Artificial Intelligence-powered <keyword id="11421393" type="UNKNOWN" weightage="20" keywordseo="talent-intelligence-platform-eightfold-ai">talent intelligence platform Eightfold AI</keyword> on Thursday announced that it has raised a $220 million in its Series E funding round led by SoftBanks Vision Fund 2. The company has raised more than $410 million to date, with $350 million coming in the last six months. <keyword id="10356092" type="PERSON" weightage="20" keywordseo="Eightfold-AI">Eightfold AI</keyword> said that the <keyword id="6356305" type="UNKNOWN" weightage="20" keywordseo="funds">funds</keyword> will be used to continue the rapid growth and development of its talent intelligence platform and expand its growing partner ecosystem. "Current HR systems were designed to address issues from a previous era, and they have failed to keep pace with the changing nature of work and the workforce," said Ashutosh <keyword id="196154" type="COMPANY" weightage="20" keywordseo="Garg">Garg</keyword>, Founder and CEO at Eightfold. "At Eightfold, we have an unprecedented opportunity, using AI to align the career goals of individuals while simultaneously creating better results for employers," Garg added. Additionally, Eightfold AI will use the funds to continue expanding its <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> operations, investing in the most talented data scientists and engineers in the region. The Series E funding round also saw investments from General Catalyst, Capital One Ventures, <keyword id="152673" type="COMPANY" weightage="20" keywordseo="Foundation-Capital">Foundation Capital</keyword>, <keyword id="189239" type="COMPANY" weightage="20" keywordseo="IVP">IVP</keyword> and <keyword id="455799" type="COMPANY" weightage="20" keywordseo="Lightspeed-Venture-Partners">Lightspeed Venture Partners</keyword>. "Powered by AI and machine learning, Eightfold's platform provides global enterprises with a single solution for managing the entire talent lifecycle, including hiring, retaining, and growing a diverse global workforce," said Deep Nishar, Senior Managing Partner at SoftBank Investment Advisers. SEE ALSO: <a href="https://www.businessinsider.in/tech/gadgets/news/realme-is-expected-to-launch-the-realme-book-and-realme-pad-on-june-15/articleshow/83398969.cms">Realme Book leaked ahead of launch, expected to debut with Realme Pad on June 15</a> <a href="https://www.businessinsider.in/cryptocurrency/news/iran-is-planning-to-introduce-a-legal-framework-for-crypto-even-as-bitcoin-mining-activity-remains-restricted/articleshow/83396588.cms">Iran is planning to introduce a legal framework for crypto even as bitcoin mining activity remains restricted</a>

Talent intelligence platform Eightfold AI raises $220 million led by SoftBank Vision Fund 2

<ul><li>The company currently serves more than 100 clients including Dolby, Tata Communications, NetApp, Booking.com, TriNet.</li><li>The company is planning to increase its workforce from 200 people to 500 people by the end of this year.</li><li>At Business Insider’s <keyword id="1967222" type="General" weightage="20" keywordseo="future-of-work" source="Orion">Future of Work</keyword> event, <keyword id="228169" type="General" weightage="20" keywordseo="ashutosh-garg" source="Orion">Ashutosh Garg</keyword>, founder and CEO of the company, said that the idea behind AI was never to replace humans.</li></ul>California and Noida-based <keyword id="12115845" type="General" weightage="20" keywordseo="Eightfold-ai" source="Orion">Eightfold.ai</keyword>, a talent intelligence platform, will be <keyword id="6357342" type="General" weightage="20" keywordseo="hiring" source="Orion">hiring</keyword> nearly 300 techies across the globe, and some from India too. The company is looking forward to increasing its workforce from 200 employees to 500 employees by the end of this year. The five-year old startup, backed by SoftBank, which currently employs 80-100 people in India, uses <keyword id="107950" type="General" weightage="20" keywordseo="artificial-intelligence" source="Orion">artificial intelligence</keyword> (AI) to filter thousands of resumes and help its client recruiters to find suitable candidates. The company currently serves more than 100 clients including Dolby, Tata Communications, NetApp, Booking.com, TriNet. In an exclusive interview at the Future of Work event hosted by Business Insider, founder and chief executive of Eightfold.ai, Ashutosh Garg said, “We are growing from 200 people to 500 people this year. We plan to hire 300 people across the globe by December.” When asked about the vision of the company during the interview, Garg said, “HR market is a $50 billion industry whereas finding the right talent is a trillion dollar problem. We are here to solve the trillion dollar problem for the companies who spend millions every year just on hiring, to make sure that they not only hire quickly, but hire the right talent and retain their employees as well.” <div type="twitter" handle="BiIndia" handlename="Business Insider India🇮🇳" image="http://pbs.twimg.com/profile_images/1232926719016718336/sfffJHNV_normal.jpg" favoritecount="6" retweetcount="0" status=".@ashutoshg, the founder of @eightfoldai speaks on what is the success metric of artificial intelligence in elimina… https://t.co/zDXmuDWPYT" createdat="1631809500000" id="1438539424560652289"></div> Another aspect, which Garg highlighted in the interview was that the company is more focused on making the entire hiring process ‘unbiased’. Citing the example of Amazon news story published by <a href="https://www.reuters.com/article/us-amazon-com-jobs-automation-insight-idUSKCN1MK08G">Reuters</a> in 2018 that the company secretly scrapped its AI recruiting tool because it was biased against women, Garg said, “The simple trick to reduce biases is to apply right algorithms and by learning about the skills and capabilities from a global data or perspective, we can mitigate the problem.” Garg also clarified about one of the biggest fears many people have that ‘AI is a threat to entry level jobs’. He said, “ The idea behind AI was never to replace humans, but to augment them with data which is updated and relevant.” SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/the-only-way-to-beat-the-bots-from-taking-your-job-is-to-be-more-human/articleshow/86282273.cms">Future of Work 2021: The only way to beat the bots from taking your job is to be more human</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/universal-pension-is-a-better-idea-than-universal-basic-income-says-indias-chief-economic-advisor/articleshow/86282048.cms">Future of Work 2021: Universal pension is a better idea than universal basic income, says India's Chief Economic Advisor</a>

