Artificial Intelligence and its role in the Future of Work

 

The world of HR and recruitment was on the agenda of Global CEOs and world leaders last month as pymetrics participated in the World Economic Forum (WEF)’s annual forum in Davos.

One of the key themes of the event was Artificial Intelligence and its role in the Future of Work, and pymetrics CEO Frida Polli spoke about how the company’s unique blend of neuroscience and custom AI Machine Learning is shaking up the industry by predictively matching people with jobs where they will perform at the highest levels, and auditing and removing historical bias in the process.

The impact of this technology for Ri5 readers is far-reaching. Employers who have adopted pymetrics have seen reductions in their time to hire by 75%, significant increases in the diversity of their intakes, massive increases in their overall hiring yield and improvements in the long-term success of the candidates that are recommended by their technology. The fact that pymetrics also ‘recycles’ those who are rejected – both into other roles within the company where they have applied and elsewhere – has a huge impact on candidate experience and employer brand too.

pymetrics were recognised in 2018 by WEF as Technology Pioneers – early-stage companies from around the world that are involved in the design, development and deployment of new technologies and innovations, and are poised to have a significant impact on business and society. Companies selected in the past include: Airbnb, Google, Spotify and Twitter.

It promises to be a big year for pymetrics, who received $40 million in Series B funding last year in a round led by General Atlantic, Workday Ventures and Salesforce.

Their list of 80 current clients includes the likes of Unilever, Accenture, Linkedin and Kraft Heinz. Expect that list to grow quickly as adoption of AI-led approaches quickens and employers find themselves under more pressure to address inefficiencies and inequalities in the hiring process.

A podcast and transcript of pymetrics’ CEO Frida Polli in conversation with Martin Reeves of BCG’s Henderson Institute at Davos 2019 is available here.

Thursday, 7 February 2019

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