In recent years, machine learning (ML) has become a key focus for all enterprises, right from mainstream platform providers to startups in their early days. With most mainstream providers competing amongst each other to make ML accessible to developers, the number of tools available to work with ML have effectively doubled. The momentum of ML will undoubtedly continue going forward into the coming years, as most industries working with large amounts of data have recognized the value of machine learning technology. ML-powered artificial intelligence (AI) systems in IT operations and DevOps will deliver more intelligence to organizations—enabling teams to perform root cause analysis accurately and precisely. Moreover, ML can also augment intrusion detection to enhance security around IT infrastructure—the potential uses of ML are virtually endless. With the ability to transform business processes and workflows, the heavy investment being made in this sector will guarantee ROI in the foreseeable future. With so much emphasis being put on machine learning, it is now the need of the hour for guidance for the successful implementation of ML solutions and services. This edition of CIO Applications brings you the “Top 25 Machine Learning Companies 2018.” This list features some of the most prominent organizations in the industry that have excelled in their services and product portfolio in the machine learning space. This list is aimed at bridging the gap between businesses and solution providers that are transforming business processes through their insights and technological prowess.
Most companies supporting a product or service find themselves staffing frontline and back office employees to address on-going customer needs. Unfortunately finding and keeping individuals qualified and capable for these plentiful roles has become one of businesses’ greatest challenges. HireIQ takes on this high volume hiring challenge through their artificial intelligence (AI) and machine learning (ML) enabled SaaS recruitment platform. HireIQ’s virtual interviewing and predictive performance solution speeds up hiring by identifying candidates that will stay longer and exceed performance expectations for these high volume roles.
HireIQ Solutions – Driving Better Hiring Decisions
To begin with, HireIQ’s ML-based ‘Audiolytics’—a patent-pending, predictive performance innovation— simplifies the painstaking process of interviewing, evaluating and selecting the right talent. When hiring for the best, it turns out that voice matters. This is precisely why Audiolytics was born from the extraction of thousands and thousands of voice features in candidate voice response made available through emotion and affect classification tools. “Based on voice analysis of these features extracted from candidate voice responses, Audiolytics determines a clear recommendation of candidate’s fit for specific roles within an organization,” explains Paul Noone, CEO of HireIQ. Models using ML techniques take the voice features as input and provide insights into how a given candidate will perform in each role. This data collection during the interview process and subsequent processing allows HireIQ to zero in on the signals that indicate success within candidates. The parsing of audio features and analysis at large scale, which is beyond the capabilities of any individual, is all completed in what seems like an instant. As soon as a candidate completes an interview, HireIQ provides a picture of skills essential to the role and a recommendation based on the emotional makeup of the individual. HireIQ also utilizes an ML approach in their LanguageIQ tool, which determines whether an individual possesses the language proficiency required to process audio requests and respond appropriately. It gives organizations an understanding of a candidate’s ability to follow directions, listen and respond, and demonstrate critical thinking skills necessary in most high volume roles.
HireIQ has worked with Fortune 500 companies and the world’s largest Business Process Outsourcers (BPOs) to quantify both efficiency and performance results associated with their solution. One such client needed to fill thousands of positions in less than a month and had sourced over 20,000 applicants for their open positions. Using HireIQ, the customer could sort the candidates meeting minimum thresholds in skills and predicted performance. This enabled the customer to reduce their entire interview process time (application to candidate disposition) from 9 days to 3 days (a 67 percent improvement), convert 75 percent of their applicants from application to completed interview (30 percent more than their standard process) and increase the daily productivity of their recruiters to 200 candidates per day. The average recruiter review time for the candidates in this effort was less than 4 minutes because of the clarity of the data presented through HireIQ. Having 45 percent of the interviews completed after normal business hours, meant that they were reaching employed candidates through extending the interview through non-business hours. The outcome data from the hired agents demonstrates their ability to exceed expectations in first call resolutions, transfer rates and even training graduation rates.
Riding this wave of success, HireIQ will continue to leverage AI and ML to improve the recruitment process and ensure quality hires in the workplace. “In the future, we will gather even more data to refine our current ML approach and drive the innovation of new services for our customers,” adds Noone. “We are actively working with large organizations that will help us with the distribution of our solution in meaningful ways around the world.
About HireIQ Solutions, Inc.
HireIQ revolutionizes talent acquisition for front-line customer service positions such as those in contact centers, retail stores, branch banking, quick-service restaurants, and hospitality by automating the early-stage screening process, automatically assessing for critical communication skills, and using outcomes-based data to facilitate continuous performance validation.
HireIQ’s solutions enable companies to improve their hiring decisions, reduce time-to-fill, reduce recruiting costs, and increase talent performance and retention through its on-line virtual interviewing software, novel predictive analytics solutions, and structured feedback between recruiting and its stakeholders. HireIQ is a privately held company based in Atlanta, GA. For further information, please visitwww.hireiqinc.com. Follow us on Twitter @HireIQInc.
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