Techcrunch reports on a new startup Leap.ai, which is aiming to change the way that tech jobs are filled using AI technology.
Richard Liu and Yunkai Zhou, two former Google employees observed that Linkedin, the current powerhouse in online recruiting methodology fell short in many key ways when it came to providing useful service to human resources departments around the world.
Using Linkedin to find recruits usually requires hiring managers review hundreds of resumes, in what is a mostly quantitative process, rather than a qualitative one. The sheer volume of candidate names and skills requiring review for each potential job opening must have screamed 'AI opportunity' to the two ex-Googlers.
Liu and Zhou utilised their knowledge of applied AI to work on improving the efficiency of matching ideal candidates with open positions. Also key in their thought process is discovering dream jobs and desired roles for each job candidate. The company is confident that when a candidate for their service gives them the names of two companies that they want to work for, they have a strong chance of securing an interview with at least one of those companies.
The Leap.ai founders report that they are nearing profitability with their HR service, predicting to hit that mark in August. Their track record is also impressive, as 70% of its candidate matches managed to pass their first job interview with target companies.
Based in Silicon Valley, Leap.ai has been partially funded by Chinese Venture Capital Zhen Fund. Their ultimate vision for the company is to operate within the United States, China and India, but is focused on being fully established in the U.S. first.
The service can be accessed via an app, which the founders hope will accompany job seekers like a mentor throughout their working life. Important to Leap.ai is the idea that they can help young people map out their career interests and goals and guide them to find fulfilling work. Beyond basic job matching, the team plans to add more capabilities for personal development.
Liu in particular feels a strong need for his app, after seeing first hand the difficulty in hiring 500 tech workers throughout his time with Google. If the same difficulties are also felt throughout the tech industry, then the Leap.ai app could be a game changer through its use of AI to increase hiring efficiency. The company is currently focusing on tech candidates in New York, Boulder, Austin, Seattle and Silicon Valley but is looking to expand.
What elements does the applied AI look to sort to produce a winning candidate match? Some clues can be found in the following passage:
"[Leap.ai] maps out a range of data, including obvious areas like employment history, qualifications and skills and personal interests, career motivation and more, to assemble a more complete picture of a candidate's career aspirations...from there, the system matches job seekers with its clientele of companies that are looking to hire"
Leap.ai clients mentioned in the article include Dropbox and Uber.
Read the full article here.
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