Oracle CEO Mark Hurd has identified two critical corporate trends: the rising use of artificial intelligence (AI) in the workplace and the need for smarter talent management practices. His latest LinkedIn Influencer article combines these two topics to offer proposals for world-class hiring in an environment of shrinking labor pools. These insights, drawn from Hurd’s successful efforts to develop and deploy new hiring practices for Oracle, can help executives tasked with improving the quality of their company’s employees.
The decline in birth rates worldwide is key issue underlying this challenge. Hurd notes that many Asian and European countries are already experiencing “sub-replacement” birth rates, which means that fewer children are being born than are needed to sustain population equilibrium. With fewer employees entering the workforce worldwide, employers increasingly will have to implement AI solutions to hire people in a more intelligent way.
The key to this, says Hurd, is pattern-matching, a core function of the machine learning discipline in AI. By deploying AI to assess thousands of job applications, and comparing these applications against existing data they may already have on their workforce, employers can gain insights into various elements of an applicant’s professional history that might make them a good fit for a given role — even if the applicant might not have otherwise been in consideration using strictly resume-based terms.