Redefining Talent Acquisition: How AI And Automation Is Closing The Unemployment Gap

Isabelle Bichler
Reading Time: 2 minutes

As we navigate new and evolving employee requirements for work, now more than ever, an organization’s ability to adapt to the ever-changing tides rapidly is a strong indicator as to whether they will sink or swim. For years the writing has been on the wall in human resource and hiring practices. But not much has been done to improve the situation.

Thankfully, in a bitter-sweet twist of events, the Covid-19 pandemic has propelled us into the future of talent acquisition. At the onset of the pandemic, companies made the necessary shift to remote work and automation. What started as a temporary fix has catapulted us into a new wave of technology-driven automation, disrupting the system that was stagnant for far too long.

This new paradigm shift has taught us all that there is a marked miss-match in the hiring process. We see it every day. Companies bemoaning lack of talent, so they either stick with under skilled staff or spend hours and copious amounts of money attempting to hire new talent. Moreover, with people walking off jobs by the millions, yet others are complaining they can’t find employment, it is apparent there is a severe skills gap plaguing the workforce.

But how is this combatted? The answer is simple – by technology. When most people see that answer, they eventually think of their positions being replaced by cutting-edge automated systems or robots. But what companies like retrain.ai are pioneering is leveraging this same technology to help companies find their suitable match in prospective clients or look internally to upskill their current cohort.

Co-founder, Chairman, and CEO of retrain.ai Shay David posits enthusiastically, “We’re building what I believe is going to be a very meaningful platform aimed at solving the skills gap…It’s all about putting technology to good use and letting machines do the hard work so humans can fulfill their full potential.”

Shay elaborates how the most significant contribution of technology, such as retrain.ai, is its ability to reimagine job titles, positions, and descriptions. The retrain.ai team has recognized the growing trend in human resources in moving away from job title and description into a skills-based approach. No more is hiring based solely on fitting a neatly coined title or how many degrees you boast. Instead, hiring teams everywhere aided by retrain.ai have shifted focus to highly skilled individuals who are willing to climb the ladder and gain more skills.

This is the pathway companies everywhere are taking to achieve lower attrition rates and capitalize on their greatest resource – an expert team. “This is where the AI comes in. What we’ve developed is a system with an understanding of any language. It could read job descriptions, CVs, LinkedIn profiles, and ads. We’ve trained the AI models on language from the labor market so it can start creating those matches and start helping the organizations understand their own needs and how they solve the skills gap,” remarks Shay.

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