As a digital entrepreneur and a founder of multiple companies, Vasily Kostin has had his fair share of recruitment observations across various sectors. His experience, expertise, and insights have been pivotal in developing a revolutionary platform to improve the hiring process, regardless of the industry.
- Please tell us more about yourself and the pivotal moments in your life that led you to be a tech entrepreneur.
Certainly. My journey began in Western Europe, where I nurtured a deep fascination for technology and programming at a young age. This guided me to pursue further studies in programming at the university, a decision that would later form the cornerstone of my career.
As I ventured into the professional world, I founded Accord Digital, an advertising agency that quickly became recognized among the top ten in Western Europe. Our collaborative efforts with renowned brands such as Dannon, Carlsberg, and Lufthansa brought a wealth of experience and a clear vision of the dynamic interplay between technology and business. We had the privilege of crafting major digital products for well-established corporations. This hands-on experience became an immense learning ground, laying the foundation for my understanding of the digital landscape from a holistic perspective.
As I delved deeper, I realized the potential to branch out and create my own products, which led to the founding of several digital startups. While it’s true that not all of them found their footing, the majority blossomed into successful ventures, proving that transformative digital solutions can happen through innovation and perseverance.
These mixed experiences, the successes, and the failures, carved out a new path for me to fully embrace the role of a digital entrepreneur and founder. It’s been an exhilarating journey marked by continuous learning and growth. Each step, whether forward or backward, has been pivotal.
- What’s it like to be a CEO of a group of companies?
Being the CEO of a group of companies, each with its unique niche, is akin to orchestrating a harmonious symphony of innovation and progress. After the journey with Accord Digital, I ventured into creating about five different enterprises across the advertising industry, fintech, and the broader digital sphere. My role has profoundly evolved from a coder and project manager to someone who orchestrates the larger vision, ensuring each venture thrives independently and synergizes with the others.
- As a CEO and entrepreneur, what pain points did you personally experience or observe that led you to spearhead the creation of Huntica?
Over the last decade, I’ve been deeply involved in hiring. I recognized significant gaps and inefficiencies in the traditional hiring frameworks during this period. These were not just pain points for HR managers but for the candidates as well.
In parallel, Accord Digital was often commissioned to craft digital advertising campaigns to attract talent for our clients in the banking and retail sectors. These projects gave me firsthand experience of AI’s immense potential in streamlining and optimizing recruitment. I realized that integrating AI could enhance the precision of matching the right candidates with the right opportunities and drastically reduce the time HR managers spend on recruitment, potentially saving up to 70% of their time.
My background in programming and a persistent passion for technology became pivotal in translating this realization into action. This fusion of personal experiences, insights gathered over the years, and my love for innovation guided Huntica’s inception. Through Huntica, we aim to revolutionize the recruitment landscape, making it more efficient, intelligent, and aligned with the contemporary digital era.
- The hiring process is undeniably ever-changing. For you, what are the most significant changes you’ve witnessed or experienced throughout the years?
Indeed, the hiring landscape has greatly changed, especially recently due to the pandemic. We witnessed a rapid rise in video interviews, breaking old beliefs about camera-based interactions.
This change became a chance to completely rethink recruitment. Through my IT experience and market knowledge, I developed a solution for modern recruitment – Huntica. It embodies a vision where technology enhances the human element rather than replaces it, facilitating more meaningful connections and engagements in the hiring process. It’s about combining AI’s efficiency and analytical prowess with the warmth and understanding of human interaction to create a harmonious and streamlined experience for both employers and potential candidates.
- For those still very much “traditional” in their hiring practices, what are the crucial components they’re missing out on? Do you think these are detrimental to their organizations’ overall progress?
Absolutely. The recruitment industry is indeed fast-changing, which means that old-school hiring can hold companies back. For one, younger talents, raised in a digital age, expect a modern hiring process. Old methods might not click with them, causing a gap in expectations.
Also, traditional ways can be slow. Modern methods boosted by AI, like Huntica, offer quick insights, letting companies decide faster and stay ahead of rivals. Plus, AI provides deep analysis, helping find the best fit for roles and improving the quality of hires.
So yes, I think holding onto traditional practices without integrating modern technological advancements can indeed be detrimental to an organization’s progress. It’s about embracing the change and utilizing technology to foster a more responsive, intelligent, and efficient hiring process, which is vital for overall organizational growth.
- What do you think is keeping recruiters from adapting new technologies?
The reluctance to adapt to new technologies often stems from a fear of complexity and the potential loss of the personal touch in the recruitment process. Moreover, there might be concerns regarding data security and privacy. To alleviate these fears, it’s vital to demonstrate that these technologies are designed to complement, not replace, the human element in recruitment. Showcasing robust data protection measures can also instill confidence. The key is to foster a smooth transition through training and support, allowing recruiters to experience firsthand the advantages and progression these innovations bring.
- Can you please share the journey of Huntica, from the idea behind it to the actual development?
Certainly. It began at a pivotal moment when the world was grappling with a sudden shift in the working environment due to the pandemic. I was keenly observing the transformations happening in the recruitment sector.
A simple realization sparked the initial idea: the traditional hiring processes were witnessing a paradigm shift, and there was a golden opportunity to merge technology and humanity to redefine the recruitment industry. Huntica came to be through my programming background and extensive experience in digital advertising, where we were often tasked to attract talents for various industry giants. I knew a platform that could bring a new dimension to hiring processes was definitely needed.
The development phase was exhilarating. We aimed to create an efficient AI-powered platform that could add a personal touch to the interview process. We integrated features like an avatar that conducts interviews with a degree of warmth, sometimes even sharing a joke, making the experience more engaging and less intimidating for the candidates. Moreover, the AI capabilities were designed to provide insightful analyses of interviews, aiding HR managers in making informed decisions while saving a considerable amount of their time.
As we progressed, we continually refined our approach, ensuring that Huntica would be innovative for the recruitment industry. Huntica is a testament to what is achievable when technology is wielded to enhance human connections, promising a more streamlined, intelligent, and personal recruitment process.
- What were the hindrances in this journey, and what helped you and your team persevere?
We faced challenges like ensuring user-friendly AI integration without losing the personal touch and navigating concerns related to data privacy. What kept us going was our shared vision of revolutionizing the recruitment process. Constant feedback, team collaboration, and a relentless commitment to our goal empowered us to tackle each obstacle and stay true to our mission.
- Do you think that AI and machine learning are making people lose their capabilities as human beings?
No, I believe that AI and machine learning are tools that, when used responsibly, can augment our capabilities rather than diminish them. They can take over repetitive tasks and analyze extensive data sets more efficiently than humans, allowing us to focus on more creative, strategic, and humanitarian pursuits. It’s all about striking the right balance.
- What’s your message for those still on the fence about adapting to these new technologies like AI and machine learning, in general, and those in the recruitment industry?
To those who are hesitant, I’d like to say that embracing technology is all about enhancing our capabilities to create more fruitful, efficient, and innovative outcomes. In the recruitment sector, it means empowering professionals to make well-informed decisions, optimize processes, and ultimately find the best match for every role. This makes the workplace more harmonious.
I urge you to approach these technologies as allies. By welcoming these innovations, you’re not just staying ahead in the game; you’re actively shaping a more dynamic, responsive, and inclusive future for the industry.
