In an effort to automate internal procedures and reduce repetitive work, IBM has started substituting AI agents for some of its HR (human resource) employees. As the internet giant increasingly relies on AI-powered solutions, Arvind Krishna, the company’s CEO, recently claimed that “a couple hundred” HR personnel’ jobs have been replaced by AI.
This type of action also represents a trend in which businesses are increasingly depending on AI to optimise internal procedures, hence decreasing their reliance on physical labour. Although IBM has not provided a timeframe, rumours indicate that some 200 positions have already been phased out.
Other Departments Witnessing Hiring Spree
It’s interesting to note that the corporation is not shrinking in general just because HR positions are being reduced. The overall number of employees at IBM has increased, with more people being hired in divisions like software engineering, marketing, and sales—areas where interpersonal, problem-solving, and human interaction are still essential.
Arvind Krishna clarified in an interview with a well-known media outlet that automating some processes has allowed funds to be allocated to other projects.
He added that although IBM has made significant efforts to apply AI and automation in some enterprise processes, he said that overall employment has increased since it allows for greater investment to be made in other areas.
AI Gaining Traction in the Tech Sector
In the tech industry, the usage of AI agents—software tools that can do tasks like data sorting, emailing, or processing internal requests—is rapidly gaining traction. Although there hasn’t yet been a significant wave of AI-related job losses, some businesses are halting hiring until they determine the best way to apply the technology.
These AI agents are already being deployed at IBM to manage staff transfers and perform employment verification. HR employees used to complete them by hand. The change doesn’t necessarily mean that jobs will disappear completely, according to Nickle LaMoreaux, chief human resources officer at IBM.
She stated, “Very few roles will be completely replaced.” AI will probably replace repetitive tasks instead, freeing up workers to concentrate on tasks requiring judgement and decision-making. IBM is now providing new AI services to its clients in addition to reorganising its internal teams.
The company revealed tools this week at its annual Think conference that enable companies to create and manage their own AI agents. These tools are intended to complement current platforms from companies such as Microsoft, Amazon, and OpenAI.
IBM predicts that within five years, about 7,800 positions, or over 30% of non-customer-facing roles, might be automated. This does not, however, mean that everyone will lose their jobs. Employees are expected to learn how to deal with AI tools as most roles change.
As the sun rises on January 16, the nation proudly observes National Startup Day, a testament to India’s commitment to encouraging innovation and entrepreneurship. In 2022, Prime Minister Narendra Modi declared this day to celebrate the vibrant spirit of startups, acknowledging them as the backbone of a ‘New India.’ Since then, the startup landscape in the country has witnessed significant growth, with businesses sprouting across the nation.
In 2016, the Indian government laid the foundation for this growth with the inception of the Startup India initiative. Today, India stands as the third-largest startup ecosystem globally, with over 1,12,718 DPIIT-recognized startups spread across 763 districts as of October 3, 2023. The nation not only ranks second in innovation quality but also excels in scientific publications and the quality of its universities among middle-income economies.
In this context, StartupTalky connected with experienced individuals who have navigated the changing landscape of India’s startup ecosystem. In straightforward discussions, we explored their perspectives on India’s progress, the significant role played by the Government of India in driving growth, and their forward-looking views on the future of their respective industries. Their words reflect the pulse of a dynamic and ever-evolving entrepreneurial India.
Mr. Tarun Nazare, Co-Founder & CEO of Neokred Technologies, sharing fintech sector insights said, “Since 2016, we have witnessed the ecosystem go from boom to bust and bounce back. India’s startup landscape saw unicorns thrive, funding dip, and rebound. Now, the emphasis is on profitability with emerging sectors, promising resilient, innovative futures. Its advantages are that the Government is capitalistic, and focuses on the growth of all the sectors. Witnessed very active participation from RBI, regulator of Fintech. Expect mature decisions and good governance for yet-to-be-regulated sectors in the near future. We see promising activities from all the participants in all industries to make sure India’s GDP crosses more than $7 trillion by 2030.”
Kulin Shah, Co-founder and COO of Onsurity said, “Embarking on my entrepreneurship journey, witnessing the addition of over 68,000 startups, the space has undergone a transformative shift and evolved into leaders of product innovation. As the co-founder of an Insurtech, I’ve keenly observed the strategic initiatives that have propelled the rise of InsurTechs such as the regulatory framework, progressive policies, and initiatives. For example, with the introduction of the use and file process, insurers can introduce products to the market on filing with the regulator, thus avoiding a long waiting duration to get approvals. The introduction of regulatory sandboxes and streamlined licensing processes has further paved the way for growth.
