Instahyre has developed an AI-based platform that helps companies source, screen, and match job candidates to suitable job roles
Recruiters using AI to scan prospective candidates is not new. For several years, hiring managers have been using AI-powered tools to screen and shortlist candidates, and schedule interviews, etc. However, there is also a downside to it - it could lead to biases.
Take the infamous Amazon AI recruiter tool muddle for instance. In 2014, the company built the AI tool to help screen CVs. Pretty soon, the e-commerce giant discovered a serious loophole in the tool - it displayed a bias against women candidates.
Instahyre, a New Delhi-based startup which uses AI for recruitment, is tackling the issue of biases in AI by keeping humans in the loop.
Instahyre is an AI-powered HR tech platform that uses technology to help recruiters hire top talent effortlessly. Aditya Rajgarhia, founder and chief executive of Instahyre, believes using AI for recruitment could lead to biases, especially if the data sets used to train the AI are not diverse or representative enough. "This can result in unfair or discriminatory hiring practices, which can negatively impact the diversity and inclusivity of the workforce," he told AIM.
To tackle this issue, Instahyre is employing a blend of AI and human experts. "We have developed an AI-based platform that helps companies source, screen, and match job candidates to suitable job roles. At the same time, Instahyre takes human feedback from recruiters of the companies using our platform based on their usage to ensure that they are not biassed or discriminatory," Rajgarhia said.
In addition, the startup has also trained its AI models on a diverse range of data sets to minimise biases in the hiring process. "We regularly audit our platform to identify and address any potential biases that may have been introduced."
To help enterprises with recruitment services, Instahyre has developed InstaMatch, the proprietary technology that mimics a human recruiter and learns from the user's actions. It helps develop a hiring model for businesses using AI. The tool analyses the company's past and present employees and identifies the types of businesses and industries from which the company typically recruits.
"The corporate information is also used by our technology to create a customised email that is sent to candidates by this company's recruiters and highlights why they should think about working there.
"The AI algorithm unifies all hiring segments and provides recruiters with smart inputs to assist them to create a high-performance recruitment pipeline. The one solution automates the tedious hiring process and manages mass hiring for recruiters, including candidate sourcing, shortlisting, and scheduling interviews," Rajgarhia said.
Further, it carefully evaluates candidates through deliberate screening and assessment, shortlisting, and scheduling of interviews, followed by the offer rollout for chosen individuals. Instahyre also helps in recruitment with other tools such as Instahyre Talent Insights, which provides a global picture of the talent pool for each post.
A company spends a significant amount of time and money in hiring the right candidates, if done traditionally. Instahyre claims to have reduced the companies' time to hire by 60-70% and cost by 3x.
So far, Instahyre has helped more than 10,000 companies with their recruitment needs and has more than 40 million candidates on its platform. Some of the notable names include Amazon, Google, PayPal, Salesforce, Walmart, Oracle, Razorpay, Paytm, PhonePe, Salesforce, JP Morgan, Adobe, and Myntra.
The strengthening of AI ethics is critical in addressing biases that may arise from AI. By having ethical principles in place, organisations can ensure fairness, transparency, and accountability in their hiring practices when using AI. "Ultimately, organisations need to ensure that they use AI for hiring ethically. Additionally, it is important to ensure privacy concerns and obtain informed consent from candidates before collecting and using their data," Rajgarhia said.
In recent months, the launch of ChatGPT has pushed generative AI in the limelight. Today, organisations across industries are contemplating the use of LLMs for various purposes within their organisation. Rajgarhia said that generative AI and large language models have several potential use cases for Instahyre, from improving candidate communication to optimising job descriptions.
"However, it is important to consider the ethical implications of using these technologies and ensure they are used responsibly and with appropriate oversight," Rajgarhia concluded.
