Company: EY, New York, NY
Nomination Submitted by: EY Skills Foundry
Company Description: As an end-to-end, AI-powered learning managed services platform, EY Skills Foundry helps build and shape skills-based organizations. We focus on creating a tailored and ongoing learning lifecycle for every employee. Skills Foundry transforms organizations by mapping the size and shape of their skills gap, developing the skills needed to close the gap, and moving talent where it belongs.
Nomination Category: New Product & Service Categories - Business Technology
Nomination Sub Category: Corporate Learning/Workforce Development Solution
 Nomination Title: EY's Skills Foundry
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the nominated new or new-version product or service, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: If this is a brand-new product, state the date on which it was released. If this is a new version of an existing product, state the date on which the update was released:
In March of 2020, we embarked on a journey to create a solution to address the ever-widening skills gap. At the time, the World Economic Forum projected 375 million individuals needed to be reskilled by 2025, driving a potential $11.5 trillion GDP loss if the skills gap persists. Through rigorous rounds of market testing and MVP launches, we've refined our approach to best solve the problem at hand. In February 2023, we launched EY Skills Foundry – a product based, AI-rich solution that helps our client’s create skills-based workforces at scale.
- If you are providing written answers for your submission, you must provide an answer to this second question: Describe the features, functions, and benefits of the nominated product or service (up to 350 words):
Total 344 words used.
EY Skills Foundry is an end-to-end, AI-powered learning managed service platform that helps build and shape skills-based organizations. New skills are always emerging, and EY Skills Foundry enables learners to develop the skills required to succeed in their current and future roles. We do this by 1) mapping the size and shape of your skills gap, 2) developing the skills teams need; and 3) moving talent to where it belongs.
Our product is comprised of the following features:
Skills Benchmark: Uses millions of data points across sectors, job families, and job levels to identify the skills and proficiencies required to succeed in every role. Benchmark data is constantly curated to ensure skills and jobs remain current.
Skills Framework Studio: Automatically maps the results of the Skills Benchmark to jobs using AI and machine learning. Provides all the tools required to build a fit-for-purpose Skill Framework and Job Taxonomies.
AI Co-pilot: Automatically creates and defines new jobs and success profiles along with skill descriptors to highlight any further talent gaps.
Inference-Based Skills Assessment: Delivers a clear and accurate skills gap analysis across the entire organization; using AI to identify focus areas for skill development down to proficiencies at an individual level.
Learning Intelligence: Maps a client’s asynchronous learning content to address the skills gap. AI powers our tool to ensure only the most relevant content is being presented to learners.
Launchpad: Eliminates the confusion of what learning content helps people bridge the gap between the skills they need and the skills they have. Using our AI recommendations engine, content is constantly curated and mapped to the learner's employment journey to account for shifts in skills requirements and proficiency levels.
Skills paths and content: Based on the output of the Skills Framework and identified skills gaps, our skills paths combine content from four revolutionary sources: 1) a client’s existing content mapped and optimized to address their skills gap, 2) a vetted catalog of over 100,000 third-party courses, 3) our structured courses across 31 high-demand domains, and 4) custom, AI-generated bespoke learning creation on any topic.
- If you are providing written answers for your submission, you must provide an answer to this third question: Outline the market performance, critical reception, and customer satisfaction with the product or service to date. State monetary or unit sales figures to date, if possible, and how they compare to expectations or past performance. Provide links to laudatory product or service reviews. Include some customer testimonials, if applicable (up to 350 words):
Total 269 words used.
EY Skills Foundry has achieved remarkable milestones, solidifying its position as an industry leader in workforce transformation. In October 2023, EY Skills Foundry was honored as a Top 25 Work Tech Vendor of the year, a testament to its innovation and impact in the field. Our product has realized over $30M in sales, with a pipeline of $205M, boasting a remarkable 5% weekly growth rate.
One standout success story showcases the transformative power of EY Skills Foundry. A global financial services organization, undergoing a sweeping technology transformation affecting 25,000 employees, sought our expertise to navigate complex challenges. They lacked a unified view of future-state roles, skills, and jobs which were impacting their progress.
EY Skills Foundry stepped in to support the transformation, leveraging our AI-powered, inference-based tools (Blueprint) to analyze existing skills, align them with future roles, and identify top upskilling needs. Through this process, we developed role and skill clarity, defined future technology roles, and established a workforce planning model to align employees with organizational goals.
Our efforts resulted in approximately $25 million in savings, achieved through increased operational efficiencies and strategic alignment of business costs with evolving needs. Furthermore, we streamlined the organizational structure, enhancing agility and accelerating customer delivery by reducing unnecessary management layers.
This success story exemplifies the transformative impact of EY Skills Foundry, not only in driving cost savings but also in enabling organizational agility and innovation. As we continue to forge ahead, our commitment to empowering organizations with cutting-edge workforce solutions remains unwavering. Our goal is for EY Skills Foundry to redefine the future of work, one success story at a time.
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 107 words used.
Please find attached the following documents to support EY Skills Foundry’s submission to the Corporate Learning/Workforce Development Solution category:
EY Skills Foundry Overview and Demo Video
In this video, you will hear from EY leader, Michael Bertolino, as he explains how EY Skills Foundry helps solve the problem of the ever-widening skills gap. EY Commercial Leader, Sharondev Natt, will also walk through a detailed demo of the platform and its unique and powerful functionality.
EY Skills Foundry Overview Pack
Within this pack, you will find a summary of the end-to-end EY Skills Foundry offering and product suite.
Please visit our product page for more information: eyskillsfoundry.com
| Attachments/Videos/Links: |
|---|
|