Our industry has transcended from a selling approach to a seamless, digital realm, where transactions unfold effortlessly at the click of a button. Insurtech platforms are no longer just facilitators of claims but are comprehensive service providers, offering a diverse array of insurance options with a strong emphasis on convenience and paperless processes.”
HR Industry’s Evolution
Manish Panwar, Business Head, Vega HR,said, “India’s startup ecosystem has surged, driven by a young, dynamic, and talented workforce as well as increased funding, and government initiatives like Startup India. These measures include simplified regulations, tax benefits, and financial support, creating a conducive environment for innovation and entrepreneurship. The aim is to foster economic growth, and job creation, and position India as a global startup hub.”
“Cities like Bangalore, Delhi-NCR, Hyderabad, etc. are tech hubs, hosting diverse startups from fintech to ed-tech. Global attention and investment highlight India’s growing role in the global startup landscape.”
Panwar further added, “The future for the HR industry looks promising driven by a combination of government support, the startup boom, and the need for innovative talent management strategies. At Vega HR, we are passionate about creating solutions for employee rewards & recognition as well as enabling digital equity and streamline the process of ESOP management effortlessly. As companies recognize the importance of aligning employee interests with organizational success, total rewards (short-term & long-term) are expected to play a pivotal role in shaping the future of India’s corporate landscape, and we want to be at the forefront of steering this movement.”
Biotechnology’s Growth
Mr. Najeeb Bin Haneef, Founder and CEO of Zaara Biotech, shares his perspective on the success of his startup and the broader landscape of the biotechnology industry. Reflecting on the system around him, Mr. Haneef states, “The success of my startup does not depend on my knowledge or luck; it is solely because of the system around me that supports my dream.”
He emphasizes the role of various support initiatives, events, and schemes introduced by the government that have been instrumental in the growth of Zaara Biotech. “The various schemes of the state and central government help us reach our products and services in domestic and international markets as easily as a student startup. From our inception, we have explored all privileges available to a student startup, allowing us to pitch and exhibit at various national and international events, with significant support from the state legacy, Kerala Startup Mission.
“We presented our first product at GITEX Global in the Dubai World Trade Center under the Startup Mission scheme. There is always a boom in the startup ecosystem, and the government plays a vital role in creating synergies with international trade and exports. Research stations such as ICAR-CIFT Cochin also enable support for startups like us to reach a broader audience by placing products in various central government sectors. They also recommend participation in various training sessions funded by ICAR,of said Haneef.
Mr. Sumanth Prabhu, Co-founder & CEO of Ulipsu, shed light on the evolution of the EdTech industry in India. He said, “In 2014, the startup ecosystem was not this mature. There wasn’t much awareness about startups, funding, financial models, sales and marketing education, etc. Initially, it was a dream that merely existed but eventually, the startup ecosystem evolved. The startup knowledge, its concepts, the training and mentoring required can be found everywhere. The investing community has increased interest in startups today comparatively. Over the last decade, the government has made efforts to ensure that the startup ecosystem in India is thriving, and rightfully, it has matured today. With programs like the ‘Startup India Program’, different schemes have been available in different states all over India to foster the development of budding startups.”
“Existing startup policies and schemes that were available for companies irrespective of the EdTech industry, has helped us a lot. The Karnataka Government conducts an annual competition where deserving startups are given recognition along with financial grants as high as 50 lakh rupees. Ulipsu was also one of the participating companies in 2018 that was granted 20 lakh rupees. Likewise, a lot of such support initiatives and events were introduced by the government to expand growth,the said Prabhu.
Highlighting the growth prospects of the ed-tech industry, Prabhu said, “Working in the ed-tech sector, the opportunities have increased drastically because of NEP implementation. We are aware about the future of education. Through NEP, there have been collaborations between the industry and academics. Much more awareness & preference is being given to skilling rather than rote learning. Multiple credit-based and entry-exit systems are helping children explore what they want to pursue. Learning outcomes are being influenced and catalyzed by AI. India, having the largest youth population in the world, is where education will show growth more rapidly than ever.”
Tech and Electronics in India’s Startup Landscape
Sandeep Kumar, Founder and CEO, Baatu Tech, highlighting his startup journey said, “In my journey through India’s dynamic startup ecosystem, I’ve witnessed remarkable growth backed by substantial government support. India, now the world’s third-largest startup hub, has seen a surge in total funding from 2015-2022, with 108 Unicorns valued at multiple billions as of March 2023.”
