Weekly dose of HR Tech Simplified #2
ChatGPT wars, Ant-Man And The Wasp: Quantumania, Olivia, Textio, Metaverse, ChangeEngine
Hi friends 👋,
Happy Friday and welcome back to our second Weekly dose of HR Tech Simplified. This has been one of the most interesting newsletter to write as there is so much happening all around us. There was so much to add but I have tried adding the most interesting pieces.
Now, let’s get to it.
ChatGPT, a generative AI chatbot, crossed 100 million users within two months of its launch. It has garnered everyone’s attention and has led to a flurry of Generative AI tools in the market including Microsoft launching its Bing search engine backed by ChatGPT and Google launching Bard, which failed miserably and took down Alphabet’s stock by almost $100 million. While there is a lot happening in this space, our focus is on HR function.
ChatGPT can significantly impact the HR function, revolutionizing recruitment, training, evaluation, engagement and retention of employees, below are a few examples:
ChatGPT can be used for evaluation of job applications, creating training programs, analyzing employee performance, answering employee queries, etc.
It can also help teams in identifying pay equity issues and providing insights into employee sentiment by learning from the respective data sets.
Olivia chatbot used by McDonalds for automation of its screening, interview and hiring processes.
An HR Tech Startup Confirm has launched a ChatGPT-Powered Solution for Auto-Drafting Reviews Based on Input from Peers and Managers
There is immense opportunity for ChatGPT to ease the burden on HR teams, if used wisely, although it will take some time to realize its full potential.
ZipRecruiter Teams Up With Marvel Studios’ Ant-Man And The Wasp: Quantumania
ZipRecruiter has collaborated with Marvel Studios and has debuted three new commercials showcasing how its platform can help job seekers find their next great opportunity.
The custom spots introduce viewers to a Pym Van Dyne Foundation engineer who landed her dream job working alongside Ant-Man and The Wasp after using ZipRecruiter’s 1-Click Apply feature and AI-powered matching technology.
M&A and Fundraising news
This has been a busy week from a fundraising perspective as multiple HR Tech startups has raised funding. These vary from employee scheduling startups to employee experience platforms. Some of the interesting ones include:
ChangeEngine, an employee experience focused startup, has raised $5.5 million in funding from Struck Capital, Bonfire Ventures, Builders VC, and Forward Partners.
ChangeEngine is a command center for all employee-facing initiatives: a centralized platform for companies to design & deliver the employee moments that matter most. - Andrew Higashi, CEO
ShiftMed, one of the leading W-2 healthcare workforce management markets, has secured $200 million in a round-headed by healthcare investors Panoramic Ventures, with Blue Heron Capital and Audacious Capital also participating. ShiftMed will use the funds to extend its national reach across all areas of the healthcare industry.
QuestionPro, a global leader in online survey and research services, has acquired doopoll, a multilingual, real-time engagement platform. QuestionPro will include doopoll’s capabilities and customers in its complete research and experience management platform, as well as expand its physical presence in the United Kingdom.
Interesting reports
Benedict Evans, an independent technology analyst with a huge following, has come out with his recent presentation exploring macro and strategic trends in the tech industry. Enjoy here
