Pearson announce acquisition of leading AI company Faethm
As a result of the acquisition, Faethm will sit at the heart of Pearson’s new Workforce Skills division.
With its market-leading data, insights and AI capabilities, Faethm will be able to power the next generation of Pearson’s lifelong learning products. These products are focused on meeting the rapidly changing needs of today’s workforce which have been catalysed by the pandemic and the introduction of remote working.
It also focuses on bridging the global skills gap which in the future will help employers find more people suitable for potential positions in their organisations.
"We are delighted to be accelerating our mission and impact with Pearson," said Michael Priddis, Faethm's Chief Executive Officer.
"Integrating AI-driven insights from the world's most sophisticated future of work platform with the world's learning company will propel the pace of upskilling and reskilling for any organisation, enabling their employees to benefit from the opportunities that tomorrow brings," he added.
Marking an important step in Pearson’s digital strategy
As one of Australia’s highest-profile tech companies, Faethm has shown immense growth since its launch less than four years ago. The company has grown to serve customers in 21 industries in 26 countries.
This acquisition marks an important step in Pearson’s digital strategy. It supports the company’s continued commitment to meeting the lifelong learning needs of people globally.
"Faethm has helped many organizations understand what the future of work looks like," said Greg Miller, Faethm’s Executive Director.
He continued: "The next question we're often asked is: now that we know our workforce needs, how do we help our people upskill and adapt to the changing world? With Pearson, we can identify where the world's future workforce needs to be and help it get there."
Sophisticated AI and analytics services
With its sophisticated AI and analytics services, Faethm help governments, companies, and workers understand the dynamic forces shaping the labour market. This can be anything from technological disruption to economic shocks such as COVID and climate change.
Armed with these insights, customers can make data-driven decisions to navigate those changes and upskill or reskill their workforce.
"Pearson and Faethm believe that people are a company's greatest asset, and we want to ensure everyone is prepared for the future of work," said Michael Howells, President of Workforce Skills.
"Together, Faethm's analytics capabilities and Pearson's learning products will help companies of all sizes understand what skills they need and how to develop them. In this digital age, we want to help the world's workforce unlock its potential and ensure that companies have highly skilled employees who can work alongside new technology. This is another key building block in Pearson's strategy to help learners develop their talent and skills at every life stage, from school through to work," he added.
Priddis and Miller will join the leadership team of Pearson’s new Workforce Skills division. The pair will play a key role in Pearson’s growth and mission.