Eightfold.ai is looking to hire 300 techies from India and across the globe

<ul class="summary-list"><li>Buying Tesla stock is the best way to add AI to a portfolio, Cathie Wood said Thursday.</li><li>The Ark Invest chief expects the electric carmaker's share price to surge eightfold in five years thanks to investors' passion for tech like ChatGPT.</li></ul>Buying <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a> stock is the one of the best ways investors can capitalize on the rise of ChatGPT and broader AI tech, according to Cathie Wood.The Ark Invest CIO said Thursday that the electric carmaker's status as the top holding in three of her funds reflects its share price's potential to surge eight times due to its prospective status as an AI stock."Actually Tesla is one of the most profound AI companies out there – that's why it's at the top of <a href="https://markets.businessinsider.com/etfs/ark-innovation-etf-us00214q1040">ARKK</a>, <a href="https://markets.businessinsider.com/etfs/ark-autonomous-technology-robotics-etf-us00214q2030">ARKQ</a>, <a href="https://markets.businessinsider.com/etfs/ark-next-generation-internet-etf-us00214q4010">ARKW</a> has a big position in it as well," Wood told <a href="https://www.youtube.com/watch?v=eNtkOT7VnuM" target="_blank" rel="noopener">Bloomberg TV</a>. "It is not an auto company, it is a technology company."A surge in investor enthusiasm about the intelligent language bot <a href="https://markets.businessinsider.com/news/stocks/chatgpt-frenzy-stock-impact-c3ai-buzzfeed-company-name-changes-artificial-intelligence-2023-2?utm_medium=ingest&amp;utm_source=markets">ChatGPT has fueled a rally in stocks</a> like <a href="https://markets.businessinsider.com/stocks/ai-stock">C3.AI</a> and <a href="https://markets.businessinsider.com/stocks/bzfd-stock">Buzzfeed</a> in recent weeks.Wood said that she expects the rise of AI to disrupt traditional tech players like Google parent <a href="https://markets.businessinsider.com/stocks/googl-stock">Alphabet</a>, which is currently developing a <a href="https://blog.google/technology/ai/bard-google-ai-search-updates/" target="_blank" rel="noopener">homegrown ChatGPT alternative called Bard</a>."The world is changing incredibly quickly here," she said. "We're seeing this with AI of course, all the news around ChatGPT that's captured the public's imagination and captured businesses' imagination, it's happening very quickly, and our portfolios are very focussed on the future.""The <a href="https://markets.businessinsider.com/index/nasdaq_composite">Nasdaq</a> and other broad-based benchmarks are much more traditional – really, the names at the top of those portfolios are the companies that have done incredibly well over the years," Wood added. "We think many of them will be disrupted – and we're seeing questions already about Google and search."But the Ark Invest chief feels Tesla is well positioned to take advantage of the rise of AI because it is looking to dominate the self-driving taxi market, which Wood has predicted will be one of the major transportation themes of the next decade."Autonomous taxi platforms, we believe, are the biggest opportunity in the next five to 10 years out there around artificial intelligence," Wood said.Ark's current Tesla outlook is for the company's share price to rise to between $1,500 and $1,600 within the next five years – which would represent a near-eightfold surge from the $207 level it traded at after Thursday's closing bell.Read more: <a href="https://markets.businessinsider.com/news/stocks/chatgpt-big-tech-stocks-google-microsoft-investing-analysis-stock-market-2023-2?_gl=1*tiyi69*_ga*MTgxNTI4ODA2Ni4xNjM0MDMzNTYz*_ga_E21CV80ZCZ*MTY3NjAyNTYwNy4zMTQuMS4xNjc2MDI4NDc4LjAuMC4w">Microsoft, Google, and Baidu are putting the final touches on their answers to ChatGPT. Here's what they have planned and what it means for investors.</a>

Just buy more Tesla stock if you want to cash in on the ChatGPT-driven surge for AI tech, Cathie Wood says

<ul class="summary-list"><li>Nvidia's Jensen Huang has zoomed up Bloomberg's rich list to rank 13th with a $107 billion fortune.</li><li>Only Michael Dell, Mukesh Ambani, and Warren Buffett stand between the CEO and a spot in the top 10.</li></ul><a target="_blank" href="https://www.businessinsider.com/nvidia-jensen-huang-chipmaker-cofounder-ceo-wealth-net-worth-ai-2023-5">Jensen Huang</a> has added about $93 billion to his net worth in under 18 months, leaving him just three spots away from breaking into the ranks of the world's 10 wealthiest people.The Nvidia cofounder and CEO's 3.5% stake in his company was worth less than $14 billion at the start of last year. With a fortune of that size now he'd barely crack the top 150 on the <a target="_blank" href="https://www.bloomberg.com/billionaires/">Bloomberg Billionaires Index</a>.Since then, Nvidia stock has skyrocketed from below $150 to north of $1,200 — an increase of more than 700%. The chipmaker's market capitalization just passed $3 trillion for the first time, <a target="_blank" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-bigger-than-apple-2nd-most-valuable-company-global-2024-6">leapfrogging Apple</a> to become the world's second-largest public company after Microsoft ($3.15 trillion).Huang now ranks 13th on Bloomberg's rich list with a $107 billion fortune. Only <a target="_blank" href="https://www.businessinsider.com/life-of-michael-dell-2014-7">Michael Dell</a> ($109 billion), <a target="_blank" href="https://www.businessinsider.com/ambani-richest-family-in-asia-india-lifestyle-home-wedding-photos-2018-12">Mukesh Ambani</a> ($109 billion), and <a target="_blank" href="https://www.businessinsider.com/how-warren-buffett-spends-money-net-worth">Warren Buffett</a> ($135 billion) stand between him and a top 10 spot.<a target="_blank" href="https://www.businessinsider.com/who-is-bernard-arnault-owner-louis-vuitton-lvmh-net-worth">Bernard Arnault</a>, the CEO of LVMH, remains top of the list with a $212 billion fortune — $8 billion more than Jeff Bezos. Nvidia and Huang have seen such sensational gains because of the <a target="_blank" href="https://www.businessinsider.com/ai-revolution-new-phase-openai-google-tech-2024-5">artificial intelligence craze</a>. Companies like Microsoft, Tesla, and Meta are buying Nvidia's graphics processors <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-twitter-china-tech-giants-nvidia-gpu-chips-2023-8?r=US&amp;IR=T">by the truckload</a> as they rush to build everything from AI-powered chatbots and recommendation systems to self-driving cars and humanoid robots.The demand boom <a target="_blank" href="https://markets.businessinsider.com/news/stocks/nvidia-q1-earnings-wall-street-reaction-ai-revolution-just-started-2024-5">fueled</a> a huge rise in Nvidia's revenue to $26 billion, and pushed net income to $14.9 billion in the three months to April 28.By comparison, Meta's revenue was $36.5 billion and net income $12.4 billion in the first quarter of this year.Investors have piled into Nvidia stock because they're convinced AI is transforming the world, and the chipmaker will play a critical role in powering the revolution.As a byproduct of that belief, Huang's wealth has grown by roughly eightfold in under 18 months.

