Artificial intelligence (AI) has the ability to match job opportunities with the capabilities of candidates for the job. Also, it eradicates hectic tasks of matching resumes and requirements manually and more efficiently assigning the jobs and decreasing unemployment. According to an article by Forbes, “There are around 16.8 million unemployed people in America today.”
Talent Exchange Program
U.S. Department of Labor data report shows that, “1/10 Americans is out of work today”. The unemployed people are mostly from influenced industries like travel, retail & manufacturing, food and trade services etc. An article by McKinsey & Company’s, “A new AI-powered network is helping workers displaced by the coronavirus crisis” delivers a set of frameworks for the future circumstances of the unemployed gap in the market. McKinsey, FMI – The Food Industry Association and Eightfold.ai, together are working and making efforts for “The Talent Exchange”. This program will allow the organizations to have a platform that will completely understand the requirements and match the right people with the vacancy.
According to Talent Intelligence and Management Report by Eightfold.ai, “73% of CEOs and CHROs said, they couldn’t find enough qualified candidates”. Moreover, Andrew Davis (McKinsey Partner) said, “In talking with clients across the U.S, it became very clear that there is a huge labor mismatch. In addition, individuals are being affected very differently. Also, retailers furloughing tens of thousands of workers to other organizations needing to hire more than 100,000 workers quickly. We’re excited to help bring a scalable offering to the market”. Nonetheless, McKinsey, FMI – The Food Industry Association and Eightfold.ai, are carrying out joined actions to fight unemployment in the current critical times of COVID-19.
Getting Americans Back To Work Using A.I.
Eightfold.ai launched its Talent Exchange in the 2nd week of April and had 600,000 jobs posted by the employers. Not only this, but additionally, these jobs are available in 15 different languages. Eightfold.ai services are free of cost to create an ease in these difficult times of pandemic. This “Talent Exchange Program” is also moving towards other industries like ecosystem etc. Eightfold, FMI and Josh Bersin held a webinar “COVID-19: Helping the food industry on the front lines with A.I”, which elaborates Talent Exchange Program in detail. Hence, following visual by Eightfold.ai shows the approach towards, affected companies, individuals and overall unemployment situation;