MOUNTAIN VIEW, Calif., Sept. 22, 2020 /PRNewswire/ -- Eightfold.ai, the inventor of the Talent Intelligence Platform™, the first AI-powered solution for enterprise talent needs, has been 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% approval rating, far exceeding the required 80% success threshold.
By analyzing 1.5 billion anonymized resumes and job profiles, including those of 700,000 transitioned service members, Eightfold.ai uses powerful deep learning AI and its proprietary Capability Matrix to match the right individual to the right job based on their fit and potential. This could dramatically improve the experience and outcomes for military personnel and their spouses transitioning to the civilian workforce, providing a clearer vision of an individual's career trajectory based on adjacent skills they possess or perceived skill gaps they can easily address. The goal of the solution is to modernize systems to better connect Veterans' existing and potential skills with employers' needs for more than 200,000 service members who transition annually to the civilian workforce.
"Service members transitioning out of the military have unique skills that can add value to an employer," said Ashutosh Garg, CEO and Co-Founder of Eightfold.ai. "But it is often a challenge for both Veterans and employers to understand the potential career trajectories that map back to these particular skill sets. With our AI-powered technology, we are closing that gap by looking beyond the words on a resume and creating a holistic picture of the skills that transitioning military personnel bring to civilian work."
The latest unemployment rate for Veterans is 8 percent based on data from the Department of Labor. Eightfold.ai's unique Capability Matrix effectively surfaces the untapped skills that make Veterans ideal for open opportunities. Additionally, the company uses Equal Opportunity Algorithms to ensure that personal characteristics such as gender, race, ethnicity, or disability are not considered in the job matching process, preventing any potential bias.
"I have helped Veterans move to civilian roles for the past 20 years and am therefore acutely aware of the unique and untapped skills our armed forces bring to the table," said Don Moore, Eightfold.ai's Head of Military and Veteran Inclusion. "These are some of the most dedicated and talented individuals in our country. As a Veteran of the Air Force, I know how hard it is to transition into the civilian workforce. The Eightfold.ai solution will help the Veteran community, one of the most highly trained groups of professionals in the world, to pursue career aspirations that best meet their capabilities, interests, and potential."
Eightfold.ai® delivers the Talent Intelligence Platform™, the most effective way for organizations to retain top performers, upskill and reskill the workforce, recruit top talent efficiently, and reach diversity goals. Eightfold.ai's deep learning artificial intelligence platform empowers enterprises to turn talent management into a competitive advantage. In April 2020, Eightfold.ai launched Talent Exchange, a place to help all organizations and individuals impacted by COVID-19 to flatten the unemployment curve. For more information, visit www.eightfold.ai.
The Eightfold.ai name, and all related names, logos, product and service names, designs, and slogans are trademarks of Eightfold AI Inc. or its affiliates or licensors. You must not use such marks without Eightfold.ai's prior written permission. All other names, logos, product and service names, designs, and slogans appearing herein are the trademarks of their respective owners.