3 AI Mistakes Your Business Will Make When Starting Out

Look to the future

With the increase in AI within businesses, and the increase in spending on AI within businesses that already have AI projects, comes a larger number of mistakes.

The IDC predicts that global spending on AI will reach nearly $120 bn in 2022 and $300 bn by 2026. This means that even if your company has been putting off moving into the Artificial Intelligence space, it would be unwise to delay further, especially in coming times of economic instability when automation, faster processing and mining value from data could be the deciding factors of your future success.

We have found the biggest three mistakes you could make, so that you can avoid these pitfalls and hit the ground running.

1. Mixing up the terms

If you are to be involved with your organisation’s AI project, you will need to understand that there is no such thing as an interchangeable term when it comes to this space. There are a few abbreviations to learn as well.

AI = Artificial intelligence – tech that can understand things like a human can

DL = Deep Learning – algorithms that learn to understand patterns over an extended period of time

ML = Machine Learning – machines running tests in order to gain an understanding

DS = Data Science – using techniques and tools on large amounts of data to uncover patterns and find useful information

DL and ML are a subset of AI. DS uses DL and ML to build predictive models. DL and ML run tests and learn information then feed that information into an AI system so that it can do its job of sensing, navigating and executing actions within its environment.

Knowing how these systems and concepts interact helps businesses build great teams

2. Thinking You Don’t Need AI At All

It is a myth that AI is a business luxury. Of course, some companies do not need it. To write it off as a trend that will fall out of fashion is a mistake you cannot afford to make as it is highly likely that, once up and running, it will start returning on the investment within a relatively short period by automating, analysing and generating insight. Once you have made a serious case for the adoption of AI within your business, it is time to build a team.

3. Misunderstanding How AI Works

To sum it up as simply as we can, AI uses algorithms to study data and use insights to improve itself. Once it is knowledgeable enough it can be left to decide on issues, each time becoming more accurate. Some businesses have tech that does the first part but does not do the second part, which drains resources without giving them maximum returns. Having the best team means you have people who have experience in what to do and what not to do in order to make the teaching of the AI not so labour intensive before it becomes self-sufficient. Quality, pre-sifted data is needed in this task so it is important that you understand that data experts will be required too. Think of it as a human reading one badly-researched book. They will take the wrong lessons from that book and apply that information to make decisions, which will be wrong. The more you read, the more you learn and the more you learn how to sort good info from bad. AI is prone to bias, as humans are, so it is important to ensure diversity of input, which means both the datasets and the people working on the team.

If you are recruiting for AI, Data, ML, DL or Cloud, it really helps to have a dedicated, specialist tech team building recruitment partner to give advice and find the best hidden candidates.

Curious about how Zenshin Talent can help your organisation? Contact us today for a no-strings conversation about your needs and our experience.

How Will Rising Energy Prices Impact Recruitment?

Is there light at the end of the tunnel?

The crisis is currently impacting the UK with the cost of living at a three decade high. Fuel and energy prices are the main drivers of this, with food prices also rising to record levels.

With this, the majority of workers are receiving either a pay rise not in level with the high interest rates, frozen wages or, in some cases, wage cuts. Businesses with contracts locked to wholesale prices will start to suffer as spending power decreases.

Some workers are having to make major changes to their plans, either looking for better paying jobs or moving sectors. Around a third of workers are reporting that they are looking to move job as their pay is not rising in line with the cost of living.

At the same time, it is likely that some who had planned to make a move, find themselves stuck, their savings being drained by bills. Over three quarters of job seekers worry about how the cost of living crisis will affect them. Disposable income being impacted was a major factor of their anxiety. For a lot of workers, they were barely covering all of their expenses as it was.

Add to this the extra pressure of paying for more energy in order to work from home, which will also make people reconsider one of the few positive gains that happened during the pandemic to return to the office. Those who work in the office and drive to work will be reconsidering their position.

This creates an unusual situation in the job market where some industries will find a glut of workers hitting the market and others will find a dearth. It leaves everyone in a sort of limbo: can’t make a move, have to make a move.

This may also reverse the stances of Younger Millennials & Gen Z, who have thus far been selecting their roles based not only on salary expectations but career progression and workplace culture. If this crisis continues for an extended period of time, those individuals will have to choose wage over beliefs. It would be extremely sad if that did become the case as those workers were starting to facilitate the emergence of much more inclusive working environments.