Nvidia CEO Jensen Huang is now worth $107 billion, making him the 13th-richest person

<ul class="summary-list"><li>This stock market has the potential to play out like the party in the 1990s, Ed Yardeni said.</li><li>The rise of AI-hype stocks like Nvidia are giving investors flashbacks of internet-hype stocks like Cisco.</li></ul>There are a bouquet of moments in history to which we can compare today's stock-market rally. But one market vet says there are more parallels to the 1990s than any other era."Instead of a repeat of the inflationary 1970s or a replay of the productivity-led boom of the 1920s, the current decade has the potential to play out like the tech-led stock market party of the 1990s," Ed Yardeni, longtime investment strategist and president of Yardeni Research, wrote in a recent research note.The stock market has been partying since it bottomed in October last year — and it's predominantly been tech stock shimmying up and leading the way. This has happened before: markets rode a wave of internet hype in the late 1990s only to come crashing down when the bubble popped.Fast forward 30 years, and you have tech stocks like Nvidia that are giving investors flashbacks of the "parabolic ascent" of Cisco, a company whose share price increased eightfold from 1997 to March 2000. In the middle of the internet hype, Cisco was a company manufacturing key equipment for the internet — just like how Nvidia is focused on semiconductors integral to the AI boom."[Investors'] exuberance for AI started when OpenAI introduced ChatGPT on November 30, 2022," Yardeni said. "Since then, Nvidia's stock is up 252% because it is the leading semiconductor manufacturer of AI chips. It has led the S&amp;P 500 Semiconductor stock price index to a gain of 108% since then."This is all massively relevant because the bursting of speculative bubbles can tip economies into recessions. And we have a central bank that is desparately trying to avoid one. With the Fed is poised to cut interest rates this year, Yardeni said they risk fueling "irrational exuberance," a phenomenon coined by the Fed chair in the late 90s to explain investor enthusiasm that drives share prices higher than they should be. That's because there's <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-2024-6-trillion-cash-buy-the-dip-2023-12">a lot of cash sitting on the sidelines</a>, waiting for a signal from the Fed before pouring into financial markets."If Powell and his colleagues take a victory lap and celebrate their success at bringing down price inflation without causing a recession by lowering interest rates, they run the risk of fueling asset inflation," Yardeni wrote. "When that bubble bursts, a recession most likely would ensue."

A growing tech bubble has stocks in a boom-bust cycle reminiscent of the dot-com era, market vet warns

<ul class="summary-list"><li>Vague job descriptions put off 17% of workers from roles in the last 18 months, research suggests.</li><li>The survey, conducted by talent platform Eightfold AI, polled 913 employees and 259 HR leaders.</li></ul>Nearly a fifth of employees were recently put off applying to jobs because of "vague or confusing" job descriptions, a survey has suggested.The survey, conducted by talent intelligence platform, Eightfold AI, found that 74% of employees considered applying for a job in the past 12 to 18 months.But out of the 913 full- and part-time American workers surveyed, 17% reported not applying for a role in the same timeframe because "the <keyword id="13695675" type="UNKNOWN" weightage="60" keywordseo="job-description" source="Orion">job description</keyword> was vague or confusing."It was the second most common reason cited for not applying for a role, after feeling "my past experience did not directly relate to the job description," which 18% of those surveyed cited.Some 13% said they were put off by the role requiring attending an office or physical location.Asked to rank the importance of different things an employer could offer, 70% of respondents rated a "clearly defined <keyword id="12187017" type="UNKNOWN" weightage="60" keywordseo="job-application" source="Orion">job application</keyword> and interview process" as "very" or "extremely important."The research also surveyed 259 senior HR leaders, only 46% of whom felt that their companies offered "a clear job application and interview process" for all roles.Carol Cochran, VP of people and culture for FlexJobs, <a href="https://www.businessinsider.com/5-clues-to-look-for-in-job-descriptions-about-a-companys-culture-2021-8?r=US&amp;IR=T">previously told Insider</a> that job ads were the first indicators of the workplace culture, adding: "The effort that a company is putting into setting that environment, setting that stage for candidates right off the bat is going to tell you something."<a href="https://www.businessinsider.com/phoenix-group-insurance-remove-words-energetic-job-ads-boost-inclusion-2022-1?r=US&amp;IR=T">Insider's Stephen Jones reported </a>earlier this year that one insurance company, Phoenix Group replaced words like "energetic", "enthusiastic" and "innovative" with more specific terms to appeal to older workers.A spokesperson for the company said these words could feel like they were aimed at a younger generation and deter others from applying.

'Vague or confusing' job descriptions have put off nearly a fifth of workers from applying for roles, survey suggests

Amid a decline in Covid cases in the country, <keyword id="3658" type="General" weightage="20" keywordseo="India" source="Orion">India</keyword> may soon reopen its doors for <keyword id="6368574" type="General" weightage="20" keywordseo="foreign-tourists" source="Orion">foreign tourists</keyword> for the first time in one-and-a-half years, officials said. First five lakh foreign tourists will be issued visas free of cost, in an attempt to revive the tourism, hospitality and <keyword id="1020326" type="General" weightage="20" keywordseo="aviation-sectors" source="Orion">aviation sectors</keyword>, badly hit by the COVID-19 pandemic since March 2020 when a nationwide lockdown was announced. Top <keyword id="65242" type="General" weightage="20" keywordseo="Union-Home-Ministry" source="Orion">Union Home Ministry</keyword> officials are deliberating with all stakeholders on the expected date and modalities for opening up of the country for foreign tourists. A formal announcement allowing foreign tourists to visit India may come within the next 10 days, an official from the Home Ministry said. The decision is being taken in view of the declining number of <keyword id="8785701" type="General" weightage="20" keywordseo="COVID-19-cases" source="Orion">COVID-19 cases</keyword> in the country. On Sunday, 30,773 new cases were reported while active cases had come down to 3.32 lakh. India's COVID-19 vaccination coverage has also crossed 80 crore as on Saturday. The free visa to the tourists will be issued till March 31, 2022 or the issuance of five lakh visa, whichever is earlier. The total financial implication for this would be Rs 100 crore. The free visa move is expected to incentivise short-term tourists visiting India, the official said. The cost for a month-long e-tourist visa is country specific but is around USD 25. A year-long multiple entry e-tourists visa charge is around USD 40. The e-tourist visa has been suspended since March 2020. The Home Ministry officials said they are still deliberating whether the entry of foreign tourists will be allowed with certain conditions like limiting it to only vaccinated travellers for now and having a negative list of countries where COVID-19 cases remain a concern. The opening up is also expected to be phase-wise to see the response and implications, another official said. Many countries, including some of those in Europe, have already opened up for tourism. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/airlines-can-now-operate-85-of-pre-covid-domestic-flights-says-aviation-ministry/articleshow/86325934.cms">Airlines can now operate 85% of pre-Covid domestic flights, says Aviation Ministry</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/eightfold-ai-is-looking-to-hire-300-techies-from-india-and-across-the-globe/articleshow/86290591.cms">Eightfold.ai is looking to hire 300 techies from India and across the globe</a>

India may soon reopen its doors for foreign tourists as COVID-19 cases decline in the country

