Is AI Ruining the Job Hunt?

Estimated reading time: 3 minutes

The labor market is growing increasingly reliant on artificial intelligence, and not just because of automated jobs. AI has become a prominent tool in many companies’ recruitment processes — but it may be making the process worse for everyone involved.

Reconfigured Recruitment

The use of AI in recruitment is widespread. Only 15% of companies aren’t currently using or testing the use of AI in HR, according to a 2024 report by human capital management advisory firm Aptitude Research. However, many find this AI-powered recruitment process impersonal and ineffective.

For example, some employers will leverage AI to screen resumés, as the models can quickly filter applications based on technical metrics like education history or previous employers. But for job seekers, this means that they may not have the chance to impress in an interview, or might even be rejected from a job they’re qualified for just because their resumé lacked a certain keyword.

This new approach doesn’t seem to be a big hit with those on the job hunt. Only a quarter of candidates expressed satisfaction with their recent recruitment experiences, per the report.

Finding Your Next Job

AI integration doesn’t seem to be making things much better for employers either.

Just half of companies have seen improvement in their recruitment processes this year, according to Aptitude Research. That may be due in part to the use of AI on the other end of the job search. Many job seekers lean on chatbots to create cover letters or apply to jobs in bulk. For recruiters, this means open job listings can quickly become inundated with AI-generated applications.

Over time, this trend may correct itself, as prospective employees and employers alike realize a human touch is key to ensuring fair and effective hiring practices.

Disclaimer
SoFi Securities (Hong Kong) Limited and its affiliates (SoFi HK) may post or share information and materials from time to time. They should not be regarded as an offer, solicitation, invitation, investment advice, recommendation to buy, sell or otherwise deal with any investment instrument or product in any jurisdictions. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
SoFi HK does not make any warranties about the completeness, reliability and accuracy of this information and will not be liable for any losses and/or damages in connection with the use of this information.
The information and materials may contain hyperlinks to other websites, we are not responsible for the content of any linked sites. The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi HK. These links are provided for informational purposes and should not be viewed as an endorsement. The risk involved in using such hyperlinks shall be borne by the visitor and subject to any Terms of Use applicable to such access and use.
Any product, logos, brands, and other trademarks or images featured are the property of their respective trademark holders. These trademark holders are not affiliated with SoFi HK or its Affiliates. These trademark holders do not sponsor or endorse SoFi HK or any of its articles.
Without prior written approval of SoFi HK, the information/materials shall not be amended, duplicated, photocopied, transmitted, circulated, distributed or published in any manner, or be used for commercial or public purposes.