India, 26th September 2023 Kognoz, India’s leading technology-driven people consulting company, elevates talent acquisition by announcing the launch of Konverz.ai, a groundbreaking AI-driven hiring solution that is set to redefine the talent acquisition landscape. This revolutionary product marks a paradigm shift in the hiring process by enabling organizations to conduct interviews without human intervention, harnessing advanced AI technology to assess the personality traits, cognitive abilities, motivations, and emotions of interviewees, all benchmarked against industry standards.
Commenting on the launch, Mr. Lokesh Nigam, Co-founder and director, Kognoz, said, “The launch of Konverz.ai marks a significant milestone in the world of talent acquisition. By combining the power of AI with behavioural science, we are addressing long-standing challenges in the hiring process. Several challenges prompted the launch of Konverz.ai, including high costs per hire, excessive attrition rates, extended time to productivity, skills mismatch, evolving job roles, prolonged recruitment processes, and limited assessment solutions. I firmly believe that our product Konverz.ai will be a game changer in the industry and will successfully elevate the overall hiring experience”.
The talent acquisition landscape faces multiple challenges from shrinking talent pools, heightened competition, skill mismatches due to evolving roles, and lengthy recruitment processes. Hence, Konverz.ai’s launch addresses these challenges with AI-driven solutions, streamlining talent acquisition and empowering informed decisions in a rapidly evolving industry. This innovative approach eliminates the limitations of traditional hiring methods, addressing several constraints faced by the industry.
Distinguishing itself from existing market offerings, Konverz.ai diverges from resume-centric screening. By integrating profound behavioural science, advanced machine learning models, and large language model (LLM) and natural language processing (NLP) technologies, the system extracts contextual insights from AI driven interviews. This enables quantitatively assessing candidates’ behavioural traits and aligning them with job requisites—both against level and nature of work.
The results have been impressive, with a 45% reduction in the time taken to hire someone. Testing the system with over 3500+ candidates and companies in India, demonstrates the value of AI-driven conversational intelligence in streamlining the hiring process.
Konverz.ai plans to roll out initial adoption in India and the APAC regions. The company is actively developing AI-driven technical and functional assessments to further enhance its offerings, marking the next phase of its journey. Konverz.ai is poised to redefine hiring, making it more efficient, cost-effective, and data driven.