab specialized in AI
Well aware of the potential that artificial intelligence offers, BNP Paribas is improving its analytic and AI capabilities. Acting as internal start-ups, the AI labs across the Group use state-of-the-art technology to develop products specific to the Bank’s use cases. In January 2019, the AI community had identified up to 350 AI use cases, with application across investment banking, compliance, HR, communication, retail banking, insurance, etc.
AI challenges at BNP Paribas
BNP Paribas is now able to develop its own tools, leveraging on AI to support its recruitment processes. Candidates can already use a chatbot, integrated into the Facebook page of BNP Paribas Recruits, which coaches potential candidates and provides advice on preparing for interviews.
The Corporate & Institutional Banking Artificial Intelligence Lab has also developed a tool to support HR recruiters. This tool uses natural language processing (NLP) to extract unstructured data from documents. Its models were fitted to CVs in order to extract content such as skills or professional experiences. On top of NLP, the tool includes a search and rank home-made brick to search across candidates or job descriptions, a translation brick enabling recruiters to post their job in several languages. It also gives the recruiter an indicative scoring of the candidate, by matching the CV with available job offers, based on state-of-the art technologies such as TDF / IDF, neural networks and deep learning.
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