AI Recruitment Market Poised for Continued Growth

Rodney HessBy Rodney Hess
November 27th, 2023 • < 1 Minute

A new report predicts steady expansion ahead for the global AI recruitment market. Valued at $630 million in 2022, analysts forecast the market will climb to over $830 million by 2028 as more companies leverage AI to enhance their hiring practices.

Several factors are fueling AI adoption for recruitment. AI-based tools help employers more efficiently source, screen, and evaluate job candidates at scale while reducing biases that often creep into manual hiring processes. These technologies analyze factors like writing samples, video interviews, skills tests, and resumes to automatically match applicants with open positions they may fit.

The report cites top players like Google, SAP, IBM, and Oracle leading the way in developing ever-smarter AI recruitment solutions. But penetration remains low, suggesting ample runway for expansion ahead. As AI recruitment proves its return on investment through metrics like reduced time-to-hire and better quality hires, growth seems inevitable.

While acknowledging the promise, the analysis cautions AI is no silver bullet. Thoughtful program design and mitigating algorithmic bias remain vital. Still, as the technology continues maturing, AI looks poised to become an indispensable talent acquisition tool for HR departments around the world. The years ahead will tell for sure, but the forecast calls for clear skies.

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