In the Past 3 Years, AI and Big Data-Based Startups Surge, with 4 Times Higher Acceptance Rates in the Job Market
[Asia Economy Reporter Kim Jong-hwa] #Brand marketer Choi Mo (31) greatly benefited from big data and artificial intelligence (AI) technology when changing jobs last month. Choi, who was losing confidence after repeatedly failing document screening, completed his resume by referring to the big data-based 'pass/fail word guide' provided by the recruitment platform. Afterwards, he was able to check the acceptance rate for each company through AI matching and apply to companies that suited him perfectly. Thanks to this, he succeeded in changing jobs in the same field with much better salary and treatment conditions. Choi said, "Thanks to AI, the job change was smooth," adding, "I am working more happily, looking forward to the 500,000 won reward paid three months after the successful job change."
As in Choi’s case, big data and AI are being utilized in various aspects of daily life. Since COVID-19, as non-face-to-face culture centered on digital has become commonplace, AI technology is rapidly permeating everyday life. According to the Ministry of SMEs and Startups’ analysis of 'internal changes in the startup ecosystem,' AI and big data-related startups, which accounted for only 1.6% between 2013 and 2016, increased about 5.5 times to 8.8% between 2017 and 2020.
Not only startups supplying specialized AI and big data services but also startups combining related fields are rapidly increasing their share. They serve as effective means to match job seekers and companies in the recruitment market, and AI assistants supporting video conferences have also appeared. Moreover, AI has been introduced into kiosks, making it easier for information-vulnerable groups to use them.
WantedLab Guarantees 4 Times Higher Document Screening Pass Rate with AI Deep Learning
AI is also shining in the recruitment market. Especially with the surge in job changes among young people, AI deep learning technology that can increase the chances of acceptance is gaining attention. WantedLab’s AI-based recruitment platform 'Wanted' developed AI that helps job seekers change jobs by analyzing actual acceptance data for the first time among domestic recruitment platforms in 2017. Since then, AI has learned millions of data including job seekers’ resumes and skills, and companies’ desired tasks and qualifications, recommending companies to apply to based on document screening pass rate data. The core of Wanted’s AI recruitment matching is that it increases the document screening pass rate by more than four times compared to general applications.
Wanted AI’s high prediction accuracy is thanks to the vast data accumulated since the early days of the service and a differentiated deep learning model. WantedLab designed its deep learning model to have high accuracy by directly comparing it with other models. In addition, the document screening pass rate prediction algorithm was lightweighted to enable real-time fast prediction for any job posting. Model lightweighting allows real-time large-scale computation, enabling hundreds of predictions at once even during high traffic.
In addition, Wanted provides a pass/fail word guide to users who have difficulty writing resumes through big data analysis. WantedLab analyzed 100,000 resumes for four job categories?business, marketing, design, and development?to prepare the pass/fail word guide.
WantedLab successfully listed on the KOSDAQ market on the 11th of last month through a growth-specialized listing. Shinhan Financial Investment forecasted on the 7th that WantedLab, a KOSDAQ-listed company, would be the biggest beneficiary of the paradigm shift in the recruitment market. Both the expansion of existing platforms and new businesses are expected to lead to substantial sales growth.
A WantedLab official said, "With the increase in non-face-to-face recruitment due to COVID-19, Wanted AI is learning even more vast data," adding, "Based on the unique data accumulated over more than six years, we will continue to refine the AI engine to provide users with the optimal information they need."
AI Assistant 'ARU' Supports Video Conference Presentation Rehearsal Function
Software (SW) company RSUPPORT, which provides remote video conferencing solutions, updated the AI assistant 'ARU' of its remote video conferencing solution 'RemoteMeeting' to offer new features such as presentation rehearsal support and virtual experience of video conferences.
The virtual experience of RemoteMeeting video conferences using ARU is conducted in a live demo format where the user acts as the meeting host and leads the session. Users can conduct interactive video conferences with virtual colleagues including ARU. ARU helps users utilize various functions of RemoteMeeting.
Users can invite real acquaintances to experience together, and rehearse important reports or presentations in front of virtual colleagues via video conference. New users of RemoteMeeting can also experience features such as 'Moderator Mode' and test new functions.
Conversational AI Kiosk Enables Convenient Use for Information-Vulnerable Groups
An 'AI kiosk' that implements the role of an actual counselor has also appeared. AI company DeepBrain AI (formerly MoneyBrain) launched a 'conversational AI kiosk' that integrates voice synthesis, video synthesis, natural language processing, and voice recognition.
This model uses advanced deep learning-based video synthesis technology that trains on voice and video data of real models to provide counseling and guidance as if conversing with a human. In March, DeepBrain AI supplied kiosk-type AI counselors to KB Kookmin Bank’s AI Experience Zone, which combines financial services with AI technology, marking the first in the financial sector.
They also introduced the 'SpeakNow' service, which allows users to converse with AI in English. SpeakNow is a tablet-based AI English education service available for users from age 3 to adults. Learners engage in situational English conversations with AI. It provides step-by-step curricula based on learners’ skill analysis and applies AI video and voice synthesis technology.
Recently, DeepBrain AI successfully attracted 50 billion won in Series B investment from KDB Industrial Bank, IMM Investment, Nvestor, and No & Partners, fueled by expectations of differentiated AI technology with high growth potential and significant returns from an upcoming initial public offering (IPO).
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