This brings up a much larger point: will this change the job market back from being one where the candidates have more options and thus more power, back to one where the employers have the power? For this to happen, option of employment would need to shrink.

Smaller businesses have reported record energy bills with projections looking to be 10 times what the same businesses paid last year. If this comes to pass, a lot of business will be going out of business. The UK government is promising help but time will tell what exactly that will be and just how helpful it will be.

If all of those businesses go to the wall, the job market will shrink. If the job market shrinks, there will be more unemployment and with that comes a more desperate workforce willing to take less in pay in order to secure a job.

This could be the start of very desperate times. Employers should demonstrate a duty of care to their employees by allowing them to express their fears. HR departments should be doing their best to listen to those under their care and communicating this information to upper management as sensitively as possible. The best thing a business can do right now, apart from boost wages which we understand is becoming harder, is to treat their staff like human beings.

On the business side, if a company has not yet streamlined its hiring practices, which is something we have been advising for years, this is the time to take a serious look and break down those bottlenecks which cause the hiring process to grow wildly over budget (in terms of both resources and time). If you need help, look to specialist recruitment partners.

Curious about how Zenshin Talent can help your organisation? Contact us today for a no-strings conversation about your needs and our experience.

Recruitment Changed From A Relationship Business To A Numbers Game – How Do We Change It Back?

How can we seal the deal without real contact?

We’ve all been there, especially on Linkedin, when you receive a generic recruitment message or email, that you know has been sent out in a scattershot manner in order to capture some candidates who may be possibly interested in leaving their current position for pastures new.

Why does this happen? Well, as we have previously mentioned in our blogpost Why Don’t Recruiters Have Anyone ‘On The Books’ Anymore?  we pointed out that with the modern state of recruitment, the days of having files on prospective candidates are gone and the majority of recruitment happens via targeting jobseekers on job boards.

The world has moved on in the decades since the 1970s, with job security low, worker turnover high across industries and the internet and automated technology meaning that connections can be made without face-to-face contact.

The acceleration meant that people were more accepting of impersonal communication. The pandemic flipped the power from the employers to the employees and with that, some of their pet peeves are now being pushed back against.

Even though people tolerated being treated like just one in a group of prospects, they did not enjoy it. A recruiter working for a recruitment firm will be set targets in terms of the amount of people they contact and ultimately how many they place in jobs. In the 21st century everything must be measured and these metrics are how a recruiter is measured. Somewhere along the way, the candidates and their feelings got lost. Yes, recruiters need to reach out to multiple people at a time, but it is not about the ‘why’, but the ‘how’ of it.

The focus should always be on quality rather than quantity.

When a recruiter sends out one of those messages, they know for certain that the vast majority who receive it will not be happy to see it. And they know if the ones who do reply back, most, if not all, will not progress to the next stage. There is a major fault in the thinking surrounding these messages. There is an inefficiency to this process. It wastes everyone’s time for the possibility of possibly one candidate proceeding.

There needs to be quality, not only in the candidates but in the communication with said candidates.

Viewing the candidates as a faceless mass and also as an infinite resource is the biggest fault here. When targeting these candidates it is so important to understand that they are the most important part of the process.

Candidates have work histories, soft and hard skills, stories to tell. There are few who could realistically fit the job spec exactly so it is worth taking the time to consider where you may find ones not actively looking on the job boards who may be looking to switch for the right opportunity. Those individuals will not take kindly to being ‘finessed’ with a totally generic and frankly cold message.

Prospects can see a mass email a mile away but it is not necessarily the only reason they will not wish to deal with that recruiter. Many of us have been left out of the loop when it comes to the progress of their application. How many recruiters have seemed to fall off the face of the earth after a positive phone conversation? It does seem that contingency recruiters imagine that candidates have insurmountable amounts of positive energy but it will wear even the most positive person down.

Relationships need to be built. Trust needs to be renewed. Credibility needs to be earned, or at least borrowed from an expert recruitment partner.

Businesses should bear some of the responsibility for not moving away from the idea that millions of prospects is the best way to do things. They are set in their ways and that needs to change. Someone who knows what they are doing will provide five perfectly selected candidates. Throwing those candidates into a meat grinder situation with dozens sourced by other recruiters who are vying for the same commission cannot work. The process must be refined and it must respect the candidates.

The funnel systems are failing so now it is time to look at the situation soberly and commit to finding the best, with the best help, and making it about relationships again.

Curious about how Zenshin Talent can help your organisation? Contact us today for a no-strings conversation about your needs and our experience.