Organisations, irrespective of their size, function or industry, have either implemented or are exploring AI in their businesses. Investments are flowing into AI startups, and India is experiencing tremendous interest and demand around AI and machine learning.
In today’s HR industry, the recruiters are juggling tons of resumes, complicated hiring routines and time-consuming processes. On the other hand, job-seekers are subjected to lengthy hiring procedures. Enter Vasitum, an AI-powered career platform to bridge the gap between the recruiters and the candidates.
For this week’s startup column, Analytics India Magazine spoke to Vikram Wadhawan, Founder & CEO of Vasitum to understand how the startup is leveraging AI and machine learning to help companies find the right candidates.
Founded in 2019 by Vikram Wadhawan and Ankit Kashyap, Noida-based Vasitum enables automated resume screening, shortlisting of candidates and automatic Interview scheduling. For recruiters, a tailored screening process is applicable, while capitalising on existing resume banks.
Vasitum is a full-stack recruitment automation platform to automate various HR functions such as sourcing, screening, assessment, interview scheduling, background check & documentation.
Through Vasitum, a recruiter will be able to use Vasi, the AI assistant to perform sourcing, screening, assessment, interview scheduling, background checks and documents collection to make their workflow efficient & smarter.
In the next few weeks, the company will roll out a new feature: Stack Ranking of candidates based on their experience and skills to match the job, along with automated assessments.
What’s The Differentiator?
“Besides various HR Management Systems to help recruiters, recruiters jump across multiple platforms like a job-board to assessment engine to background agency etc. to close out a vacancy. On the flip side, candidates are barely aware of their application status. For the ones who do get shortlisted, they face back and forth while getting their interview scheduled. That’s when Vasitum comes into the picture,” said Wadhawan. He added, “For the employers, we are automating the recruitment process end to end. For Candidates, we are ensuring transparency and great experiences.”
Use of AI & ML @ Vasitum
According to Wadhawan, Vasitum leverages AI from the top of the hiring funnel through to the moment of hire. From the start of the process, the AI-based chatbot – Vasi sources ideal profiles for the job, stack ranks, and pre-screens them for the role. He said there are many other smart features in development that would make the hiring process a lot more efficient and save tons of time. The company predominantly works on Python and natural language processing (NLP) in terms of technology and framework.
On his concluding note, Wadhawan said, “Our product roadmap is full of additions for next 24 months, we have new features and modules planned for both B2B and B2C audience for next 24 months, which will help improve overall experience and efficiency.”
He added, “five years is a very big time for an early-stage startup and therefore planning for five years may be a futile exercise. We do have plans for the next 12 months, and that includes monetisation in India in three to six months and a soft launch in South East Asia in 9 to 12 months. We are part of the 500 Startups Global Launch Program for SEA, and it’s a great platform for us to launch in SEA.”