Nikita Sachdev, the founder & CEO of the award-winning Luna PR transforming communications in the Web3 and emerging tech landscapes.
From blockchain technology to artificial intelligence, we’re in an era where Web3 technologies are reshaping industries. When considering the advancement of technology in the context of human resources and talent management, the immediate thought often turns to job cuts.
However, contrary to popular belief, Web3—particularly AI—isn’t merely about job displacement; it’s about augmenting human potential, especially for those adept at leveraging these tools.
The workforce is undergoing a profound transformation, necessitating that both staff and employees learn to effectively use AI. While it’s evident that AI, with tools like ChatGPT, Gemini and Perplexity, are reshaping job roles, I anticipate it will primarily displace those who lack the skills to leverage AI technology.
AI In Talent Acquisition: Beyond Efficiency
At my company, one way we’ve integrated AI is into our hiring process by putting all our past and present employees’ CVs through ChatGPT. This allows us to sift through data swiftly, identifying patterns and trends that highlight the most promising candidates.
By analyzing these employees’ CVs, we’ve discovered the qualities that contribute to success within our organization. For instance, some of our top performers didn’t have a traditional career path to their current roles but displayed outstanding attitudes, potential and other traits that enabled them to be quick learners.
AI plays a crucial role in helping us identify the intangible qualities that set exceptional candidates apart, allowing us to find individuals who may not fit the conventional mold but have the right mindset for success. Here’s our refined process for leveraging AI in recruitment:
1. Identify top performers. Begin by selecting the top 10% of performers within the company or the department where you are hiring.
2. Gather comprehensive CVs. We ask these top performers to provide their most up-to-date CVs, ensuring they include not only their education and work experience but also hobbies, interests, soft skills, employment history and their Myers-Briggs personality test scores.
3. Analyze with AI. Using an AI tool, analyze the CVs by asking: “What traits or qualifications do these CVs have in common?”
4. Compare new candidates. With the insights gained, we input new CVs and prompt the AI to determine: “Does this CV align with the traits and qualifications of the top performers?”
This structured process allows us to precisely target candidates who align with the characteristics of our most successful team members, ensuring a more data-driven and effective hiring strategy.
AI can learn from hiring trends and performance data, refining its matches over time. By predicting which candidates will thrive in specific roles, it can uncover hidden talent and promote diversity by identifying nontraditional candidates with the right skills. This can lead to more inclusive, efficient hiring and long-term organizational success.
AI For Skill Verification And Talent Matching
AI’s potential goes beyond simply reviewing résumés. It can also serve as a powerful matchmaker, connecting job seekers with opportunities that align with their verified skills and experience. By analyzing code repositories, published articles, online contributions and professional networks, AI can create a comprehensive profile of an individual’s abilities. This can help ensure that businesses connect with the right talent faster, saving both time and resources, while offering candidates more tailored, fulfilling career opportunities.
Given the niche and rapidly evolving nature of the Web3 industry, I suggest teams be proactive in researching and implementing advanced tools to streamline hiring. For my company, this includes platforms like LinkedIn’s Talent Insights to support strategic hiring decisions, along with Teamtailor and Zoho Recruit, ensuring a more efficient and effective recruitment process.
Enhancing Transparency With Blockchain
While AI can enhance recruitment efficiency, blockchain technology can bring transparency and trust to the hiring process.
Decentralized identities (DIDs) enable individuals to control their digital identities, transforming résumés into tamper-proof, blockchain-verified records. These digital credentials, or verifiable credentials (VCs), can represent educational degrees, professional certifications, work experience and skills, all secured by blockchain technology. This innovation can reduce the risk of fake credentials and streamline background checks, making it easier to identify top talent.
At my company, we’ve grown from a team of five to 100 in just four years. This progress has been driven by our use of technology. While we are already utilizing AI in our hiring process, I’m eager to include a blockchain solution as well. The idea of turning resumes into NFTs holds significant value for us—it could not only prevent fraudulent claims but also dramatically reduce the time spent on background checks.
The Future Of Work Reimagined
With Web3, I see a future where diversity thrives, talent is recognized irrespective of background, and a truly meritocratic system emerges. While challenges remain, I think the potential of Web3 and AI to empower individuals and reshape the workforce is undeniable. The future of work promises to be more global, diverse, equitable and empowering than ever before.
Web3 is not just improving talent acquisition; it is helping us reimagine the entire concept of work. It enables geographical boundaries to further dissolve, allowing companies to tap into a global talent pool based on verifiable skills. This is the future Web3 is building—one where individuals can showcase their expertise on a global stage, unlocking new opportunities for remote work, freelancing and international collaboration.
Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?
Read the full article here