“The government’s initiatives, such as startup challenges, National Startup Awards, Incubators and Accelerators, Networking opportunities, and state rankings, contribute significantly to this success. Startups with sustainable business models and those innovating around artificial intelligence, Software-as-a-Service (SaaS), and deep tech are anticipated to progress well. However, some challenges persist, particularly in funding, revenue generation, and supportive infrastructure,” said Kumar.
While discussing the way forward, Kumar emphasized, “The way forward necessitates pivotal roles for venture capitalists, angel investors, and the corporate sector. Policy measures, in alignment with the Digital India Initiative, are crucial. Bengaluru is a powerhouse in India’s startup ecosystem, hosting a remarkable 1,783 women-led startups, outpacing Mumbai (1,480) and Delhi (1,195), as reported by the startup data platform Tracxn. As India aims to become a global tech player, decisive policy measures and sustained support are vital for continued success, significantly beyond traditional sectors.”
Mr. Sanjeev Ingti, Director & Co-Founder of Eliea Wellness, sharing insights from the personal care industry, remarked, “During my journey, I’ve observed India’s remarkable strides in ecosystem studies. The nation has fostered a robust scientific community, embracing interdisciplinary research to understand and preserve its diverse ecosystems. Collaborations, technological advancements, and environmental policies showcase India’s commitment to sustainable development and biodiversity conservation.
The Indian government has actively propelled the medicinal personal care industry’s growth through policy initiatives, regulatory support, and incentives. Encouraging research and development, streamlining approvals, and fostering innovation have created a conducive environment for accelerated expansion, promoting health-centric products and contributing to the sector’s positive development.
The future of India’s personal care industry promises innovation driven by technology, sustainability, and wellness trends. With a surge in demand for clean and natural products, the industry is poised for eco-friendly advancements. E-commerce and personalized solutions will further redefine consumer experiences, shaping a dynamic and health-conscious landscape.”
Similarly, Mr. Lasakan Cholayil, Co-Founder of Sadhev, reflecting on the landscape of beauty and personal care startups, stated, “In my journey with Sadhev, I’ve seen firsthand the dynamic shift in India’s startup landscape. There’s a palpable energy, especially in our niche of organic beauty. It’s not just about business growth; it’s about a cultural shift towards sustainable living. We’re riding this wave, innovating and connecting with a community that values what we value.
The Government of India has been a catalyst for us. Initiatives like ‘Make in India’ haven’t just been slogans; they’ve opened doors. We’ve seen tangible support in promoting indigenous products, which has been a game-changer for brands like ours. It’s about preserving our heritage while scaling up.
Looking ahead, I see a horizon filled with opportunities. The trend is clear – there’s a growing demand for authentic, natural products. We’re not just selling products; we’re part of a larger movement towards sustainability. The market is ripe for innovation, and for startups like Sadhev, it’s a chance to lead this change, both in India and globally.”
Fashioning Entrepreneurship in India
Dhruv Toshniwala, Founder of The Pant Project, discussing India’s startup ecosystem, said, “At The Pant Project, we’ve had the privilege of witnessing India’s remarkable strides in the startup ecosystem throughout our journey. Over the years, we’ve observed a significant surge in entrepreneurial spirit, fostering a vibrant and dynamic landscape. The government’s proactive measures, such as ‘Startup India’ and various policy reforms, have created a conducive environment for startups. These initiatives aim to simplify regulations, reduce bureaucratic hurdles, and provide financial incentives, fostering a more supportive ecosystem. Many startups in India are not only focused on profitability but also on creating positive social impact. This dual approach has led to the emergence of socially conscious businesses that strive to make a meaningful difference in society.”
Highlighting the Government’s role in accelerating growth in the fashion industry, Toshniwala said, “The Government’s emphasis on skill development and education has contributed to a skilled workforce. This, in turn, has enhanced productivity and efficiency within the industry, aligning with the nation’s broader economic goals. Investments in infrastructure, including logistics and transportation, have streamlined our supply chain operations. Government initiatives to promote international trade have opened up new avenues for our industry. Bilateral and multilateral trade agreements have facilitated smoother exports and imports, contributing to the overall growth of the sector.”
“The digital landscape is transforming the way consumers shop. E-commerce, social media, and technology-driven experiences are shaping consumer behaviour. The Pant Project is strategically investing in digital platforms to enhance our online presence and provide a seamless shopping experience. The fashion industry in India is evolving towards greater inclusivity and diversity,” added Toshniwala.
