NEW YORK, NY / ACCESSWIRE / March 23, 2023 / bowmo™, Inc. (OTC:BOMO), a New York City-based HR-Tech company ("bowmo," "the Company"), today announced that Siemens Healthineers (www.siemens-healthineers.com), Endeavor (www.endeavorco.com), as well as other enterprises, have agreed to become Beta Users of BOWMO 2.0.
Between 2015 and 2022, BOWMO's team has developed an innovative Matching Algorithm for BOWMO 1.0 HR-Tech Platform ("Platform") driven by artificial intelligence (AI) that has proven to be highly effective in matching qualified candidates with job opportunities. BOWMO's algorithm uses advanced Machine Learning (as a part of broader Deep Learning) techniques to analyze résumés, job descriptions, and other relevant data to identify the most suitable candidates for a given job. This technology has the potential to revolutionize the recruitment process and provide a significant competitive advantage in the industry.
The global pandemic has inevitably reshaped the hiring process. Companies are increasing their budgets and spending on HR Technology and Digital Transformation, shifting toward virtual hiring solutions as a necessity to mitigate risks. BOWMO's ultimate goal is to become a dominant player to help accelerate the adoption of HR-Tech in order to stay ahead of the competition.
In July 2022, the Company launched the development of BOWMO 2.0, aimed to eventually automate the end-to-end hiring processes with its AI-based matching and intuitive workflow engine while providing just-in-time content, resources, and tools, such as video interviewing, so that hiring organizations can vet their candidates (bowmo: Software as a Service [SaaS]).
The BOWMO 2.0 Product Roadmap has been designed by Michael R. Neece, BOWMO's Chief Product Officer. The Company hired its software development team in Switzerland, led by Damian Hischier, considered one of the best AI architects in the EU, who has designed various successful matching algorithms for the aviation and medical industries, where lives depend on the accuracy of Damian's AI systems. BOWMO completed close to 60% of new additional features by the end of February 2023, bringing the BOWMO 2.0 platform to the next level.
Soon to be moving into a Beta Testing Phase of the BOWMO 2.0 product development, the Company is looking to Beta Test BOWMO's new and improved platform as the final round of testing before releasing the product to target customers. The objective of the Beta Test is to uncover as many bugs or usability issues as possible in this controlled setting.
Company management decided to run an open Beta Test where Beta Users will be using the Beta Version of BOWMO 2.0 free of charge, and in exchange, are required to submit their feedback to the BOWMO 2.0 Development Team.
Upon successful completion of the Beta Test with the help of Beta Users from various industries (healthcare, financial, media, entertainment, HR, and more), BOWMO's newly designed and trained algorithm will help BOWMO 2.0 add value to each unique organization very quickly.
Once the BOWMO 2.0 is launched into the market, Beta Users will decide to continue using BOWMO's new platform, and will receive additional incentives and price discounts for their participation in Beta testing.
Presently, Company management has recruited major corporate enterprises, such as Siemens Healthineers (www.siemens-healthineers.com) and Endeavor (www.endeavorco.com), who is one of BOWMO's customers, as well as several respected recruiting agencies, such as Perfect Fit Placement, LHI Executive Search, and the Bundoran Group, to become Beta Users of BOWMO 2.0.
Michael R. Neece, BOWMO's Chief Product Officer, said: "The fundamental part of BOWMO's business philosophy is to design new product features and options based on our target customers' needs and wants. For that reason, the participation of well-known enterprises such as Siemens Healthineers and Endeavor in Beta Testing are critical for the future market success of BOWMO 2.0."
Eddie Aizman, Founder and CEO of BOWMO, added: "I am thrilled that many well-respected companies are interested in beta testing Bowmo's next-generation AI software. Their insights will help transform the recruitment industry.
BOWMO is first a software company, developing AI-powered matching and workflow automations to dramatically improve how organizations, recruiting firms, and job seekers collaborate in real-time to build their teams and advance careers.
Like Chat-GPT, BOWMO also started development in 2015. We believe we are also on the verge of delivering AI-powered solutions that improve lives and increase business productivity.
Using our AI-powered platform, recruiting agencies and corporate talent acquisition professionals can focus on high-value work activities and key relationships while BOWMO 2.0 automates the repetitive and time-consuming back-office tasks."
About bowmo, Inc.
BOWMO's vision is to complete its VIBM 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-driven 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 City, 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.
Michael E. Lakshin
Chairman of the Board and President
212-398-0002, ext. 519
SOURCE: bowmo Inc.