Periodic Reporting for period 1 - WINNING (Emotional and Social Intelligence Analysis Advanced Solution for Business Performance Improvement)
Berichtszeitraum: 2018-11-01 bis 2019-02-28
Employees can either make a company break or succeed. The most important capital for any organization is, without question, Human Capital: “a measure of the skills, education, capacity and attributes of employees which influence their productive capacity and earning potential”.
Companies spend €460 billion every year in the challenging mission of acquiring the right talent. Additionally, with the intent to improve their Human Capital, €316 billion are invested in employees’ training and self-development. However, due to the actual constraints and inefficiencies, organizations waste €310 billion every year. The perfect job-candidate match is the only alternative that ensures employees wellbeing at work and result in a long-term productive relationship. But companies fail to do so almost 50% of the times.
The cause: performance and human potential have been measured through static methods that are highly influenced by human bias, such as psychometric tools and interviews. There is a lack of intelligent solutions that could analyze and report on behavioral insights from business interactions systematically and objectively in real time and context.
Winningminds is an Artificial Intelligence web-based solution designed to record and analyze conversations in business environments. The output is a report on individuals’ soft skills such as: communication, creative thinking, problem solving, self-management, response strategy, assertiveness, risk aversion/tolerance, self-control, stress, fatigue levels, and other business-relevant indicators. Our solution is conceived to accompany employees along their career path, but it is also an effective tool for companies to invest effectively on their Human Capital creating a significant competitive advantage.
Companies spend €460 billion every year in the challenging mission of acquiring the right talent. Additionally, with the intent to improve their Human Capital, €316 billion are invested in employees’ training and self-development. However, due to the actual constraints and inefficiencies, organizations waste €310 billion every year. The perfect job-candidate match is the only alternative that ensures employees wellbeing at work and result in a long-term productive relationship. But companies fail to do so almost 50% of the times.
The cause: performance and human potential have been measured through static methods that are highly influenced by human bias, such as psychometric tools and interviews. There is a lack of intelligent solutions that could analyze and report on behavioral insights from business interactions systematically and objectively in real time and context.
Winningminds is an Artificial Intelligence web-based solution designed to record and analyze conversations in business environments. The output is a report on individuals’ soft skills such as: communication, creative thinking, problem solving, self-management, response strategy, assertiveness, risk aversion/tolerance, self-control, stress, fatigue levels, and other business-relevant indicators. Our solution is conceived to accompany employees along their career path, but it is also an effective tool for companies to invest effectively on their Human Capital creating a significant competitive advantage.
Our engineering team analyzed the technical feasibility of Winningminds and its core components. That includes all emotional and cognitive KPI development and its implementation in the software application (TRL9); setting desired specifications of the solution, standard compliance and future O&M costs. A risk assessment for all technical tasks was performed, together with suggested mitigations or contingency plans to respond effectively to clients’ demands. The project proved feasible from a technical point of view.
Our due diligence included a market research of AI applied to HR needs and efficiency, as well as neurolinguistic tools and its usage in corporate environment. We included a SWOT and PESTEL analysis, and detailed freedom-to-operate analysis (FTO). We also generated financial projections and dissemination actions including a plan of neuroscience and HR events attendance. The project proved profitable and we decided to apply for SME instrument Phase 2.
Our due diligence included a market research of AI applied to HR needs and efficiency, as well as neurolinguistic tools and its usage in corporate environment. We included a SWOT and PESTEL analysis, and detailed freedom-to-operate analysis (FTO). We also generated financial projections and dissemination actions including a plan of neuroscience and HR events attendance. The project proved profitable and we decided to apply for SME instrument Phase 2.
The development of a solution that measures employees’ competences and team effectiveness is particularly complex. Identifying indicators such as risk attitude, problem solving, mental agility or assertiveness in meeting audio recordings and relating them to employees’ behavior, requires the development of valid and accurate prediction models. Unlike other available solutions in the market, our solution can identify and measure employees’ skills accurately. We combine the latest advances in AI with thorough scientific research on the emerging fields of collective intelligence, neurolinguistics, and performance modelling. This approach gives us a competitive advantage among existing solutions built only around psychology researches. Such solutions identify merely basic emotions, frequency of keywords, and other quantifiable characteristics with very little business relevance.
The fourth industrial revolution is transforming industries and business models, changing the skills that employers need and shortening the shelf-life of employees’ existing skills. The workforce change is such, that 65% of children entering primary school today will ultimately hold jobs that don’t exist today. The ability to prepare for future skills is critical for businesses and individuals and with actual methods we are not able to do so.
The fourth industrial revolution is transforming industries and business models, changing the skills that employers need and shortening the shelf-life of employees’ existing skills. The workforce change is such, that 65% of children entering primary school today will ultimately hold jobs that don’t exist today. The ability to prepare for future skills is critical for businesses and individuals and with actual methods we are not able to do so.