SAP has picked five Web 3.0 startups that reflect the direction of HR, including companies that provide ways to pay employees in cryptocurrency and use holographic images.
As SAP sees it, the future of work will involve Web 3.0 technologies, which include augmented and virtual reality, digital identity and cryptocurrency payroll systems.
During an SAP.io Demo Day Tuesday, it released the names of five Web 3.0 companies that will get technical integrations to SAP, including its SuccessFactors HR platform. They are not new startups but are further along in fundraising and have large enterprise customers, including SAP users.
Among them is Beem, a London-based company that makes an augmented reality (AR) platform with a unique approach to messaging and streaming. It can enable two-way communication if AR glasses are in use. Smartphones record what becomes a holographic image of the user, replicating "a physical meet-and-greet," said Janosch Amstutz, Beem's founder and CEO, in an interview.
Where work is headingSAP.iO, an accelerator that helps startups achieve technical integration with SAP platforms, acts as a pipeline to SAP customers and provides other help, vetted hundreds of startups before selecting these five. The collection of Web 3.0 companies, which utilize technologies such as AI, blockchain and AR and VR to operate in a decentralized environment that's less dependent on big tech or banks, point to where SAP believes the future of work is heading.
Technologies such as Beem will be important to SAP's HR customers, said Sallie Jian, the head of SAP.iO New York. "If I didn't believe that, I wouldn't be promoting the startups in our ecosystem," she said.
Blockchain credentialsOther startups selected include Veremark, which is based in London. It conducts pre-employment screenings and other background checks and provides a blockchain-based digital identification credential.
Veremark takes already-verified employment and background data and turns it into a blockchain-based digital credential that a candidate can reuse. In his presentation, Daniel Callaghan, CEO of Veremark, said the approach means shorter and less expensive turnaround times on background checks because data, as digital credentials, doesn't have to be checked again.
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