<ul><li>A PwC report predicts that 30% of the <keyword id="11018" type="General" weightage="20" keywordseo="jobs" source="Orion">jobs</keyword> will be automated by the mid-2030s.</li><li>However, <keyword id="25725" type="General" weightage="20" keywordseo="Ronnie-Screwvala" source="Orion">Ronnie Screwvala</keyword> believes that saying that <keyword id="1044234" type="General" weightage="20" keywordseo="bots" source="Orion">bots</keyword> are going to replace humans is rather a simplistic way of seeing things.</li><li>The key is to make oneself into a 360 degree person, armoured by both soft and hard skills, he noted.</li></ul>We have been warned for many years that technology will take over the world in decades to come and most of our jobs will become redundant. It’s definitely a scary thought, isn’t it? Well, serial entrepreneur and founder of a billion dollar edtech company Ronnie <keyword id="652420" type="General" weightage="20" keywordseo="screwvala" source="Orion">Screwvala</keyword> has a slightly different take on it. In a conversation with Business Insider during its Future of Work event, Screwvala noted that the world is in the fourth era of industrial revolution and many things are bound to change. However, he is of the opinion that saying that “bots are going to replace the workforce is rather a simplistic way of seeing things”. The jobs of tomorrow would lay emphasis on soft skills of an individual as hard skills can easily be managed by technology. <div type="ExtQuote" text="“When everyone says that you’re unemployable, it’s not because you don’t have the knowledge base. It’s because you don’t know what to do with that knowledge, you can’t communicate with that knowledge, you can’t collaborate with that knowledge… If you want to solve our employment problems today, people will have to be substantially entrepreneurial driven.”" auname="— Ronnie Screwvala, serial entrepreneur and chief executive of upGrad, said in Business Insider’s Future of Work event."></div> If you are not able to communicate, analyse, participate — it is going to be very difficult for the information age, he added. The key is to make oneself into a “360 degree person”, armoured by both soft and hard skills. <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[<blockquote class="twitter-tweet">&#39;You are not going to be in top 20% of your company if you just focus on data analytics, you have to focus on soft skills too&#39;, says <a href="https://twitter.com/RonnieScrewvala?ref_src=twsrc%5Etfw">@RonnieScrewvala</a>, Chairperson and Co-founder of upGrad, on the role, soft skills play in shaping one&#39;s career at <a href="https://twitter.com/BiIndia?ref_src=twsrc%5Etfw">@BiIndia</a>&#39;s <a href="https://twitter.com/hashtag/FutureOfWork?src=hash&amp;ref_src=twsrc%5Etfw">#FutureOfWork</a> summit. <a href="https://t.co/jhRWGe1e7Q">pic.twitter.com/jhRWGe1e7Q</a>&mdash; Business Insider India🇮🇳 (@BiIndia) <a href="https://twitter.com/BiIndia/status/1438497532049432581?ref_src=twsrc%5Etfw">September 16, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]></cdata></div> A few examples of soft skills include critical thinking, complex problem-solving, resilience, flexibility, creativity, originality, initiative and emotional intelligence. Ashutosh Garg, founder and chief executive (CEO) of artificial intelligence-powered talent management company eightfold.ai, also attended Business Insider’s Future of Work event. He noted that there are multiple aspects to saying whether automation is going to replace humans in their jobs. The first of those aspects is whether artificial intelligence (AI) is ready for it. According to Garg, AI is not developed enough to be at that stage, however it has the potential of getting there in the future. Again, some jobs may have to work in alignment with this deeptech technology. “I can put it on autopilot and be feasibly comfortable. So things are improving a lot. Now let's take sales as an example. I'm trying to hire a salesperson, I will start evaluating this person based on their emotional touch. Are they going to be able to close the deal or not, can they negotiate with the buyer or not?” he noted. According to a PwC <a href="https://www.pwc.com/hu/hu/kiadvanyok/assets/pdf/impact_of_automation_on_jobs.pdf">report </a>which estimates that 40% of jobs can be automated in the next 15 years, digital and softer skills are going to be the demand of the new age businesses. In 2017, <a href="https://www.deakinco.com/uploads/Whitepaper/deloitte-au-economics-deakin-soft-skills-business-success-170517.pdf">Deloitte</a> also reported that "soft skill-intensive occupations will account for two-thirds of all jobs by 2030." According to a<a href="https://www.muchskills.com/blog/soft-skills-skills-of-the-future"> blogpost </a>by Sweden-based HR-tech platform MuchSkills, the new age technologies — like artificial intelligence (AI), machine learning (ML) or robotics — can automate a number of human tasks, they will not be able to replicate emotional, social and cognitive skills imbibed by humans. “Between 1980 and 2012, jobs requiring high levels of social interaction grew by nearly 12 percentage points as a share of the US labour force. Math-intensive but less social jobs – including many STEM occupations – shrank by 3.3 percentage points over the same period,” wrote David J Deming in a paper titled<a href="https://scholar.harvard.edu/files/ddeming/files/deming_socialskills_may2017_final.pdf"> The Growing Importance Of Social Skills In The Labor Market</a>. Prior to this, India’s Prime Minister Narendra Modi had<a href="https://timesofindia.indiatimes.com/india/stop-demonising-tech-says-pm-narendra-modi-while-backing-ai/articleshow/71679298.cms"> emphasised</a> that AI is not going to take away jobs, but would be a talent and force multiplier. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/biocon-hero-motocorp-tvs-motor-banks-and-other-top-stocks-to-watch-out-for-on-september-17/articleshow/86281250.cms">Biocon, Hero MotoCorp, TVS Motor, banks and other top stocks to watch out for on September 17</a> <a href="https://www.businessinsider.in/business/news/biocon-biologics-to-offer-15-stake-to-serum-institute-life-sciences-at-valuation-of-4-9-billion/articleshow/86281318.cms">Biocon Biologics to offer 15% stake to Serum Institute Life Sciences at valuation of $4.9 billion</a> <a href="https://www.businessinsider.in/retail/news/sam-adams-will-craft-beer-using-hops-sent-into-earths-orbit-on-spacexs-inspiration4/articleshow/86277750.cms">Sam Adams will craft beer using hops sent into Earth's orbit on SpaceX's Inspiration4</a>

Future of Work 2021: The only way to beat the bots from taking your job is to be more human

