Curated Intel from the Talent Tech Industry
January 15-22, 2024:
• Running for President with AI: OpenAI suspends bot developer for creating Dem candidate bot;
• Feeling good about the future: CEOs optimistic as inflation & macroeconomic concerns recede;
• Paying on-demand may be the next big thing: ADP finds 82% of business leaders are interested;
• Hunting in a fierce job market: Job search platform Otta acquired by Welcome to the Jungle;
• Falling prey to the culture wars: Influencers and politicians lead the attack on DEIB programs.
PLUS
Early Bird registrants get deep savings and a spot at LIMITED SEATING TAtech North America & The World Job Board Forum. Avoid FOMO, register right now for the only conference in the North American market that is specifically designed both for job board and talent technology company CEOs, their direct reports and rising stars and to accelerate the bottom-line growth of their enterprises. Why the rush? Because the conference will be held June 4-6, 2024 at The International Spy Museum which has a limited seating capacity and Early Bird Discounts on registration are due to expire shortly. So, register today and accelerate the success your company achieves, today, tomorrow and into the future!
OpenAI suspends bot developer for Democrat presidential candidate Dean Phillips
OpenAI has banned the developer of a bot mimicking Democratic presidential candidate and Minnesota Rep. Dean Phillips. This marks the first move the ChatGPT maker has taken against what it views as a misuse of its artificial intelligence tools in a political campaign, according to a report from The Washington Post. "We recently removed a developer account that was knowingly violating our API usage policies which disallow political campaigning, or impersonating an individual without consent," a spokesperson for OpenAI said in a statement to Reuters. Dean.Bot, powered by OpenAI's ChatGPT, was created by Silicon Valley entrepreneurs Matt Krisiloff and Jed Somers. The two started We Deserve Better, a super PAC supporting Phillips, ahead of New Hampshire's primary on Tuesday. The PAC has received $1 million from billionaire hedge fund manager Bill Ackman, who described his donation as "by far the largest investment I have ever made in someone running for office in a post on X, the platform formerly known as Twitter.
CEO optimism doubles as inflation, macroeconomic concerns recede
CEO optimism is growing as concerns about inflation and economic volatility fall, with the proportion of those who believe global economic growth will improve during the next 12 months more than doubling from 18% to 38% year over year, according to a Jan. 16 report based on PwC’s Annual Global CEO Survey. For instance, 39% of CEOs said they expect their company’s head count to increase by 5% or more in 2024. However, confidence remains fragile around long-term business outlook — 45% don’t believe their company will be viable in a decade without reinvention, which is up from 39% in 2023. “As business leaders are becoming less concerned about macroeconomic challenges, they are becoming more focused on disruptive forces within their industries,” Bob Moritz, global chair of PwC, said in a statement. “Despite rising optimism about the global economy, they are actually less optimistic than last year about their own revenue prospects and more acutely aware of the need for fundamental reinvention of their business,” he said. “Whether it is accelerating the roll-out of generative AI or building their business to address the challenges and opportunities of the climate transition, this is a year of transformation.”
Bolstered by new tech, is on-demand pay now a ‘table stakes’ benefit?
With persistent economic uncertainty, employees are expected to face ongoing challenges in managing cash flow between paychecks. To support the financial wellness of their workforce, employers are increasingly turning to earned wage access tools—also known as on-demand pay—that allow employees to claim their income before payday. This benefit is changing with the times, bolstered by new tech and employee expectations. As these programs become more convenient and accessible, more employers are considering on-demand pay. A recent ADP survey of 600 businesses illustrates that 82% of leaders said they were interested in adopting it. In a recent report from on-demand pay platform Clair, there’s been a 24% lift in average spending per person in the U.S. over the past year. Given the increased demand for cash, 83% of workers Clair surveyed want more frequent payment schedules, such as daily or at least weekly disbursements.
Job search platform Otta acquired by Welcome to the Jungle
We started Otta in 2019 to make job search less soul-crushing, with an incredible candidate-first product. Since then we’ve delivered a lot of impact, including 6 million applications made on Otta in 2023 sent to 10,000 companies. And for our UK companies we’re nearly on par with LinkedIn in terms of the hires we provide. I’m excited for our future within Welcome to the Jungle. They're a leading innovator in employer branding in France, with 350 people working on their mission, and they've raised over €80m to support their growth. We think it’s a great combination culturally, and we share a common mission to build a better future for job seekers. Through combining forces I’m confident we’ll have an even greater impact. At Otta we've always wanted to invest more in helping companies with their employer branding, as we know how much it can help candidates in their search too.
Will workplace DEIB become a casualty of the culture wars?
The backlash to DEI is here and it’s becoming harder to ignore. Prominent US figures including Elon Musk, Bill Ackman and, of course, former President Donald Trump, have vocally and in some cases, vociferously, criticized both the intentions and effects of DEI strategies in professional and personal environments. While it may be easy to shrug off these criticisms as the egos of the rich, white elite that view their positions of power being threatened, it will land true for others and victories for the movement in the US higher education system will only entrench this further. “Elon and his DEI must DIE tweet were just the tip of the anti-DEI iceberg,” Sheryl Miller, founder and director of diversity training consultancy Reboot Global, tells UNLEASH. Miller highlights that Musk’s provocative anti-DEIB statements will resonate with some individuals within the workplace, who may then cite “reserve discrimination” as their reasoning. “Others may attack DEI because they fear that it will result in them (or people like them) losing opportunities they rightfully deserve. Others want to defend freedom of speech which they feel DEI restricts.” Whatever the motivation behind anti-DEIB sentiments, HR leaders must be aware of the ramifications. The ongoing culture wars, stoked by governments and public figures on both sides in the US, Europe and beyond, will likely drive this issue onto the desks of HR leaders sooner rather than later.
Early Bird Gets the Discounts at TAtech North America & The World Job Board Forum
Early Bird registrants get deep savings and a spot at LIMITED SEATING TAtech North America & The World Job Board Forum. Avoid FOMO, register right now for the only conference in the North American market that is specifically designed both for job board and talent technology company CEOs, their direct reports and rising stars and to accelerate the bottom-line growth of their enterprises. Why the rush? Because the conference will be held June 4-6, 2024 at The International Spy Museum which has a limited seating capacity and Early Bird Discounts on registration are due to expire shortly. Whether your company is a niche or general job board, aggregator, talent marketplace, online classifieds business, programmatic platform, chatbot, conversational AI solution, ATS, recruitment marketing solution, CRM platform, interviewing or assessment system or talent technology consultancy, this event will supercharge your sales and your profits. So, register today and accelerate the success your company achieves, today, tomorrow and into the future!