In India’s startup journey, different businesses are growing with new ideas. From finance to fashion, they show how innovation and help from the government make a strong future. This is the story of a changing and hopeful world of startups in India.
StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.
The HR (Human Resources) industry helps businesses care for their people. It involves finding and hiring new employees, ensuring everyone gets along, and helping with training and performance. HR professionals also use technology to do their jobs better. They focus on creating a happy workplace and ensuring everyone feels good at work.
The global HR market is set to reach $38.17 billion by 2027, driven by over 380,000 businesses and nearly one million HR employees. With an annual growth rate of 12.8%, the HR industry is outpacing the US market average, reflecting its growing importance on a global scale.
In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Anand Bhushan, CEO of EasyRecruit Plus, Lexicon Centre of MSME Excellence, and EduCrack. We explored how the brand operates in the HR sector, uncovering the unique strategies employed by EasyRecruit Plus in the industry.
StartupTalky: What service does EasyRecruit+ provide? What was the motivation/vision with which you started?
Anand Bhushan: EasyRecruit+ is an initiative to support recruiters from companies in shortlisting the right applicants with the right aptitude, technical knowledge, and good cognitive skills who also have a verified background. This will enable recruiters to boost overall productivity and efficiency while also saving them significant time and allowing them to hire individuals with high potential in their respective organizations. Over a period of time, it will also show up in company productivity as the quality of hires goes up.
We are offering a comprehensive range of tools and packages. Our packages include three modern and advanced tools –
ATT – Aptitude & Technical Testing: ATT helps recruiters test and assess applicants based on their normal mathematical abilities, reasoning capabilities, general English, data interpretation, and domain skills and abilities. These tests can also be customized by the Organization based on its own objectives.
IntAna – AI-based Interview: IntAna helps recruiters with advanced interview dynamics like – verbal, non-verbal & sentiment analysis of the candidates. The verbal analysis helps in understanding communication skills, speaking, articulation rate, and approach. The non-verbal analysis covers attention, confidence, engagement, expressions, and positive as well as negative emotions. The sentiment analysis captures around 10+ general emotions, 80+ mini-emotions, and 150+ micro-emotions so that recruiters can conduct a thorough screening process and save valuable time at hand. Based on this test, a comparative score is generated.
iBG -Background Check: iBG helps recruiters with the shortlisted candidates’ resume verifications and includes their Address verification, Professional Reference, Educational Qualification checks, Employment Performance Verification, Criminal database verification and a few other verifications as per the needs of the Organization.
In addition, we have added one more service name, HTD: During my stints in senior leadership in various industries, I have seen my HR managers struggling with the initial screening for hiring and, at times, have seen good candidates not being shortlisted because of non-standardized screening. Recruiters face several difficulties and have to spend a significant amount of their time vetting prospects, having them technically examined, or getting background checks on candidates. Shortlisting applicants with the proper attitude, cognition, engagement, and communication skills for a specific job description with a verified background is made easier and more efficient with EasyRecruit+.
StartupTalky: What new services have been added in the past year? What is/are the USP/s of EasyRecruit+ service?
Anand Bhushan: During our interactions with the Industry Leaders, the fact that I already knew was reiterated once again that although there are applicants in multiples for an open position, paradoxically, it also remains a fact that employable candidates with the aptitude and skill set remain few. Another challenge being faced by the Industry is finding and training employees in Junior Management and front-line positions, where the requirement is zero to 3 years of experience. Looking at these challenges, EasyRecruit Plus has added another service to its portfolio called HTD. In HTD, we recruit candidates on behalf of the Clients, make them undergo a Training Programme, do the certification, and then the candidates join the Principals.
The salient feature of our services is that being tech-enabled and AI-enabled, IntAna and ATT are reliable, objective, and biased and offer time-saving to the HR Teams. The HTD programs free the HR teams from other activities, while EasyRecruit Plus works on its strengths and does the candidate selection and training.
StartupTalky: How has the HR industry changed in recent years and how has EasyRecruit+ adapted to these changes?
