TL;DR:
- Bengaluru-based Personifwy introduces HYRGPT, a generative AI-based software for HR.
- HYRGPT aims to streamline hiring by automating the initial two rounds of the process.
- The software uses NLP and ML to analyze resumes and identify relevant candidates.
- HYRGPT conducts automated interviews, eliminating fixed standard questions.
- It can assess technical questions without the need for specialized hiring managers.
- The software is currently used for top-of-the-funnel filtration in IT, ITeS, BFSI, and healthcare sectors.
- Founders anticipate reduced cost per hire, but human judgment is still crucial.
- Challenges lie in making AI relevant for all roles due to emerging job roles.
Main AI News:
Bengaluru-based candidate and employee engagement platform, Personifwy, has introduced HYRGPT (HYR for hire combined with GPT), a powerful generative AI-based software that is set to transform the HR or human resources domain. This cutting-edge technology aims to streamline the hiring process by eliminating the first two rounds, saving valuable time and resources.
Traditionally, recruiters manually scan each CV, using basic keywords to shortlist candidates for initial interviews. HYRGPT, in its beta phase, uses advanced natural language processing (NLP) and machine learning (ML) algorithms to analyze resumes, identifying the most suitable candidates based on their skills, work experience, and job relevance. Furthermore, the software conducts automated interviews with shortlisted candidates, removing the need for recruiters to ask fixed standard questions.
What sets HYRGPT apart is its capability to ask and assess technical or functional questions across various domains, without the requirement of a specialized hiring manager. This ensures candidates are thoroughly evaluated on their technical abilities and suitability for the role they are being considered for.
CEO Debi Kar explained that the software operates as a versatile screening tool, conducting hundreds of screenings in parallel, tailoring each evaluation to the unique needs of the role. As a result, roles that were previously handled by ‘talent acquisition executives’ and allied roles may become obsolete if the software is widely adopted.
Though HYRGPT has been officially rolled out and is already being piloted by six companies, the founders assert that it should be viewed as a decision-making support tool, with human judgment still being essential. The insights provided by the software can be used as a reference for further evaluations and interviews to validate candidate suitability.
As for adoption, HYRGPT is gaining traction in sectors such as IT, ITeS, BFSI, and healthcare, which often hire in bulk. The software currently serves three primary user groups: recruitment process outsourcing (RPO) and staffing firms, Indian multinationals, and individual recruiters.
Despite its potential to revolutionize the hiring process, some believe that its impact on existing roles may be limited. An IT staffing vice president from a Mumbai-based consultancy firm with over 30,000 employees stated that the software is best suited for roles requiring technical evaluations, while other types of roles might be more challenging for AI to assess effectively.
Conclusion:
HYRGPT’s emergence in the HR domain signifies a disruptive shift in the hiring process. By leveraging generative AI and advanced algorithms, it offers the potential to significantly reduce hiring time and costs. The software’s adoption may revolutionize talent acquisition in industries hiring in bulk. However, human judgment remains essential to ensure the suitability of candidates for unique needs and roles that AI may not yet effectively assess. Businesses should carefully integrate this technology as a powerful decision-making support tool, harnessing its strengths while retaining the value of human insights.
