Eightfold AI’s Innovation and Momentum Set the Stage for Continued Growth

Eightfold AI, the provider of the Talent Intelligence Platform™, continues its rapid growth, innovation, and customer expansion across every segment of its business. Eightfold AI’s most recent fiscal year was highlighted by numerous landmark accomplishments, capped by the unveiling of the Indiana Department of Workforce Development’s Hoosier Talent Network and an infusion of new investment, a $125M Series D funding round led by General Catalyst. The company works with customers across 110 countries, 19 industries, and 16 languages. Other recent accomplishments include:

Customer and Partner Expansion:
Eightfold AI customers are world leaders in financial services, media & entertainment, technology, consumer packaged goods, insurance, professional services, and other sectors.

• In 2020’s second half, Eightfold AI expanded its relationships with organizations across all industries and geographies. Several of these additions include AirAsia, Micron, Mercado Libre, BNY Mellon, Bayer, Booking.com, Dexcom, and Dolby.
• Eightfold AI also continued its momentum by expanding and developing numerous new partnerships with organizations such as CarahSoft, Pro Unlimited and Oracle.

Seeking to evolve their workforce into a competitive advantage, select Eightfold customers have achieved significant results, including: a 49 percent increase in the number of employees finding their next role within their current company, a 58 percent increase in employees offered other jobs within the same company after their role had been eliminated, and 60 percent more highly qualified candidates applying to open jobs.

Industry-leading Product Innovation:
As a leading provider of AI-based HR offerings, Eightfold AI continues to push established boundaries in both product development and practical usage. Recent developments include:

• The U.S. patent and trademark office recently notified Eightfold that it had examined and allowed for issuance a patent on Eightfold’s invention titled “system, method, and computer program for automatically predicting the job candidates most likely to be hired and successful in a job.” The invention relates generally to machine learning in human resource applications, and more specifically to using machine learning to assist HR teams in evaluating candidate and job profiles.
• Eightfold AI was recently chosen over 50 competing solutions by the U.S. Department of Labor as a next-generation platform that could help military service members transitioning into the civilian workforce find their perfect employer match. Eightfold.ai was selected as the Grand Prize recipient of the Veterans’ Employment Challenge designed to improve and modernize the Transition Assistance Program. During a final evaluation conducted by service members, instructors, and employers, the Eightfold.ai solution achieved a 96 percent approval rating, far exceeding the required 80 percent success threshold.
• Eightfold announced the Career Hub, a central destination where every employee can find new opportunities, projects, mentors, learning opportunities, and more within their organization. Personalized and available any time, Career Hub allows remote workforces to continue their career progression at their preferred pace.
• The Eightfold Talent Exchange has been rebranded as Eightfold Career Exchange. This evolution of our service offering is meant to better communicate the breadth of benefits that Career Exchange truly represents.

Also Read: Digital Transformation and Edge Computing go Hand in Hand

Commentary:

“We are tremendously proud of our ability to help our customers adapt to the unprecedented demands of this year while continuing to grow and scale ourselves,” said Ashutosh Garg, CEO, Eightfold AI. “Our platform has demonstrated tremendous productivity gains and shown organizations the future of talent acquisition and management. Now that the foundation is set and the advantages of AI-based HR solutions have been shown, we’re ready to continue this momentum and keep pace with the needs of our global customer base in 2021 and beyond.”

“It is both an honor and an opportunity to be a part of the team building a platform like ours at a time when the need for it is so clear,” said Sandesh Goel, Managing Director, India at Eightfold AI. “Our India team is comprised of the most talented and effective individuals in the world because we offer them a chance to make an impact on a global scale.”