Hiring decisions are one of the most important decisions companies make. It impacts a company’s performance and people’s life. Novel ways of using AI can change the way hiring is done forever. Mojob is a Norwegian startup, building an AI-powered recruitment tool for service companies.
Artificial intelligence can help the right company and candidate find each other
Making predictions about how well a candidate will perform in a job is known to be very hard. There is a myriad of variables one needs to take into account. This is also why up to 50% of all hires fail. Making a bad hire is extremely expensive for all parties involved. That’s why companies like Mojob are investing millions of dollars in understanding how machine learning can help companies and candidates avoid making mistakes.
Traditionally, hiring is seen to be a skill humans have in assessing people. Research shows however that the best recruiters find patterns using assessment tools like tests, cases, and structured interviews. Humans have in the past had the advantage of being able to gather more information on a candidate by seeing, hearing, feeling, and smelling the candidate. Today computers can access more of this data than before, and they take the whole data set into account when making a decision, while humans bases their decisions on simplified heuristics.
Mojob’s AI is built using machine learning on 100 000+ hiring processes. The AI has through trial and error and feedback from Mojob’s users learned to predict what candidates will turn out to be a great hire. On top of this learning, Mojob uses its recruitment automation software to help HR managers to automate hiring processes.
The AI uses an unthinkable amount of data to make a decision
Mojob has removed information that can lead the algorithm to make biased decisions. Gender, race, age, etc. is, therefore, anonymized. An important factor in the decision personality of the candidate and the culture of the company and the nature of the job. While most qualifications of candidates can be done rather easily with screening questions, the AI analyzes, all imputed text, time spent submitting the application, and microexpressions during a video interview. All this is analyzed in seconds to assess how good of a fit the candidate is.
The risks of AI hiring
Being evaluated by a robot is something many of us have experienced when for instance applying for a bank loan. It doesn’t feel great being coldly rejected by a computer. This may also be the case with a hiring decision. Another risk is the AI developing biases. That’s why one for now still only sees AI in recruitment as a tool, assisting and supporting hiring managers to make the right hiring decisions.
Due to its immense potential, there is a belief that companies receiving large amounts of applicants are going to rely on AI to a large extent in making hiring decisions.