Team IO | Innovation Origins | May 10, 2023
Research by MIT Sloan Ph.D. student Emma van Inwegen shows that job seekers with AI-assisted resumes are 8% more likely to be hired, receive 7.8% more job offers, and earn 8.4% higher wages. The study analyzed 480,948 applicants in a global online labor market for contract work, concluding that a well-written resume plays a crucial role in hiring decisions. AI algorithms assisted in fixing spelling, grammar, punctuation, word usage, phrase overuse, tone, and style. Eliminating spelling and grammatical errors can significantly boost one’s chances of landing a job, making AI a cost-effective and affordable option for job seekers, especially non-native English speakers. Employers may also benefit from using AI throughout the hiring process, potentially making them more attractive employers.
In the research by van Inwegen, the study was conducted by analyzing job seekers in a global online labor market for contract work. The researchers randomly assigned half of the job seekers algorithmic writing assistance while the other half completed their resumes without any help. The experiment aimed to understand the impact of AI-assisted resume writing on hiring outcomes, as well as identifying specific types of errors that could be detrimental to a candidate’s success.
AI-powered resume builders to the rescue
Several AI-powered resume builders and CV makers are available to help job seekers create professional resumes. These platforms offer customizable templates, AI-powered text suggestions, keyword optimization, editing tools, and additional features such as cover letter builders. Some popular AI resume builders include Kickresume, Teal, and Enhancv.
Most of these resume builders are based on GPT-4 with some specific enhancements to create the perfect resume.
Advantages of AI resume builders
AI resume builders offer several advantages for job seekers, such as automating resume drafting in seconds, generating matching cover letters, providing personalized improvement tips, and offering customizable ATS-ready templates designed by professional typographers and recruiters. These tools can save time and effort while ensuring a polished resume that highlights relevant skills, experiences, and accomplishments.
For non-native English speakers, AI-generated resumes can be particularly beneficial, as they help correct spelling, grammar, and punctuation errors, enabling them to present themselves better to English-speaking employers. This can level the playing field for applicants who may struggle with English in their resumes.