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Mya Systems (short for "my assistant") has developed an AI that can streamline the recruitment process in multiple ways, including approving resumes, garnering further information on candidates, asking pay-related follow up questions, and scheduling interviews. The AI chatbot — designed to work in tandem with humans rather than replacing them — has the potential to free up human recruiters and lessen the bureaucratic aspects of the hiring process. Its founder, Eyal Grayevesky, told CNN tech that "Recruiters are overwhelmed with so much work because they're doing boilerplate tasks."
Since its launch in 2016, the technology has already been adopted by Fortune 500 companies in banking, consulting and retail sectors: Mya's website reports that it has been phenomenally successful, averaging a 9.8 out of 10 on overall candidate experience, increasing recruiting output by 200%, and reducing overheads by 80%. An additional $11.8 million in funding, acquired earlier this week, may help Grayevesky achieve his goal of eliminating frictional employment — the market failure of a decrease in efficiency due to people being in between jobs.
Source: World Economic Forum
(Score: 3, Interesting) by VLM on Wednesday June 14 2017, @01:04PM
It doesn't really matter.
The bad news is permanent long term economic decline combined with the college bubble and the white collar bubble means there's an enormous number of applicants for every job leading to HR having to work instead of surf facebook all day.
The good news is the massive oversupply of qualified applicants combined with a lack of jobs for them, means the AI doesn't have to be very smart, it can just throw a dart to hire someone and that applicant will statistically be pretty good.
If, say, 5% of applicants are scammers, having 100 applicants means if you try to stack rank unless you're Ms. Poker Player you're going to get fooled and end up hiring a scammer, whereas if you'd just throw a dart you'd have 95% odds of hiring a good one. And they know this, of course.
Life's pretty easy for HR. If they have a lot of applicants they have a lot of paperwork but that implies there's a lot of good people out of work and a dice roller can pick a good one. If they have only a couple applicants that means they have plenty of time to get all nosy into the applicants lives again making it somewhat easier. They have to work the hardest in between. So if they're whining for AI help its because this is more similar to normal time than extreme time.