Overview
LinkedIn is introducing fresh AI tools devised to aid users in locating and applying for available job positions. This latest feature, solely tailored for LinkedIn’s Premium members, is placed as a ‘coaching-like’ experience for those on the job hunt.
With these tools, users can engage with a chatbot to discuss available job opportunities, seek guidance and advice on the compatibility of a posted role by their profile, inquire about the skills required to improve their candidacy for a particular job or gain insights into the background of companies they’re considering for employment.
LinkedIn: A Global Professional Hub
Founded in 2003, LinkedIn is a global platform uniting professionals to enrich their productivity and success. Boasting over 1 billion members globally, it is the largest professional network, counting executives from every Fortune 500 company among its user base.
LinkedIn is a hub of activity, with 140 job applications submitted every second, showcasing the platform’s dynamic nature. Interestingly, 45% of hirers on LinkedIn explicitly leverage skills data to fill their roles. Impressively, 61 million people utilise LinkedIn weekly for job searches, emphasising its role as a prominent job-seeking platform. The platform’s impact is substantial, with an average of eight individuals securing employment every minute through LinkedIn.
The platform, celebrating its 20th anniversary in 2023, has solidified its status as the go-to platform for job seekers, recruiters, and sales professionals. Boasting over 61 million listed companies and available in 26 languages, it offers a global reach.
Founded in 2003 by Reid Hoffman, who is also associated with OpenAI, the platform was acquired by Microsoft in 2016. Under the leadership of CEO Ryan Roslansky, the career-oriented platform has embraced a diversified business model, deriving revenue from various sources such as Talent Solutions, Marketing Solutions, Sales Solutions, and Premium Subscriptions products. Headquartered in Silicon Valley, the company maintains several offices scattered across the globe.
More About the New AI-Powered Tool
The upcoming feature will introduce a built-in job coaching tool utilising AI technology and LinkedIn data to assist job seekers in navigating and applying for roles aligned with their profiles and career goals.
According to Tomer Cohen, chief product officer at LinkedIn, ‘Premium’ members will experience increased ‘personalisation’ in every interaction, offering insights on topics and ‘personalised career actions’.
The tool will provide personalised suggestions, from recommended building skills to connecting with professionals in one’s network. Cohen also highlighted that the AI-powered feature will delve into lengthy articles, videos, and posts, offering how the information can benefit users.
The AI tool, leveraging data from the LinkedIn’s vast network, will guide profile customisation for successful applications and assess the fit for various roles. It will also analyse a user’s feed posts and recommend suitable opportunities.
This new chatbot builds on recent AI enhancements introduced by the career hub, including personalised recruiter messages, AI-enhanced job descriptions, and a profile-building service in May 2023.
LinkedIn has been on a revenue-winning streak, with an impressive 26% growth, generating over $14 billion in 2022, a substantial leap from the $10 billion in 2021.
Impressively, 40% of surveyed B2B marketers identified the platform as their most effective channel for generating high-quality leads, capitalising on its ability to target specific demographics based on job title, company, industry, and seniority. Further, 77% of content marketers praise the platform for delivering the best organic results, outshining competitors like Facebook, Instagram, and YouTube.
As the platform continues to evolve and contribute to revenue growth, it’s crucial to examine its impact, especially with the introduction of AI-powered features for recruiters and employees. With the transformative power of these tools, it’s worth exploring how LinkedIn addresses concerns surrounding AI in recruitment and, in turn, positively impacts lives and careers.
