Borderless AI, the AI-powered startup in the Employer of Record (EOR) space, announced that it has raised $27 million in seed funding to leverage the power of generative AI to automate and accelerate the process of onboarding, managing, and paying international team members. The company maintains that its AI agent, Alberni, can solve complex problems and automate processes in any country around the world within 10 minutes; the market norm is 7-10 business days.

The $27 million seed round was led by Susquehanna and Aglaé Ventures, the venture arm of Bernard Arnault, currently the richest man in the world, with participation from additional institutional investors. The company was founded by serial entrepreneur Willson Cross and Lyft’s founding investor Sean Aggarwal. Borderless AI’s launch comes at a time of increased investment and interest in vertical-specific AI, with numerous companies like Harvey for legal services and Sierra for customer service, leading the way and drawing attention to the critical need for AI agents across verticals.

“As the first company in the world to bring AI agents to HR, we are firm believers that AI agents will become commonplace for companies just like websites in the 90s and mobile apps in the 2000s,” said Willson Cross, Co-founder and CEO of Borderless AI. “Leveraging conversational AI, our platform automates many of the complexities within the global HR stack, without hallucinations, such as payroll set-up, time-off requests, or employment agreement generation. Our AI is fluent in a multitude of languages, allowing for geographic expansion and successful deployment of business operations around the globe.”

Alberni is available in 170 languages and cuts the time it takes to generate employment agreements, allowing a company’s legal and HR teams to move faster, save money and ensure compliance in the onboarding and payments processes. Alberni can also answer complex employment law, finance or tax queries, an important need for the distributed global workforce and employers looking to scale quickly.

“Our mission is to bring economic empowerment to the world,” said Sean Aggarwal, Executive Chairman and Co-founder of Borderless AI. “With our AI first approach to HR, we’re removing geographic barriers and democratizing access to the best job opportunities for talented people around the globe, and we’re excited to see the possibilities it opens for employers and employees alike.”

Borderless AI is serving organizations of all sizes and across industries, and claims popular dating app Raya; MG2, a 500+ employee-size, global architecture firm; and Affiniti, a venture-backed fintech startup as customers.

The company worked with Omeed Malik and his investment bank, Farvahar Partners, in raising the majority of the round.

Borderless AI is also a strategic partner of Large Language Model (LLM) leader Cohere and is the only partner deploying Cohere’s models to global HR. Borderless AI has developed its proprietary data platform that augments Cohere’s LLM, putting trust and accuracy at the forefront of the technology.

“The HR industry is ripe for innovation and Borderless AI is one of those companies that has the rare combination of industry expertise, product innovation, and a deeply committed and capable founding team,” said Miyuki Matsumoto, Partner at Aglaé Ventures. “Globalization isn’t going anywhere and companies will rely on seamless technology like Borderless AI and Alberni to help them scale successfully on a global level. We strongly believe that AI agents for HR will become mainstream and we’re thrilled to be a part of this journey.”

With an increased demand in technologies that help companies navigate complex issues that arise from hiring international team members, such as employment agreements and employee tax forms, Borderless AI’s technology is a key differentiator in the EOR market, accelerating the future of work and allowing companies to understand complex queries that previously took days or weeks to navigate.

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AI is all around us and it’s not new, but its capabilities have reached a stage of proficiency and usefulness that rivals human potential. From automating routine tasks to revolutionizing complex decision-making processes, AI’s capabilities are reshaping industries and redefining professional roles.

Much could be said about the extent to which such advancements have and will impact industry at-large, but for a general understanding of how AI is changing work, consider the following key points:

Workforce Transformation and AI Integration
Automation of routine, repetitive tasks (i.e. manufacturing, food processing, etc.) and data-heavy jobs like clerical work and data entry are becoming increasingly more common. In most cases, these automations are freeing up employees to focus more directly on product quality, customer support, and innovation.

Industry-Specific Applications 
Where significant automation has already occurred, for instance, automobile manufacturing, AI will likely serve to increase efficiencies, rather than replace workers. However, in creative sectors and industries that, to this point, have relied on complex human input (such as coding and content generation), AI is poised to make a big splash.

AI Fluency and Recruiting
Due to the rate at which AI solutions are being introduced into business settings, companies are increasingly focusing on recruiting talent that is proficient in creating and using Artificial Intelligence to accomplish company objectives.

