The rate of advancement in the human capital management (HCM) technology sector has been increasing exponentially. In order to track the players and their innovations, HRO Today and Alexander Mann Solutions have partnered to release quarterly reports that summarize trends, funding initiatives and other activities that support product innovation in HR.
During the third quarter of 2018, 49 major announcements in HR technologies were made, down slightly from the 57 recorded in Q2. The majority of these announcements (34) came out of North America, with 10 from EMEA and 5 from APAC. While many of these announcements were related to funding for technology start-ups or other small organizations, larger companies, such as ADP and CareerBuilder, made moves as well.
Three areas of technology development with particularly high levels of activity were: mobile capabilities, Artificial Intelligence (AI), and platforms that facilitate communication between employers and employees/candidates.
In what ways will these technologies impact the future of HR? Click here to download the report and find out.