This story is from May 27, 2024
Your job application may be rejected by AI before it reaches a human for review; here's why
Despite concerns surrounding data privacy, potential discrimination, and the inability to recognize hidden potential in candidates, HR executives maintain that AI is making the hiring process more efficient and faster.
Genpact, a professional services firm, recently introduced IMatch, an in-house resume parsing and job-matching engine powered by GenAI.
"Covering 40% of its new hires, AI tools have made the hiring process touchless till the interview stage," said Ritu Bhatia, Genpact's global hiring leader. Bhatia said that the use of AI has led to a 15% increase in recruiter productivity and a reduction in the time to hire from 62 days to 43.
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Simplilearn, an edtech company, has been utilizing ChatGPT and other AI tools for more than a year to streamline job descriptions, develop proficiency assessments, and administer psychometric tests. According to Archana Krishna, the company's chief HR officer, "This enables us to reduce time on mundane tasks and improve productivity and efficiency."
Rajesh Bharatiya, the CEO of Peoplefy, a recruitment services provider, stated that GenAI-based tools help personalize the process, such as sending recruitment mass mailers tailored to each candidate's unique experiences and background. He noted, "Such customisation may require 10 times more time to customise manually."
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Welspun Enterprises, an infrastructure development company, employs a GenAI bot to assist executives in conducting interviews. Rajesh Jain, the chief HR officer, reported, "Our hiring efficiencies have improved drastically. Before using the GenAI bot for interviewing, our selection ratio was 15%. Now this rate has increased to 55%, a 40% jump in my selection rate overnight," emphasizing the significance of this improvement.
Despite the benefits, experts caution that there are certain drawbacks to using AI in hiring practices at its current stage of development. These concerns include ethical considerations surrounding data privacy, algorithmic transparency, and the potential for discrimination. Additionally, AI may lack the ability to evaluate soft skills, amplify biases, and identify potential in candidates.
World’s Strongest Passports Ranking For May 2024: Which are the most powerful passports in the world? The Henley Passport Index releases monthly data with the list of global passport rankings, assessing 199 passports around the world. The passport ranking is decided on the basis of the number of destinations out of 227 that a particular passport allows visa-free access to. So what is the latest ranking of the world’s strongest passports and where does India stand in this list? Let’s take a look: (AI image)
Six countries share the first rank in the world’s most powerful passports list for May 2024. These are France, Germany, Italy, Japan, Singapore and Spain. The passports of all these countries allow visa free access to 194 out of the 227 travel destinations examined by The Henley Passport Index. (AI image)
Ranking second in the list of the world’s strongest passports are Austria, Finland, Ireland, Luxembourg, Netherlands, South Korea and Sweden. The passports of these countries allow visa free travel to 193 destinations. (AI image)
Belgium, Denmark and the United Kingdom share the third rank in the list of the world’s most powerful passports for May 2024. Holding any of these passports means you can travel to 192 destinations without the need for a visa. (AI image)
Placed on the fourth number are passports of Norway, Portugal and Switzerland. According to The Henley Passport Index for May 2024, passport holders of Norway, Portugal and Switzerland can travel to 191 places without a visa. (AI image)
Australia, Greece, Malta and New Zealand rank fifth on the list of the world’s strongest passports for May 2024. These passports allow for visa free access to 190 travel destinations. (AI image)
At the 6th spot on the list are Canada, Czechia, Hungary, Poland and the United States of America. Having a passport of the USA, Hungary, Canada, Czechia and Poland means you can travel to 189 destinations without the requirement of a visa. (AI image)
Placed at the 7th spot in the world’s most powerful passports list by The Henley Passport Index for May 2024 is Lithuania. If you have the passport of Lithuania, you can travel without a visa to as many as 188 destinations. (AI image)
Estonia and the United Arab Emirates (UAE) jointly hold the eighth rank on this coveted list of the world’s strongest passports. Having a passport from UAE or Estonia entitles you to travel to 187 destinations without a visa. (AI image)
Latvia, Slovakia and Slovenia hold the 9th rank in the world’s most powerful passports list. Passports of these three countries allow for visa free travel to as many as 186 destinations around the world. (AI image)
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