According to a highly anticipated research report released today by Hunt Scanlon Media, the executive recruiting and talent acquisition sector can expect to see annual double digit growth rates over the next five to 10 year period.

This year, the search industry’s top 50 U.S. leaders grew by nearly eight percent, topping $3 billion in revenue. According to Hunt Scanlon, 19 firms or nearly 40 percent, grew by double digits.

But it is advancing AI technologies fused with a widening global talent shortage that Hunt Scanlon predicts will reshape the sector and drive unprecedented growth in the next decade.

Adoption of AI remains in its early stages across the industry, reports Hunt Scanlon, but the research firm predicts that AI and burgeoning new technologies are poised to transform the way recruiters and talent acquisition leaders do business. The capacity to more quickly source and evaluate talent is driving recruitment firms to turn to tech, said the Hunt Scanlon report.

“Early adopters of AI and related technologies will be clear winners,” said Scott A. Scanlon, Hunt Scanlon Media founding chairman and CEO. “From talent assessment and worker evaluations to background checking, candidate sourcing and retention planning, we see every aspect of the recruiting lifecycle gearing up for revolutionary changes.”

Hunt Scanlon is hosting a conference on October 24 in New York City to further explore the topic of ‘Sourcing Talent with AI’ with talent experts from Microsoft, Medidata, LinkedIn, Deloitte Consulting, IBM, and Egon Zehnder among others presenting their findings and predictions.

To order the ‘2018 Hunt Scanlon State of the Industry Report’ or to purchase a ticket to the ‘Sourcing Talent with AI’ event, please email Christopher W. Hunt at chris@huntscanlon.com