artificial intelligence Archives | Business News This Week

Rackspace Technology to Acquire Just Analytics, a Leading Provider of Cloud-based Data, Analytics, and Artificial intelligence Services

January 20, 2022 Praveen Comments Off

Rackspace Technology® (NASDAQ: RXT), a leading end-to-end, multicloud technology solutions company, today announced that it has agreed to acquire Just Analytics, a leading provider of cloud-based data, analytics, and Artificial Intelligence (AI) services based in […]

Automotive Innovations and Artificial Intelligence are the big trends we foresee in Automation sector

October 11, 2021 Praveen Comments Off

A-TECH is a Taiwan based company, founded in 1995 and co-established by senior researchers from the Industrial Technology Research Institute of Taiwan (ITRI). Their experienced staff have taken part in many automated projects over the […]

Team Karunya and Dr. Nitin Patel come up with an Indian Patent which is a light weight fabric electro adhesive clutch for Artificial Intelligence and IoT enabled virtual reality haptic gloves

September 18, 2021 Praveen Comments Off

A team of faculty members from Department of Applied Physics and Department of Applied Chemistry Karunya Institute of Technology and Sciences (KITS), Coimbatore along with Dr. Nitin Patel, Head Physiotherapist, BCCI has come up with […]

Samsung Sets up a World-class Artificial Intelligence, Machine Learning & Data Engineering Lab jointly with KLE Tech University

August 2, 2021 Praveen Comments Off

Samsung has set up a world-class artificial intelligence, machine learning and data engineering lab at the KLE Technological University in Karnataka’s Hubballi, providing young Millennials and Gen Z students an exciting opportunity to research in […]

AI is viewed as a game changer by businesses, GlobalData poll shows

April 29, 2021 Neel Achary Comments Off

Artificial intelligence (AI) is expected to be the most disruptive emerging technology, according to the latest report from GlobalData, a leading data and analytics company. In response to a poll by the company, 65% of respondents stated […]

AI is emerging as a Potent Force for Enterprises to Innovate & Transform

January 29, 2021 Rekha Nair Comments Off

Artificial Intelligence would help India create a technology garage for the world, deliberated Mr. Arnab Thakur, Former Programme Director (Atal Innovation Mission), NITI Aayog in an interactive webinar organized by PHD Chamber of Commerce and […]

