$6.75 Million Raised for Instahiring: an AI Recruitment Platform From Talview
Talview, an artificial intelligence (AI) HR tech startup, has announced that it has raised $6.75 million to build Instahiring, a new AI-enhanced recruitment platform promising to slash time to hire.
Instahiring promises to move beyond streamlining the recruiter's user experience to fully automating core hiring processes like behavioral testing. Instahiring's offering hinges on three principles:
- Task automation, e.g. in scheduling interviews
- Streamlining the interview process, e.g. through smartphone video interview capabilities
- Reusing hiring data, e.g. using the video interview recording to drive additional AI-powered behavioral assessments
Of most interest is the last point, which offers time-to-hire improvements by reducing the number of contact points between candidate and recruiter for the number of insights drawn.
This AI-powered approach brings some considerations:
- On the one hand, using a single automated algorithm to assess all candidates could enable greater equality and less bias throughout the hiring process.
- On the other hand, AI is notoriously susceptible to perpetuating any biases present in its training data, which brings the question of how well this approach will handle candidates from diverse cultural backgrounds, as well as final accountability for hiring decisions.
It will be exciting to watch the development of this platform as a case study in the impact of automation and AI on recruiting.
Our Take
- Talview has raised funds for a new, AI-powered recruitment platform.
- AI allows for the automation of complex assessments.
- If successful, such automation enables significant reductions in time to hire.
- The usual AI caveats apply, such as bias in training data and accountability for decisions.
Source: SoftwareReviews Recruiting Data Quadrant, Accessed September 27, 2019