LinkedIn has rolled out a new artificial intelligence-driven feature for premium subscribers as the work-based social network surpassed one billion members.
The new feature will offer a built-in job coaching tool that uses AI technology and LinkedIn data to help job seekers explore and apply for positions that fit their profiles and career aspirations.
“Surpassing one billion members is not just about reaching a milestone … it’s about fostering a dynamic ecosystem,” Tomer Cohen, chief product officer at LinkedIn, said.
It is “testament to the important role our platform plays in the lives of so many professionals and businesses”.
Almost 80 per cent of the US-based company’s latest sign-ups come from international locations.
LinkedIn provides both free and subscription-based memberships.
Subscribers to the $39.99 per month tier will gain access to new AI capabilities that can assess a user's profile data, past searches and inform them whether they are a suitable candidate while navigating numerous job listings.
“[Premium] members will see more personalisation with every interaction, from how to get smarter about important topics to personalised career actions they can take,” Mr Cohen said.
“It will include personalised takeaways and nudges, from suggestions for skills you should build, to professionals in your network to reach out to for any question you have.”
The AI-powered feature will also go through long articles, videos and posts, and suggest ideas on how the information can be helpful to users, the company said.
“The new AI product for LinkedIn is a bigger deal than it looks like on a first impression, not because of the product itself, but mainly because it is another clear indicator that Microsoft is leaps and bounds ahead of the competition when it comes to monetising AI today," Thomas Monteiro, senior analyst at investing.com, told The National.
“It is clear that the market will soon start charging the AI bill that came from all the massive sums of cash poured into tech companies throughout the year, and this is when Microsoft's array of already monetised products will give it a significant edge,” he added.
Launched in May 2003, the world’s largest professional network was bought by technology giant Microsoft for $26.2 billion in June 2016. At that time LinkedIn had more than 400 million members.
Currently, more than 140 job applications are submitted every second on LinkedIn, according to official data.
In May, the company said it was cutting 716 jobs and phasing out its jobs platform in the Chinese market as it reorganised its global operations amid waning demand.
Microsoft’s productivity and business processes division, which includes both its Microsoft Office business and revenue from LinkedIn, rose 13 per cent to $18.6 billion in the quarter that ended on September 30.
LinkedIn's revenue increased almost 8 per cent annually in the July-September period, although Microsoft did not reveal more details.
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1 Jeff Bezos $140 billion
2 Bill Gates $98.3 billion
3 Bernard Arnault $83.1 billion
4 Warren Buffett $83 billion
5 Amancio Ortega $67.9 billion
6 Mark Zuckerberg $67.3 billion
7 Larry Page $56.8 billion
8 Larry Ellison $56.1 billion
9 Sergey Brin $55.2 billion
10 Carlos Slim $55.2 billion
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Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
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Power: 450hp
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The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
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Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
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Insportz, Dubai, September 16-23
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Men
Saturday, September 16 – 1.45pm, v New Zealand
Sunday, September 17 – 10.30am, v Australia; 3.45pm, v South Africa
Monday, September 18 – 2pm, v England; 7.15pm, v India
Tuesday, September 19 – 12.15pm, v Singapore; 5.30pm, v Sri Lanka
Thursday, September 21 – 2pm v Malaysia
Friday, September 22 – 3.30pm, semi-final
Saturday, September 23 – 3pm, grand final
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Saturday, September 16 – 5.15pm, v Australia
Sunday, September 17 – 2pm, v South Africa; 7.15pm, v New Zealand
Monday, September 18 – 5.30pm, v England
Tuesday, September 19 – 10.30am, v New Zealand; 3.45pm, v South Africa
Thursday, September 21 – 12.15pm, v Australia
Friday, September 22 – 1.30pm, semi-final
Saturday, September 23 – 1pm, grand final
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The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
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Sat Sep 1 - UAE v Hong Kong, Oman v Singapore, Malaysia v Nepal
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Top investing tips for UAE residents in 2021
Build an emergency fund: Make sure you have enough cash to cover six months of expenses as a buffer against unexpected problems before you begin investing, advises Steve Cronin, the founder of DeadSimpleSaving.com.
Think long-term: When you invest, you need to have a long-term mindset, so don’t worry about momentary ups and downs in the stock market.
Invest worldwide: Diversify your investments globally, ideally by way of a global stock index fund.
Is your money tied up: Avoid anything where you cannot get your money back in full within a month at any time without any penalty.
Skip past the promises: “If an investment product is offering more than 10 per cent return per year, it is either extremely risky or a scam,” Mr Cronin says.
Choose plans with low fees: Make sure that any funds you buy do not charge more than 1 per cent in fees, Mr Cronin says. “If you invest by yourself, you can easily stay below this figure.” Managed funds and commissionable investments often come with higher fees.
Be sceptical about recommendations: If someone suggests an investment to you, ask if they stand to gain, advises Mr Cronin. “If they are receiving commission, they are unlikely to recommend an investment that’s best for you.”
Get financially independent: Mr Cronin advises UAE residents to pursue financial independence. Start with a Google search and improve your knowledge via expat investing websites or Facebook groups such as SimplyFI.
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