Tech Talent Drop - Edition 17

Welcome to this week's edition of Tech Talent Drop! In a rapidly evolving tech landscape, staying updated on the latest hiring trends and AI tools is crucial for those in recruitment and talent management. Being in the know gives you the competitive edge needed to attract top talent and streamline your processes. Let's dive into this week's highlights.

The Drop

Amdocs, the Israeli software and services giant, announced a major restructuring this week, laying off hundreds of employees globally while forming a new GenAI & Data division. This move highlights a broader push toward integrating generative AI and data-driven technologies into core business operations.

Recruiters should anticipate a potential influx of seasoned professionals seeking roles aligned with AI and data strategy.

AI Tool of the Week

Checkr, a new AI-powered background check platform, is making waves by streamlining the hiring process. It automates the verification of candidate credentials, significantly reducing the time to hire. According to recent reports, Checkr’s AI-powered background check platform reduces processing time by up to 40% and automates 99% of the workflow post-data retrieval, boosting accuracy and compliance.

Use this tool to expedite candidate verification and enhance efficiency in recruitment processes.

Hiring/Interview Insight

Recent research from the Society for Human Resource Management (SHRM) indicates that 72% of companies are now prioritizing soft skills over technical skills during the hiring process. This trend is driven by the need for adaptable and collaborative work environments. Recruiters should integrate soft skill assessments into their hiring protocols to match current industry demands.

Funding Watch

• Cognition — AI code-generation startup — secured nearly $500 million in its latest round, doubling its valuation to $9.8 billion, led by Founders Fund

• Uma — Stealth-mode robotics startup led by a Hugging Face researcher — in talks to raise around $40 million in seed funding

• 1Kosmos — Identity proofing and authentication platform — raised $57 million Series B, including a $10 million credit line, led by Forgepoint Capital

• Dashverse — AI-powered entertainment startup from Bengaluru — closed a $13 million Series A round, led by Peak XV Partners

• Pronto — Home services platform — raised $11 million, co-led by General Catalyst and Glade Brook Capital.

Quick Bytes

- AI can now generate music compositions indistinguishable from human-produced music Read more

- Microsoft integrates GPT-4 into its Office Suite to enhance productivity features Read more

- Google announces plans to open a new AI research lab in Paris Read more

- Tesla unveils its latest AI-driven self-driving software update Read more

One to Watch: The rise of AI in creative fields is transforming content production across industries.

That’s all for this week’s Tech Talent Drop — stay informed, and see you next week!