Anand Bhushan: The industry has been evolving continuously; however, the pace has increased manifold in the last four years. Recruiters are finding that with new and disruptive technical and business advancements, job skills needed in the current roles are showing increasingly shorter life, and as a result, the candidates getting hired are neither 100% ready for the current job nor ready skill-wise for future requirements. Secondly, the Recruiters are now going out of their traditional talent pools and exploring other avenues. Colleges and Institutions are being looked upon for skilled resources, and accordingly, recruitment tools are being created to tap this pool. In the last three years, Working from home has made the candidates undertake virtual lessons and upskill themselves. Another important change that is happening is that the real good candidates have become very choosey about the Companies they join, and thus the HR has to come up with increasingly better Value Propositions for the employees. The outlook post-pandemic seems to be pretty good. The economy has started bouncing back, and although there are fears of a global slowdown, I feel India will come out unscathed. The job market is going to boom with the start-ups that are coming in and mature industries taking in more manpower. The signs are that India could be a major manufacturing and service hub, and that is going to add to the positive outcomes.
EasyRecruit Plus realizing the changing landscape of recruitment and candidate’s skill set, has also entered a new service to their portfolio by recruiting and training candidates on behalf of Clients, so they get Day Zero trained professionals on the first day of their On the Job training. This is going to ease a lot of the burden on the recruitment HRs in the organizations and add value to the candidates for better hires.
StartupTalky: How do you stay up-to-date on the latest trends and developments in the HR industry?
Anand Bhushan: Industry Expert’s meetings, attending the HR meets and summits, etc, as well as participating in job fairs, TPO interactions, CEO meetings, Internet, Best Prax being followed in Industries etc, are a few ways we try to understand the latest trends and developments in the Industry.
StartupTalky: What were the most significant challenges EasyRecruit+ faced in the past year, and how did you overcome them?
Anand Bhushan: Making the HR leaders believe the usage of tech and AI-enabled platforms for recruitment has been one of the biggest challenges. They very well understand the benefits but are reluctant to try out because of so much noise about AI and the fact that there is a thought at the back of their minds that it may lead to a reduction in HR manpower going forward. Consistent discussions, showing them that it will free the HR for the value-added work by freeing them from mundane tasks and offering to take the recruitment and training of the front line, which is quite cumbersome, are helping us overcome these challenges.
StartupTalky: Good service is something everyone is talking about in the service industry. How do you ensure that the clients of EasyRecruit+ are happy?
Anand Bhushan: Promising only what we can deliver and delivering the service with impeccable quality and within costs and timelines are the only ways you can keep your clients happy. There’s no other mantra for it. We follow this to the T.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.
Anand Bhushan: So far, we have been relying on personal contacts and word-of-mouth publicity, a few appearances in HR meetings, and write-ups on a few platforms. Now, we are venturing into social media marketing and will soon be actively participating in industry forums of different levels as well as hosting them.
StartupTalky: Foreign clients- this is what most of the service-based companies are looking for. What has been your experience?
Anand Bhushan: So far, we have not ventured into this. However, we are keeping our options open for an opportunity as and when it arises.
StartupTalky: What opportunities do you see for future growth in the HR industry in India and the world? What kind of difference in market behaviour have you seen between India and the world?
Anand Bhushan: With the Indian economy bouncing back and stability in the socio-political situation, the Country’s job market is bound to grow. The only shadow we see currently is in the IT and IT-enabled services, which get impacted due to Global sentiments and showdown. However, with other sectors pulling on, the overall job market seems to be buoyant over the next few years. The market behaviour of India is more positive as compared to the World’s market because of the fact of India’s higher growth per annum actual and projected compared to other markets.
StartupTalky: What lessons did your team learn in the past year, and how will these inform your future plans and strategies?
Anand Bhushan: Educating the Customer is very important. Taking feedback on whether the Client’s understanding is the same as ours. Incorporating these in our future plans in a more rigorous manner in planning out the new services is already on.
StartupTalky: How do you plan to expand the customers, service offerings, and team base in the future?
Anand Bhushan: For now, we are going to concentrate on the four services we have, including the HTD we have started. HTD requires a lot of focus to execute flawlessly, and making the systems and processes more robust is going to be our endeavour. Once that is done we will try to replicate the success with more number of such clients, who are already identified and initial talks started.
StartupTalky: One tip that you would like to share with another Service company founder?
Anand Bhushan: There is never a shortcut to success. It’s going to be a long haul. Strategies get overturned, revamped, and re-executed, but you have to be resilient once you have chosen a way forward, which your research has shown to be the right path. And finally. Never ignore your gut instinct.
StartupTalky extends its gratitude to Mr. Anand Bhushan for dedicating his valuable time and generously sharing his insights with all of us.
This article has been contributed by Bindu Ramachandran, Sr. GM of Training and Development, Clove Dental.
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