U.S. Patent Office Validates RiseSmart's Innovation in Outplacement with Broad Technology Patent
The United States Patent Office has granted RiseSmart, the leading provider of career transition services, a patent for ontology development for profile matching, the innovation powering the company's sophisticated SmartMatch engine.
Visit http://bit.ly/2lMrXvR to know more.
- (1888PressRelease) February 28, 2017 - The United States Patent Office has granted RiseSmart, the leading provider of contemporary career transition services, a patent for ontology development for profile matching, the innovation powering the company's sophisticated SmartMatch™ engine. RiseSmart's Patent No. 9,558,271 validates the originality of RiseSmart's invention: bringing a human-like understanding of skills, work experiences and job preferences with relevant employment opportunities to help outplaced employees achieve job landing rates 60% faster than the national average.
Unlike tools from traditional outplacement firms that rely on third-party job feeds based on keywords, RiseSmart's semantic matching technology understands concepts and context to infer deeper meaning and comprehension of an employee's profile and job opportunities. For example, RiseSmart's ontology is able to understand the relationship between "Java Script" and "locomotive" (a web framework) and disambiguate between "locomotive" and a "rail vehicle." The human-like understanding of a job seeker's needs ensures that no opportunity is overlooked, while delivering highly personalized results in a matter of seconds.
RiseSmart's ontology is made up of hundreds of thousands of words and classifies millions of job titles into the correct level, functionality and industry. The ontology works in tandem with the company's service delivery teams and has matured over the past 10 years with the analysis and addition of new profiles, jobs, feedback from RiseSmart's team of professional job concierges (JCRs) and customers. Today, RiseSmart's patented technology is available in multiple languages.
San Jose-based RiseSmart helps companies and their employees during times of workforce reshaping or restructuring. The company combines its patented matching technology with one-on-one coaching from career and branding experts to help transitioning employees explore career options, pinpoint tailored job openings, develop their personal brands, prepare for interviews and negotiate an attractive job offer.
"Traditional outplacement providers, who have been longstanding proponents of delivering outplacement services via office space are finally realizing that technology-supported outplacement is the way of the future. Unfortunately, it's not as simple as adding a chatbot," said President and CEO Sanjay Sathe. "The adept combination of innovative technology working in harmony with a personal touch is what has enabled us to rapidly garner market share and deliver unprecedented results to our customers and impacted employees alike."
"No other technology patent of this kind has ever been granted in the outplacement industry, that we're aware of," said RiseSmart's VP of Engineering, Vikash Chauhan. "We're proud to develop a semantic matching technology that so closely mimics human understanding and gives users direct access to tailored job opportunities."
For more information about RiseSmart SmartMatch™, visit http://bit.ly/2lMrXvR
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