On Friday, the Labor Department reported that U.S. unemployment hit 10.2% in July.
And the number of underemployed workers – people who have a part-time job and want more work – sits at a troubling 16.5%.
Both numbers are alarming. But no number is uglier than the 33% drop in GDP that we saw in the second quarter.
Now, I want to ask you a very simple question.
Who do you think is going to help Americans get back to work and boost GDP for the long haul?
Now that we’ve gotten that laugh out of the way…
Let’s be serious.
You’ve heard me say it before, but when there’s a problem to be solved, it usually comes down to one simple solution.
Entrepreneurs have a damn good reputation for building machines that solve the greatest crises that we face.
And even something as big and scary as massive unemployment is no exception.
That’s why the Boardroom listened to one tech entrepreneur’s pitch this week about her solution to getting people back to work.
And after we heard about this startup’s unbiased, AI-powered, job matching platform that instantly matches, ranks, and scores applicants to jobs…
The Most Exciting “Niche Pitch” We’ve Ever Seen
Now, we know that AI is going to transform the American economy forever. But too often we only hear about the billions if not trillions that the market is poised to generate.
But sometimes, if you really want to make money, you have to think about the Niche of an industry that too many people overlook. So, we’re looking for a pitch in “a niche.”
And we’re talking about an untapped industry that might be worth a half billion within seven years.
And we want to find a company that already has inroads with major technology companies with revolutionary AI technology.
So, what about a company that not only has partnered with IBM, they actually created technology that BEAT Big Blue’s “IBM Watson” at the task of matching job applicants with the right job.
This is a company that develops technology for what every single CEO and HR department wants.
The ability to match the right person with the right job (it’s literally like finding a needle in a haystack), and can analyze an untold amount of data to reach its conclusions in THREE SECONDS.
Seriously. As the owner of a company, I didn’t just want to invest in this company, I wanted to use it to help my organization grow.
There’s no bigger endorsement than this.
Join us, see the pitch, and then make a decision for yourself. But I’m confident that this is the type of company that will absolutely blow your mind.
You know that we’re facing a serious problem in America.
Unemployment is at 10.2%. GDP growth just plunged nearly 33%.
We’re in a pandemic right now. We lost one decade of job growth in eight weeks.
That’s been awful for most companies in America.
But not for one little startup that we are profiling to members of The Boardroom AND Boardroom Spotlight buyers.
The company we’re profiling this week created unbiased, AI-powered, job matching platform that instantly matches, ranks, and scores applicants to jobs.
Now, that sounds like a lot of buzz words.
But let me just cut to the chase.
Demand for this startup’s services is up a staggering 1,400% since March.
Not only are millions of people looking for work, enterprise companies are desperate for solutions that can diversify their workforces and hire new people within months.
Now – most job boards in Indeed or LinkedIn just arbitrarily match people to jobs. And they do a terrible job at it.
This little startup uses Artificial Intelligence to match individuals in 48,000 different job types.
And they do it by targeting people who didn’t apply for specific jobs at specific points.
There is a massive oversupply of workers in the job market today.
But getting the RIGHT person for the RIGHT job is EXTREMELY important to any company’s bottom line.
Never before has that challenge been so difficult.
A Needle in a Haystack
On average – this startup’s clients report that its clients average 1,200 applicants per job posting.
Yet only 2% to 4% of applicants were qualified BEFORE the pandemic.
Now, it’s less than 1% after the pandemic.
This is why the cost to actually replace an employee averaging $45,000 a year costs about $15,000.
It takes an entire week to just get through resumes, screen applicants, and set up interviews.
And that’s all with the basic challenges of human bias that create countless problems and overlook candidates.
Well, this startup removes all of that work – completes 40 hours
of work – in LESS THAN THREE SECONDS.
And it eliminates bias in the process, perhaps the single greatest issue with human screening of applicants.
This is an untapped area of information technology that could easily be worth billions in the decade ahead.
AI in the Workplace
Now, you probably know a lot about the importance of artificial intelligence. And it’s very lucrative.
When it comes to hiring, machine learning and problem solving can identify the best candidate for the job without bias.
But there’s MUCH more to this technology. That’s why some of Silicon Valley’s top tech companies are joining the gold rush in this niche in the industry.
- AI recruitment technology improves applicant tracking and uses data analytics to improve future recruitment practices. So, if a company has been writing job posts with the wrong keywords or data points, AI can turn around and make quick recommendations to help improve future postings. This can help reduce costs of compliance and posting across job boards around the world.
- AI can help identify much more than what’s on just a piece of paper. After all, an applicant typically has to put their entire life on one single sheet. But AI can track across the entire internet to learn more about the applicant – including their interest, social causes, and other potential things they have done that might qualify them for a role.
- AI is a lot like Santa Claus as well. It knows if candidates have been naughty and taken liberty with their resumes. It can track to find out if they have changed the roles on their resume elsewhere or been “too liberal” with the truth about their experience. This is a huge problem in corporate America, and it can save companies millions by ensuring that people have the skills and experience that they claim.
- The same thing goes with “Trust.” In today’s world, more and more people will be working remotely, and AI can vet peoples to determine if they will be good representatives of the organization.
So, when I look at this – and I’m already running a big company – I WANT THIS PRODUCT.
And if I want it – because I know it’s going to help me find the right people, with the right skills, and I can trust them – yes. I’m on board with this AI startup.
The Right Hire, the Right Startup
This company’s technology is SO POWERFUL that it actually beat IBM’s Watson at its own intelligence game.
They immediately partnered with this company. I’m telling you, it’s simply that powerful and potentially lucrative.
Given the expected growth in the global artificial intelligence (AI) recruitment market, we see this as a significant takeover target, especially with Big Blue lining up to partner with them.
The sector is expected to grow from 2020 at an annual growth rate of 7.6% to hit $388 million by 2027.
And this could easily be the company that captures the bulk of the market share.
With massive enterprise companies and government contractors signing up at a breakneck pace, the firm sees significant revenue potential.
With new deals on the table, they’re on pace to bring their annual revenue up to almost $5 million in just a few months.
By 2022, they expect that the revenue will increase to more than $15 million.
And that’s just the tip of the iceberg.
See it for yourself. It is a tremendous story.