Recruit Holdings (6098) 53rd Annual JPMorgan Global Technology, Media and Communications Conference summary

Company mission and strategy

• Focused on simplifying hiring in the $300B+ HR industry by reducing manual labor through AI, technology, and data innovation.

• Evolved into a global technology leader, supporting millions of employers and job seekers worldwide.

• Emphasizes democratizing and empowering the job seeker experience, inspired by the acquisition of Indeed.

• Merged offline and online recruitment to enhance AI capabilities and user experience.

• Aims to deliver innovations that lower hiring costs and improve societal outcomes.

Labor market trends and outlook

• Developed countries face declining labor supply due to aging populations, with the U.S. seeing minimal working-age growth.

• Forecasts continued weaker hiring demand for the next 12 months, with about 10% less demand.

• Expects unemployment rates to remain moderate (5%-5.5%), not reaching recessionary highs.

• U.S. HR tech revenue is projected to grow slightly despite a 10% decline in job openings.

AI and technology innovation

• Transitioning from selling application quantity to quality, leveraging AI for screening, matching, and interviews.

• AI is central to redesigning operations, with 1/3 of programming code now written by AI, aiming for 50% soon.

• AI agents provide personalized, recruiter-like experiences for both job seekers and employers.

• Proprietary data from a large two-sided marketplace enables unique, personalized AI solutions.

• Offline recruiter data is used to train and improve AI agentic experiences.