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Industry Landscape
The HR Technology industry is rapidly evolving, driven by AI and automation to enhance efficiency in talent acquisition and management. Demand for integrated solutions and data-driven insights is high, especially among staffing firms and large enterprises. Focus is on streamlining processes, reducing costs, and improving candidate experience.
Total Assets Under Management (AUM)
Staffing Industry Revenue in United States
~213.2 Billion USD
(1.3% CAGR)
- US staffing industry revenue in 2023.
- Projecting continued growth in 2024.
- Driven by increasing demand for flexible workforce solutions.
Total Addressable Market
213.2 Billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Generative AI for Content Creation
Generative AI is increasingly used to create personalized job descriptions, candidate outreach messages, and even interview questions, streamlining communication and enhancing candidate experience.
Explainable AI (XAI) in Recruiting
XAI focuses on making AI's decision-making process transparent, crucial for building trust and addressing concerns about bias in candidate matching and screening, especially in regulated industries.
Blockchain for Credential Verification
Blockchain technology can secure and verify candidate credentials, certifications, and work history, reducing fraud and expediting background checks in the recruitment process.
Impactful Policy Frameworks
New York City's Local Law 144 (2023)
This law, effective July 5, 2023, regulates the use of automated employment decision tools (AEDTs) in New York City, requiring bias audits and public disclosure of audit results.
It mandates that Kleos, as a provider of AI-driven talent acquisition solutions, ensures its AI matching and sourcing tools undergo regular bias audits to comply with transparency and fairness requirements, directly affecting product development and compliance costs.
Illinois Artificial Intelligence Video Interview Act (2020)
This act, in effect since January 1, 2020, requires employers to notify applicants if AI is used to analyze video interviews, obtain consent, and explain the AI's analytical capabilities.
While Kleos focuses on sourcing and matching, if their platform integrates or expands into video interview analysis, this policy would necessitate clear disclosure mechanisms and consent protocols for users in Illinois, affecting feature development and legal compliance.
California Consumer Privacy Act (CCPA) and CPRA (2020/2023)
The CCPA (2020) and its expansion, the California Privacy Rights Act (CPRA) in 2023, grant California consumers extensive rights over their personal data, including the right to know, delete, and opt-out of the sale or sharing of their data.
Kleos must ensure robust data privacy frameworks are in place, allowing candidates and clients to exercise their data rights, impacting how candidate data is collected, stored, processed, and potentially shared within their ATS/CRM and AI platforms, leading to increased compliance efforts.
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