If you’re still wondering about the role that AI will play as recruiting technology evolves, there are about 40 million new reasons to believe it will continue to heavily influence the future. Paradox, a conversational AI platform, announced yesterday that it received $40 million in new funding. The company, whose clients include McDonald’s, CVS, Unilever, and other large organizations, plans to “leverage the funding to expedite its vision of a future where AI is a liberating force to help people do their best work,” according to the company’s press release.
As Paradox’s founder and CEO Aaron Matos explains, “No one goes into recruiting or HR because they like screening resumes, scheduling interviews, or managing paperwork.” Hence, the company is looking to advance efforts around using its AI assistant, Olivia, to relieve common administrative burdens.
Indeed, Olivia automates a host of tasks by creating conversational experiences online, as well as via texting and other messaging apps (WhatsApp, Facebook Messenger, etc.). “I love the idea of using Olivia for answering general questions from candidates and scheduling interviews, both of which could be helpful to both the candidate and the recruiter,” remarks Mary Faulkner, ERE’s strategy and leadership columnist and senior advisor with IA, a boutique consulting firm focused on HR transformation.
“Paradox manages to avoid the trap that most AI startups find themselves in,” adds Steve Smith, a partner and chief marketing officer at The Starr Conspiracy, a marketing agency whose clients are primarily workplace tech companies. “Too often, conversational AI and bots make brands feel more impersonal and mechanical. Paradox has succeeded because they use AI to bring more humanity into recruiting and common HR tasks and communication.”
Perhaps the real story here is not that Paradox received a huge amount of funding from investment firm Brighton Park Capital. It’s that it received the cash right now as the economy plunges downward to an evermore ominous nadir.
“Paradox is fundamentally aligned with where the world is going,” says Mike Gregoire in the press statement. A partner at Brighton, Gregoire, who will also serve as chairman at Paradox (and who is also former Taleo and CA Technologies CEO), says that “the company is seeing increased adoption as digital transformation becomes more critical to organizational resiliency and long-term success.” Continue reading here…