The use of artificial intelligence (AI) in recruitment is gaining traction across industries, with companies increasingly turning to AI-powered hiring solutions to reduce hiring time, improve candidate selection, and cut costs. One of the latest adopters of this trend is the cryptocurrency exchange Bitget, which announced in a recent report that it has reduced its hiring time by 38% after implementing AI-driven recruitment processes.
The company’s transition to automated resume screening, candidate ranking, and interview scheduling has allowed it to streamline hiring workflows, reducing manual resume processing by 76% and lowering reliance on external hiring agencies, which previously accounted for 40% of recruitment costs. Employee retention has also improved by 15%, as AI-driven hiring ensures better candidate-job alignment.
According to Gracy Chen, CEO of Bitget, AI allows not only for hiring faster, but for “hiring smarter”. “This technology is helping us attract top talent more efficiently while optimizing costs and improving long-term retention”, she said.
AI’s Growing Role in Corporate Hiring
Bitget is not alone in turning to AI for recruitment. Across technology, finance, and Web3 sectors, HR automation has gained momentum as companies seek to address inefficiencies in hiring processes. In the past year, firms such as Google, JPMorgan, and Coinbase have increasingly leveraged AI-driven recruitment solutions, particularly as the competition for specialized talent in tech and blockchain intensifies.
A recent study by McKinsey & Company estimates that AI-powered HR solutions can reduce hiring cycles by up to 45%, cut administrative costs by 30%, and improve employee retention by providing more accurate job-fit assessments.
The shift towards AI-driven hiring also comes as Web3 companies compete for blockchain developers, security specialists, and smart contract auditors, which remain among the most in-demand roles in the industry. With Web3 job postings rising 39% in 2024, AI-driven hiring solutions could become essential in meeting the sector’s evolving needs.
Balancing Efficiency with Transparency
While AI-powered hiring has led to faster recruitment and cost savings, concerns remain over transparency and bias in AI decision-making. Some companies have come under scrutiny for algorithmic bias in hiring models, prompting increased calls for AI audits and ethical hiring practices.
For Bitget, the use of AI not only represents a shift towards automation but also a potential blueprint for other cryptocurrency exchanges looking to scale efficiently in a competitive market. As the Web3 sector matures, more firms may follow suit, blending AI and human oversight to navigate hiring challenges and attract top-tier blockchain talent.
