Recruiter.com Group, Inc. (NASDAQ:RCRT) has announced a partnership with millionways Inc to develop an artificial intelligence (AI)-powered personality evaluation tool for recruiters and human resource (HR) professionals.
The provider of on-demand recruiting solutions said by integrating millionways’ emotionally-intelligent AI technology, which generates an empathetic and nuanced understanding of individuals, Recruiter.com will give HR professionals crucial insights into candidates' personalities, values, and motivations, paving the way for astute and informed hiring decisions.
“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,” Recruiter.com CEO Miles Jennings said in a statement.
The company noted that the partnership between millionways and Recruiter.com involves both a revenue-sharing agreement and a mutual equity investment strategy.
It added that 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.
As well, Recruiter.com said it has agreed to pay millionways a licensing fee based on a revenue-sharing model, in which millionways will receive 50% of the net revenue that stems from the product sales.
millionways' AI system leverages the PSI theory psychological model to predict various personality traits, such as the person's motivation, behavior, and compatibility with other people, according to the company.
Recruiter.com is an on-demand recruiting platform providing flexible talent acquisition solutions that scale from startups to the Fortune 100.
Contact Sean at sean@proactiveinvestors.com