The efficiency of the recruitment industry is set by the ability of employers and agents to match candidates to vacancies. With a typical hire taking up to six weeks and costing upwards of $4,000, more accurate matching can clearly lead to reduced waste of time and resources, and an impact on a business’s bottom line.
Artificial intelligence, or more specifically, machine learning, excels at matching, of course. One of the inspirations behind Helena – an “AI headhunter” created by recruitment platform Woo – is the recommendation engines developed by online retailers like Amazon.
Impressively, according to Woo CEO and founder LiranKotzer, early results show that employers are accepting for interview 52% of candidates put forward by Helena. This compares very favorably to the performance of human recruitment agents, where the average figure is around 20%, and far better than relying on respondents to postings on job boards – where just 2.5% of applicants will be suitable for interview.
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