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Uncorking the Bottleneck in the Hunt for Talent
  + stars: | 2024-10-02 | by ( Steve Kovach | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUncorking the Bottleneck in the Hunt for TalentAs more companies turn to AI to help with their hiring decisions, the potential for bias, discrimination, and just plain bad results is significant. Named one of Time Magazine's 100 Most Influential People in AI for 2023, Moonhub Founder and CEO Nancy Xu will share how this innovative startup is using generative AI and natural language processing to help companies find top candidates, in less time, that might otherwise be overlooked by traditional search methods.
Persons: Nancy Xu Organizations: Hunt, Talent, Moonhub
AI skills are in high demand as companies aim to leverage AI for competitive products. AI expertise can lead to lucrative roles in Big Tech or startups and substantial pay raises. AdvertisementAI skills are in high demand in the job market as more companies seek to use the technology to compete with rivals and become more efficient. Having AI expertise could also land you a position at a Big Tech giant, startups — or even get you a pay bump. This story is available exclusively to Business Insider subscribers.
Persons: , Nancy Xu Organizations: Big Tech, Service, Business
They can now add AI recruiting systems to that pile. It turns hiring into a depersonalized process, it inundates hiring managers, and it reinforces weaknesses in the system it's designed to improve. AI is supposed to fix this mess, saving companies time and money by outsourcing even more of the hiring process to machine-learning algorithms. Platforms like LinkedIn and ZipRecruiter have started using generative AI to offer candidates personalized job recommendations and let recruiters generate listings in seconds. Several seasoned recruiters told me they hadn't incorporated AI into their workflow beyond auto-generating job descriptions and summarizing candidate calls.
Persons: Josh Holbrook, Holbrook, I've, Rik Mistry, Ian Siegel, , ZipRecruiter, weren't, it's, Tatiana Becker, Becker, Pallavi Sinha, Sinha, Kerry McInerney, Danielle Caldwell, chatbot, Caldwell, Mclnerney, Peter Laughter, who's, Bonnie Dilber, Dilber, Aki Ito, Sandra Wachter, Wachter, David Francis Organizations: Business, Society for Human Resource Management, LinkedIn, Unilever, Google, BI, Microsoft, University of Cambridge, University of Sussex, Berkeley Haas Center for Equity, Gender, Leadership, Black, University of Oxford, IBM, Talent Tech Labs Locations: Alaska, HireVue, Humanly, Portland , Oregon, Zapier
Virtual reality startup Moonhub has raised $1.4 million in funding. Moonhub offers immersive, on-the-job training to companies through its VR platform. AdvertisementVirtual reality training startup Moonhub has raised $1.4 million from Unconventional Ventures, taking its total funding to $4.5 million. The London-based startup, which was founded in 2016, offers immersive training to a range of companies through its VR platform. "We allow people to learn on the job, and also complete any corporate training, through VR," said cofounder and CEO Dami Hastrup.
Persons: , Dami Organizations: Service, Unconventional Ventures, VR, Business Locations: London
Driven by the recent AI boom, companies are raiding top college campuses for rare technical talent. She's currently on leave from her Stanford AI Ph.D. program to focus on Moonhub. In 2011, new AI Ph.D. graduates took jobs in the tech industry and academia in about equal measure. But since then, the majority of new grads have headed to the AI industry, with nearly double the percentage of AI Ph.D. grads taking industry jobs versus academic roles in 2021, according to Stanford's Institute for Human-Centered AI's 2023 AI Index Report. "All AI companies have roles for people with Ph.D.s and without," said Attaluri, the soon-to-be researcher at DeepMind.
Driven by the recent AI boom, companies are raiding top college campuses for rare technical talent. She's currently on leave from her Stanford AI Ph.D. program to focus on Moonhub. In 2011, new AI Ph.D. graduates took jobs in the tech industry and academia in about equal measure. But since then, the majority of new grads have headed to the AI industry, with nearly double the percentage of AI Ph.D. grads taking industry jobs versus academic roles in 2021, according to Stanford's Institute for Human-Centered AI's 2023 AI Index Report. "All AI companies have roles for people with Ph.D.s and without," said Attaluri, the soon-to-be researcher at DeepMind.
Marketplace startup HeadRace helps connect recruiters with employers looking to hire. The startup has raised $6 million in seed funding from Greylock, Susa Ventures, and Breyer Capital. After going through the exhausting process of hiring dozens of employees while at Uber and Flexport, Korsos was inspired to change the hiring system. Although hiring has slowed in large, public companies, it's actually accelerated in early-stage startups looking to fill a number of specialized roles, Korsos told Insider. Moving forward, the startup plans on using its seed funding to build out its technology offerings and improve its scalability, Korsos told Insider.
Moonhub is an AI startup aiming to make the recruiting process more automated and less biased. The company scrapes billions of public data points and makes them easily searchable for recruiters. The startup recently raised $4.4 million in seed funding from Khosla Ventures and Google Ventures. OpenAI-backer Khosla Ventures and Google Ventures were equally enthusiastic about Moonhub's mission, recently providing the startup with $4.4 million in seed funding. Luckily, she was able to leverage her network to raise the round in less than two weeks, she said.
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