A recruitment platform powered by artificial intelligence (AI) has doubled its footprint of ASX100 customers since raising $17 million in November 2022, with its founder noting rapid adoption of new technologies in corporate Australia.
Melbourne-based Sapia.ai reports 10 per cent of ASX100 companies are now using its Smart Interviewer platform to transform their talent screening processes, with a conversational natural language processing (NLP) AI chatbot that interviews, assesses and screens for the best talent at scale.
"We had significant interest in Sapia.ai from ASX100 companies within the past year," says founder and CEO Barb Hyman.
"In November 2022, 5 per cent of the ASX100 were using Sapia.ai. That doubled to 10 per cent within a year. In 2024, we expect the trend to continue, as we’re talking with a number of private equity firms that interact with ASX100 brands that see value in our tool to drive performance across their portfolio.
"The additional companies that we can confirm are using our tool include: Medibank (ASX: MPL), Suncorp (ASX: SUN), SparkNZ (ASX: SPK), and Kmart and Target, who are a part of the Wesfarmers (ASX: WES) portfolio."
Other Australian customers include Woolworths Group (ASX: WOW) and Qantas (ASX: QAN).
Hyman says while Australian companies may not be as vocal in their adoption of AI technology, they are 'undoubtedly embracing it at a rapid pace', integrating cutting-edge tools like to stay ahead in the global market.
"Not only are Australian firms using AI, but we’re developing world-leading applications too. We’re just one example. Globally, there’s a candidate using our platform every twenty seconds to interview for a role," she says.
Hyman adds that Sapia.ai also aims to improve diversity outcomes by eliminating unconscious bias in candidate screening.
"This year will be an inflection point for AI adoption in Australia. Yes, we’re hearing companies talk about AI, but this year we will start to see it in effect as more tools and applications roll out," she says.
"The biggest challenge companies face in this transition is building trust among their stakeholders, customers and employees for these new tools. They need to love it, or they simply won’t use it."
The founder adds that the US expansion flagged in the 2022 capital raise is progressing.
"We're working closely with our current partners over there to bolster our work in that market this year. One of our recent wins in that market is airline Lynx Air, using our technology to scale their team," she says.
"Where we are seeing the most success in that market is with companies that experience high turnover of staff. Sapia.ai has helped them find team members who are a better fit for the company and therefore are retained for longer."
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