Korn Ferry Launches AI-Powered Intelligence Cloud

Rhea-AI Summary

Korn Ferry (NYSE: KFY) has launched the Korn Ferry Intelligence Cloud, an AI-enabled talent analytics platform aimed at enhancing talent acquisition and management. This platform integrates labor market data with clients' HRIS data to tackle workforce shortages. It provides real-time insights for strategic talent decisions and helps design future workforce blueprints. The initiative emphasizes optimizing talent management to maintain a competitive edge and accelerate talent mobility.

Positive

• Launch of the AI-enabled Korn Ferry Intelligence Cloud enhances the company's digital footprint.
• Integration of extensive data sources increases accuracy in talent acquisition and management.
• Helps organizations address critical talent shortages and align HR strategies with business needs.

Negative

• None.

New Analytics Platform Brings Talent and Business Strategies Closer Together

LOS ANGELES--(BUSINESS WIRE)-- Korn Ferry (NYSE: KFY) is expanding its digital footprint with the launch of Korn Ferry Intelligence Cloud, a new AI-enabled talent analytics platform.

This HR technology combines data-driven insights with Korn Ferry’s world-class consulting expertise and IP. Intelligence Cloud helps solve the challenges of acquiring, managing and mobilizing the right talent and skills—now and in the future.

“Intelligence Cloud builds on Korn Ferry’s 50-plus years of consulting expertise and insights,” said Byrne Mulrooney, CEO of Korn Ferry Digital. “When combined with labor market data and our clients’ HR information system (HRIS) data, the platform helps clients better understand and act on today’s talent shortages and design talent strategies for the workforce of tomorrow.”

Intelligence Cloud’s AI-enabled digital apps help organizations gain a clearer, real-time picture of their workforce. With this holistic view, they can model how the environment might change, and map the actions needed to reach their business goals.

Intelligence Cloud advances traditional HR data with a greater depth of insight and guidance, which helps uncover and develop the talent and skills organizations need. It’s also vital for creating a talent blueprint—the organization’s best possible design of its future workforce.

“Today, with so many people on the move, shortages of skills and talent are rapidly becoming business critical,” Mulrooney said. “CHROs need a single, accurate source of insight to guide decision-making and bring talent strategy and business strategy closer together.”

With Intelligence Cloud, CHROs and their HR teams can align strategy with business needs to:

• Ensure talent acquisition and strategy are focused on tackling today’s talent and skills shortages while getting ready for the future of work
• Optimize talent management to find and close talent and skills gaps, and gain a competitive edge
• Accelerate talent mobility with career paths that help to retain people who are critical to success and by nurturing the “rising stars” within the organization.

Intelligence Cloud features Korn Ferry’s Success Profiles, which are essential building blocks for benchmarking potential and performance. With embedded intelligence that includes more than 4,000 roles, Success Profiles use real-time data and insights to validate what top-tier talent looks like. Success Profiles help organizations identify talent and skills gaps and guide them on how best to acquire and develop talent.

About Korn Ferry Intelligence Cloud

The Korn Ferry Intelligence Cloud is AI-trained using external market intelligence and 4 billion Korn Ferry datapoints on work structures, roles and employees’ skills and motivations. It’s based on 70 million assessments and rewards data for 26 million people at 25,000 companies in more than 150 countries, plus engagement data on 8 million employees and more than 700 companies in a normative database. This high volume of aggregated data informs the AI, increasing the accuracy of the modelling to turn insight into action.

About Korn Ferry

Korn Ferry is a global organizational consulting firm. We work with our clients to design optimal organization structures, roles, and responsibilities. We help them hire the right people and advise them on how to reward and motivate their workforce while developing professionals as they navigate and advance their careers.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211215005363/en/

Tracy Kurschner

Tracy.kurschner@kornferry.com

612.309.3957

Source: Korn Ferry

FAQ

What is the Korn Ferry Intelligence Cloud?

The Korn Ferry Intelligence Cloud is an AI-enabled talent analytics platform designed to enhance talent acquisition and management by providing real-time insights and data-driven strategies.

How does the Korn Ferry Intelligence Cloud help with talent shortages?

It integrates labor market data with clients' HR information, enabling organizations to better understand and address current talent shortages.

What is the significance of the data used in the Korn Ferry Intelligence Cloud?

The platform uses data from 70 million assessments and over 4 billion Korn Ferry datapoints, enhancing the accuracy of talent insights and strategies.

When was the Korn Ferry Intelligence Cloud launched?

The Korn Ferry Intelligence Cloud was launched as announced in the press release dated December 15, 2021.

What benefits does the Korn Ferry Intelligence Cloud provide to organizations?

It helps optimize talent management, close skills gaps, and accelerate talent mobility, aligning HR strategy with business needs.