Alexa

June Edition 2021

Powered by the world’s only AI Talent Intelligence Platform, Eightfold delivers significant ROI with higher retention, faster hiring, and greater diversity

thesiliconreview-ashutosh-garg-ceo-eightfold-21.jpg

Historically, the reach of AI was limited by computing power, access to data, volume of data, etc. But that’s no longer, due to the advances in deep learning, and big data. AI will be embedded in every industry and business process, from health to education to transportation. Human capital is no exception; virtually every business will be using AI for people, for their workforces, within years, not decades. AI can help address the talent gap in our society between the skills and potential that people have and their ability to express their individual gifts. Imagine what would happen if every person could do their best and most fulfilling work. It would unleash a huge wave of productive energy into the world, and allow for much greater personal satisfaction. Artificial intelligence can help us understand the skills, capabilities, and potential of each person, and help them see how they can proceed through their careers in the way that matters to them. It can be used by companies to transform their talent acquisition, employee retention, and candidate experience to focus on the potential of each individual. Talent Intelligence Platforms are a big part of this. These are intelligent platforms, AI-driven platforms, which help companies through the whole employee lifecycle. These Talent Intelligence Platforms, these systems to hire and manage a workforce driven by AI, can help a company see past the traditional resume, and understand the capabilities of what someone is capable of doing in their next roles.

Globally there are various firms providing excellent solutions for talent management, but Eightfold stands out from the rest. Eightfold (aka VolkScience) is the industry’s first Talent Intelligence Platform, built for enterprises, to address Talent Acquisition and Management in a holistic fashion. Grounded in Equal Opportunity Algorithms, the Eightfold® Talent Intelligence Platform uses deep-learning AI to help each person understand their career potential, and each enterprise understand the potential of their workforce. Eightfold’s deep learning AI uses neural networks that learn from 1 billion+ profiles, billions of global data points and 1 million+ unique skills to deliver bias-free, data-driven insights.

Talent Intelligence Powers Talent Transformation

It is impossible to accurately convey a candidate’s experience on a resume, resulting in candidate profiles that lack true assessments of potential. Powered by the world’s largest source of talent data, Eightfold fills in the gaps by identifying Validated Skills, Likely Skills, Skills to be validated, and Missing Skills. Enterprise talent maps are static and outdated by the time they are analyzed. Eightfold Talent Insight’s self-refreshing global data set enables companies to identify the prevalence of capabilities on a global scale – which capabilities are increasing, which are diminishing, and where to find people with desired capabilities in real-time. The Eightfold Capability Dashboard enables employers to benchmark their workforce against a global data set to identify capability gaps in their workforce, initiate targeted reskilling and upskilling efforts, and identify individuals with specific skills and demonstrated potential. Eightfold’s deep-learning AI not only delivers a comprehensive understanding of workforce capabilities, but also understands each individual’s capabilities, skills adjacencies, and demonstrated learnability to provide a concrete, future orientation to talent strategy.

Achieve Diversity Goals

By anonymizing people in the hiring process, and providing analytics about where people are not progressing, AI can greatly improve diversity. DE&I strategy begins with the very first candidate interaction. A career site powered by Eightfold is personalized to the candidate’s skills, fast to use, transparent, and encouraging, helping each candidate see themselves as a full participant in the company. Hiring managers and recruiters should screen candidates based on qualifications. Anonymous profiles hide personal information such as evidence of gender and ethnicity, so talent decisions are based on the skills and potential of each candidate. Despite all other efforts, unequal outcomes can occur. Diversity analytics update daily to flag potential bias anywhere in the hiring process, so the organization can investigate and resolve any cause. Diversity analytics also measure the need for, and impact of, equity policies. Eightfold Talent Management solutions empower employees to explore and pursue their growth based on their skills and interests, removing barriers from legacy methods for mentorship, skills development, promotion, and lateral transfer. Eightfold uses the Equal Opportunity Algorithms method to ensure every recommendation uses only relevant data, and never uses factors such as age, race, gender, or disability status. With Explainable AI, Eightfold shows how each recommendation is based on relevant data and builds trust in all talent decisions.

Meet the leader behind the success of Eightfold

Ashutosh Garg is the CEO and Co-Founder of Eightfold. With 6000+ research citations, 50+ patents, 35+ peer reviewed research publications, and the outstanding PhD thesis award from UIUC for his PhD thesis in Machine Learning, it’s fair to say that Ashu is one of the world’s experts in machine learning. Co-Author of the book “What’s next for you – The Eightfold Path to Transforming the Way We Hire and Manage Talent”.

“We believe employment is the backbone of our society, and everyone deserves the right job”