How is AI transforming the world of recruitment?

The growing imbalance between the demand for and supply of labour has been a puzzle for economic observers and policymakers in recent years.

“Despite large job market disruptions from the pandemic, labour demand outstripped available supply early in the recovery in advanced economies and key sectors,” according to Bossjob, a recruitment platform in the Philippines, Singapore, and Indonesia.

“The imbalances between labour-rich countries and those with shrinking labour forces have led employers to pay more emphasis on the effectiveness of recruitment platforms, especially the cross-border talent resources and talent-matching capabilities.” 

Nine in 10 (92%) of Singaporean workers are keen to work for global employers, far outpacing the global average of 80%, according to a previous report.

With the current trend, utilizing online job boards powered by artificial intelligence (AI) can be an advantage for employers, says Bossjob, such as its platform TensorFlow, which sifts through profiles to find matches for job openings.

“The employers can just input specific keywords for the position that they are hiring for. So, for example, if they're looking for sales manager, they can just input ‘sales manager’ as their keyword and then we'll be able to help them create the job description, and then all they have to do is just a bit of like polishing on their side, depending on the culture and on specific demands on their side,” says Kimberly Chen, country manager in the Philippines at Bossjob.

The other part is the AI skills matching or “smart matching,” she says.

“We would analyze the resumes and the applications to identify the best candidates to reduce the manual effort and minimize the bias for the employers or for the companies.”

Machine learning tools

Recently, Bossjob was admitted to the NVIDIA Inception Program, which is designed to accelerate the growth of startups by providing them with technical tools, latest resources and opportunities to connect with venture capitalists and investors. The program boasts a network of over 19,000 technology startups worldwide.

Under the program, Bossjob is developing an in-house recommendation model using various Machine Learning (ML) tools with the help of NVIDIA’s advanced technologies.

“Bossjob’s participation in the NVIDIA Inception Program reflects our commitment to revolutionizing the job-matching process through AI innovation,” says Bossjob co-founder and Chief Operating Officer Quak Kiat How.

“In the era of Machine Learning and Large Language Models, Bossjob is privileged to build its own model on the shoulders of NVIDIA, constructing a new-generation talent matching engine. The H100 provides substantial support, and after two beta version tests, it will soon be deployed in Bossjob’s production environment,” Quak said.

Looking into the next five years, there will be a greater deal of automation within the recruitment and talent acquisition process, Sekhar Garisa, CEO of foundit, previously told HRD Asia.