Oracle launches AI-powered human capital management solution

Oracle launches AI-powered human capital management solution

Oracle today unveiled a new artificial intelligence (AI) solution that assists organizations in better understanding, managing, and building the workforce skills of their employees. The aim of Oracle Dynamic Skills is to offer HR and business leaders a comprehensive view of the workforce’s skills so that they can cultivate their workers’ abilities. Human capital management (HCM) is one of the tools found in the Oracle Fusion Cloud’s HCM suite.

AI is used to assist employers in compiling an up-to-date list of their employees’ existing skills. Oracle claims that by comparing the words and phrases that employees use to describe their skills to a database of skills that are globally similar, the software helps employers locate a wide range of candidates both inside and outside the company to fill open positions.

In addition to recording people’s job titles, abilities, and job-related experience, Dynamic Skills maintains a record of people’s skill data, including such details as who has what type of job title, who possesses which set of capabilities, and who is strongest in which skills. According to the company, this data will enable HR to develop career development plans and promote job growth.

Dynamic Skills includes:

A database of comprehensive records called Skills Nexus that empowers companies to keep an up-to-date picture of employee skill sets across their organization’s workforce. Combining publicly available data with information from within the organization, the company uses AI to assign skills to roles.

A system called Skills Advisor that uses artificial intelligence to recommend which skills workers should learn to enhance their careers, which positions employers should seek to fill, and which job candidates possess the required skills.

Skills Center is a customizable portal where staff members can update their skills, look for new roles, and explore learning resources to keep up to date on their skills.

Many employees are rethinking their careers and whether they will even return to the office, which is the perfect time to roll out the tool.

“We have emerged from the outbreak to find a rather interesting economic landscape. Many people had time to consider new career opportunities while they were on lock down. With this added pressure, it’s a challenge for companies and HR leaders to double down on their efforts in both recruitment and retention. It doesn’t matter whether their strategy is or isn’t centered around skills; the foundation of it should revolve around those concepts “According to research conducted by IDC, Lisa Rowan, a research vice president for HR software and services, had this to say about the new service.

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