<ul><li>A Microsoft report said that two things will remain even after the pandemic is over — <keyword id="8560604" type="General" weightage="20" keywordseo="flexible-work-arrangements" source="Orion">flexible work arrangements</keyword> and <keyword id="9403249" type="General" weightage="20" keywordseo="talent-landscape" source="Orion">talent landscape</keyword>.</li><li>40% of the <keyword id="492536" type="General" weightage="20" keywordseo="global-workforce" source="Orion">global workforce</keyword> is considering leaving their employers this year, popularly termed as ‘Great Resignation’.</li><li>HR heads are now focusing not only on the <keyword id="30860" type="General" weightage="20" keywordseo="mental-well-being" source="Orion">mental well-being</keyword> of their employees, but also emphasising on <keyword id="8077640" type="General" weightage="20" keywordseo="physical-wellness" source="Orion">physical wellness</keyword> as well.</li></ul>The new hybrid working style, which was adopted by almost all the organisations due to the COVID-19 pandemic, has proved to be highly effective as it doesn't seem to have decreased the productivity of the employees. A report by Microsoft, dated March 2021, said that two things will remain for sure even after the pandemic is over — flexible work arrangements and talent landscape. Remote working has definitely created a lot of job opportunities, has offered more time to spend with family and friends and even saved time of commuting. However, the second wave shifted the preferences of employees. The report further highlighted that 40% of the global workforce is considering leaving their employers this year, popularly termed as ‘Great Resignation’, which is said to have already started. Another report by Mckinsey says that employees don’t know what they want and are reevaluating their relationships with work. The major reason behind this could be the fusion of work and personal life. “Work hours are not defined, your bedroom is your office, your drawing room is your home, there is absolutely no line between office and home, both have merged, said Paneesh Rao, chief human resources officer (CHRO) of Mindtree, an information technology (IT) consulting firm based in Bengaluru, during the <a href="https://fow.businessinsider.in/">Future of Work</a> event hosted by Business Insider on September 16 and 17. “This increase in optionality, combined with a greater disconnect between personal lives and work obligations, is driving workers to reevaluate their relationships with their employers, as well as with their work”, said a Mckinsey report, which came out in July this year. These are some of the current priorities and issues of the human resource heads to tackle and resolve. <div type="twitter" handle="BiIndia" handlename="Business Insider India🇮🇳" image="http://pbs.twimg.com/profile_images/1232926719016718336/sfffJHNV_normal.jpg" favoritecount="2" retweetcount="0" status="#LIVE | Hear @sricharanc, @PaneeshRao, Anupam Kaura, Amit Prakash and Ishita Bandyopadhyay speak on talent transfor… https://t.co/4D5dz0bpbK" createdat="1631792274000" id="1438467173131833347"></div> <cmsannotation type="cmsannotation" annotationid="Employee well-being" comment="subhead" text="Employee well-being">Employee well-being</cmsannotation> Company heads are now focusing not only on the mental well-being of their employees, but also emphasising on physical wellness as well. “As the third wave of COVID-19 is still a prediction, it might happen or it might not happen so it is important right now to continue the wellness, and communication. As people are getting vaccinated, they are losing focus on their safety. It is important for people to understand that the COVID-19 cases may spike again,” said Amit Prakash, chief human resource officer of Marico Limited, a multinational consumer goods company based in Mumbai. <cmsannotation type="cmsannotation" annotationid="Embrace the work model" comment="subhead" text="Embrace the work model">Embrace the work model</cmsannotation> <div type="twitter" handle="BiIndia" handlename="Business Insider India🇮🇳" image="http://pbs.twimg.com/profile_images/1232926719016718336/sfffJHNV_normal.jpg" favoritecount="8" retweetcount="0" status="#FutureOfWork Summit: 'We have to be embracing the hybrid work model, there is no way out', Anupam Kaura, President… https://t.co/uUt2EACCak" createdat="1631805170000" id="1438521265191481345"></div> As remote working has become the new normal, many organisations will continue the new style and will hire new employees in this mode. “We have to embrace the new hybrid working model, it's not a choice anymore. In March last year, when we used to work from the office, since then it's been a big change,” said Anupam Kaura, president of human resources of CRISIL Limited, a subsidiary of America’s S&amp;P Global. <cmsannotation type="cmsannotation" annotationid="Manager capability" comment="subhead" text="Manager capability">Manager capability</cmsannotation> <div type="twitter" handle="BiIndia" handlename="Business Insider India🇮🇳" image="http://pbs.twimg.com/profile_images/1232926719016718336/sfffJHNV_normal.jpg" favoritecount="2" retweetcount="2" status="#FutureOfWork Summit: @sricharanc, HR Head at @WazirXIndia lists empowering de-centralised decision making by manag… https://t.co/oS6MwccR8x" createdat="1631807100000" id="1438529358805798923"></div> During the <keyword id="1967222" type="General" weightage="20" keywordseo="future-of-work" source="Orion">Future of Work</keyword> event, when asked about the current preferences, all the panelists who are also the human resources heads of their respective companies agreed to the point that the role of managers is going to be more critical in the future. Managers/leaders will have to be more flexible and will have to connect with their subordinates individually. “We are focusing on our managers to empower on or handle outflow or inflow of the talent. We want to empower them with decentralised decision making and flexibility -- a decision that managers will have to take,” said Sricharan C, head of human resources of WazirX, a bitcoin and cryptocurrency exchange. <cmsannotation type="cmsannotation" annotationid="Culture building" comment="subhead" text="Culture building">Culture building</cmsannotation> <div type="twitter" handle="BiIndia" handlename="Business Insider India🇮🇳" image="http://pbs.twimg.com/profile_images/1232926719016718336/sfffJHNV_normal.jpg" favoritecount="0" retweetcount="1" status="#FutureOfWork Summit: @PaneeshRao, the Chief People Officer of Mindtree discusses what managers need to prioritise… https://t.co/uvpQz9Lm2r" createdat="1631808001000" id="1438533136636207109"></div> “The 25% of the workforce who joined in the last two years, we have seen them on screen only, not connected with them physically. They are connected with us commercially only, not emotionally, so we are trying to work on that. We want to build a culture where our employees can connect with us both emotionally and professionally,” added Paneesh Rao of Mindtree. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/eightfold-ai-is-looking-to-hire-300-techies-from-india-and-across-the-globe/articleshow/86290591.cms">Eightfold.ai is looking to hire 300 techies from India and across the globe</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/india-may-soon-reopen-its-doors-for-foreign-tourists-as-covid-19-cases-decline-in-the-country/articleshow/86337072.cms">India may soon reopen its doors for foreign tourists as COVID-19 cases decline in the country</a>

