14-15 October 2018 the capital of Ukraine hosted a lot of interesting people from 28 countries which had arrived in our country to participate at the Horasis China Meeting 2018. The NaomiHire CEO Andrey Zupko had been invited to be a panelist on the section dedicated to explore how digital identities and AI/ML frameworks give Chinese firms a starting advantage.
Employees/candidates personal information is a critical part of digital identities and Andrey presented HR world on that Horasis panel.
Many global and important questions have been discussed like “Who controls our data? Do we really have a choice when we share our data with Google/Facebook/Apple…? Who benefits from our data? What is the real quantitative value of digital identities? How AI/ML/Blockchain may help to answer those question and many others?
Here are a few most interesting statements from the panel discussion:
- Artificial Intelligence is a part of the future but the future without people is a miracle. AI must help people and do their life easier. The key point of collaboration between any two parties is a trust. It is true even for communication between people and AI. There is a MIT report named “The dark secret at the heart of AI” where the author explained that no one really knows how the most advanced algorithms of AI do what they do. So if we don’t understand AI how can we trust its decisions?
- Do you know that one bad hiring in average costs for a company more 22K USD and almost 80% of employee turnover is due to wrong hiring decisions? It means that only one-fifth hiring is successful. We know that average pre-seed round of investment is ~200K dollars. One bad hiring for that start-up “kills” more 10% of that money.
- Today people are the most valuable asset for many technology companies. We usually call it intellectual capital. But here is the problem – only a few companies know what is the quantitative value of that asset.
- From an employer perspective, every individual is a set of his hard and soft skills, education and professional background. But when it comes to an assessment most of the criteria are subjective and therefore a quality of such assessment always depends on the human factor and it doesn’t provide any quantitative measurement. As a result, the company doesn’t know what is the ideal employee profile and how to hire the most appropriate candidate.
It all explains why NaomiHire team spent years to build AI engine which can explain why one candidate is more relevant to a particular vacancy then another one and help companies to make better hiring decisions.
This week NaomiHire team have been welcomed to speak at the 2019 Horasis China Meeting, Las Vegas, USA. The meeting is co-hosted by the U.S. Chamber of Commerce and the China Federation of Industrial Economics where more than 400 participants from business and government will join an intensive two-day program.
In case you will be there let’s meet our team!