Generative AI to Transform Recruitment Industry Dynamics

Generative AI stands as one of the foremost trends impacting the recruitment industry in 2024, with research conducted by Staffing Industry Analysts indicating that experts predict, on average, 39% of recruitment activities will be substituted by AI within the coming three years. Generative AI is also set to be a key discussion point at the forthcoming Executive Forum North America.

According to the Staffing Trends 2024 report, SIA has determined that AI will enhance the experience for candidates, internal staff, and clients alike, while also increasing the potential for ‘fractionalised work’, which obscures the distinction between permanent and temporary employment. Together, these factors could result in significant long-term growth and opportunities for the sector.

AI is exerting an influence across all sectors. For instance, recent announcements have revealed that Apple Inc. has shelved its plans to develop an electric car, choosing instead to invest in generative AI.

A panel titled “AI and More: The Hype and the Hope of New Technology” is scheduled for 26 March at SIA’s Executive Forum North America in Las Vegas. It will be chaired by John Nurthen, SIA’s executive director of global research, and will explore AI along with other technological innovations such as blockchain, the metaverse, the Internet of Things, and 6G.

“Recruitment firms are facing unprecedented challenges due to the latest technological advancements,” Nurthen commented. “New technologies, new tools, and enhancements to existing tools have left recruitment executives struggling to navigate a confusing and rapidly changing ecosystem. Through our most recent research and events, SIA is committing to improve industry knowledge on these critical issues. Although this era presents significant opportunities, it also comes with risks.”

Furthermore, SIA is organising a Staffing Tech Summit, set to take place immediately before the conference on 25 March. This pop-up event will focus intensively on technology-related topics, ranging from tech stacks to cybersecurity to AI.