Alliance is poised to transform the recruitment landscape, offering cutting-edge AI insights that empower companies to make data-driven and emotionally-intelligent hiring decisions.
NEW YORK, NY / ACCESSWIRE / June 20, 2023 / Recruiter.com Group, Inc. (NASDAQ:RCRT, RCRTW), a provider of on-demand recruiting solutions, and millionways Inc., a trailblazer in emotionally-intelligent AI technology, are pleased to unveil a partnership to develop an AI-Powered Personality Evaluation Tool for recruiters and human resource professionals.
The alliance is poised to redefine the HR landscape by utilizing millionways' cutting-edge AI, which is exceptionally skilled in generating an empathetic and nuanced understanding of individuals. By integrating this sophisticated technology, Recruiter.com will give HR professionals crucial insights into candidates' personalities, values, and motivations, paving the way for astute and informed hiring decisions.
The partnership between millionways and Recruiter.com involves both a revenue-sharing agreement and a mutual equity investment strategy. In detail, both entities are in the process of discussing mutual equity grants, where each company could potentially receive up to $500,000 in value in the other through an exchange of equity. Additionally, Recruiter.com has agreed to pay millionways a licensing fee based on a revenue-sharing model. Under this agreement, millionways will receive fifty percent of the net revenue that stems from the product sales.
Martin Cordsmeier, Founder and CEO of millionways, expressed his enthusiasm: "Our partnership with Recruiter.com epitomizes millionways' dedication to augmenting human potential through technology. By incorporating our AI into the HR process, we optimize recruitment and revolutionize how companies comprehend and engage with talent. This innovative use of AI heralds a transformative leap toward cultivating more harmonious and productive workplaces."
Miles Jennings, CEO of Recruiter.com, added, "We are exceedingly excited to join forces with millionways. Their emotionally-intelligent AI will empower HR professionals with valuable insights. This tool is set to revolutionize talent acquisition and hiring, assuring that the right individuals are assigned to the right roles, fueling success and innovation."
Diving into the technical aspect, millionways' AI system is founded on scientific and psychological principles. It employs a machine learning categorizer based on the Naive Bayes Natural Language Processing (NLP) Classifier. The AI can engage users in a conversation through a chat-based or voice-based interaction or analyze user-generated texts that are already available such as emails or messages. Utilizing between 3,000 and 5,000 words and leveraging the PSI theory psychological model, it predicts various personality traits, such as the person's motivation, behavior, and compatibility with other people. The system constantly learns and evolves through statistical analysis and feedback loops, making it incredibly accurate and reliable.
This partnership marries millionways' technological prowess in AI with Recruiter.com's expertise in recruiting solutions. Together, they are set to usher in an era of intelligent, data-driven recruitment that harmonizes talent acquisition with the evolving needs of businesses and candidates alike.
About Recruiter.com Group, Inc.
Recruiter.com is an on-demand recruiting platform providing flexible talent acquisition solutions that scale from startups to the Fortune 100. With an on-tap network of thousands of recruiting professionals and recruitment marketing automation, Recruiter.com helps businesses solve today's complex hiring challenges.
For investor information, visit https://investors.recruiter.com
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● LinkedIn Recruiter Network Group: https://www.linkedin.com/groups/42370/
● LinkedIn Company Page: https://www.linkedin.com/company/1240434
● Twitter Company Page: https://twitter.com/recruiterdotcom
● Facebook Company Page: https://www.facebook.com/RecruiterDotCom
About millionways, Inc.
millionways created the world's first emotionally-intelligent A.I. assessment tools, providing next-gen personality insights. Founded in New York, NY in 2021, millionways' disruptive technology is based on first time-digitalized PSI theory, natural language processing, meets several "zeitgeist topics" and can be utilized for B2B and B2C, which makes it a potential - currently untouched - billion dollar market opportunity. millionways was developed, and is continually evolving, through its team of renowned scientists, developers, psychologists, philosophers, deep thinkers, and people who use it. For more information, visit https://millionways.me
Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "predict" "forecast" "believe," "may," "in the process," "estimate," "continue," "anticipates," "intend," "should," "plan," "could," "target," "potentially," "is likely," "proposed," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include continued demand for professional hiring, general economic conditions, the successful negotiation between millionways and Recruiter.com, the accuracy of the Recruiter Index® survey, the impact of the COVID-19 pandemic on the job market and the economy as virus levels are again rising in many states, and the Risk Factors contained within our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2022. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update any forward-looking statements publicly, whether as a result of new information, future developments, or otherwise, except as may be required by law.
SOURCE: Recruiter.com Group, Inc.
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