This was originally posted on Yahoo! Finance.
HR Tech Leader Launches Skills Analytics Engine to Prepare Employers and Employees for the Jobs of the Future
LAS VEGAS, Sept. 27, 2021 /PRNewswire/ — retrain.ai, a leading Talent Intelligence Platform, announced today at HR Tech in Las Vegas, the launch of its new AI-powered engine, Sofi, designed to map skills, roles and talent, and provide real-time market data to help enterprises and HR executives match talent to career opportunities. Using Artificial Intelligence and Machine Learning, SOFI assists governments and organizations in hiring, and retraining and re-skilling existing talent for jobs of the future to ensure greater diversity and inclusion, while empowering employees and job seekers to take control of their careers.
Sofi quantifies skills, occupations and roles, and incorporates market data with enterprise data in order to analyze and predict job fit and work readiness levels. The platform dramatically shortens the reskilling and upskilling process, cuts hiring costs and optimizes talent management using millions of real-time data points about jobs, occupations and skills.
Sofi uses next generation AI algorithms that unlike other tools does not use semantic algorithms to compare individuals’ skills, but relies on a new knowledge graph developed by retrain.ai to measure distances and similarities between the candidate and other people occupying similar jobs.
Sofi’s features include:
- Real time market data about jobs and skills required per job
- Ideal Skill profile for every job description
- Organizational internal data about individuals, translated into skills inventory
- Detection and visualization of skills gap
- Diversity and Inclusion insights
- Ranked pipeline of “Best Fit “candidates for a position, their skills and a matching score
- The ability to create JDs automatically and customize them, with internal organizational data
- Potential career pathways for individuals, based on capability and skills analysis
- Costs of hiring and learning and development plans per career path
“We live in a rapidly changing world, and it has become impossible for any modern organization to manually manage the skills gap,” said Dr. Shay David, co-founder and CEO of retrain.ai. “Many large employers are undergoing digital transformation, and along with the technology backbone they are now focusing on workforce readiness which is a huge challenge.”
Sofi is the leading solution that analyzes and optimizes talent management for the constantly evolving skills requirements. By merging external market data from millions of job postings, global skills and occupational data sources and combining it with government statistics and data from public and private organizations, we’ve created the largest worldwide HR data platform.
Sofi provides the most granular, robust and comprehensive data about the job market and helps CHROs and business line leaders gain visibility into their workforce inventory of skills, future emerging skills, and industry benchmarks. The platform then matches external talent to positions and existing employees to internal career opportunities and learning pathways, while attaining DE&I goals”.