SkyHive Solidifies Leadership of the World’s Skills Data Market with Groundbreaking Patent
IP covers use of machine learning to generate skills
PALO ALTO, Calif., December 1, 2022 – (BUSINESS WIRE) – SkyHive®, the pioneer of Quantum Labor Analysis® for the rapid reskilling of workers and communities across the globe, today announced that the U.S. Patent and Trademark Office (USPTO) has issued U.S. Patent No. 11,164,153 titled “Generating Skill Data Through Machine Learning.”
The groundbreaking and broad patent awarded to SkyHive means that SkyHive has patented the intellectual property that 1) automates job taxonomies and skill ontologies to the real-time labor market; 2) automates normalization of the real-time labor market job taxonomies and skill ontologies to any other system; and 3) uses machine learning to generate skills. “We are the only technology in the world that can harmonize skills and jobs between two separate systems, as well as from the labor market,” says SkyHive Co-Founder and CTO Mohan Reddy. “This will help us rapidly increase our effort to reskill, upskill, and democratize the labor market. It recognizes us as the leader in using artificial intelligence for skills data.”
Organizations are moving to a skills-based approach to managing the entire employee lifecycle, making hiring and talent management more reliant on skills and less reliant on credentials, pedigree, or people’s networks. SkyHive’s new patent provides the foundation for this skills-based approach, allowing organizations to remove bias and develop a talent architecture, make compensation plans, and provide internal mobility to employees based on the changing skills needs of the real-time labor market.
SkyHive also holds the patent for a “Job Description Generator for Unbiased Skills Intelligence.” This U.S. Patent No. 11,373,146 removes the need for writing traditional job descriptions and automates job description creation by using a combination of machine learning and statistical analysis of job-related data.
The two patents are enabled by SkyHive’s skills knowledge graph, the world’s largest, which includes trillions of labor market-related relationships. This knowledge graph provides companies, governments, educators, and other organizations with highly accurate labor market information, as well as the ability to retrieve skills-related data quickly and without bias.
“SkyHive continues to roll out new applications for a growing, global audience of public and private sector organizations,” Reddy says. “We are helping these organizations transition their workforces and labor economies from job-based to skill-based norms, thereby preparing them for the rapid changes associated with the future of work.”
"Labor economists have traditionally relied on static views of the labor market that are unable to change with the market’s more fluid dynamics, or factor in the myriad implicit and explicit signals required for an accurate picture of skills,” adds Sean Hinton, Founder and CEO of SkyHive. “By automating talent architectures, resequencing datasets, and recalibrating how an individual’s skills are analyzed in an accurate and unbiased way, we are bringing greater efficiency to the labor market and reaffirming SkyHive’s role as the human capital operating system for organizations and communities around the world.”
Recognized by Forbes and the World Economic Forum for its positive impact on labor economies, SkyHive processes more than 24 TB of raw data every day, including anonymized worker profiles and job descriptions from over 180 countries. The technology is industry agnostic, and users span from factory floor workers through the C-Suite. SkyHive data is fully encrypted, and its systems are compliant with GDPR, SOC, ISO 27001, Ethical AI, and other regulatory frameworks.
SkyHive is a Certified B Corporation and software provider of global workforce intelligence technology, optimizing labor market efficiencies in real-time for companies, communities, and national economies. Leading enterprises use SkyHive’s cloud-based applications and platforms to power the future of work at its most granular level: skills. SkyHive’s Quantum Labor Analysis™ has been recognized by the World Economic Forum and Forbes for leading efforts in ethical AI and its positive impact on labor economies worldwide. For more information, visit www.skyhive.ai.
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