Artificial intelligence use permeates many industries at an increasing rate. The job site Workey got into the AI game, raising $8 million USD to replace their headhunters with AI.
AI isn’t just for video games, robots, and the tech industry anymore.
The career site Workey integrates AI seamlessly into their digital job platform. Of course, this AI integration comes at the expense of human-occupied jobs.
Despite this, Workey successfully raised millions of dollars to power this transition. The company also recently transitioned from “Workey” into “Gloat”.
What does this latest move toward automation signal about the future of jobs?
What is Workey/Gloat Anyway?
You may have heard of websites like Upwork or Remote that function as job boards. But Gloat, formerly Workey, debuted with the tagline “Tinder, but for recruitment.”
Now, their new website bears the tagline “anonymously discover career opportunities, know your worth, and meet amazing companies.” They really went hard into the “Tinder” angle.
Gloat functions for both active and passive seekers thanks to its anonymity. They forged partnerships with companies like WeWork, Yahoo, and Oracle to act as headhunters. Jobseekers capitalize on the anonymity of their platform to avoid hiring biases.
Ben Reuveni, the CEO and co-founder of Gloat, commented on this brand change.
“We urge you to revitalize your career strategy with a fresh attitude. We want this name change to tell our users to go ahead and gloat about success on your own terms.”
So, how do AI and Series A funding come into the picture?
How did They Raise $8 million USD for a Headhunter AI?
For those who might not know, “Series A Funding” is known as the first significant round of funding in the venture capital world.
Gloat achieved this level of funding last year. For context, Reuveni and two others founded the company in 2015.
The $8 million USD funding came far before the brand shift. But the company kept the idea to replace headhunters with AI. In fact, that’s the entirety of the company and platform.
Think about how recruiting works: a recruiting expert finds specialist candidates for job placement. That requires connections, follow up meetings, and paying a finder’s fee of sorts. It’s kind of like how agents work for multiple high-profile clients and leverage their networks to serve existing and new clients.
Gloat eliminates the need for a human in this role. Instead, Gloat puts the onus of work and agency of choice on the potential job seeker.
One of the benefits of using AI over people, however, is that users can track their application statuses. The app also offers free services for job applicants, making money from companies who make hires. There’s that “finder’s fee”.
That means the trend of replacing human resources positions with AI will continue to grow.
The Increased Integration of AI in the job Market
Our world will become more and more automated as the years stretch on. Despite older statistics saying almost half of jobs might be on the way out, new figures suggest otherwise.
Only about 14% of jobs show a risk of automation, according to a new report.
Much like Flippy the robot, many developers design AI to work alongside humans. Replacing jobs or eliminating jobs doesn’t seem to be the main goal anymore. Besides, recruitment is somewhat of a boutique service to begin with.
Perhaps headhunting, like brick and mortar stores, will become a “luxury” in the future.