Problem: Talent shortage is a present danger, costing UK organisations £6.3B/year. 91% of firms still struggle to find tech workers with the right skills. Companies need a new diverse talent pool. They must be armed with a top-notch talent pipeline and potential future workforce, by attracting and sourcing passive candidates (70% of the global workforce).
Solution: Through a powerful amalgamation of artificial intelligence, image processing and web extraction, MeVitae is proposing an innovative anonymised talent-sourcing engine that helps organisations to identify top diverse talent. Employers can review online candidate profiles without personally identifiable information (from name to ethnicity) to correct unconscious biases.
Benefits: This will enable greater diversity in the workforce with substantial benefits to society and the economy (billions in uplift) for multiple characteristics
92,390
2015-10-01 to 2016-09-30
Feasibility Studies
Problem: The global recruitment industry is worth £269.35 billion in 2015, and shows the highest degree of fragmentation due to the many global talent challenges. The CEO of Zapoos believed to have lost $100m due to bad hiring decisions. In fact, Harvard Business Review states that as much as 80% of employee turnover is due to poor hiring decisions. MeVitae is focused on meeting the needs of employers to improve quality of hire, time-to-hire, and cost-to-hire. Solution: MeVitae uses a powerful amalgamation of Big Data, artificial intelligence and pattern recognition to shortlist the most suitable candidates for a job in seconds, and learns from company’s hiring behaviours to future intelligent decision-making. Innovation: MeVitae is the first-ever cognitive recruiting platform to use space technology and neuroscience focused on saving businesses, globally, millions of pounds as a result of bad hiring. Feasibility Study: MeVitae aims to design the optimised user interface specification and hiring algorithm (pseudo-code). Benefits: Significantly reduces employment figures and enhance sustainable employment within the economy