Recruiting Radar #6
In this newsletter:
Market Watch
New Funding
Company Expansions
Executives On The Move
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MARKET WATCH
Chatbot Market worth $15.5 billion by 2028
The chatbot market will increase from USD 5.4 billion in 2023 to USD 15.5 billion by 2028, with a CAGR of 23.3% during the forecast period.The rising advent of generative models in chatbots to gain an advantage in the coming years as generative models can improve chatbots’ natural language processing (NLP) capabilities, enabling them to understand better and respond to human language. Moreover, Generative models, specifically neural network-based language models like GPT-4 can help chatbots to better understand the preferences and behaviors of individual users, enabling them to provide more personalized recommendations and support. | Source
For small-business owners, concern about finding talent remains high
05.09.23 - A recent report highlights the ongoing concerns of small business owners regarding talent acquisition. Small businesses face challenges in finding and attracting qualified employees to meet their workforce needs. The report indicates that this issue continues to be a significant concern for small business owners. Hiring and retaining skilled talent is crucial for the success and growth of small businesses. Factors such as competition from larger companies and limited resources contribute to the difficulties in finding suitable candidates. Small business owners are actively seeking solutions to address this talent shortage, including investing in recruitment strategies, offering competitive compensation, and providing opportunities for growth and development. The report underscores the importance of addressing the talent gap for small businesses to thrive in a competitive job market. | Source