Figure AI, a Silicon Valley-based humanoid robotics startup, has experienced an overwhelming volume of job applications since its founding in 2022. According to CEO Brett Adcock, the company received 176,000 résumés over three years but only hired approximately 425 people. This translates to an incredibly low hiring rate of about 0.24%, which is significantly lower than the acceptance rates of top universities, including Caltech's 3%.
Adcock noted that most of the applications were of poor quality, which he described as "slop." He expressed frustration with the time-consuming process of reviewing these applications, stating that even applicant tracking systems (ATS) struggle to efficiently filter through such a large volume. The CEO mentioned that it takes at least 20 seconds per submission in the ATS, even for clearly unsuitable candidates, indicating the inefficiency of current methods for high-volume recruitment.
This phenomenon highlights a broader trend in the job market where job openings attract hundreds of applications, partly due to candidates using AI to apply to more roles. Data from Greenhouse, a leading ATS platform, shows that the average job opening now receives 242 applications, a threefold increase from 2021. Figure AI operates at the intersection of robotics and artificial intelligence, two of the hottest sectors in tech, which likely contributes to the massive influx of applications. Adcock has indicated that he may need to develop new methods, possibly an AI model, to better sift through résumés.
The intense competition for talent in AI and robotics has led to a "talent war" among tech firms, with companies like Meta and OpenAI offering substantial compensation packages, ranging from seven- to nine-figure sums, to attract top AI researchers. Even startups in these fields are offering attractive equity packages and research opportunities to secure skilled professionals. Despite the high volume of applications, companies like Figure AI and others, such as Glean (an AI startup whose CEO struggles to find candidates with strong work ethic), are still finding it challenging to identify suitable candidates amidst the deluge.
