As per a recent development, Ernst & Young India (EY- primarily a multinational based out of the UK) has purchased Spotmentor Technologies; an AI start-up with expertise in the HR tech spectrum founded by four alumni of IIT-Kharagpur (Indian Institute of Technology – Kharagpur). The amount of the acquisition is undisclosed.
The idea behind this acquisition is to integrate the potential of AI (artificial intelligence) and ML (machine learning) in the company’s product portfolio. Additionally, EY believes that AI is critical for enhancing its service offerings.
Based out of Gurugram in India, Spotmentor is a robust skilling platform that aids enterprises with the ease of identifying skills needed for the future of work, reskilling, and upskilling talent. This acquisition works in sync with EY’s idea of reinforcing its people advisory portfolio of digital services.
Founded by a talented pool of IIT-Kharagpur, viz., Arpit Goyal, Yash PI Mittal, Shekhar Suman, and Deepak Singh back in 2016, Spotmentor was conceptualized to serve large enterprises such as large-scale companies and government and industry bodies.
They aimed to support them with solutions to identify necessary skills and competency gaps via hyper-personalized learning and reskilling plans. The company believes that the start-up’s AI solutions can potentially be used across the value chain of enterprises.
Partner and Consulting Leader, EY India, Rohan Sachdev, mentioned that the acquisition of Spotmentor Technologies will strengthen their digital offerings by uniting their strength in strategic people consulting and seasoned experience in learning and skill development.
He adds, it is interesting to note that the big four firms, along with other consulting firms, are competing in an environment where AI is becoming crucial to the way they offer services to their clients.