How did a human resources consulting firm come to develop artificial intelligence software?
Ludovic Bourg In 2010 competition was getting increasingly fierce and we were faced with the growing momentum of professional social networking, which has made part of companies’ organisation and key players visible to all. As a result, we thought it was necessary to review our value chain. In Executive Search activities, this consists of two main areas: sourcing engineering and assessment engineering. We wondered whether new data processing technologies and predictive models could allow us to use this business data to identify the best applicants more quickly.
Artificial intelligence-assisted sourcing allows us to focus on our core business.
At this moment in time, what does using Cerebra artificial intelligence allow you to do?
L.B. This revolutionary tool was designed by our research teams in association with a Canadian development lab specializing in natural language processing (NLP). Its operational launch was in 2017, following six years of research and development. The software tool is able to analyze all professional digital data left online by applicants on social media automatically, such as job sites/forums and directories. Where recruiters previously needed weeks to shortlist the best executive profiles, using algorithms now means it can be done in just a few seconds, and executives are then contacted so as to assess such aspects as their interest in a role.
Has this new technological development changed how you approach your business?
L.B. Yes. Artificial intelligence-assisted sourcing allows our consultants to find profiles that are inaccessible for a recruiter buried in the huge mass of information online, as well as to focus on our core business: consulting. Artificial Intelligence and Human Intelligence go very well together. Our business model has also changed because we can now add software publishing to our traditional consulting activities. Since 2018, our subsidiary LittleBIGjob has been selling our solution to companies and recruitment firms. This technological development has also had a very positive impact on our acquisition strategy. It has even become one of our key arguments when approaching a company or forming a partnership.
What advice would you give to a company wanting to make a technological shift like you have done?
L.B. In B to B, the director must be aware that this approach generally takes two or three times longer than forecast. It is very difficult to control not only design and development time, but also the time needed to switch over to this new technology and integrate it into existing HR department processes. It is therefore essential to work with financial partners who are aware of this time factor and the need for flexibility in going to market. Crédit Mutuel Equity presented us with a long-term approach. This approach was realized by implementing a two-step combination of investment, with the Growth Capital team investing in people and the project, and the Innovation Capital specialists investing in technology.
What the partner says
Franck Thouroude, Senior Pricinpal, Crédit Mutuel Equity
Ludovic Bourg has made sure that he is supported by the right people, and has tackled the issue of the development time needed for this ambitious project, which is now operational.
Ludovic Bourg’s LittleBIGjob tool was designed nearly 10 years ago and it constitutes a real technological breakthrough. This approach has enabled him to take risks and act as a visionary, proactive manager. He is at the head of one of the leading names in the executive recruitment business, and, as such, has brought the traditional models of this market into question. Ludovic Bourg has made sure that he is supported by the right people, and has tackled the issue of the development time needed for this ambitious project which is now operational.
The common vision shared by Ludovic Bourg and Crédit Mutuel Equity is allowing to take the next step forward and access a promising new horizon, where each company has the power to use external data.
Lorenz & Hamilton in brief
4seconds to generate a shortlist
600mprofiles analyzed worldwide
18 m€in revenue
Human Resources Consulting Group Lorenz & Hamilton was founded in 2008 and has gradually expanded its offer and positioning in the senior management and executive segment.
The group works with key brand names in the following areas:
- Headhunting and key talent recruitment consulting with PEARL Executive Search and KENSEO
- Outplacement and Executive Coaching via the top Dirigeants et Partenaires firm.
- Transition management and expertise via the NORGAY & RED platform and a strategic partnership with XPM Transition Partners
- HR data analysis technologies via artificial intelligence tools designed by LittleBIGjob.