Gooroo is seeking a patent for technology that ‘mimics human thinking’
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Human resources software maker Gooroo jumped 15 per cent after announcing a patent application for technology that mimics human thinking.
The Advanced Relational Meaning System allows employers to “map an individual’s decision-making patterns”, allowing a computer to judge what workers will do “when faced with uncertainty, change and challenge”.
The system uses the information to figure out which job a person is best suited to or what training would benefit them most.
“Routine-based aspects of our jobs will be replaced with technologies so we need to work out who we are as individuals,” chief executive Greg Muller told Stockhead.
“This technology allows a program to read the capacity that we have to innovate, create and to be entrepreneurial.”
Automation will replace up to 40 per cent of Australian jobs in the next 10 to 15 years, according to research from the Centre for Economic Development of Australia.
Gooroo’s (ASX:GOO) technology uses behavioural science to address that challenge by matching workers with jobs that best suit their personalities.
Its shares gained 15 per cent to 15c after the Friday announcement, giving it a market cap of $9.2 million.
Gooroo also last week announced a pilot program with global recruitment agency Randstad.
And last month it announced a partnership with KPMG’s AI division 49x, to explore opportunities in consumer retail, medical, real estate and federal government.
“There are many organisations out there that build great applications but only have a shelf life of a couple of years,” Mr Muller said.
“What Gooroo is sitting on is some rich IP [intellectual property] that is a massive asset to the business for its ability to chart and map the human mind.”
Gooroo posted a $2.6 million loss last year, and had $1.8 million in the bank at the end of the period.