From Microsoft to Marico to Mindtree, the new priorities of HR heads

<img src="https://static-ssl.businessinsider.com/image/5cc24a42b14bf46fee0d2d44-1867/gettyimages-1045151102.jpg" alt="Dara Khosrowshahi" />Good morning! This is the tech news you need to know this Friday.<ol><li><a href="https://www.businessinsider.com/uber-earnings-q4-profit-loss-revenue-total-rides-eats-2020-2?r=US&amp;IR=T">Uber's Q4 earnings topped Wall Street expectations, and the company said it will be profitable sooner than expected</a>. Uber said it plans t0 hit profitability by the end of 2020, and shares soared as much as 10% following the new timeline.</li><li><a href="https://www.businessinsider.com/amazon-jeff-bezos-shades-white-house-adviser-instagram-post-2020-2?r=US&amp;IR=T">Jeff Bezos used Instagram to take an apparent swipe at a senior Trump official who accused him of ducking an important meeting</a>. White House trade adviser Peter Navarro said Bezos told him at a recent party that they would meet, and has since dodged him. </li><li><a href="https://www.businessinsider.com/elon-musk-spacex-satellite-business-starlink-spin-off-ipo-report-2020-2?r=US&amp;IR=T">SpaceX's COO reportedly said Elon Musk's internet-satellite business Starlink is "likely" going to spin off from SpaceX and go public</a>. Starlink is "the right kind of business that we can go ahead and take public," SpaceX COO Gwynne Shotwell reportedly said on Thursday.</li><li><a href="https://www.businessinsider.com/amazon-plans-15000-new-jobs-bellevue-currently-2000-employees-2020-2?r=US&amp;IR=T">Amazon plans to create 15,000 jobs in Seattle suburb Bellevue</a>. The company currently employs around 2,000 people in Bellevue, meaning the expansion would grow its total presence there more than eightfold.</li><li><a href="https://www.businessinsider.com/juul-raises-700-million-in-debt-financial-strain-2020-2?r=US&amp;IR=T">Embattled e-cigarette company Juul has raised $700 million in debt amid financial strain and regulatory pressure</a>. Juul has been fighting off lawsuits, dealing with regulatory scrutiny, and adapting its business all while watching its valuation slide.</li><li><a href="https://www.businessinsider.com/huawei-is-suing-verizon-for-alleged-patent-infringements-2020-2?r=US&amp;IR=T">Huawei filed a legal action against Verizon for alleged patent infringements</a>. The suit is likely to exacerbate the tensions between Huawei and the US government, particularly in the light of Huawei's victory last month when the UK announced it would allow the tech giant to build some of its 5G network.</li><li><a href="https://www.businessinsider.com/clearview-ai-facial-recognition-startup-expand-overseas-authoritarian-regimes-2020-2?r=US&amp;IR=T">Clearview AI, the controversial company building a searchable database of peoples' faces, is reportedly planning a "rapid international expansion" that includes countries with documented human rights abuses</a>. Facebook, Twitter, Google, and other platforms have sent cease-and-desist letters to Clearview AI instructing it to stop scraping peoples' images from their sites.</li><li><a href="https://www.businessinsider.com/dating-apps-use-lgbtq-community-twice-as-much-straight-adults-2020-2?r=US&amp;IR=T">A Pew study found LGBTQ adults are using dating apps nearly twice as much as straight adults</a>. The results of the survey address the difficulties those in the LGBTQ community face in meeting people offline, whether that's due to a lack of queer spaces or queer visibility.</li><li><a href="https://www.businessinsider.com/tiktok-suicide-livestream-brazil-teen-waited-3-hours-call-police-2020-2?r=US&amp;IR=T">TikTok reportedly waited nearly three hours to call police in Brazil after a teen's death was livestreamed on the platform, but the company notified its own PR team almost immediately</a>. TikTok told Business Insider there was a "breakdown" in the process in which the company dealt with this video, and that it had since made changes to its review process, though it did not say what those changes are.</li><li><a href="https://www.businessinsider.com/elon-musk-whatsapp-security-flaws-joke-jeff-bezos-hack-2020-2?r=US&amp;IR=T">Elon Musk made a dig at WhatsApp's recent security scandals in a tweet</a>. A recent forensic analysis concluded that Amazon CEO Jeff Bezos' phone was hacked via a malicious link sent on WhatsApp. </li></ol>Have an Amazon Alexa device? Now you can hear 10 Things in Tech each morning. Just search for "Business Insider" in your Alexa's flash briefing settings.You can also <a href="https://newsletter.businessinsider.com/join/free">subscribe to this newsletter</a> here - just tick "10 Things in Tech You Need to Know.

10 things in tech you need to know today

<ul><li><keyword id="381854" type="COMPANY" weightage="20" keywordseo="Indiamart">IndiaMART</keyword> has posted a moderate performance for the second quarter of the current financial year.</li><li>In an interview with Business Insider, <keyword id="127964" type="PERSON" weightage="20" keywordseo="Dinesh-Agarwal">Dinesh Agarwal</keyword>, CEO, IndiaMART said that the COVID impact hasn’t completely worn off and also spoke about <keyword id="10142986" type="UNKNOWN" weightage="20" keywordseo="JD-Mart">JD Mart</keyword>'s launch.</li><li>Agarwal said that one of the biggest differences has been that the lockdown has resulted in a 30-40% growth in their buyer side traction. </li></ul>Indian Business-to-Business e-commerce platform IndiaMART has clocked in moderate performance for the second quarter of the current financial year. Its revenue from operations rose 4% at ₹163 crore, while its consolidated EBIT stood at ₹77 crore, up 147% on a year-on-year basis. Its net profit shows an eight-fold surge, but IndiaMART CEO Dinesh Agarwal attributed that as a one-time jump due to a tax readjustment last year. On a quarterly basis, its profit fell by 6%, resulting in a marginal dip in its share price on Tuesday. However, IndiaMART’s share price has more than doubled during the quarter. <div type="image" title="Indiamart shareprice" msid="79150444" hostid="261"></div> Competition is rising for the country’s oldest e-commerce platform IndiaMART, with <keyword id="6436290" type="UNKNOWN" weightage="20" keywordseo="just-dial">Just Dial</keyword> launching its B2B e-commerce platform, and the push from Amazon and Flipkart in the B2B space. Competition from JD Mart Justdial – the 24-year old local discovery platform –- is set to launch its own B2B (business to business) marketplace called JD Mart. This will be in direct competition to IndiaMart, which has had an <a href="https://www.businessinsider.in/business/news/justdial-jd-mart-challenges-indiamart-oldest-ecommerce-after-24-years/articleshow/78781834.cms">unchallenged run for 24 years.</a> But Agarwal isn’t worried about competition from JD Mart, at least not right away. “There are various kinds of B2B businesses and there are players like Amazon, Walmart. Let us see what JD Mart comes up with,” he said. Agarwal said that you can build a feature, but the kind of data, insights and algorithms IndiaMART has put together over the years can’t be launched overnight. “It will be a 3-5 year journey and at the end of it the buyers and sellers will see who offers a better value proposition to them. For any new player to do sales is one thing, but getting the product right is a long term plan. We didn’t build IndiaMART over a couple of quarters. Just Dial is a great company and I’m sure they will find something new, some day,” said Agarwal. Still dealing with the COVID impact During an interview with Business Insider, IndiaMART CEO Dinesh Agarwal explained the two main changes that the company dealt with during the second quarter. “There has been a definite shift in online adoption and the second, the kind of fear everyone had in mind initially has gone away. So, the overall economy has started to move on from June,” he said. Agarwal added that the COVID impact hasn’t completely worn off as 20% industries listed on IndiaMART continue to struggle while 30-49% of them are doing better than pre-COVID time too. <div type="image" title="IndiaMart revenue" msid="79150466" hostid="261"></div> One of the biggest differences has been that the lockdown has resulted in a 30-40% growth in their buyer side traction. “The number of buyers have gone up and their repeat rates have also gone up. Our number of buyers has gone up 30-40% from last year and the repeat rate from those buyers has gone up from 55% to 60%, which has further strengthened our network effect,” he said. <div type="image" title="Indiamart chart." msid="79150475" hostid="261"></div> With the economy opening up, offline retail once again poses competition to IndiaMART. Agarwal agrees but adds that the adoption of online seen in April, May and June is higher than ever before, and the impact continued even in the second quarter. “Even if 5% of people go back to offline, the new normal of the internet has happened and it’s not going to vanish,” he said. However, IndiaMART’s seller subscribers are yet to reach its pre-COVID levels and Agarwal believes it will take four-five months for them to completely get back to normal. Betting on tech and AI Agarwal understands that most of his buyers come from smaller cities for whom ‘search’ and using correct English might not be the first option. And that’s why IndiaMART continues to invest in voice search, AI/ML and language options for sellers and buyers. “For example, even if you write 300 different spellings of jewellery on IndiaMART, you will still get the right result,” he said. And that’s why the company doesn’t shy away from tech investments. Of IndiaMART’s total expenses, 20% of it goes into investing in products and technology. And out of the 4500 employees, 20% of them are in product and technology. SEE ALSO: <a href="https://www.businessinsider.in/business/news/justdial-jd-mart-challenges-indiamart-oldest-ecommerce-after-24-years/articleshow/78781834.cms">India’s oldest e-commerce platform is bracing for its first direct challenge in 24 years as Justdial ups its game</a>

