Poonawalla Fincorp’s AI Empowerment in HR

 In a landmark move for the financial sector, Poonawalla Fincorp Limited, backed by the Cyrus Poonawalla Group, has introduced Artificial Intelligence (AI) into its Human Resources (HR) Strategic Business Unit (SBU). This initiative demonstrates a bold step towards operational excellence.



Redefining Recruitment

With CTO Salil Hajarnis at the helm, the AI-enhanced recruitment process has drastically reduced offer finalization times from ten days to less than a day—a 90% decrease. These efficiencies stem from AI’s capabilities in document verification and candidate evaluations, which have also significantly reduced costs.

“The integration of AI in HR is part of our broader strategy to lead in digital transformation,” said MD and CEO Arvind Kapil.

AI-Powered Innovations

  • Smart Resume Matching: Enhanced precision in finding suitable candidates.

  • Instant Document Checks: Time and error reduction through automation.

  • Efficient Processing: Minimal recruiter intervention.

  • Dynamic Job Postings: Accurate and timely postings across platforms.

  • Real-Time Candidate Screening: Faster, smarter decisions.

Employee-Centric Enhancements

A WhatsApp-driven AI bot is set to streamline employee support, addressing payroll and policy queries instantly. This technology also ensures unbiased, efficient hiring practices.

Academic Collaboration

A partnership with IIT Bombay underscores Poonawalla Fincorp’s commitment to leveraging academic expertise. Dr. Pushpak Bhattacharyya expressed optimism about the collaboration’s potential to revolutionize the sector.

This balanced approach ensures AI supports meaningful human interactions, establishing Poonawalla Fincorp as a trailblazer in HR innovation.

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