With Alberni, the HR industry's first AI agent, Borderless AI is changing the way HR teams work for employees and employers around the world.
Toronto, June 14, 2024 /PRNewswire/ — AI without bordersIt is the world's first AI-enabled HR platform. Close Contacta leader in enterprise large-scale language model (LLM) solutions, has partnered with Borderless AI and Cohere to provide customized AI agents for the HR sector. While investors have been put off by the high price tag of LLMs, Borderless AI and Cohere are deploying AI in industries with existing business models and customer bases where the need for AI is clear.
Other industry players like Diehl $500 million With annual recurring revenues growing to $10 billion in just five years, Remote.com is not far behind. This growth points to huge potential and opportunity in the Employer of Record (EOR) and global payroll space. Borderless AI is taking a revolutionary approach to the industry as the first company to deploy AI to streamline global-first HR tasks, onboarding, payroll, and more.
The global multi-country payroll solutions market is $10.5 billion By 2030However, no companies are yet developing AI to serve this growing sector. Moreover, much of this growth is Canada – The region where both Borderless AI and Cohere are headquartered.
With today's announcement, Borderless AI and Cohere are solving this problem in several ways.
- Borderless AI Announces Launch of AI Agent for Employment Contracts in Canada – Startups Around the World Canada The industry's first access to Borderless AI to create compliance agreements for your team
- AI-powered real-time payments and financial capabilities – Unlike Deel and Remote.com, Borderless AI does not require payroll deposits, which is a huge improvement to the customer experience and means more money in customers' hands.
- Unique HR knowledge base – Powered by Cohere's RAG technology. HR professionals around the world Canada Through Borderless AI's proprietary AI agents, you can now gain domain-specific knowledge of HR best practices and employment law.
AI is disrupting sectors such as HR, legal, customer service, payments and retail with the introduction of AI agents. Leading companies such as Harvey in legal and Sierra in customer service have noted the critical need for AI agents across industries. launch The Borderless AI subsidiary is also taking a similar vertical approach to the HR industry, solving the complex challenges HR teams face every day when scaling global teams.
In partnership with Cohere, Albani They can provide AI systems to help with tasks that require complex reasoning, extensive domain knowledge, and capabilities that go beyond a single model invocation, such as drafting employment documentation, answering questions about complex labor law scenarios, or identifying critical conflicts among hundreds of contracts.
“We are pleased to see Borderless AI leveraging Cohere's best-in-class enterprise AI models to tackle real-world HR challenges that have long faced companies looking to expand in new markets,” said John F. Aidan Gomez“Our model excels in key business capabilities such as advanced RAG and multi-language support, helping Borderless AI bring real productivity and efficiency gains to the global HR market. We look forward to supporting Borderless AI as they build the business solutions that will drive the future of global HR,” said , CEO and co-founder of Cohere.
“We're excited to be at the forefront of the AI agent revolution and are already using smarter, more autonomous AI to streamline workflows for our customers by combining data from a variety of sources,” said David Schneider, CEO of Salesforce. Wilson Cross“We're proud to continue working with Cohere to combine local compliance and payroll resources with AI, all on one platform, to deliver a new approach to global-first HR,” said , CEO and co-founder of Borderless AI.
About Borderless AI
Borderless AI is a global payroll solution that leverages the power of generative AI to automate and accelerate the process of onboarding, managing and paying international team members. Borderless AI enables companies to compliantly hire and manage talent around the world without setting up overseas legal entities, while reducing the complexity and risk associated with hiring a global workforce. Focused on innovation and customer service, Borderless AI developed Alberni, the world's first AI agent for global HR. Alberni uses conversational AI to simplify global hiring tasks, from creating contracts to managing expenses. The company is headquartered in Toronto, Canada,and $27 million To date, the company has raised seed funding. Susquehanna and Agra Eventures.
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