After more than a decade of R&D in the field of artificial intelligence (AI), machine learning, and natural language processing, Textkernel has reached a breakthrough in accuracy with the successful application of Deep Learning to its resume parsing algorithm: Extract! 4.0.
Extract! 4.0: The Result of Years of R&D
As one of the leading AI R&D labs in the HR and recruitment world, Textkernel has always been at the forefront of innovation in its field. After years of R&D, Textkernel has accomplished a fully Deep Learning based CV parsing model: Extract! 4.0.
This milestone results in a major qualitative leap in the way Textkernel’s intelligent products can accurately parse resumes. Extract! 4.0 shows an increased accuracy rate across a large range of fields, with error rates decreasing by 20-30 percent on average. Textkernel customers benefit by having even more accurate data in their systems and better search results due to the improved extraction.
SmartRecruiters has integrated Textkernel’s CV parsing solutions in their software system. According to their CEO, Jerome Ternynck, the game-changing nature of this breakthrough places Textkernel well ahead of the competition in a crowded CV parsing solution market.
“The game-changing nature of this breakthrough places Textkernel well ahead of the competition in a crowded CV parsing solution market.“
Resume parsing (also called CV parsing) is the process of converting an unstructured resume into a structured format that can be integrated into any software system. It helps create a better candidate experience, eliminates data entry, and enables better search.
Deep Learning: A Game Changer
Deep Learning is a set of AI algorithms that automatically finds patterns in data using brain-like structures called Neural Networks. From self-driving cars to automated personal assistants, Deep Learning has revolutionized nearly every field it has been applied to.
“Deep Learning has transformed entire industries including automotive, healthcare, retail and financial services. Today, Textkernel is revolutionizing the HR domain with its launch of Extract! 4.0” explains Matt McNair, VP Global Services at CareerBuilder – Textkernel’s parent company.
The new release of Textkernel’s resume parsing software is currently available in the English languages. This significant milestone not only marks the beginning of upgrading all major Textkernel products with Deep Learning technology but also paves the way for the much faster development of highly accurate new language models.