For years, the biggest challenge in the recruiting industry has been manually testing applicants, thankfully Artificial Intelligence (AI) is now a reality. AI for recruitment has been a rapidly evolving platform for HR professionals. The days of reading CVs and covering letters then holding interviews will give way to AI-led candidate assessment. Jobseekers will be sifted by algorithms and face exercises that test everything from problem-solving skills and creativity to how they respond to stress. It empowers HR professionals to reach the right candidate in the least possible time with low-cost inclusion. In a recent study, 52% of talent acquisition leaders say the hardest part of recruitment is identifying the right candidates from a large applicant pool. According to a survey of talent acquisition leaders, 56% say their hiring volume will increase this year, but 66% of recruiting teams will either stay the same size or contract. This means that recruiters are being tasked to do more with less. If you are a business leader looking to hire or recruitment manager of a firm on the lookout for new employees, then you should consider the fast-rising employment solutions that provide AI-enhanced recruitment to clients. It is crucial for any growing company and business to not merely hire employees, but rather to recruit the most qualified and suitable employee for the vacant position. In the modern business climate, he always wins who starts first as very soon HR in India will be a reincarnated industry and so to keep up with advancements HR professionals should gear up with AI technologies. It’s a technological revolution so it’s mandatory to start early and reap its real benefits. There are several benefits that differ from AI-enhanced HR solutions from traditional ones. The first and prior is that it saves time. Manually screening resumes is a daunting task in the hiring process, but not if you are using an AI-enabled recruitment strategy. AI is becoming the backbone of the industry for companies that need to recruit thousands of employees in a short time. The only thing left for the recruiter is to provide the AI with a database to work on and to check the final list of the candidates before the AI sends out emails for an interview. The AI-based recruitment system is evolving at a very fast pace, Mr. Kunal Gupta, MD, Mount Talent Consulting Pvt. Ltd., said…. “A recruitment system based on artificial intelligence is capable of screening candidates in a more systematic way while looking out for a particular set of skills without any human intervention and it is quite amazing. It has algorithmic power to conclude the performance of job applicants. It can even track online interviews on a time basis. If an applicant finds difficulties in any kind of topic, then AI will ask similar questions, again and again, to check how the applicant reacts in pressure” he said. Kunal noted that with AI, the only thing you have to do is provide the system with certain input or parameters and database and it will deliver the best possible solution. AI recruiting systems are designed to tremendously improve recruiter's efficiency and workflow. The best part about recruitment through an automated system is that not only does it save time, but you also won't miss any talented candidates. The system’s efficiency ensures the most talented candidates are among the first ones sent invitations for an interview. Today’s business leaders are always looking for improved quality of hiring and so there is tremendous work pressure on recruiters to match and hire the candidates who can meet the management expectations. AI optimized hiring will help you improve your hiring process saving you a lot of your time, money and mos”t importantly getting the right hires. Employing technological solutions and replacing manual jobs are mostly the cost-saving tactic which goes the same with the recruitment sector. AI recruitment software is designed in a way that automatically targets the potential employee and most capable job seekers, delivering better and faster solutions at a low cost. Additionally, all these factors, benefits, efficient processes and solutions that AI delivers have an effect on reducing your cost per hire. You only have to invest in the AI system once unlike the recurring costs of recruitment agencies that charge you for the employee per hire. Although there are many challenges to leveraging AI's full potential. First is competence, as the AI ecosystem, like its most important subfield, machine learning (ML), is still very small. It's difficult to find and hire good talent. The simple way to solve it out is to hire an agency which has highly skilled professional familiar with AI technologies to give your HR team the AI training on fixed intervals. Non-adoption is another major risk. Any challenge in the world, and especially in business, is an opportunity for AI. Adopting Artificial Intelligence will require patience and a willingness to learn, and will be complex and lengthy, so firms need to start now. To conclude, AI being in the early stages is already doing wonders in the process of finding and hiring the best talent. Between the ongoing development of AI to recruit applications and the understandable lag in implementation at this early stage, many of the features that AI can bring to the recruitment process are still to be completely implemented. Still, we can talk with confidence and aware HR professionals about what AI can, and in some cases, already do, do for recruiters.

Private Sector Expects to Lose Control of AI Governance Within Five Years, Says New Study

January 20, 2021 team Comments Off

A lack of accountability within the private sector will lead to governments taking over responsibility for AI regulation over the next five years, according to new research by Pegasystems Inc. (NASDAQ: PEGA), the software company […]

Rolls-Royce pioneers cutting-edge technologies

Rolls-Royce Publishes Pioneering Bias-Control AI Ethics Toolkit

December 15, 2020 Neel Achary Comments Off

Rolls-Royce has released its breakthrough work on artificial intelligence (AI) ethics and trustworthiness to help support the future health, wealth and growth of the world. The comprehensive ethical framework and trustworthiness process is free to download from […]

Students of SRM University-AP, Andhra Pradesh become successful young entrepreneurs

November 25, 2020 team Comments Off

With the vision of bringing surveillance cameras to life, Sourav Sanyal, Miran Junaidi, and Saurabh Ghanekar, 4th year, Department of Computer Science and Engineering, SRM University-AP, Andhra Pradesh, founded OurEye.ai, an automated, end-to-end video intelligence […]

Pega Introduces First RPA Auto-balancing Feature for Hands-Free Bot Workload Management

November 19, 2020 Neel Achary Comments Off

Pegasystems Inc. (NASDAQ: PEGA), the software company empowering digital transformation at the world’s leading enterprises, today introduced Pega RPA Auto-balancing – the industry’s first Robotic Process Automation feature that automatically provisions workloads between an organization’s […]