- By 2030, the employee shortage is expected to cost businesses around $8.5 trillion in lost annual revenues.
The job market has been rapidly evolving, with a shift towards remote work and diverse, international teams. Traditional recruitment methods are often slow and cumbersome.
Companies are looking toward technology, especially AI and ML to streamline the recruitment process, with a combination of human touch and expertise.
“The blend of technology and human touch has condensed a recruitment process that used to span weeks into just a matter of days. It’s a game-changer for the way businesses can source and secure top-notch talent,” remarks Bryan DiGiorgio, Founder and CEO of 1840 & Company, a global outsourcing provider, that has launched its latest evolution in talent acquisition – the Global Talent Cloud.
This AI-driven platform merges human expertise to accelerate recruitment processes for global remote talent and freelance professionals.
The Global Talent Cloud operates by following three key steps:
- Customized Filtering with a Unique Rating System: The proprietary AI-driven resume rating system efficiently evaluates candidates based on job-specific criteria, automatically assigning scores for quick screening. This streamlined process significantly saves resources and manpower amid the high volume of daily applications.
- Targeted Talent Search using Data Attributes: Recruiters can further refine matches for specific roles using specialized “Talent Data Attributes”, enhancing search precision for characteristics like “Blockchain Enthusiast”, “Extensive Project Management Experience”, “Recent Graduates” or “Innovative Thinkers”.
- AI-Powered Linguistic Proficiency Tests: Qualified candidates undergo language proficiency assessments, evaluating their fluency required for each unique business.
DiGiorgio acknowledges the advantages of leveraging AI and ML in this recruitment process, however, he does not diminish the value of human expertise.
“The human element in our vetting process is still indispensable. It adds a layer of assurance that each candidate is not only technically sound but also a good cultural fit,” concludes DiGiorgio.