How AI and video are changing the way talent recruitment works

How AI and video are changing the way talent recruitment works ...

While there is still a huge amount of data available for HR and talent analytics today, most organizations are still failing to reap the benefits of their analytics investments. According to Gartner, just 21% of HR leaders use data to shape talent acquisition and recruiting strategies, improve employee engagement and inform other business decisions.

MyInterview, an Israel-based firm that wants to enable hiring managers to use video for pre-screening candidates at an all-time high, has developed a platform that captures, plays, and interprets videos from candidates who respond to pre-determined questions.

In 2016 MyInterview was founded by CEO Benjamin Gillman and Guy Abelsohn, who both believe the traditional CV is becoming increasingly obsolete. The company utilizes artificial intelligence (AI) and machine learning (ML) methods to ensure fast and effective hiring processes for HR teams across the enterprise and mass market.

Fast-tracking the recruitment funnel with AI

Gillman said most hiring funnels today are drawn out, uncompetitive procedures. Alternatively, he said that MyInterviews'' objective is to create short, efficient hiring funnels because it is beneficial for everyone.

Through these two methods, the company utilizes ML techniques for interpreting video, video capturing, compression, and delivery across varying internet stabilities. Gillman said the AI component of MyInterviews platform extracts video information:

  • An NLP/text analysis model that identifies keywords and phrases that align to various personality leanings.
  • An ML-trained database of tens of thousands of interviews, with each interview rated by a team of four different behavioral psychologists based on specific criteria.

Gillman said that it is crucial to use these technologies because of the vast amount of information that organizations often miss by focusing only on candidates'' CVs. Theres more to the candidate than the CV, and our platform assists recruiters in gathering data they would normally not get on paper.

According to Gillman, videos enable better expression, rather than standard items listed on a CV.

Jobseekers are able to apply for roles in record time. The platform also allows employers to get answers to candidates much quicker. More people are considered and less time is wasted. Recruiters also have more time to build relationships and are not afraid of administrative constraints, according to Gillman.

MyInterview analyzes each video interview to see key skills, personality traits, and key phrases that enable organizations to select candidates that align with their culture, vibe, and goals, reducing the likelihood of bias or human sentiment. According to Gillman, the company''s training data currently includes 30,000 interviews.

Competitive edge

One of MyInterviews'' advantages over other people in the field is its ability to serve not only the enterprises, but also the mass market, such as large online job boards.

According to Gillman, other differentiators include the company''s proprietary filtering and search model, collaboration tools, and one of the largest integration marketplaces. MyInterviews automated shortlisting capabilities enable recruiters to identify talents that otherwise might have been overlooked, a feature which no one currently offers in the market.

G2 shows that MyInterview currently has strong competition in Spark Hire, Jobvite, TestGorilla, CodeSignal, and Workable.

Business model and expectations

MyInterview is a subscription-based business-to-business (B2B) software-as-service (SaaS) platform, which includes interviews and feature availability. Marriott Hotels, Meta, Billable, Agoda, McDonalds, and others are among the companies providing services.

MyInterview has raised $6.2 million from investors such as Aleph, Entree Capital, and SeedIL. Having just welcomed a new CEO from Amalia Bercot, who founded SendinBlue, the company is looking to expand its network as it continues to integrate with other solutions across the industry.

Last year''s MyInterview earnings increased by 120% year over year, and it is on track to grow even further this year, according to Gillman.

You may also like: