Seeing the demand for multilingual video solutions in Asia, Neufast offers a proprietary AI video interview cloud solution, helping companies with offices across Asia to assess candidates with greater effectiveness in 50% less time.

by Agnes Wun, Co-founder & CEO, Director (Product, Strategy & Finance), Neufast
In early 2020, COVID-19 broke out and it has since changed the whole game of the recruitment process. The face-to-face interview has become luxurious, forcing companies to make a change in their process of talent acquisition, bringing the job interview process to the Internet.

In 2021, statistics from legaljobs.io show that 60% of HR managers in the US used video interviewing in the hiring process, while a joint study from StandOut CV and JD-Library in the UK has revealed that the amount of video interviews being conducted has increased by 67% from 2020 to 2021. The video interview has become a norm, with nearly 72% of recruiters believing that automation and artificial intelligence can make positive impact globally.

Seeing the demand for multilingual video solutions in Asia, Neufast offers a proprietary AI video interview cloud solution, helping companies with offices across Asia to assess candidates with greater effectiveness in 50% less time. Most importantly, we support competency assessment of transcribed text in local Asian languages including Mandarin, Cantonese, Thai, Malay and Indonesian other than English.

Neufast’s AI Video Interview Solutions

Neufast is an award-winning HR Tech company founded in Hong Kong, consisting of HR professionals and experienced team members coming from major industries to support companies’ recruitment and talent assessment needs.

Our flagship cloud solution, an AI-powered, multilingual Video Interviewing and Assessment Solution, utilizes knowledge of Industrial and Organizational Psychology in the Trait Theory of Personality and Human Work Performance. Neufast employs AI technology to derive from audiovisual and contextual data from interview videos to offer personality and competency insights of candidates. The service combines state-of-the-art industrial and academic research on computer vision, audio analytics and linguistic analytics to infer individual’s facial, speech, and textual expressions to predict impression as well as work performance in the form of Competencies (i.e., synergetic sets of knowledge, skills, abilities, and other attributes that contribute to success for a role). Neufast’s AI interview solutions are applicable to most of the popular Asian languages and achieve above 95% candidate ranking consistency for top candidate recommendation.

Automated Video Interview (AVI)

Academic study by Hickman et al. (2021) investigated the reliability and validity of using automated video interviews (AVI) to assess Big Five personality traits. The result showed that AVI personality assessments exhibit good evidence in both validity (How accurately AVI personality assessments measure personality) and reliability (How consistently AVI personality assessments measure personality).

From a practical perspective, the joint study from StandOut CV and JD-Library states that video interviews have become the most popular method of conducting first-stage interviews with 86% of employers favoring it in 2021. The automated video interviews have been proved to be trustworthy and adopted by employers in the world.

About the author :

Agnes has 15 years’ experience in labor and welfare policy, workforce planning as well as digital transformation, software development and technical engineering with government, Fortune 500, and listed companies. Agnes’ work experience span across Hong Kong SAR, Singapore and the UK helping with business planning and digitalization for the Industry 4.0. During her tenure with the HKSAR government, she worked on the policy for social inclusion for the Persons with Disabilities (PwD) with public transport concessionary fare scheme and mental health awareness educational campaign with NGOs. She is an advocate for equal employment opportunity and gender equality in the workplace.

Agnes is part of the founding team and Hons. Treasurer of Women in Engineering (WIE) of IEEE Hong Kong. She is the Head of Artificial Intelligence Applications Group (2020-2022) of the Society of Operations Engineers (Hong Kong Region). As a professional, Agnes is a Chartered Engineer with the UK Engineering Council, a CPA (Aust.), Financial Risk Manager (FRM) of the Global Association of Risk Professional (GARP).

About Neufast:

Neufast is an award-winning talent assessment technology company. Neufast provides an AI-assisted, multi-lingual video interview intelligent cloud supporting Mandarin, Cantonese, English, and Thai speaking job candidates in video job interviews for helping corporates achieve their Diversity and Inclusion policy for ESG and being the Employer of Choice.

Gender-neutral, AI-powered multi-lingual Video-based competency assessment with high reliability between Auto Score and HR Scores of competencies (Cronbach's Alpha of 0.911).

Neufast's company's mission is to offer ethical AI to support diversity hiring with bias-mitigated algorithms for equal opportunity. Neufast's proprietary technology is rooted in Industrial and Organizational Psychology and Computer Engineering. The intelligent cloud provides 24x7 service with fair and scientific talent assessment solutions on intelligent multi-cloud.

Neufast's proprietary bias-mitigated deep learning models achieve Normalized Discounted Cumulative Gain (NDCG) of 96% match in candidate ranking as compared to internal HR candidate ratings, 91% reliability, and 83% accuracy for job candidates across 10 countries in Asia. Neufast is trusted by HKSTP, Hong Kong Jockey Club, ​McDonald’s Hong Kong, Carlsberg APAC, Hong Yip property management, Crystal Group (HK.2232), and Hospital Authority in selecting top performers.

Neufast's client's success stories include 50% reduction of cost-per-hire across 10 APAC countries with thousands of interview hours saved. Neufast's proprietary deep learning models are validated with 91% reliability and 83% accuracy in identifying core competencies and job motivation with over 30,000 video data. Neufast's study shows that top scorers pass the fourth-fifth rule with no significant adverse effects for gender.

Continue Reading: AI Interviews are Helping You Hire Better Talent​