iMocha, a leading SkillsTech platform today launched its Skills Intelligence Cloud, an AI-powered platform to revolutionize enterprise hiring, talent management, internal mobility, and workforce planning processes. This innovative solution provides HR and business leaders with real-time access to skills data across their organization, enabling them to forecast, predict, and effectively address skills gaps to build a future-ready organization.
The launch of iMocha’s Skills Intelligence Cloud comes amidst the rising global call for a skills-first approach to talent shortage. The World Economic Forum’s 2023 Report on Putting Skills First has revealed that over 100 million individuals could directly benefit. The report also estimates that by 2030, a skills gap could leave 85 million jobs unfilled globally, leading to a staggering $8.5 trillion in unrealized annual revenues.
Responding to this demand, iMocha’s AI-powered Skills Intelligence Cloud enables CHROs to develop industry-specific skills taxonomies and ontologies for their organization. By leveraging multi-channel skills validation and AI-inferred models, iMocha empowers organizations to create a workforce for the future.
“Skills are the new currency, and they are also transforming at a rapid pace. For businesses to stay ahead of the curve, they need to harness their organization’s skills data on a real-time basis,” said Amit Mishra, Founder & CEO of iMocha. “By capturing skills data at the most granular level and layering it with AI, our Skills Intelligence Cloud will revolutionize people analytics and skills-gap analysis, empowering enterprises to stay prepared for future and technological disruptions.”
According to Sujit Karpe, the CTO & Co-founder of iMocha, “The Skills Intelligence Cloud empowers CHROs and business leaders to adopt a skills-first approach and is specifically designed for organizations that prioritize continuous learning, employee development, and data-driven decision-making.”
Some of the key benefits that iMocha’s Skills Intelligence Cloud will unleash include:
- Effective talent management, recruitment, and retention strategies with data-driven decisions
- Future proof organization with strategic workforce planning; with a clear understanding of the organization’s skills landscape, HR can strategically plan for future needs.
- Increased employee engagement and retention: by understanding and focusing on the skills of the employees, organizations can create personalized development programmes, leading to increased employee engagement and retention.
- HR can plan training and reskilling programmes more effectively by having a real-time view of an organization’s skills inventory. It gives a comprehensive view of the available skills, skill gaps, demand vs supply of skills, and areas for development.
- Improved hiring efficiency: availability of a clear skills taxonomy and ontology improves hiring efficiency by quickly identifying the skills needed in potential hires. This leads to a shorter time-to-hire and better quality of hires.