By 2026, IDC estimates that 40% of the total revenue for the Forbes Global 2000 will be generated by digital products, services and experiences—and it is forecast that AI will add nearly $16 trillion to the global economy by 2030.
ServiceNow, a company that helps other businesses work better through digital tools, announced this week at Knowledge 2023 a range of new features to help companies work faster and smarter.
Chief executive officer Bill McDermott explained that they want to give CEOs a single tool that can manage all their tech needs to help them get results faster.
“We’re bringing fully automated solutions to build great experiences in this new age of online software,” he said. “CEOs need a single platform that
can orchestrate the entire technology value chain to drive faster business outcomes.”
One of the new features is a tool that uses artificial intelligence to automate tasks in finance and supply chain management. This includes tasks like buying goods and services for the company, paying bills, and managing suppliers. The idea is to connect existing systems and use AI to help make faster and better decisions, saving companies time and money.
ServiceNow is also introducing tools that make use of “generative AI.” This is a type of AI that can create new things, like writing reports or generating code, which can help businesses automate more tasks. These tools are part of a partnership with Microsoft.
The major announcement for the tech talent scene is a tool called Employee Growth and Development. This tool is designed to help businesses identify the skills they need for the future and develop these skills in their employees.
According to i4cp, only 30% of organizations have the skills needed to take them into the future, and only 10% have an all-employee skills database or inventory. When organizations don’t have a clear picture of what skills their employees have—and where there are gaps that need to be filled—building and maintaining an efficient workforce is difficult, McDermott notes.
Employee Growth and Development is an AI-powered solution that helps organizations predict, identify, and develop skills that will have the greatest impact on the business and close talent gaps. By bringing data and systems used for learning and development together on a single platform, EGD will guide employees and their managers through career plans, development goals, and learning resources.
ServiceNow is also continuing its RiseUp program, which aims to train one million people to use their platform by the end of 2024.
Since it started in October, the program has reached almost 400,000 learners, with 380,000 completed courses and 41 new partnerships.
“ServiceNow makes the world of work, work better for people,” states McDermott. “There once was a time where IT supported the business, but now digital transformation is the business.”