AI is changing the hiring game; what are the rules?

The fourth quarter is an interesting time. We’re simultaneously winding down 2023, thinking of some quiet time during the holidays, and getting ready for 2024 with the new initiatives, strategies, and budgets it will bring. Let’s take a look at what’s happening in talent, recruiting, and AI.

The Situation

Market Dynamics

LinkedIn’s Global Talent Trend report indicates overall hiring has slowed almost 25% in the US and candidate applications are up nearly 20% (YoY from Aug ’22 to Aug ’23). It will be interesting to see how this increase in candidate volume competes with the pressure for talent teams to do more with less. Process optimization and new ways to review applications are essential to ensure top candidates aren’t left in the pile.

Regulation and protection

Biased bots? US lawmakers take on 'Wild West' of AI recruitment, a piece by Thompson Reuters, highlights a number of recent and upcoming regulations around AI in recruitment tech.? article on the balance by the government against AI bias in recruitment tech. It talks about the Workday lawsuit recently, but also algorithm blackballing (referencing Amazon’s resume scanning feature it dropped in 2018) and state laws in CA and NY moving to responsible AI.?

The White House enters the chat

The White House issued an executive order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence. Of interest:

• Each agency must designate a Chief Artificial Intelligence Officer
• The Department of Labor must develop principles and best practices for employers to take with regard to AI including job-displacement risks and career opportunities related to AI effects on job skills and evaluation of applicants and workers
• The Council of Economic Advisers must create a report on the labor-market effects of AI
• The Department of Homeland Security must speed up visa processing for noncitizens who wish to study or research AI in the US
• The NSF must prioritize existing resources to support AI-related education and AI-related workforce development through existing programs

Many of these initiatives have short-term deliverables, so more to come soon.

AI, ML, and Generative AI skills are in demand

Lightcast recently shared that “Generative AI Demand Soar[ed] 1,800% for US Employers” in 2023. Companies are looking for a mix of machine learning and data science talent to develop and integrate the technology into their offerings. That said, while hype is high, the number of roles is comparatively small but growing. For the most talented professionals, The Information reported that OpenAI has offered $5m to $10m USD packages (subscription required) to try to lure some AI Talent from Google!

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