Anna Rapp, Co-Founder and CEO
Amidst all the hype over AI, there is also a lot of disquieting buzz about the negative consequences of AI and machine learning (ML). According to the doomsayers, it’s just a matter of time before the rapid advancement of smarter machines will take up the current job roles, leaving today’s workers obsolete. However, both historical data and ongoing studies suggest that these concerns are overblown; we are neither headed toward a dystopia where people are out of work nor a rise of the machine world. The advancements in AI and ML, on the contrary, can help us in unlocking the true human potential. And for businesses, this can mean – becoming more efficient by making the employees more productive with AI and ML-based solutions.
“When we talk about AI and ML helping businesses do more with less, we don’t necessarily mean replacing a company’s employees with technology,” opines Anna Rapp, a thought leader in the AI industry and the CEO of Layke Analytics.
Rather, it translates to augmenting existing employees with the latest AI and ML-based solutions to free up their time and increase overall productivity. Interestingly, this is precisely what Anna’s company, Layke Analytics, brings to bear for the HR industry as well. Operating as a forward-thinking HR tech company, Layke equips HR professionals with intelligent candidate screening and sourcing solutions to manage their mundane, repetitive, and time-consuming works so that they can focus on more important tasks at hand. “Our approach to workplace automation is a testament to what people can achieve in conjunction with smart machines,” says Anna.
To this extent, Layke offers a simple API solution for intelligent candidate screening and sourcing, which can be seamlessly integrated with clients’ existing recruitment software. Once set up, the solution’s proprietary algorithm can extract and analyse a candidate’s precise information from the resumes and organise them in a structured format. Moreover, the solution assigns a defined value for each profile based on the collated information. This assigned value is then measured to match and deliver the shortlisted candidate profiles to the HR personnel. With this automated process, HR executives can save up to 50 percent of their time and focus on other core HR aspects.
Layke’s smart API solution, adjacently, helps HR professionals craft an excellent candidate experience. Having been trained on a large and wide dataset, the screening solution can mine the necessary data such as work experiences, core competencies, and academic qualification from the resume alone.
Our approach to workplace automation is a testament to what people can achieve in conjunction with smart machines
The HR professionals thus no longer require candidates to prepare a lengthy job application. The deep learning algorithm of the solution matches the candidate data with a particular job profile. “Our approach from the start is to optimise the hiring procedure that is already in place. We scale down the process, remove a lot of unnecessary steps, and make use of what already exists. In short, we deliver more by asking less,” underscores Anna.
But what makes this intelligent system tick so efficiently? It is, after all, the close collaboration between Layke’s team of technical and HR experts, who are equally passionate about improving the recruitment process with AI and ML technology. “Because in the end, it’s the human that runs a machine, and not the opposite,” quips Anna. Due to the Layke team’s subject matter expertise, the company’s algorithm continuously learns to tackle newer situations and become a trusted aid for the HR professionals.
Riding the coattails of such a nimble recruitment solution, many of Layke’s clients have shown exceptional outcomes. In one scenario, Layke assisted a company in hiring for a job role that had received hundreds of resumes. In order to test the efficiency of the AI-based screening solution, the client employed one of its HR personnel to manually vet the resumes at the first instance. Quite fascinatingly, both HR personnel and the AI-based solution read through all the resumes and picked the same top five relevant profiles. The only difference was: the AI-based solution did it in few seconds, showing its ability to read, interpret, and analyse documents as a human, but faster. “Because of this, the client started trusting our algorithm to free up their HR personnel’s time, and ever since they have been very pleased with the outcome they have received,” extols Anna.
Such proven successes have made Layke a real catalyst for change in the Swedish recruitment space particularly. Moving forward, the company is focusing on global expansion by building trusted relationships with other HR tech mavens. “Global expansion is and will always be a critical part of our growth strategy because we developing such a scalable product,” avers Anna. To make that happen, Layke is now looking at strategically strengthening its team in Europe and the U.S. to serve more clients across the globe. “And through these, we want to amplify the output humans can create together with the machine. We are now poised to educate the market and introduce these new solutions properly, challenging the misconceptions around workplace automation,” concludes Anna.