Managing Director & CEO Archives | Page 2 of 2

Universal Sompo General Insurance and BSE EBIX join hands

August 15, 2020 team Comments Off

Mumbai, August 15, 2020: Universal Sompo General Insurance Company Ltd, a joint venture between Indian Bank, Indian Overseas Bank, Karnataka Bank, Dabur Investment Corp and Sompo Japan Insurance Inc, on 15th August 2020 announced its […]

‘BharatBenz Exchange’ Taps Used CV Market

August 8, 2020 team Comments Off

Daimler India Commercial Vehicles (DICV) today announced the launch of ‘BharatBenz Exchange’, its new offer to the used commercial vehicle segment. By leveraging its growing customer base and nation-wide dealer network, BharatBenz Exchange will supplement […]

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.

USGIC Launches India’s 1st AI-powered Conversational Agent for Motor Insurance

July 30, 2020 team Comments Off

Mumbai, July 30, 2020: The Covid-19 pandemic has caused ambiguity and disruption in customer services across the world and has changed the lives of people in unthinkable ways. In these unforeseen circumstances, Universal Sompo General […]

METRO Cash & Carry India taking stringent safety measures for customers

METRO Cash and Carry India reinforces its commitment to the Kiranas and Small & Medium Enterprises (SMEs) with its 17th Anniversary celebration

July 20, 2020 team Comments Off

· In an endeavor to empowerKirana stores and small businesses, METRO launched its E-commerce app in April 2020 · To commemorate its 17 years journey in India, a one-of-its-kind sale is underway at all the27 […]

L&T Infrastructure Finance closes the $ 100 million ECB from AIIB for Renewable Energy Finance

July 8, 2020 team Comments Off

July 7, 2020, Mumbai, India: L&T Infrastructure Finance Company Ltd. (LTIF), the wholly-owned subsidiary of L&T Finance Holdings Ltd., has received the first tranche of $ 50 million of the total $ 100 million ECB […]

Thane Police Covid-19 Awareness Campaign

Godrej Properties join hands with the Thane Police Commissioner’s Office

June 1, 2020 team Comments Off

Godrej Properties join hands with the Thane Police Commissioner’s Office to launch a Public Service Communication Campaign entitled ‘Humara Sankalp – to fight relentlessly against Corona and to make citizens ready for the same’. ~ […]

Daimler India Commercial Vehicles Announces Changes in Top Management Team

May 13, 2020 Praveen Comments Off

Daimler India Commercial Vehicles (DICV) today announced the appointment of two new top executives, Muthu Maruthachalam C and Karl-Alexander Seidel. Mr. Satyakam Arya, Managing Director & CEO, Daimler India Commercial Vehicles, said: “Muthu Maruthachalam C […]

Rajeev Yadav, Managing Director & CEO, Fincare Small Finance Bank

Fincare Small Finance Bank posts annual net profit of 101.98 Cr

May 21, 2019 Neel Achary Comments Off

Mumbai: Fincare Small Finance Bank announced its audited financial results for the year ended 31stMarch 2019 today. It is one of the 10 entities to have received in-principle approval from RBI in 2015 and commenced […]