In a revolutionary move to streamline the job search process, Naukri.com, one of India’s leading job platforms, has embraced the power of artificial intelligence (AI) to enhance the matching of applicants with both permanent and contractual positions. Jatin Thukral, the executive VP and head of Data Science at Naukri.com, shared that this AI journey began in 2011 with the development of a language model referred to as the taxonomy engine. Since then, Naukri.com’s AI initiatives have bloomed into one of the most impressive AI labs in the realm of domestic recruitment.
The growth of Naukri.com’s AI lab has been remarkable, expanding from 15-16 members in 2020 to now boasting over 80 scientists and ML engineers. Over the past three years alone, this talented team has created and implemented more than 500 machine learning, deep learning, and AI models across various products. With the primary objective of enhancing the hiring experience, Naukri.com continues to harness AI innovations with the aim of making the process more efficient and effective.
But how does Naukri.com’s AI-powered system actually work? The company handles an astounding number of job openings, with over 10 lakh new opportunities arising each month. Simultaneously, more than one crore job seekers actively utilize the platform to search for potential opportunities. Without the intervention of AI, job seekers would find themselves overwhelmed by extensive lists of job openings. Fortunately, Naukri.com’s AI technology steps in to tailor job recommendations, presenting only the most relevant possibilities to applicants. This feature streamlines and speeds up the application process significantly.
It is important to note that Naukri.com’s AI capabilities extend beyond job matching. The AI engines powering the platform analyze various aspects of the recruitment process, including skills, designations, profile summaries, company profiles, and educational backgrounds. Naukri.com’s AI-powered products, such as Resdex, have had a particularly profound impact on HR recruiters. Resdex’s AI comprehends over 50 lakh skill variants and more than 54 lakh designation variants. Furthermore, it personalizes the talent search experience based on the behaviors and preferences of recruiters.
Overall, Naukri.com’s adoption of AI technology has revolutionized the job search experience in India. By harnessing the power of AI to match job seekers with relevant openings and simplifying the recruitment process for HR recruiters, Naukri.com has significantly enhanced efficiency and effectiveness. As the AI lab at Naukri.com continues to grow and innovate, it promises even more advancements in the field of job search and recruitment.
Frequently Asked Questions
1. How has Naukri.com utilized artificial intelligence in the job search process?
Naukri.com has integrated artificial intelligence technology into its platform to efficiently match applicants with both permanent and contractual positions, streamlining the job search process.
2. How has Naukri.com’s AI lab grown over time?
From a modest team of 15-16 members in 2020, Naukri.com’s AI lab has expanded to include over 80 scientists and ML engineers dedicated to developing and deploying AI models across various products.
3. What is the primary objective of Naukri.com’s AI initiatives?
The main goal of Naukri.com’s AI initiatives is to enhance the hiring experience by utilizing AI innovations to make the process more efficient and effective.
4. How does Naukri.com’s AI-powered system simplify the job application process?
Naukri.com’s AI technology tailors job recommendations to applicants, presenting only the most relevant opportunities. This significantly simplifies and expedites the job application process.
5. What aspects of the recruitment process does Naukri.com’s AI analyze?
Naukri.com’s AI engines analyze a range of factors including skills, designations, profile summaries, company profiles, and educational backgrounds to facilitate effective job matching.
Sources:
– Naukri.com (URL: https://www.naukri.com/)
In addition to the information provided in the article, here is some additional information about the industry, market forecasts, and issues related to the industry or product.
The online job search industry in India has experienced significant growth in recent years. As more job seekers turn to digital platforms to find employment opportunities, companies like Naukri.com have seen a surge in user numbers and job postings. According to a report by Statista, the Indian job portal market was valued at approximately $259 million in 2020 and is projected to reach $311 million by 2024. This growth is driven by increasing internet penetration, smartphone usage, and the need for better job matching solutions.
The adoption of artificial intelligence in the job search process is expected to have a profound impact on the industry. AI-powered platforms like Naukri.com have the potential to bring significant efficiency and accuracy to the job matching process. By analyzing vast amounts of data, AI algorithms can quickly filter and recommend the most relevant job opportunities to job seekers, saving them time and effort. This not only benefits job seekers but also increases the chances of finding the right fit for employers.
However, there are also challenges and concerns associated with the integration of AI in the job search industry. One of the main concerns is the potential for algorithmic bias. AI algorithms rely on historical data to make predictions and recommendations, which can introduce biases if the data is not diverse or representative. This bias can result in unfair treatment or exclusion of certain groups of job seekers. To address this, companies like Naukri.com are investing in diversity and inclusion initiatives and continuously refining their AI models to ensure fair and unbiased job matching.
Another challenge is the need for continuous innovation and improvement in AI models. As the job market evolves and new job roles emerge, AI algorithms need to adapt and stay up-to-date to effectively match job seekers with the latest opportunities. This requires ongoing research, development, and training of AI models, which can be resource-intensive. Companies in the industry need to invest in talent, infrastructure, and data to stay competitive and provide accurate job recommendations.
With the increasing demand for online job search platforms and the advancements in AI technology, the future of the industry looks promising. Companies like Naukri.com will continue to play a crucial role in connecting job seekers with employers, leveraging AI to provide personalized and efficient job matching solutions.
For more information about the Indian job market and Naukri.com, you can visit their official website: Naukri.com.
The source of the article is from the blog smartphonemagazine.nl