SUMMARY
Speaking at Startup Mahakumbh, Fractal Analytics cofounder and group CEO Srikanth Velamakanni explained how its AI tool Fractal 360 is helping the startup in the hiring process
Built for internal use, Fractal 360 helps the startup’s hiring teams select what kind of questions they want to ask potential employees
The SaaS unicorn also deploys an AI agent called Dexter to streamline the employee experience
At the Startup Mahakumbh, SaaS unicorn Fractal Analytics’ cofounder and group CEO Srikanth Velamakanni gave the attendees an insight into how the startup is utilising its research on artificial intelligence (AI) to make its hiring process more compact.
Fractal has developed an AI tool called Fractal 360, which is built for internal use.
“Fractal 360 is a test, where the number of questions is infinite. All the questions are generated through generative AI. There’s a lot of AI that comes into play just while selecting which kind of questions to ask potential employees,” Velamakanni said.
The startup claims to hire 2,000 people every year and screens as many as 4 Lakh potential employees annually. In total, Fractal currently employs around 5,000 people.
On top of that, the SaaS unicorn also deploys an AI agent, Dexter, to streamline the employee experience.
“You don’t want your employees to come in everyday and swipe an access card when they log in. We have deployed an AI system called Dexter which assists our employee base in their interactions with their company,” he said.
Velamakanni also said that finding the right talent for AI development is a challenging task.
“You can add value to the talent but getting great talent in the first place is very important. We have a rigorous selection system through which we only select one employee out of 200. Finding the right one after the rigorous process works for us because then we let them in a culture where they can experiment. Failure is accepted, celebrated, and you see amazing magical things come out gradually,” he said.
Velamakanni added that the startup’s internal utilisation of AI intersects with its focus on building AI products for its clients.
Notably, the startup recently unveiled its text to image generating AI model called Kaleido.ai. As per Fractal, the model is capable of generating high-quality images from text prompts in English and 17 Indian languages, including Hindi, Sanskrit and Tamil among others. It is trained on a public dataset of 70 Mn images.
It is pertinent to note that the Indian government has also increased its focus on pushing the adoption of AI models in businesses.
Speaking at the three-day Startup Mahakumbh, Prime Minister Narendra Modi said that India will spearhead the AI transformation in the world.
As per an Inc42 report, India’s GenAI market size is expected to grow at a CAGR of 48% to surpass the $17 Bn mark by 2030 from $1.1 Bn in 2023.
To give a further impetus to the AI ecosystem in the country, the Union Cabinet recently approved the IndiaAI Mission with an allocation of INR 10,372 Cr over the course of next five years.
