Alarum Technologies a global provider of enterprise and consumer internet access solutions announced that its Enterprise Internet Access arm, NetNut Ltd. (“NetNut”), has secured its first Artificial Intelligence (“AI”) recruitment market customer for its recently launched cloud-based digital technologies and analytics.
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The client utilizes AI and machine learning to modernize and streamline background checks, promoting transparency, fairness and efficiency in the talent’s hiring process for a more equitable future of work.
NetNut provides a cloud service which allows its customers to collect data at large scales from multiple web sites and data sources around the world. With NetNut’s robust network, its customers can easily handle vast amounts of information on job candidates, employees and talents, and will be able to cross-reference data from a large number of databases, without the need to develop complex data collection solutions, thus freeing the vendor to focus on its business of recruitment.
According to an overview of the AI recruitment market, recently published by the Market Research Future in August 2023, titled “AI Recruitment Market Research Report”, the AI Recruitment market was valued at $540.4 million in 2022. According to the same source, the AI recruitment market industry is projected to grow from $590.5 million in 2023 to $942.3 million by 2030, exhibiting a compound annual growth rate of 6.9% during the forecast period between 2023 and 2030. According to the report, screening high-quality candidates from u******** databases, improving time and efficiency, and decreasing overall spending in companies’ HR budgets are the main reasons driving this market’s growth.
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“We are proud that one of the leading names in the recruiting industry has chosen to partner with NetNut. We believe that this collaboration reinforces NetNut’s position as one of the biggest brands in our sector in addition to highlighting our unwavering commitment to innovation and excellence. As we move forward, this collaboration will unlock new avenues for growth,” said Shachar Daniel, Chief Executive Officer of Alarum.
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