5th-anniversary fun, lots of funding and AI in recruitment
Edge Tech celebrated with a 5th Anniversary Special of The Edge of Transformation.
Edge Tech recently marked its 5th anniversary as a company, an exciting milestone. To commemorate the occasion, Co-Founders Harrison and Ollie, recorded a special episode reflecting on the top 5 lessons they have learned during Edge Tech’s first 5 years in business.
It was a great opportunity to look back on key takeaways that have shaped Edge Tech's journey so far.
You can enjoy the full episode below.
Here's to the next 5 years!
DRUID AI Reaches Growth Milestone with $30M Series B Led by TQ Ventures
This new $30 million funding will support DRUID's expansion in the U.S., which already accounts for 60% of its revenue. It will also facilitate the integration of generative AI
DRUID is emerging as a leader in supplying conversational business applications to global corporations. Its emphasis on driving tangible business results
You can read more about DRUID's latest funding round via the link below:
Jobseekers perceive AI as more prone to bias than humans
A recent survey from Harris Poll on behalf of the American Staffing Association revealed an intriguing insight - a significant number of employed job seekers believe AI recruiting tools
The survey found 43% of active job seekers felt this way, compared to just 29% of those not urgently seeking new roles. With 39% of current applicants having used AI tools to aid job searches, it's clear these technologies are rapidly entering the mainstream.
However, concerns persist about the potential for ingrained bias and discrimination in AI recruiting systems. As the EEOC draft strategy outlined, unfair practices could lead to unlawful discrimination against women, minorities, and disabled individuals.
As AI becomes more prevalent, it's crucial hiring managers increase transparency, use unbiased tools, and work closely with policymakers to reduce inherent biases. Ensuring AI doesn't perpetuate discrimination will be vital for broad adoption.
Did somebody say sports day?
The Edge Tech team saw the summer out with the Silverstone Innovation Centres’ annual sports day, joining forces with the S-SA team, and the group came a respectable second place (although the team would disagree and really wanted that first place).
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KYP.ai Reaches New Milestone With $17.5M Series A Funding Led By OTB Ventures
This new capital will support KYP.ai's expanded operations in the US and growth in Europe, India, Singapore, and China. It will also further the development of the company's innovative GenAI feature for AI-powered opportunity and cost savings identification.
The future workplace will be shaped by organisations leveraging technologies like AI to complement human strengths. It's encouraging to see pioneers such as KYP.ai continue advancing boundaries and establishing best practices in intelligent automation.
You can learn more about KYP.ai's Series A funding round via the link below:
UK Hiring Slowed in August as Caution Grows Over Economic Prospects
The latest JobsOutlook report from the Recruitment & Employment Confederation (REC) shows hiring activity in the UK weakened in August amid growing caution over the country's economic prospects.
Permanent staff appointments expanded at the slowest pace since February 2021, while temporary billings for recruiters fell for the first time in 19 months. Survey respondents highlighted that candidate shortages eased slightly, but wage growth pressures
REC Chief Executive, Neil Carberry, explained this data indicates employers are taking a more cautious approach to hiring as concerns grow over rising costs and weakening demand.
With inflation at its highest level in 40 years, Carberry said the UK's economic outlook remains highly uncertain. However, he noted demand is still significantly above pre-pandemic levels in most sectors, just moderating from unsustainably high levels earlier this year.
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