At the recent Startup Mahakumbh event, Fractal Analytics’ cofounder and group CEO Srikanth Velamakanni shared insights into how the company is leveraging artificial intelligence (AI) to revolutionize its hiring procedures. Fractal has developed an AI tool named Fractal 360, specifically designed for internal use, aimed at streamlining the hiring process.
Velamakanni elaborated, stating, “Fractal 360 is a test with an infinite number of questions generated through generative AI. AI plays a crucial role in selecting the questions for potential employees.” This innovation is vital for Fractal, a SaaS unicorn that hires approximately 2,000 individuals annually and screens around 4 Lakh potential employees. Currently, Fractal boasts a workforce of around 5,000 employees.
Moreover, Fractal has implemented an AI agent named Dexter to enhance the employee experience. Velamakanni highlighted the importance of creating a seamless work environment, stating, “We have deployed an AI system called Dexter to assist our employees in their daily interactions with the company.”
Finding top-tier talent for AI development remains a challenge, as Velamakanni noted, “Adding value to talent is crucial, but acquiring exceptional talent initially is paramount. We have a rigorous selection process where only one employee is chosen out of every 200 applicants.” Fractal’s emphasis on meticulous selection aligns with its culture of encouraging experimentation and embracing failure, leading to innovative breakthroughs.
Fractal’s internal integration of AI aligns with its broader strategy of developing AI products for clients. Recently, the company unveiled Kaleido.ai, a text-to-image generating AI model capable of producing high-quality images from text prompts in English and 17 Indian languages. This innovation underscores Fractal’s commitment to leveraging AI across diverse applications.
India’s increasing focus on AI adoption in business is notable. Prime Minister Narendra Modi emphasized India’s role in spearheading the global AI transformation during the Startup Mahakumbh event. As per Inc42’s report, India’s GenAI market is projected to exceed $17 billion by 2030, growing at a CAGR of 48% from $1.1 billion in 2023. The Union Cabinet’s recent approval of the IndiaAI Mission, with an allocation of INR 10,372 crore over five years, further underscores India’s commitment to advancing AI initiatives.
Fractal Analytics’ innovative use of AI in hiring processes exemplifies the transformative potential of AI across industries. As India continues to embrace AI-driven solutions, companies like Fractal are at the forefront of driving innovation and shaping the future of work.
