How AI and video are redefining talent recruitment

untitled design8

We’re excited to bring back Transform 2022 in person on July 19 and virtually from July 20-28. Join leaders in AI and data for in-depth discussions and exciting networking opportunities. Register today!

Although there is a vast amount of data available for human resource and talent analytics today, most organizations are still not reaping the benefits of their investments in analytics. Gartner reports that only 21% of HR leaders agree that their organizations are effectively using talent data to shape talent acquisition and recruitment strategies, improve employee engagement, and inform other business decisions. As the report notes, more data does not convert into more actionable insights for many businesses.

However, MyInterview – an Israel-based company that aims to enable hiring managers to leverage video to screen candidates at scale – claims to have developed a platform that captures, plays and interprets candidate-generated videos. that answer predetermined questions.

MyInterview was co-founded in 2016 by CEO Benjamin Gillman and CPO Guy Abelsohn, who both believe the traditional resume is fast becoming obsolete. The company uses artificial intelligence (AI) and machine learning (ML) models to ensure fast and efficient recruitment processes for enterprise and mass market HR teams.

Gillman told VentureBeat that MyInterview helps employers save up to 70% of their hiring time, giving them the information they need to hire the best candidate for their open positions. He noted that MyInterview’s video interview platform allows employers and job seekers to meet much earlier in the recruitment funnel. MyInterview is committed to empowering organizations to meet people, not resumes.

READ MORE:  Are VR apps for Oculus a good workout? We tested the big names.

Accelerate the recruiting funnel with AI

Gillman said most recruiting funnels today are long, non-competitive processes. Alternatively, he noted that MyInterview’s mission is to create short and efficient recruitment funnels because it’s better for everyone.

The company uses ML techniques to interpret video, video capture, compression and delivery over different internet stabilities. Gillman said the AI ​​component of the MyInterview platform extracts information from videos using these two models:

  • An NLP/text analysis template that identifies keywords and phrases that align with various personality tendencies.
  • An ML-trained database of tens of thousands of interviews, with each interview rated by a team of four different behavioral psychologists against specific criteria.

Gillman noted that using these templates is critical because there is a huge volume of data along the recruiting funnel that organizations often miss by focusing solely on candidate resumes. There’s more to the candidate than just the resume, and our platform helps recruiters gather data they wouldn’t normally get on paper, he said.

READ MORE:  Industry is Growing Fast and an Increasing Number of Films Produced have Attracted Global Audiences and are Distributed Worldwide

He noted that companies can get a lot more data from someone speaking casually in a video than from text and other forms of data. According to Gillman, videos allow for better expression, rather than the standard items listed on a resume.

“With our platform, job seekers can apply for positions in record time. The platform also allows employers to get answers to candidates much faster. More people are taken care of and less time is wasted. Recruiters also have more time to build relationships and are free from administrative bottlenecks with follow-ups and no-shows,” Gillman said.

MyInterview analyzes each video interview to verify the soft skills, personality traits and keywords that allow organizations to select candidates who match their culture, mood and goals, while reducing the risk of bias or human feeling. The company’s training data is currently based on about 30,000 conducted interviews, according to Gillman.

Competitive advantage

Gillman said one of MyInterview’s advantages over other industry players is its position to serve not just businesses, but also the mass market, such as large online job boards.

According to Gillman, other differentiators include the company’s proprietary filtering and search model, collaboration tools and one of the largest integration marketplaces. MyInterview’s automated screening capabilities allow recruiters to uncover talent that might otherwise have been overlooked – a feature that Gillman said no one currently offers in the market.

READ MORE:  Israel firm promises to purge digital footprint

Software comparison and product review platform G2 shows that MyInterview currently has strong competition in Spark Hire, Jobvite, TestGorilla, CodeSignal and Workable.

Business model and expectations

MyInterview is a subscription-based business-to-business (B2B) software-as-a-service (SaaS) platform, with plans ranging from free to $329 per month. Company plans include maintenance volumes and feature availability. MyInterview clients include Marriott Hotels, Meta, Billable, Agoda, McDonald’s and more.

Since its inception, MyInterview has raised a total of $6.2 million from investors like Aleph, Entrée Capital, and SeedIL, among others. After welcoming a new COO in Amalia Bercot, who founded SendinBlue, MyInterview is looking to bolster its team as the company continues to integrate with other industry solutions.

“MyInterview saw 120% year-over-year growth last year and is on track to grow even more this year,” Gillman said.

VentureBeat’s mission is to be a digital public square for technical decision makers to learn about transformative enterprise technology and conduct transactions. Learn more about membership.

Source link

Leave a Comment