5 companies that are revolutionizing recruiting using Artificial Intelligence

Virtual recruiters and advanced analytics tools come with a proposal for a safer and more transparent hiring process.

Artificial intelligence (AI), using human-like intelligence through software and mechanisms, enables the disruption of the most diverse segments. After all, this is an industry that has grown an average of 20% per year for the past 5 years, according to a survey by BBC Research.

Many organizations have joined the “future” and gained space by efficiently applying AI in everyday activities. For example, some banks started to perform financial services without the help of a human; farms use drones capable of identifying points in a crop that need more irrigation and automatically trigger sprinklers.

AI is not set to replace the recruiter’s work, the importance of the interview, the empathy, and the sparkle in the eye that we sometimes feel when interviewing a candidate. This area deals with human relations, and this will hardly be replaced.

However, AI applications make life easier for recruiters and allow HR to play an increasingly strategic role.

Considering that HR departments are called to be in line with the expectations of young people, who are digital natives and are used to more intuitive and technological experiences.

Can you imagine having access to a virtual assistant that assists your enrollment in selection processes? Today, this is becoming a reality! However, Chatbots, gamification, and Artificial Intelligence applications are ways of no return for companies that always want to be ahead of Talent Acquisition competitors.

Artificial Intelligence can also be used to test candidates’ skills and behaviors in real situations, generating an incredibly smarter database for hiring decisions, reducing their acquisition cost, and making the Human Resources area much more strategic and less operational.

Some applications of artificial intelligence in recruitment and selection

The insertion of technology in the recruitment and selection processes has several applications and brings excellent facilities to those involved.

For example, the specific and slow steps of analyzing curricula one by one and separating the best ones. With AI, this stage ceases to exist in the whole field and is now entirely done in the virtual world.

Specialized software automatically evaluates curricula, selecting those that best meet the requirements of the vacancies.

AI can also automate the online application of skills tests, determining the most appropriate questions to get to know each candidate more deeply.

Applications of competency tests and behavioral profiles can also be made through AI. In this way, there is a guarantee that only the most suitable professionals for a given position reach the end of the process, the personal interview.

5 disruptive companies that are revolutionizing recruiting using AI

Here you have 5 great examples of companies that are using AI to break the ground on recruitment today:

HireVue

HireVue is arguably the best-known AI-powered hiring platform deployed by 700+ companies, including Unilever, Vodafone, PwC, and Oracle. For example, Unilever deployed HireVue AI-driven assessments and achieved £1M annual cost savings, a 90% reduction in time to hire, and a 16% increase in hiring diversity.

Along with voice and facial recognition software, HireVue has a proprietary algorithm to determine which candidates are ideal for a specific job by analyzing their vocabulary, speech patterns, body language, tone, and facial expressions.

The sophisticated machine learning algorithms are implemented by a strong team of data scientists headed by Dr. Lindsey Zuloaga.

Mya Systems

Hiring chatbot Mya Systems uses conversational AI to streamline the recruiting process for staffing agencies and companies such as L’Oréal, Adecco, Hays, and Deloitte.

Mya guides candidates through the entire hiring process, starting from the job search and up to the onboarding. To allow natural conversation with the candidates, Mya leverages state-of-the-art approaches from natural language processing and understanding, supported by a team of experienced machine learning engineers and NLP engineers.

HiredScore

HiredScore transforms how companies hire and retain employees by providing AI-driven solutions that seamlessly integrate with the clients’ existing HR systems, ensuring compliance and security.

HiredScore uses machine learning to understand how large companies hire candidates and develop unique insights to provide grades to new applicants. It lets the company’s recruiters focus on the candidates that match their jobs the best. Also, HiredScore circulates high-quality leads that might have been rejected in past processes or signed up to receive potential job offers from the company.

The company’s proprietary AI is customized for each client, proactively mitigates bias, and is trained on a large dataset that includes 25M CVs, 50M job posts, and 21K career trees. Deep learning techniques are developed and implemented by an experienced team of applied ML researchers and data scientists.

Wade & Wendy

Wade & Wendy’s AI-driven solutions automate task-driven recruitment processes for job seekers and recruiters.

The intelligence of Wade & Wendy is driven by a proprietary recruiting conversation system, cutting-edge text parsing techniques, intelligent workflow automation, and a robust knowledge graph consisting of conversational utterances, linguistic logic, and attributes about job seekers, candidates, and job positions.

To achieve the best performance for their conversational system, NLP data scientists at Wade & Wendy experiment with cutting-edge models, including BERT and XLNet.

Hiretual

Hiretual offers yet another set of AI-powered comprehensive solutions for most recruiting activities.

Hiretual can be easily integrated with 30+ Applicant Tracking Systems (ATSs) to save time with one seamless workflow, sync candidate activities, and manage duplicates. In addition, the solution is supported by smart business analytics and industry-standard security and compliance measures.

The company’s experienced team of machine learning engineers is headed by CTO and co-founder of Hiretual, Xinwen Zhang. You can also learn more about how AI and machine learning technologies transform hiring practices in an interview with Hiretual’s CEO and co-founder, Steven Jiang.

Conclusion

The fact that AI is advancing and occupying more and more space in our daily lives is nothing new; it is present from the time our cell phone rings up in the morning to wake us up and permeates the rest of our day, whether at home, on the street, or at work.

The challenges faced by HR in the contemporary world require constant readaptations. The old management models will not be able to meet the demands that arise. For this reason, managers are increasingly talking about disruptive thinking.

One of the most significant advantages of AI is eliminating the factor “personal opinion of the recruiter” (or guesswork, guesswork, and prejudice) in hiring.

Another benefit is the ability to deal with many resumes objectively and efficiently. But not only that.

Virtual recruiters and advanced analytics tools come with a proposal for a safer and more transparent selection process, breaking the ties with inconsistent and laborious methods and moving forward to modern and digitalized HR Services.

References:

7 AI Companies Revolutionizing Recruiting, by Kate Koidan — TopBot

Why I’ve decided to join HiredScore by Dennis Nerush — HackerNoon

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