Published on November 8, 2023, 1:58 pm
AI Revolutionizes the Job Search Process, Thanks to Generative AI
In today’s competitive job market, standing out from the crowd can be a challenge. Job seekers spend countless hours crafting and refining their resumes and cover letters in the hopes of catching the attention of potential employers. But with the advent of generative AI, the days of laboring over job applications may soon become a thing of the past.
One startup at the forefront of this AI revolution is EarnBetter. Founded by former CreditKarma employees, EarnBetter is developing a platform that leverages generative AI to transform resumes and cover letters for specific job listings. Users simply upload their existing resume or cover letter, and within minutes, EarnBetter reformats and rewrites it to align perfectly with the requirements of a particular position.
Co-founder and CEO Tuck Hauptfuhrer explains that EarnBetter aims to “level the playing field for job seekers.” The platform is designed to be accessible to all users, regardless of their tech skills. There are no complicated onboarding processes or prerequisites for using AI prompts. By streamlining the resume-writing process, EarnBetter offers a free, fast, and user-friendly solution to support job seekers.
In addition to its resume and cover letter transformation capabilities, EarnBetter provides users with a comprehensive job search tool and an editing suite that automatically highlights relevant skills and experiences related to available roles. It also allows users to save openings for later consideration or indicate disinterest in certain positions. Moreover, job applications can be sent directly through EarnBetter’s platform.
How does EarnBetter generate revenue? Hauptfuhrer reveals that employers are charged when individuals find and send job applications through the platform. While still in beta testing, over 100,000 resumes and cover letters were created using EarnBetter—a testament to its potential impact on the job search market.
EarnBetter’s focus on supporting job seekers differentiates it from traditional job boards or staffing companies. By harnessing the power of generative AI, the platform offers a unique proposition: a free and easy-to-use solution that enhances a candidate’s chances of finding suitable employment.
But what does this mean for individuals who painstakingly craft their resumes and cover letters from scratch? According to a recent poll by Resume Builder, nearly half of current and recent job seekers are already utilizing OpenAI’s AI-powered chatbot, ChatGPT, for writing their application materials.
Even before AI-driven solutions came into play, candidates who crafted their applications entirely independently might already have been behind the curve. Only about 2% of listings on popular job-finding platform Indeed as of March 2023 required a cover letter, with some hiring managers admitting to only checking for its inclusion when specifically requested. Furthermore, studies show that recruiters spend an average of just six seconds reviewing a cover letter.
While some argue that AI-powered tools like EarnBetter provide unfair advantages to those who can access them, Hauptfuhrer disagrees. He asserts that EarnBetter benefits not only job seekers but also employers by matching them with professionally written and tailored resumes and cover letters. This ensures that initial evaluations focus on skills and experiences rather than formatting abilities.
Hauptfuhrer further points out that EarnBetter’s AI job search assistant goes beyond traditional searches by identifying roles for which a candidate may be qualified but has not specifically searched. By broadening the aperture of someone’s search, EarnBetter expands the talent pool available to employers while making it easier for job seekers to find attractive opportunities.
EarnBetter’s promising business model has attracted attention from prominent investors such as Andreessen Horowitz, Abstract Ventures, and Figma founder Dylan Field. The startup recently closed a $4.5 million seed round, enabling them to expand their team and develop new AI-powered products and services.
As Hauptfuhrer emphasizes: “EarnBetter is an AI-native company.” They aim to make the power of generative AI accessible to all job seekers through a product that is free, fast, and easy-to-use. With EarnBetter paving the way, the future of job applications increasingly relies on the intelligent capabilities of generative AI.