INTERVIEW: IndiaMart founder Dinesh Agarwal responds to the incoming challenge from JD Mart

<ul class="summary-list"><li>The digital-fitness industry exploded during the pandemic and is showing no signs of stopping.</li><li>Though <keyword id="240276" type="PERSON" weightage="60" keywordseo="Peloton" source="Orion">Peloton</keyword> led the boom, a crop of competitors debuted innovative ways to work out at home.</li><li>Here's everything you need to know about the fast-growing digital-exercise market.</li></ul>Gone are the days of Tae Bo and Jane Fonda workout tapes. The at-home <keyword id="18974" type="COMPANY" weightage="60" keywordseo="fitness" source="Orion">fitness</keyword> scene is more high-tech than ever before, with numerous streaming classes and connected-equipment options to bring the gym experience into the home.Experts say that while the <a href="https://www.businessinsider.com/experts-say-virtual-fitness-boom-pandemic-is-here-to-stay-2020-10?r=fitness-lp">virtual-fitness trend</a> may have been ramping up in recent years, the pandemic accelerated its growth as Americans flocked to brands like Peloton, <keyword id="2139336" type="PERSON" weightage="60" keywordseo="Tonal" source="Orion">Tonal</keyword>, and Mirror.Increasing vaccination rates have jump-started local economies and led fitness studios to reopen. But analysts say that <a href="https://www.businessinsider.com/the-most-interesting-health-wellness-and-fitness-spacs-to-watch-2021-4?r=fitness-lp">at-home exercise habits</a> are likely to become routine. Some anticipate a hybrid model of fitness involving in-person group-fitness classes or gym visits supplemented by digital subscriptions and at-home workouts.With virtual exercise more popular than ever, Insider is covering all aspects of how <a href="https://www.businessinsider.com/10-fastest-growing-digital-fitness-companies-web-traffic-growth-2021-6?r=fitness-lp">the industry has grown</a>, with top players looking to cash in. Many companies are also finding that the road to No. 1 puts them on a collision course with Peloton.<h2>Peloton reigns supreme</h2>Peloton was a decisive winner in the pandemic, raking in $1.8 billion in revenue in 2020. The company <a href="https://www.businessinsider.com/peloton-cfo-shares-how-digital-subscriptions-drive-sales-2020-12?r=fitness-lp">boasts more than 4.4 million paying subscribers</a> across its bike, treadmill, and standalone membership programs.The fitness brand's popularity persisted even as <a href="https://www.businessinsider.com/peloton-tread-customers-report-injury-malfunction-as-early-as-2019-2021-4?r=fitness-lp">supply-chain woes led to significant delivery delays</a>. Peloton also <a href="https://www.businessinsider.com/peloton-tread-customers-report-injury-malfunction-as-early-as-2019-2021-4?r=fitness-lp">recalled its Tread+ treadmill in April</a> after the Consumer Product Safety Commission released a report detailing injuries to 38 users and the death of one child.To address the supply-chain concerns and <a href="https://www.businessinsider.com/3-ways-peloton-is-maintaining-meteoric-growth-according-to-cfo-2021-6?r=fitness-lp">maintain sales momentum</a>, Peloton <a href="https://www.businessinsider.com/experts-weigh-in-impact-of-pelotons-420-million-precor-acquisition-2020-12?r=fitness-lp">acquired the equipment manufacturer Precor</a> for $420 million in December. The company has also said it's improving safety mechanisms and redesigning its Tread+.<a href="https://www.businessinsider.com/pelotons-treadmill-recall-unlikely-to-hurt-the-company-long-term-2021-5?r=fitness-lp">Demand for Peloton remains strong</a>, despite its stock price dropping 17% so far this year. And it's said it's experimenting with a variety of new features, including virtual gaming.<ul><li>Read more: <a href="https://www.businessinsider.com/peloton-tread-customers-report-injury-malfunction-as-early-as-2019-2021-4?r=fitness-lp">Peloton just recalled its treadmill, but customers reported injuries and safety concerns as early as January 2019</a></li><li>Read more: <a href="https://www.businessinsider.com/pelotons-treadmill-recall-unlikely-to-hurt-the-company-long-term-2021-5?r=fitness-lp">Experts say Peloton will emerge from the treadmill recall with its bottom line intact - even as its delay in issuing a recall exposes larger safety issues</a></li><li>Read more: <a href="https://www.businessinsider.com/peloton-power-players-meet-18-execs-behind-meteoric-rise-2020-12?r=fitness-lp">Meet the 18 executives behind Peloton's meteoric rise and push for $4 billion in revenue in 2021 as it navigates recalls and supply-chain setbacks</a></li><li>Read more: <a href="https://www.businessinsider.com/experts-weigh-in-impact-of-pelotons-420-million-precor-acquisition-2020-12?r=fitness-lp">Peloton just shelled out $420 million for the massive fitness manufacturer Precor. Experts say the acquisition is vital to getting more Peloton machines to more people.</a></li><li>Read more: <a href="https://www.businessinsider.com/peloton-cfo-shares-how-digital-subscriptions-drive-sales-2020-12?r=fitness-lp">Peloton's CFO shares how the fitness company's digital-subscription service has become a 'powerful sales funnel' for purchases of bikes and treadmills and reaching new markets</a><a href="https://www.businessinsider.com/peloton-head-of-music-gwen-riley-partnerships-beyonce-timbaland-2021-3"></a></li></ul><div type="image" title="Tonal in use" height="900" width="1200" msid="85181905" hostid="261"></div><h2>Competition at an all-time high</h2>Peloton may be leading the way in the digital-fitness industry, but several companies are hot on its heels.Brands like Echelon have <a href="https://www.businessinsider.com/echelon-fitness-increased-sales-700-percent-competing-with-peloton-2020-12?r=fitness-lp">found success selling cheaper connected bicycles</a>. <a href="https://www.businessinsider.com/tonal-ceo-aly-orady-reveals-how-hes-revolutionizing-strength-training-2021-1?r=fitness-lp">Tonal</a>, <a