Payroll and human capital management (HCM) firm ADP is networking with its partners to enhance the industry with artificial intelligence (AI) and machine learning.
The company said in a press release on Monday (June 25) that it held its second annual Datathon at ADP event, which included more than 40 of its partners and innovators to collaborate on how to leverage AI and machine learning. ADP already uses data analytics to take advantage of information on more than 30 million employees at companies using ADP solutions.
The Datathon, ADP explained, focused on exploring new ways to use that data, with three solutions emerging as a result.
Those new tools focused on talent optimization, user experience and business impact. The talent optimization technology correlates educational experience and career outcome to support recruiters. The user experience solution provides a 401(k) benchmarking service to help employees manage retirement accounts, while the business impact tool provides employees with a digital career coach to reach their professional goals.
“Our first Datathon was about testing the speed and process by which we can leverage our world-leading HCM database, which compiles proprietary data from over 90,000 clients,” said ADP Chief Data Scientist Marc Rind in a statement. “This time around, we brought in partners from across ADP to explore their needs and ideate on comprehensive solutions. We gathered the industry’s greatest innovators for two weeks of end-to-end development and will ultimately be able to deliver unmatched value to our clients as a result.”
Earlier this year, ADP acquired WorkMarket, a company that helps businesses support a range of employees, including full-time, part-time and freelancers. At the time, ADP pointed to research that found 80 percent of businesses in the U.S. currently employ at least one independent contractor, while analysts expect reliance on contingent workers to grow.
In March, ADP collaborated with Ingo Money to develop the ADP payroll card.