IGT Solutions pioneers GenAI innovations with AWS to transform recruitment, procurement processes
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In a groundbreaking move set to revolutionise business operations, IGT Solutions on Thursday said it has partnered with Amazon Web Services (AWS) to launch TechBud.AI, a cutting-edge Generative AI platform aimed at streamlining recruitment and procurement processes.
This collaboration marks a significant step forward in harnessing the power of Generative AI to drive efficiency and innovation across industries.
IGT Solutions' newly unveiled Recruitment.AI platform, built on AWS's robust cloud infrastructure, is poised to redefine the hiring landscape. By leveraging advanced large language models and machine learning capabilities, the system automates critical aspects of the recruitment process, from resume screening to candidate assessment.
"With Recruitment.AI, we're not just accelerating hiring - we're elevating the entire candidate experience. Our platform can efficiently process over 30,000 resumes annually, ensuring we identify the best talent for our clients. We have seen over 99 per cent accuracy in resume screening and close to 81 per cent reduction in time to hire by leveraging AWS GenAI Stack (Amazon Bedrock and Amazon Sagemaker)" said Navneet Taneja, CBO at IGT Solutions.
Key features of Recruitment.AI include automated resume collection from multiple external channels; AI-driven candidate shortlisting based on qualifications and experience; enhanced candidate categorization for optimal job matching based on rating; automated Interview scheduling and candidate on boarding.
Complementing its recruitment innovation, IGT Solutions has also unveiled Procurement.AI, a sophisticated platform designed to transform contract management and vendor evaluation processes.
Built on AWS's scalable cloud services, this solution bolsters security access and uncovers hidden patterns via deep analytics and addresses the challenges faced by enterprises dealing with vast numbers of complex procurement documents.
"Procurement.AI is a game-changer for businesses struggling with manual contract reviews. By harnessing the power of AWS's language models, we're able to extract key insights from thousands of pages of contracts in a fraction of the time it would take human analysts. Based on the outcomes we have seen 80 per cent reduction in manual efforts,” said Love Ojha, VP, Digital Transformation at IGT Solutions.
Procurement.AI offers cognitive vendor shortlisting, automated extraction of key terms and clauses, global summarization of multiple documents, table0based multi-vendor comparison capabilities, enhanced regulatory compliance management.
To further accelerate innovation, IGT Solutions and AWS have established a joint Centre of Excellence (CoE) focused on Generative AI, data, and digital solutions. This collaborative hub will serve as an incubator for next-generation AI applications across various industries.
"Our partnership with AWS exemplifies the transformative potential of Gen AI when combined with IGT’s domain expertise," said Navneet Taneja, CBO at IGT Solutions.
As businesses increasingly recognise the value of AI-driven solutions, IGT Solutions and AWS are positioned at the forefront of this technological revolution.
With their TechBud.AI platform serving as a foundation for enterprise-wide Generative AI applications, the companies are set to deliver sustained and profitable outcomes for clients across the globe. The successful implementation of Recruitment.AI and Procurement.AI serves as a powerful testament to the potential of Gen AI in transforming core business functions.
As these technologies continue to evolve, IGT Solutions and AWS remain committed to pushing the boundaries of what's possible in the realm of artificial intelligence and cloud computing, said the company.
