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Contxto – Brazilian software company, Senior made an undisclosed investment in Mindsight, a data analysis startup specializing in solutions for human resources (HR).
The startup will use the investment to increase its customer base. Specifically, Mindsight will be able to tap into Senior’s 12,000 clients that already use the developer’s HR-related software. Mindsight will help these businesses shift through CVs faster thanks to its machine learning solution.
In addition, as of January both Senior and investee will offer each other’s products.
Mindsight sees into your mind?
When HR is looking to hire someone, they have two big concerns. The first is finding the person that best fits the role. Secondly, it’s ensuring that the candidate will mesh with the company’s culture. This mix of quantitative and qualitative attributes sometimes means HR risks a game of hit or miss when hiring.
Something Mindsight’s Founder, Thaylan Toth, probably experienced during his time at Stone Pagamentos. At this major Brazilian firm, he worked as Head of People Analytics and in the HR department. Mindsight was established in 2015 and since its founding, the startup has worked with banking institutions like Santander and Itaú, as well as Toth’s former employer, Stone.
Thanks to its use of data analysis, Mindsight can predict performance potential and a candidate’s likelihood of adhering to company culture during the recruitment process.
By taking behavioral samples from the company’s target market and the organization itself, Mindsight can better identify signs of compatibility with a role and the company culture.
Besides this data analysis, the startup offers a full profile of the candidate, a corresponding report and ranking of applicants.
AI and HR? I dunno…
Mindsight sounds fantastic for businesses and like a more unbiased way of evaluating candidates and personnel. However, I find it’s a little invasive to pick someone’s brain that way. Moreover, if someone puts their own mind to it, they can cheat their psychometric tests.
For an algorithm to get a full picture of a business and fully-understand its needs and culture should be a dutiful task to be carried out by Mindsight.
Plus, I’m one to think that there are qualitative features that are harder for an algorithm to detect. For now at least.