EY India has acquired an artificial intelligence backed human resource technology startup Spotmentor Technologies. The company, however, did not disclose the financial transaction involved in the deal.
Spotmentor Technologies, engaged in the corporate skill development and redevelopment space, has been launched by four Indian Institute of Technology-Kharagpur alumni.
This acquisition will help EY India to add artificial intelligence and machine learning in its product offering. All major consulting firms including the big four firms-EY, PwC, Deloitte and KPMG-are eyeing to get into the management consulting space which is currently dominated by major players like McKinsey, Bain Consulting, AT Kearney and BCG.
Spotmentor Technologies is a Gurugram-based HR Technology company that assists organisations, industry bodies and HR consulting companies to drive skills management and employee learning cycles through the use of AI-powered technologies. The company uses insights derived from unstructured data on jobs, people performance, and capabilities to identify skill gaps for each employee, after which it searches for the best possible learning content on the web create suitable learning plans, and then calculates the effectiveness of learning programs and their business impact - all through its 3 patent-pending algorithms.