LinkedIn, which Microsoft owns, recently announced that the number of its users has surpassed one billion. In addition, the company is launching new artificial intelligence (AI) service offerings specifically for its premium subscribers.
With one billion users, LinkedIn has joined the ranks of other online platforms and leading social networks, which is quite an accomplishment in and of itself. According to Reuters, it is interesting that eighty percent of LinkedIn’s most recent members are users from other countries; this demonstrates the attractiveness of the organization on a global scale.
LinkedIn provides a free membership option, but users can additionally subscribe to the platform in a variety of other ways. Premium customers have access to cutting-edge artificial intelligence capabilities that are designed to improve professional networking and job search outcomes for a recurring cost of $39.99 per month.
The Advantages of LinkedIn’s AI Features
An algorithm that analyzes user profiles in order to determine whether or not they are qualified for a certain profession is one of the most important AI features offered to premium users. These insights, which AI drives, can assist users in navigating the sea of job advertisements in today’s competitive job market and provide direction for their job search. The AI is even able to offer adjustments that the user should make to their profile in order to make themselves more appealing as job seekers.
According to statements made by Tomer Cohen, Chief Product Officer of LinkedIn, the purpose of this tool is to assist users in not just finding jobs but also developing substantial relationships in a single session. They may feel more confident in their job search endeavors after considering these suggestions that AI-generated.
In addition to AI tools centered on employment, LinkedIn has introduced a new feature that condenses lengthy communications into brief bullet points that are personalized for each member. This function enhances the relevance of the material for users by providing a variety of takeaways suitable for a wide range of vocations, such as stockbrokers and sales professionals.
In yet another demonstration of LinkedIn’s commitment to artificial intelligence, the company recently introduced a chatbot that is driven by AI and marketed as a “career coach.” This chatbot, which is powered by the GPT-4 technology developed by OpenAI (a startup that Microsoft strongly supports), takes users through the process of applying for jobs and assists them in determining whether or not an opportunity is worthwhile.
According to Erran Berger, who serves as vice president of product engineering at LinkedIn, the company’s engineering staff has developed many tools to enhance the experience of using the platform for end users.
“On our end, we had to design a bunch of stuff in order to go around that and to ensure that this is a really quick experience. Sometimes, when you’re having these conversational encounters, it might feel very much like you’re searching; you expect it to be instant. CNBC quoted Berger as saying that there were “real platform capabilities” that needed to be developed in order to make the possibility a reality.
According to TechCrunch, the push that LinkedIn is making to increase its capabilities in the area of artificial intelligence (AI) is owing to a number of practical reasons. One of the primary motivations is to solve difficulties associated with the usage of social media, which is a prevalent problem on sites such as LinkedIn, where maintaining a professional presence is essential. The goal is to increase the amount of active member participation, which will ultimately lead to increased user engagement across the board on the web platform.
As the social networking platform controlled by Microsoft enters its third decade, it hopes to maintain its relevance despite the growing interest in artificial intelligence. It has been observed that the use of generative AI technologies can play a significant role in both the maintenance of user activity and the promotion of deeper involvement.
Last but not least, these AI capabilities are designed to bolster the premium subscription part of LinkedIn, which has been seeing solid growth. The corporation has not disclosed the actual revenue figures that were generated from paid memberships, but year-over-year increases in premiums were an outstanding 55% in the most recent month.