magneta world staffing and talent acquisition company based in San Francisco that has evolved from several acquisitions over time, has introduced a brand new AI-powered integrated workforce management platform and assistant for HR managers, it calls it “Maggi” (pronounced like “Maggie”), which it describes as First of its kind within the workforce management industry.
The aim is to enable HR managers from other HR service providers and client firms to access data, recruitment and HR management tools via a single interface. Ultimately, this can make it much quicker and easier to rent employees, especially for seasonal and temporary positions, than before.
“We wanted to herald technology and automation to simplify the complexity and manage the contingent workforce,” explains Vidhya Srinivasan, Chief Product & Marketing Officer at Magnit, former Head of Marketing at ServiceNow and SVP at supply chain management platform Blue Yonder.
“Whether it's the hiring managers or the vendors who’re bringing the talent in, they're all used to the very manual way of coping with technology,” she added. But Magnit's goal is to usher them into the age of generative AI with an assistant that may live in a chatbot window but is way over your average copilot or chat interface with a big language model (LLM), in keeping with Srinivasan.
This give attention to automation and intelligence is central to Magnit's approach, which goals to reduce inefficiencies and improve results.
Key features of Magnit’s recent AI-powered platform
The underlying intelligence behind Maggi and Magnit's Integrated Workforce Management (IWM) platform is OpenAI's GPT-4, in keeping with Srinivasan.
“It’s linked to our data sets, which include customer data, public sources, and curated industry data,” the CPO/CMO explained in an interview with VentureBeat a number of days ago.
According to Srinivasan, the updated Magnit IWM platform relies on “three areas”: “executing on a regular basis tasks, informing through proactive and reactive alerts, and planning.”
First, let's take a look at implementation: Magnit's recent software platform allows HR managers, suppliers and employees to interact with the identical system, allowing them to share data on talent that matches job descriptions without silos.
It ensures that firms can recruit and manage talent from different sectors, including blue-collar, white-collar, expert and unskilled, in addition to mixed workforce needs – all through a single platform.
When it involves “proactive alerts and planning,” Magnit provides notifications on updates to local laws and regulations.
“If there’s a brand new labor regulation in a rustic where you use temporary employees, Maddie can inform you reactively or proactively,” Srinivasan said.
A brand new “motion system” automates workflows in recruiting, onboarding, payroll, compliance and more.
When it involves planning, users can now leverage Magnit’s vast “data ocean” and AI/ML capabilities and incorporate a client’s goals to seek out a solution to achieve them.
“If a customer wants to begin a brand new program in a brand new region or expand an existing program to a brand new country, Maggi can create a plan template,” Srinivasan explained.
In terms of analytics, Magnit claims that its system provides clients with deep, data-driven insights into pay rates, market trends and candidate profiles, ensuring cost savings and increased competitiveness.
“Maggi gets market pricing, looks at customer data and provides the hiring manager what they need, whether it's talent pools or specific job descriptions. They don't must fill in 40 fields – Maggi does that,” Srinivasan added.
Results-oriented
The AI-driven platform is designed to deliver measurable results quickly.
It also provides a compliance framework, reducing the risks related to payroll and hiring missteps.
Finally, by leveraging a broad range of sourcing channels, firms can scale their access to highly expert talent.
“Our approach goals to resolve certain pain points within the hiring process. If Maggi doesn't improve the on a regular basis experience, people won't use it. It's about constructing trust within the platform and keeping people loyal to it,” said Srinivasan.
As for pricing and availability, Srinivasan told VentureBeat that the corporate is offering the AI platform and Maggi through “an early adopter program” for now and is attempting to “determine if there's a base and a plus model that we’d like to supply.”
Currently, the AI platform and Maggi are bundled with Magnit’s current Integrated Workforce Management Platform.
Where Magnit got here from
Magnit, formerly often known as PRO Unlimited, is a 33-year-old company that Renaming in 2022 after the takeover by EQT Private Equity.
The company was founded to “help large firms manage their temporary workforce so that they can higher attract professionals on the lookout for more flexible work solutions,” in keeping with a press release announcing the acquisition.
The company also acquired the Workforce Logiq in 2021 and its “teams dedicated to data science and development.”
