Boost recruitment, sales & marketing with AI’s new tools for business

On an average recruiters spend 31 per cent of their time screening candidates which could be better utilised elsewhere Delays caused by unexpected leave public holidays and new recruit training can exacerbate this time lossrdquo shares Hitul Mistry founder of Digiqt Techhnolabs The 32yearoldrsquos recentlylaunched AI tool introduces what they call a candidate scoring systemMistryrsquos recent venture uses AI to recruit employeesMistry explains ldquoUnlike humans AI can screen candidates 247 without bias towards attributes like university or location focusing solely on qualifications and skills listed in job descriptions Our innovative solution features a webbased interface where HR can effortlessly upload job descriptions and candidate curriculum vitae CVs in pdf or doc formats Once uploaded the system generates a score out of 100 for each candidate streamlining the screening process Under the hood a sophisticated CV data extraction nlp algorithm transforms unstructured CV data into a structured format storing it in a vectordocument database The structured data is then matched against job descriptionsrdquoThe AI scores each candidate based on job requirements responsibilities and qualificationsThis he says reduces unconscious bias and ensures consistent screening AI can also scale efficiently to handle large volumes of CVs as seen during increased attrition rates in the COVID19 pandemic maintaining performance without delays ldquoSuch delays often up to 10 days can lead to a 10 per cent loss of ideal candidates who accept other job offers With AI priority screening and consistent turnaround times eliminate backlogs resulting in a quicker and more efficient screening processrdquoThe turning pointThe chat bot acts as 247 sales assistant that can solve the agentsrsquo doubts throughout the dayThe Ahmadabadborn software engineer currently works out of an office in BKC with his sales team and IT engineers Passionate about solving business problems through technology he discovered a gap at his initial jobs at an insurance broking firm ldquoI managed terabytes of data and provided various teams with crucial business reports and insights One day during a conversation with the business team of the firm I discovered that they often had more leads than the call centre could handle resulting in prioritising the wrong leads This issue significantly impacted their conversion rates On noticing this challenge I began learning about AI and implemented a Proof of Concept POC on a small subset of leads This solution dramatically improved the call centrersquos productivity Since then I have delved deeper into AI driven by the desire to harness its potential to solve complex business problemsPersonalised AI videos help improve insurance pitches as per the customerrsquos requirementsOther projects by Digiqt Technolabs include a sales virtual assistant and an interactive AI video While the former he says supports field sales heads and provides 247 instant responses to agentsrsquo questions the latter is an interactive video solution that personalised content for each customer This too was inspired by a problem he faced personallyFocus on the solutionldquoUpon receiving an insurance quote from a life insurance agent I found it difficult to understand due to numerous hidden terms and conditions This challenge inspired me to create a personalised video that simplifies the information by eliminating unnecessary details and customising elements like voice interactions clicks and graphs The video allows viewers to click anywhere for more information and includes reallife scenarios that explain the importance of buying term insurance complete with personalised financial animations For instance it could illustrate the potential impact on a family if an insurance policy isnrsquot purchased in a timely mannerrdquo he explains This solution is also ideal for onboarding customers with AI assistance available directly in the browser while watching the video The video can include a form that the AI helps to fill out making the process seamless and userfriendly This technology can help fintech companies explain their products more effectively and assist customers in the onboarding process ultimately enhancing customer understanding and engagementIt customises elements like voice interactions clicks and graphs and presents reallife examples to help new customers understand the importance and the various parameters involved while getting insuredWhile the integration of AI into everyday life promises to revolutionise how we work live and interact he believes that it also demands careful consideration of ethical and security challenges Looking ahead Mistry is confident ldquoAI innovation is progressing at an incredibly rapid pace with new and improved models being introduced every month Continuously adapting to these advancements can be costly and timeconsuming Instead of focusing solely on setting a precedent for future technology we should prioritise how effectively we are solving business problems The true value lies in delivering comprehensive solutions that address these issues thoroughlyrdquoWhat is itThree AI tools help companies manage recruitment process appoint a chat bot as a 247 sales assistant and create personalised AI videos for a better understanding of insurance quotationsHow it worksThe recruitment tool scores candidates based on their CVs without bias Sales bot provides a 247 service and answerrsquos agentsrsquo questions The personalised AI video on the other end helps break down difficult jargon and terms and conditions in insurance quotations while presenting to the customer reallife examplesWho it affectsbenefitsThe aim is to help businesses tackle problems by effectively reducing time put into sales hiring and forming personalised insurance pitches for onboarding customers