Subscribe | Advertise

Good Morning. 

Welcome to a weekend edition of The Deep View, where we dive into what we think is the future of talent with a startup called Athyna, which we loved so much that we invested in it.

🧠 Note: Need great talent for significantly less than US equivalents? Submit a request to get talent here.

Recruiting Today

Recruiting has always been a daunting task. Opting to recruit talent yourself means spending countless hours sourcing, prospecting, and interviewing candidates, only for them to take a role at a competitor potentially. Alternatively, using recruiters often involves paying a hefty 20-35% premium and still requires significant time vetting, interviewing, and negotiating with candidates. Here’s what that process typically looks like:

Enter Athyna.

Athyna recently announced a $2.5 million round of fundraising to develop Athyna AI, an AI-driven recruitment platform that helps match great candidates with companies looking to hire.

Here’s Athyna AI’s new recruitment cycle:

DAY 0: Company receives job description in preparation.

• AI-smart matching begins immediately. Tens of thousands of candidates are vetted via machine learning and placed into a short list.

• Candidates are assessed on English proficiency and scored from 0/100 for matching fit.

• Shortlist of 25-30 is sent to the recruiter for approval. The recruiter sends invites for async AI-screening to the top 15-20.

DAY 1: Recruiter aligns with the hiring manager.

• A job is put out on the jobs board. As candidates that are 80% match and above apply they are invited to an async AI-screening.

• Recruiter looks through short list, schedules calls where necessary for extra level of vetting. Still day one.

DAY 2: Recruiter interviews top candidates

• AI transcribes the call and adjusts candidate scores based on interview quality.

• The recruiter endorses the top candidates. Still Day 2!

The remote hiring market today

In today's global job market, remote work isn't just an option—it's a defining trend that’s reshaping how, where, and when we work. Let’s dive into the numbers that highlight the transformation.

• Growth in Remote Work: Remote work has steadily increased globally since 2015, growing 1-3% annually. Post-COVID-19, 27% of workers were remote in 2022 (Statista).

• Strategic Benefits for Companies: In 2023, 41% of companies adopted remote work primarily to expand their talent pool, with an additional 28% citing it as a secondary reason (Statista).

• Remote Job Popularity: Software development is one of the top remote jobs, expected to grow 24% by 2026 (Tecla).

• Remote Workplace Market Growth: The remote workplace services market is projected to grow at a 23.8% CAGR, reaching $58.5 billion by 2027 (Notta).

• Use of Outsourced Talent: 71% of hiring managers plan to maintain or increase their use of freelancers over the next six months (Upwork).

• Remote Job Listings: It’s estimated that by 2028, 73% of all departments will have remote workers (Upwork).

Athyna’s AI-for-Talent Strategy:

Athyna has built a strong foundation with its existing talent network, having worked with over 100 companies to place talent at costs that are significantly less than US equivalents. With the launch of Athyna AI, the company aims to deliver incredible talent, matched with AI precision, at lightning speed. To achieve this, Athyna is implementing several key strategies:

1. Ava: AI-Powered Job Search Tool for Candidates:

2. Global Job Board:

3. AI-Precision Matching:

4. Lightning-Fast Hiring Process:

🧠 Note: Need great talent for significantly less than US equivalents? You can schedule a call with Athyna here.

Critical Analysis: Strengths and Challenges

While Athyna’s approach is innovative, it’s essential to assess both its strengths and potential challenges critically.

Strengths

• Efficiency: AI dramatically speeds up the recruitment process, reducing the time and effort required to find and match candidates.

• Scalability: AI allows Athyna to handle large volumes of candidates and roles, making it easier to scale operations.

• Data-Driven Decisions: The use of AI in matching candidates to roles based on a wide array of data points leads to more accurate and satisfactory matches.

Challenges

• Quality Assurance: While AI can process vast amounts of data quickly, ensuring the quality of matches remains a challenge. Human oversight is still crucial to ensure the AI’s recommendations are sound.

• Bias in AI: AI systems can inherit biases from the data they are trained on. Athyna will have to continuously refine its algorithms to mitigate any unintended biases in its recruitment process.

• User Adoption: Both employers and job seekers need to trust and feel comfortable with AI-driven recruitment processes. Building this trust requires transparency and proven results.

Our Experience with Athyna

As a customer, The Deep View has experienced Athyna's seamless hiring process and fast turnaround time firsthand. The high-quality candidate placed on our team is a testament to Athyna's effective approach. We believe that the integration of AI into their process could further enhance the experience, making it even more efficient and precise.

Market Impact and Future Outlook

Athyna's strategic positioning puts them at the forefront of the AI revolution in recruitment. As they continue to develop and refine their AI-driven solutions, we anticipate a significant impact on the global talent acquisition landscape. Businesses will benefit from faster, more accurate hiring processes, while job seekers will have access to a wider range of opportunities that better match their skills and preferences.

Athyna's AI-driven approach tackles the core challenges faced by both talent and employers in the recruitment process. By leveraging the power of AI to match incredible talent with precision and speed, Athyna is set to transform the industry. 

The future of recruitment is now, and Athyna is leading the charge.

P.S. Of course, this is not financial advice, but if you’re as excited as we are about what Athyna is doing, you can invest and join their Wefunder campaign here.