As the makers of an AI-powered talent platform, we have a vision of intelligent people management that integrates machine learning and predictive analytics into recruiting and talent development with one seamless platform. We feel that powering our solutions with AI means a smarter way to identify the right people, which skills they have, what training and education they require and what guidance and motivation will keep them motivated to succeed.
We’re also consistently enthused by the growing wave of new & improving AI-powered HR tech solutions our space has seen in recent years. From machine learning and predictive analytics to neural networks and natural language processing (and so much more), industry innovators are continuously finding new ways to optimize inefficient or inadequate talent processes with data intelligence. We’re all jointly making previously impossible initiatives a reality. It’s an exciting time.
Admittedly, though, the landscape of AI-enabled HR tech products and services is vast and can be a lot to keep up with. No sweat — we’ve kept up for you. Below, we’ve featured 8 companies we’re seeing who are making the smartest use of AI for talent acquisition and development. These are some of the brightest examples of how the HR industry is transforming itself into the optimized, efficient function that businesses will soon require to be successful in the future of work.
Mya Systems offers the appropriately named “Mya,” a conversational AI equipped with both natural language understanding and natural language generation. Mya aims to automate sourcing, screening, and scheduling for recruiters; she initiates conversation with candidates right after they apply and assesses them for baseline requirements with real dialogue. She also generates shortlists of qualified candidates based on the rich profiles she creates for each applicant, and handles the interview scheduling back-and-forth.
Mya is an always-available contact for prospective employees (great for the candidate experience), and is all about taking the rote, time-suck tasks off talent acquisition pros’ plates.
Another language-based AI application, Textio’s “augmented writing platform” helps companies create better, more effective job listings. Textio’s predictive engine analyzes global hiring data from over 10 million jobs and their associated hiring outcomes every month, to uncover the language patterns that lead to successful job postings. It then uses this intelligence to make real-time recommendations as you craft your listing, predicting its performance and guiding you to an ultimately solid job post.
Bias, bad writing, and more can easily creep into job listings, but hiring teams with a high Textio Score pull in, on average, 25% more candidates qualified enough to interview, and 23% more women. And they do it all 17% faster.
Ideal bills itself as “recruitment automation software that recruiters love” — and there is, indeed, plenty of automation to love here. The big hands-off benefits are 1) resume screening, which Ideal’s intelligent software handles automatically and accurately, even at high volumes; 2) candidate sourcing, meaning it finds great prospects in external candidate pools on your behalf; and 3) candidate rediscovery, which as the name implies, employs AI to find top talent within your existing talent pool.
Efficiency is the name of the game for Ideal’s solution — it’s “a virtual assistant for your recruiters!”
To give you a better sense of how Ideal thinks about the world, we asked Ji-A Min, who’s the Head Data Scientist at Ideal, “What’s an AI- or machine learning-driven innovation in HR Tech that you’d like to see in 2018 – and what’s one you’re fairly certain we will see?”. She told us the following:
“An AI-driven innovation in HR tech that I’d like to see in 2018 is an intelligent professional development recommendation machine. How great would it be if you could enter a skill you’d like to further develop and a software suggests relevant courses, workshops, and conferences to attend?
The AI-driven innovation in HR tech that I’m certain we’ll see in 2018 is recruitment chatbots. Chatbots and virtual assistants are already a staple in our personal lives as well as in B2C contexts such as customer service. With 2/3rds of candidates stating they’re comfortable interacting with a chatbot and recruiters increasingly inquiring about chatbot functionality, all signs point to the market being ready for chatbot adoption.”
Entelo’s somewhat of a powerhouse when it comes to smart recruiting software. First, their solution goes beyond finding highly qualified candidates to identify those who are most likely to be open to new opportunities, removing another (important!) pre-qual layer from recruiters’ responsibilities. Additionally, the Entelo platform includes a robust candidate search database; recruiter email tracking, management, and analytics; algorithm and search filters built specifically for diversity initiatives; and more.
Forward-thinking talent acquisition teams are perfect for Entelo’s sophisticated offerings. Entelo “empowers the modern recruiter.” They even publish a Recruiting Trends Report that’s definitely worth a look. We asked Lisa Holden, Researcher & Editor the Entelo Recruiting Trends Report, what she saw coming in this space in 2018. Here’s what she says:
“Budgets are shifting toward AI-powered technologies, particularly when it comes to sourcing automation. Next year, 62% of companies plan to spend on AI-powered recruiting software and of those, 86% plan to spend on intelligent sourcing software. This is because savvy talent acquisition professionals recognize the incredible time suck that proper sourcing takes, and are looking for ways to streamline efforts and allocate resources appropriately in order to get ahead in the talent acquisition game.
These findings come from the recently released Entelo 2018 Recruiting Trends Report, which surveyed 1,143 talent acquisition professionals on their strategies, pain points and motivations for the year to come.”
Restless Bandit’s AI application is, you might say, a shortcut to a shortlist (had to). Instead of posting to job boards and inevitably processing an influx of mostly mediocre resumes to find the few qualified candidates, you could use Restless Bandit. Their intelligent tool finds both passive and active qualified talent from a candidate pool of over 100 million, and engages them and only them. Using discovery and rediscovery algorithms, Restless Bandit searches for candidates externally and within your ATS, respectively. It also intelligently and automatically retargets top prospects.
Restless Bandit’s goal is to enable hiring teams to cut out the old school “job post + resume avalanche” approach, leave the preliminary sourcing grunt work to the tech, and focus on…hiring.
We’re loving what we’re seeing at Everwise, a “comprehensive learning platform,” given our emphasis on talent development — it has always been important, but the gig economy’s norms and overall retention concerns demand we make it a priority. Everwise answers the call with individualized, yet scalable, learning programs, as well as talent analytics and insights fit for the enterprise. The Everwise platform was built to support not just content, but also richer forms of education like collaborative and experiential learning.
Everwise aims to provide each employee access to the people, resources, and feedback they need to perform and progress in their careers.
Hire Abby is one of those true win-win tools, in that it majorly improves the candidate experience, while also helping the business make better, faster hiring decisions. Hire Abby, using advanced messaging capabilities, engages applicants in conversation right away — no agonizing waiting game. It fields questions about company culture, and keeps candidates updated on hiring status. It also determines and asks applicants the right questions to assess key skills and even identify personality characteristics and motivators.
Hire Abby helps companies gather applicant intel and predict a candidate’s potential fit for the company — without having to put them through the traditional lengthy, dark-hole hiring process.
Paradox’s AI recruiting assistant, Olivia, takes the focus on candidate experience to a new level. She uses advanced natural language processing to answer all your applicants’ questions; she has real, one-to-one conversations with them through the channel of their choosing — web, mobile, or social. Olivia also handles interview scheduling, and even intelligently provides next steps throughout the hiring process.
Olivia is “obsessed with improving and reinventing the candidate experience” and the Paradox team has set out to make things better for candidates and recruiters alike. And, fun fact: There’s a real Olivia.
We’re inspired by these innovative companies every day as we push forward with our own ambitious AI goals for talent acquisition and talent management. We look forward to continuing to follow their work, and the industry’s progress as a whole. Things are getting smarter and faster as we speak — and it’ll only accelerate from here. Onward!