Insider Brief
- Hiremii Ltd., an Australian staffing firm, has received pledges totalling AU$500,000 (US$340,257) to enhance its artificial intelligence recruitment tools.
- The investment, from both new and existing investors, will be used to upgrade their three AI tools: Sourcd.ai, Shortlist, and Videofy, which assist in various stages of the recruitment process, from reaching out to candidates to summarizing CVs in video format.
- The funds will not only improve existing AI products but also facilitate the development and marketing of new AI technologies.
PRESS RELEASE — PERTH, AUSTRALIA /December 29, 2023— Staffing firm Hiremii Ltd. (Hiremii) has secured pledges totaling to AU$500,000 (US$340,257), which it aims to use to upgrade its suite of artificial intelligence (AI) recruitment tools.
Hiremii secured the funds from new and current investors and is looking to use part of it to improve its three AI recruitment tools: Sourcd.ai (Sourcd), Shortlist, and Videofy.
Sourcd is a writing assistant for recruiters to generate emails to reach out to potential candidates. Shortlist streamlines the selection process by choosing qualified applicants from multiple job resumes based on a prompt created by the recruiter. Videofy creates an interactive short video, summarizing a candidate’s CV.
In addition to strengthening its AI product offerings, Hiremii will utilize the funds to develop new AI technologies and subsequently market these latest solutions to clients.
“We are looking forward to continuing to make strides across our technology portfolio helping enable [organizations] to harness artificial intelligence to make quicker and more accurate hiring decisions,” said Hiremii managing director, Andrew Hornby.
Recruitment through the use of AI tools has gained mixed reactions from several parties in Australia. A report by The Guardian reveals that a certain applicant was rejected 350 times before finally landing a job 18 months later.
According to the applicant, she can count “on one hand how many [personalized] interview processes” she had. She believes that the automated screening process does not bode well for prospective applicants, as it could lead to “job search depression.”
Several firms prefer this new approach as it saves time and cuts costs. An expert claims that the old method of manually screening applicants does not always lead to the perfect candidate.
However, research has revealed that AI-assessed job applications promote biases against women and cultural minorities. Also, AI-processed decisions — with no human intervention — have led to “meritorious applicants missing out on promotions.”
