Curated Intel from the Talent Tech Industry
August 14-20, 2023:
• Helping hire people more effectively: Paradox partners with HBR on study of AI and automation;
• Pondering the perennial question: Should recruiting be separated from the HR Department;
• Finding roles for generative AI: LinkedIn intros AI tools to help recruiters connect with talent;
• Replacing humans with automatons: 11xAI closes $2M round to develop autonomous workers;
• Walling off copyright data: NYT sues OpenAI to deny newspaper content for ChatGPT training.
PLUS
Early Bird Discounts for TAtech Europe & The World Job Board Forum end in just 1 week. Don’t miss this opportunity to attend the premier B2B conference for job boards and talent technology companies in the EMEA region AND save big! Coming up in London on December 4-6, it is the only event that’s specifically designed for company CEOs, their direct reports and rising stars and totally focused on advancing the bottom-line growth of their enterprises. So, don’t delay; register today to take advantage of Early Bird Discounts.
Harvard Business Review Research Reveals How AI Is Making the Recruiting Process More Effective -- and Positively Impacting Business Success
The Harvard Business Review (HBR) today released research that studied the impact AI is having in talent acquisition effectiveness and overall business success. The study was completed in partnership with Paradox, the conversational recruiting software helping companies like Unilever, Nestlé, Pfizer, and General Motors automate recruiting work to make the hiring process more efficient. Data from HBR's survey revealed that automation is driving positive outcomes, with 97% of survey respondents whose organizations have adopted automated technologies in their hiring process, saying that it has helped hire people more effectively, led to quicker interview scheduling and reduced candidate drop-off. The report, "Transforming Talent Acquisition Through the Power of Automation and Artificial Intelligence" — which surveyed 326 senior business and HR leaders — showed that an overwhelming portion (91%) of key decision makers believe optimizing hiring processes with automation and AI is necessary for long-term business success.
Should Recruiting Be Removed from HR?
Talent acquisition (TA) has been a core component of HR for decades, but the relationship isn't always mutually beneficial. Some TA professionals believe housing recruiting and hiring within HR has been a grievous mistake, due to the essential differences between the roles, while others argue that more holistic integration—not separation—is the solution to any dysfunction between the two groups. The push for separation typically comes from recruiting professionals who want more of a direct line to business leaders such as the C-suite or to department heads who understand more than HR professionals the specific talent they need to succeed. Experts say that the key differences in workplace culture and day-to-day duties between the functions are extensive—that HR is essentially focused on compliance and management, while talent acquisition is more akin to selling and branding. Recruiters also say that HR, as an umbrella function, is faced with too many competing priorities and has not traditionally valued talent acquisition as the strategic asset it should be.
LinkedIn launches AI tools to identify, connect to job candidates
Talent acquisition professionals can use two new LinkedIn tools with AI-powered features to find job candidates and reach out to them strategically, the company announced recently. Through LinkedIn Recruiter, the Likelihood of Interest tool identifies candidates who are more likely to engage with hiring professionals about open roles, and the AI-Assisted Messages tool uses generative AI to create personalized InMail messages to candidates. “Nearly three-quarters (74%) of hiring professionals hope that integrating generative AI into recruiting will help them automate repetitive tasks so they can prioritize more high-value strategic work. Those hopes are beginning to flower,” Bruce Anderson, a content marketer and editor, wrote on LinkedIn’s Talent Blog.
11xAI closes a $2M pre-seed round to create autonomous AI workers
11xAI announced the closing of a $2 million pre-seed round led by Project A Ventures today. In conjunction with its fundraise, the company also launched its service. The London-based company builds automated digital workers that can be used in lieu of human employees. It has built an AI sales development representative called Alice and plans to create James, focused on automated talent acquisition and Bob, targeting automated human resources work in the upcoming years. Speaking to TechCrunch, co-founder and CEO Hasan Sukkar believes autonomous agents are the future of the workforce and specifically designed 11xAI to help smaller businesses increase their productivity to better compete with larger companies.
NYT v. OpenAI: A Copyright Story
The New York Times (NYT) is contemplating legal action against OpenAI, the organization behind ChatGPT. The crux of the dispute lies in copyright concerns surrounding the use of the newspaper's content. Negotiations between the two entities have been ongoing, with NYT aiming for a licensing agreement that would allow OpenAI to incorporate its stories into AI tools. However, these discussions have reached an impasse, pushing the newspaper to consider litigation. A significant worry for NYT is ChatGPT's potential to act as a competitor. The AI model can generate text based on the newspaper's original content, potentially reducing traffic to NYT's website. This concern is magnified with tech giants like Microsoft integrating ChatGPT into platforms like Bing.
Early Bird Discounts for TAtech Europe End in Just 1 Week
Early Bird Discounts for TAtech Europe & The World Job Board Forum end in just 1 week. Don’t miss this opportunity to attend the premier B2B conference for job boards and talent technology companies in the EMEA region AND save big! Coming up in London on December 4-6, it is the only event that’s specifically designed for company CEOs, their direct reports and rising stars and totally focused on advancing the bottom-line growth of their enterprises. Whether your company is a niche or general job board, aggregator, talent marketplace, online classifieds business, programmatic platform, chatbot, conversational AI solution, ATS, recruitment marketing solution, CRM platform, interviewing or assessment system or talent technology consultancy, this event will supercharge your sales and your profits. So, don’t delay; register today to take advantage of Early Bird Discounts.