href="https://www.businessinsider.com/tempo-ceo-reveals-whats-next-after-its-record-funding-round-2021-4?r=fitness-lp">Tempo</a>, and <a href="https://www.businessinsider.com/mirror-debuts-luluemon-stores-to-capitalize-on-virtual-fitness-boom-2020-11?r=fitness-lp">Mirror</a> have also introduced Americans to smart gym systems featuring high-tech products that take up minimal space and require little equipment.Meanwhile, group-fitness studios with devoted fan bases - including <a href="https://www.businessinsider.com/orangetheory-exec-reveals-digital-fitness-strategy-in-crowded-market-2021-3?r=fitness-lp">Orangetheory</a>, <a href="https://www.businessinsider.com/barrys-bootcamp-ceo-reveals-how-the-company-beat-pandemic-slump-2021-3?r=fitness-lp">Barry's Bootcamp</a>, <a href="https://www.businessinsider.com/zumba-ceo-how-the-fitness-company-went-virtual-2-months-2021-5?r=fitness-lp">Zumba</a>, <a href="https://www.businessinsider.com/physique-57-ceo-on-why-on-demand-fitness-is-the-future-of-exercise-2021-5?r=fitness-lp">Physique 57</a>, and <a href="https://www.businessinsider.com/cyclebar-doubles-down-on-studio-expansion-amid-home-workout-boom-2021-5?r=fitness-lp">CycleBar</a> - unveiled digital platforms and enhanced apps with new streaming workouts.The pandemic also gave rise to an entrepreneurial spirit among fitness instructors. Facing furloughs or layoffs, industrious trainers sought out companies like <a href="https://www.businessinsider.com/mindbody-jumps-on-virtual-fitness-boom-with-new-subscription-service-2021-1?r=fitness-lp">Mindbody</a> and <a href="https://www.businessinsider.com/moxies-fitness-platform-is-helping-trainers-make-money-at-home-2020-11?r=fitness-lp">Moxie's "Patreon of Fitness" program</a> that provide resources to run their own virtual-fitness businesses from home.<ul><li>Read more: <a href="https://www.businessinsider.com/17-digital-fitness-power-players-changing-how-americans-workout-2020-12?r=fitness-lp">Meet the 17 digital-fitness executives transforming the way Americans work out</a></li><li>Read more: <a href="https://www.businessinsider.com/tempo-ceo-reveals-whats-next-after-its-record-funding-round-2021-4?r=fitness-lp">How Tempo CEO Moawia Eldeeb tripled the valuation of his virtual home-gym startup in a year to become a top contender in the digital-fitness wars</a></li><li>Read more: <a href="https://www.businessinsider.com/tonal-ceo-aly-orady-reveals-how-hes-revolutionizing-strength-training-2021-1?r=fitness-lp">Tonal is taking on the fitness industry by using AI to personalize at-home workouts. Here's how it grew sales eightfold in 2020 and attracted investors like Steph Curry.</a></li><li>Read more: <a href="https://www.businessinsider.com/mirror-debuts-luluemon-stores-to-capitalize-on-virtual-fitness-boom-2020-11?r=fitness-lp">Lululemon bet big on Mirror, an in-home-workout rival to Peloton. Its CEO explains why in-store retail is the secret ingredient for getting inside consumers' homes.</a></li><li>Read more: <a href="https://www.businessinsider.com/virtual-fitness-streaming-subscriptions-exercise-program-peloton-pandemic-2020-9?r=fitness-lp">11 digital-fitness companies vying to compete with Peloton's winning membership model and cash in on the boom in at-home-exercise</a></li></ul><h2>What's next for <keyword id="2316866" type="PERSON" weightage="60" keywordseo="digital-fitness" source="Orion">digital fitness</keyword></h2>The past 18 months have been transformative for the fitness industry, with seismic shifts in how Americans work out paving the way for record-breaking sales.Investors are looking to find the next Peloton, and many are eyeing the <a href="https://www.businessinsider.com/indoor-rowing-brands-compete-for-next-at-home-fitness-hit-2021-5?r=fitness-lp">fast-growing indoor-rowing sector</a>. Brands like Ergatta, CityRow, and Hydrow have increasingly impressed Wall Street, raising more than $55 million combined in recent months.They're also interested in equipment manufacturers, which have been integral in accelerating the at-home-fitness market. Beyond Precor, companies like <a href="https://www.businessinsider.com/7-fitness-equipment-manufacturers-making-peloton-nordictrack-ergatta-2021-3?r=fitness-lp">Nautilus, Icon Health &amp; Fitness, and Core Health &amp; Fitness</a> have helped bring connected equipment into American homes.To bolster sales, digitally native fitness brands have forged partnerships with physical retailers to allow people to try their products in stores. Tonal, for example, has <a href="https://www.businessinsider.com/tonal-cmo-shares-strategy-behind-new-nordstrom-deal-digital-fitness-2021-3?r=fitness-lp">started selling its products in select Nordstrom</a> stores, and experts say the trend will continue.<ul><li>Read more: <a href="https://www.businessinsider.com/watch-top-fitness-leaders-discuss-the-virtual-exercise-boom-2021-5?r=fitness-lp">WATCH: Top fitness leaders reveal how the boom in virtual and at-home exercise is transforming the way Americans work out and what they anticipate for the industry</a></li><li>Read more: <a href="https://www.businessinsider.com/7-fitness-equipment-manufacturers-making-peloton-nordictrack-ergatta-2021-3?r=fitness-lp">Meet the 7 companies manufacturing Peloton, NordicTrack, and Ergatta workout equipment and dominating a market expected to be worth more than $15 billion by 2027</a></li><li>Read more: <a href="https://www.businessinsider.com/nautilus-increased-sales-152-percent-investing-in-connected-digital-fitness-2021-2?r=fitness-lp">The CEO of Nautilus reveals how the fitness company increased sales by 152% and rebranded the 'old school' vibe of its brands like Bowflex</a></li><li>Read more: <a href="https://www.businessinsider.com/how-icon-fitness-is-positioning-itself-as-a-leader-in-digital-workouts-2021-4?r=fitness-lp">How the company behind NordicTrack is targeting long-term success in at-home digital workouts after the pandemic boosted sales by 600%</a></li></ul>

You Searched For "Eightfold AI" and got 12 results

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