NEW YORK, NY / ACCESSWIRE / April 12, 2023 / BOWMO™, Inc. (OTC:BOMO), a New York City-based HR-Tech company ("BOWMO" "the Company"), today announced the continued development of the second phase of the BOWMO 2.0 development, the HR-Tech platform powered by artificial intelligence ("AI") that is set to transform the HR-Tech market.
BOWMO was one of the earlier disrupters that came up with an AI-based strategy that aims to transform the HR-Tech market. Since 2015, BOWMO has been developing its AI platform (BOWMO 1.0) to revolutionize the way in which companies manage their hiring processes. The Company's platform uses Deep Learning algorithms to analyze job postings and candidate résumés, delivering personalized insights to employers and job seekers alike.
In July 2022, the Company started the development of BOWMO 2.0 built on BOWMO's continuous commitment to AI innovation, offering a range of new features designed to streamline the hiring process and improve the candidate experience. These include advanced applicant tracking, custom job descriptions, and intelligent matching technology, which uses AI to match job seekers with the most suitable opportunities.
The new strategy has already garnered interest from investors and current shareholders.
The next phases include optimizing the matching algorithm and implementing the unique hiring workflow automations that make BOWMO 2.0 the next-generation hiring platform. For example, 80% matching engine accuracy is considered world class. We have achieved 70%+ accuracy so far. The algorithm training phase that started on Monday, April 10, 2023, should get us very close to world-class matching accuracy.
Today, the BOWMO development team is investing most of their critical time and resources into establishing a world-class AI foundation designed to support sustainable and scalable growth of BOWMO 2.0, and has achieved significant progress in implementing AI and blockchain technologies to establish the foundational functionalities for BOWMO 2.0.
The AI-based strategy is designed to help HR executives make informed decisions and transform their organizations. The technology provides valuable insights into employee performance, engagement, and retention, and helps HR professionals identify the best talent for their organizations.
"BOWMO's AI-based strategy is set to transform the HR-Tech market, and the Company is eager to be at the forefront of this revolution," says Eddie Aizman, Founder and CEO of BOWMO. "We have been developing this technology for over six years and will be very excited to release the Beta version in the next quarter, assuming we secure the funding required to accelerate development. Our AI application will help HR executives make data-driven decisions and transform their organizations. Today, several world-renowned enterprises have already signed on to become Beta users for BOWMO 2.0. in order to help our Company unveil the most advanced, efficient, and easy-to-use HR-Tech platform driven by AI."
"Today's job market is more competitive than ever, and companies need to be able to find the right talent quickly and efficiently. The final release of BOWMO 2.0 will be a major milestone in the Company's ongoing mission to transform the HR-Tech market. With its powerful AI technology and commitment to innovation, BOWMO is poised to revolutionize the way in which companies manage their hiring processes," adds Michael R. Neece, BOWMO's Chief Product Officer, who is overseeing the development of BOWMO 2.0.
About bowmo, Inc.
BOWMO's vision is to complete its Vertically Integrated Business Model ("VIBM") with the BOWMO AI-powered HR-Tech platform at heart ("BOWMO SaaS") capable of providing services, and add value to all segments of the HR-Tech market in the US and worldwide.
BOWMO's goal is to constantly improve the Company's HR-Tech platform to address present and future market needs ahead of the competition by offering a unique combination of proprietary AI-based technology with a do-it-yourself sourcing experience able to match candidates to jobs without having to use keyword searches or Boolean strings.
BOWMO's AI-powered platform will automate the end-to-end hiring processes with its AI-based matching engine while providing just-in-time content, resources, and tools, such as video interviewing and cultural and technical assessments, so that hiring organizations can vet their candidates (bowmo: Software as a Service [SaaS]).
The BOWMO VIBM will be complemented by our Recruiting as a Service (bowmo: RaaS), which allows clients to outsource the management of the recruiting process (RPO). The BOWMO RaaS offering will complement the Company's improved HR-Tech platform by offering BOWMO's clients a choice of high-touch, high-tech services strategically geared to market needs and objectives.
In addition, BOWMO's VIBM offers unique added value via e-Learning programs by Interview Mastery and Selecting ExcellenceÔ, designed by Michael R. Neece, one of the true pioneers in the HR e-Learning field. Both programs have been continually improving in order to solve the challenges of today's job-market realities for more than 20 years.
The Company's clients receive assistance across all recruiting functions, such as job-description development, branded career-page management, pre-employment and cultural assessments, and a video interview platform-all managed by a team of experienced recruiters.
With the BOWMO HR-Tech platform as a foundation for the Company's VIBM-performing matching and sourcing at the core-BOWMO is reshaping how businesses find talent and provide a quality on-demand experience.
Additional Information and Where to Find It
Additional information is available on the Company's website: https://www.bowmo.com. In addition, other information related to the Company is available at the SEC's website at www.sec.gov, or by directing a request to: BOWMO, Inc., 99 Wall Street, Suite 891, New York, NY 10005, or by phone at 212-398-0002.
Cautionary Statement Regarding Forward-Looking Statements
This Current Report, including Exhibit 99.1 attached hereto, contains certain forward-looking statements that involve substantial risks and uncertainties. When used herein, the terms "anticipates," "expects," "estimates," "believes," "will," and similar expressions, as they relate to us or our management, are intended to identify such forward-looking statements.
Forward-looking statements in this Current Report, including Exhibit 99.1 attached hereto, or hereafter, including in other publicly available documents filed with the Securities and Exchange Commission, reports to the stockholders of the Company and other publicly available statements issued or released by us involve known and unknown risks, uncertainties, and other factors that could cause our actual results, performance (financial or operating), or achievements to differ from the future results, performance (financial or operating), or achievements expressed or implied by such forward-looking statements. Such future results are based upon management's best estimates based upon current conditions and the most recent results of operations. These risks include, but are not limited to, the risks set forth herein and in such other documents filed with the Securities and Exchange Commission, each of which could adversely affect our business and the accuracy of the forward-looking statements contained herein. Our actual results, performance, or achievements may differ materially from those expressed or implied by such forward-looking statements.
These forward-looking statements are subject to a number of known and unknown risks, uncertainties, and assumptions, including those described under the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2022, filed with the Securities and Exchange Commission (the "SEC") on November 21, 2022, as may be updated in the Company's other periodic filings with the SEC. Moreover, the Company operates in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for management to predict all risks, nor can the Company assess the impact of all factors on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements the Company may make. In light of these risks, uncertainties, and assumptions, the future events and trends discussed in this press release may not occur or continue, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements.
Any forward-looking statements made herein speak only as of the date of this press release. Except as required by applicable law, the Company undertakes no obligation to update any of these forward-looking statements for any reason after the date of this press release or to conform these statements to actual results or revised expectations. Any forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, restructurings, joint ventures, partnerships, or investments the Company may make.
These forward-looking statements are based upon information available to the Company as of the date of this press release, and while the Company believes such information forms a reasonable basis for such statements, such information may be limited or incomplete; and statements should not be read to indicate that the Company has conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely upon these statements.
SOURCE: Bowmo Inc.