News

SAP acquires AI-powered human resources platform SwoopTalent

The Transform Technology Summits start October 13th with Low-Code/No Code: Enabling Enterprise Agility. Register now!

SAP today announced that it acquired the intellectual property of SwoopTalent, a platform that automatically connects companies’ talent systems and data for analytics, migrations, and machine learning. As a part of the deal, SAP says it’ll embed SwoopTalent’s technology throughout its SuccessFactors Human Experience Management Suite, providing SAP customers with a view of human resources initiatives including projects, fellowships, internal jobs, mentorships, and learning courses.

People analytics — also known as talent analytics or HR analytics — refers to the method of analytics that can help managers and executives make decisions about their employees or workforce. While people analytics is a new domain for most HR departments, 70% of company executives cite people analytics as a top priority, according to McKinsey.

Founded in 2012 by Satish Sallakonda and Stacy Chapman, San Francisco, California-based SwoopTalent provides a platform powered by natural language processing, AI, and machine learning combines, analyzes, and trains data from disparate human resource systems and workflows. SwoopTalent provides continuously updated view of their people, from skills and capabilities to interests and learning preferences, enabling employers to match employees to internal initiatives, learning courses, and more.

According to SwoopTalent CEO and cofounder Stacy Chapman, the platform’s talent and AI algorithms build profiles of employees by gathering information from different sources, keeping in mind local regulations and the employees’ consent and preferences about the information they’d like to share. Later this year, the profiles will power a new solution that’ll serve up opportunities like recommendations for learning content and assignments, becoming more individualized as the profiles develop.

“Organizations are at a pivotal moment as work is being redefined around agility, purpose and culture,” Chapman said in a statement. “With human experience management SAP has the right vision and strategy to deliver technology that enables individuals to upskill and create a career that aligns to their interests and skills. SAP and SwoopTalent are a great cultural fit and share the same values. We are excited to continue advancing human experience management together.”

Latest acquisition

SwoopTalent is SAP’s newest acquisition following the German firm’s roughly $1 billion buyout of Signavio, a collaborative business process design, management, and analysis company. In 2020, SAP bought omnichannel marketing startup Emarysis, a deal which closed after the firm’s $8 billion purchase of Qualtrics, a platform for creating web surveys.

“Delivering individualization at scale requires a sophisticated, powerful data platform that extends across multiple systems,” SAP SuccessFactors chief product officer Meg Bear said in a press release. “By making workforce data more reliable and accessible, we can help our customers gain powerful insights about their people to effectively upskill, reskill and redeploy talent and future-proof their business. The founders of SwoopTalent are industry thought leaders with proven expertise using data, machine learning and analytics to elevate human resources and make organizations more competitive. We are thrilled to have them join SAP to further our human experience management strategy.”

VentureBeat

  • up-to-date information on the subjects of interest to you
  • our newsletters
  • gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
  • networking features, and more

Source: Read Full Article