This is a Guest Blog by Dr. Ganesh Nikam, Managing Director and CEO at Biojobz
Unlike all previous waves of IT and Digital Innovation, where different industries picked up the immense advantages of technology at different pace, AI adoption is altogether a different story. Practically all industries which were considered late adopters previously, showed up very early in the starting line and prepared with full throttle.
The Bio-Pharma sector in India is one such early starter and AI is discussed and strategized from Board to Boiler level. Everybody is realizing that the rate of change of AI progress is very quick, and one cannot afford to miss or delay any piece of it. The Role of Artificial Intelligence (AI) and Machine Learning (ML) particularly in recruitment function is picking up at a great pace.
The fields of biotechnology and pharmaceuticals in India are witnessing significant advancements and growth. As the industry expands, so does the need for qualified and skilled professionals. The traditional recruitment processes, although effective, are often time-consuming and labor-intensive. In recent years, there has been a rise in the implementation of Artificial Intelligence (AI) and Machine Learning (ML) technologies in the recruitment process, revolutionizing the way organizations hire talent in the bio and pharma sector in India.
These technologies can streamline and enhance various aspects of the hiring process, starting from candidate sourcing to final selection. Exploring some of the key roles played by AI and ML in this sector.
- Candidate Sourcing and Screening: Finding suitable candidates with the required qualifications and experience is a crucial step in recruitment. Pharma sales, which is virtuously called as Medical Representatives (MR) constitutes the biggest section of the work force and coupled with traditionally high attrition rates, the recruitment function is always on the toes. AI-powered algorithms can shift through numerous resumes, screening candidates based on predefined criteria and identifying those who possess the desired skills and qualifications. AI and ML algorithms can analyze vast amounts of data from multiple sources, including job boards, social media, and professional networking sites. These technologies can identify potential candidates based on their skills, qualifications, and experience, significantly reducing the time and effort required for manual candidate sourcing. ML algorithms can also screen resumes, match keywords, and evaluate candidate profiles, ensuring that only the most relevant applicants move forward in the selection process.
- Skill Assessment: Assessing the skills of candidates is a crucial aspect of recruitment. AI-powered platforms can administer online assessments and simulations to evaluate candidates’ technical skills and problem-solving abilities. These assessments can provide objective and standardized results, helping recruiters make informed decisions based on candidates’ performance.
- Candidate Experience Enhancement: AI-powered chatbots and virtual assistants can be deployed to enhance the candidate experience throughout the recruitment process. These virtual assistants can interact with candidates, answer their queries, and provide updates on their application status, eliminating the need for manual intervention. This automated communication not only improves the efficiency of the hiring process but also leaves a positive impression on candidates, reflecting the organization’s commitment to technological innovation.
- Predictive Analytics for Success Prediction: AI and ML technologies can analyze historical data from successful candidates to identify patterns and characteristics that contribute to their success within the bio and pharma sector. By leveraging this predictive analytics capability, recruiters can identify candidates with the highest potential for success in specific roles, improving the overall quality of the hiring process.
- Bias Reduction: Unconscious bias can influence recruitment decisions, leading to the exclusion of qualified candidates based on factors unrelated to their abilities. AI and ML algorithms can help reduce bias by focusing on objective criteria and eliminating human prejudices from the selection process. These algorithms evaluate candidates based on their skills, experience, and qualifications, ensuring fair and equal opportunities for all applicants.
While AI and ML technologies offer significant benefits in the recruitment process for the bio and pharma sector in India, it is important to remember that these technologies are tools and not replacements for human judgment. Human intervention and expertise remain essential in making final recruitment decisions. Additionally, the ethical considerations of using AI and ML in recruitment must be considered, including data privacy, transparency, and the potential for algorithmic bias.
The integration of AI and ML technologies in the recruitment process for the bio and pharma sector in India has started revolutionising talent acquisition. These technologies offer efficiency, objectivity, and accuracy, helping organizations identify and hire the most qualified candidates. By leveraging the power of AI and ML, the industry can build a highly skilled workforce and drive innovation in the bio and pharma sector, leading to significant advancements in healthcare and biotechnology in India.