Workforce Diversification
The globalization of the workforce, facilitated by AI and digital technologies, is leading to more diverse and geographically dispersed teams. This decentralization offers companies access to a broader talent pool, but presents challenges in managing a remote workforce.

SOURCE: NEI Global Relocation

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UiPath, the enterprise automation software company, announced the top five trends in Artificial Intelligence (AI) and automation that will transform the Indian workforce in 2024. 2023 was the year of AI hype, and 2024 will be the year when we realize the full potential of AI. 

Arun Balasubramanian, Vice President and Managing Director, India and South Asia, UiPath said, “In the realm of digital transformation, the synergy between automation and AI is unlocking unprecedented value for enterprises worldwide. This isn’t merely about scaling up automation; it’s about unleashing the full potential of these technologies to revolutionize how we work. As we navigate the evolving landscape, it’s clear that the future lies in the seamless integration of AI and automation.”

“The future belongs to those who harness the power of AI and automation to navigate complexity, allowing a dynamic collaboration between human ingenuity and robotic efficiency. Navigating through the AI landscape has become more efficient through evolving technologies such as process mining, task mining, and co-pilots. As we pioneer safe AI, we’re shaping a future where enterprises thrive through innovation, efficiency, and the harmonious collaboration of people and machines,” Balasubramanian added.

LLMs, Co-pilots to transform work

According to the UiPath Automation Generation Survey 2023, 91% of Baby Boomer respondents think that automation would help them do their jobs better, while 87% of Generation Z, 86% of Millennial, and 84% of Generation X (84%) respondents feel similarly.

These sentiments would echo through 2024, as enterprise software providers are already integrating Large Language Models (LLMs). One notable application is copilots—virtual desktop assistants that comprehend individuals’ work contexts and tasks, communicating in plain language. Like the best human assistants, these copilots can rapidly learn to auto-complete various activities and proactively enhance workflow efficiency. UiPath, for example, incorporates Autopilot into tools for various users, streamlining tasks like data entry and email management.  With such significant developments, LLMs and Gen AI solutions are all set to reinvent how we work with machines and usher in a new boom in global productivity.

Safe AI becomes a focus of action and innovation

The C-suite will prioritize countering AI risks, emphasizing safe AI to improve the risk/benefit equation. Expect a significant acceleration in AI governance adoption, with enterprise software companies integrating robust AI controls. Technology providers will enhance human-in-the-loop capabilities for improved human review. In 2024, organizations are shifting from aspirational to implementation phases, driven by innovative approaches. The Indian government already emphasizes innovation and is formulating policy frameworks like the National Artificial Intelligence Strategy for responsible AI adoption, highlighting a commitment to transparency and accountability.

The C-suite seizes AI’s value with the help of automation

Today, executives are exhilarated by the potential of AI to drive growth, and innovation, and revolutionize various aspects of work, enhancing productivity in unprecedented ways. In 2024, their primary focus will shift towards translating the potential of AI into tangible returns. Per a Nasscom report, AI adoption is poised to add $500 billion to India’s GDP by 2025. Automation is proving to be a swift enabler of various AI benefits. As companies in 2024 zero in on realizing their AI ambitions, they will increasingly turn to enterprise automation to facilitate the achievement of their objectives.

Process and task mining for real-time visibility 

Until recently, enterprise managers grappled with poor visibility into end-to-end work processes, hindering problem diagnosis and issue resolution. Process intelligence, powered by AI in advanced process, task, and communications mining, has transformed this landscape. Now, organizations can continually monitor and evaluate processes comprehensively, gaining insights and identifying optimal solutions for efficient workflows. Leading innovators are even creating “digital twins” of their operations, providing dynamic real-time visibility, and modeling potential workflow improvements before implementation. This innovation is anticipated to drive increased adoption in 2024 and beyond.

Redefining work by building new relationships with machines

The rise of large language models (LLMs) is expected to significantly impact the future of work, with the potential to automate up to 30% of current tasks by 2030. As LLMs continue to advance, they will likely be applied in various professions, and the workforce will need to adapt to new roles and responsibilities. Key areas of focus for thought leaders, policymakers, and education professionals include learning from professions further along the adoption path, addressing the labor implications of a virtual workforce, and redefining the best skillsets for the future. By 2024, these efforts will begin to reshape the workforce, requiring workers to develop new skills and adapt to new roles, while also addressing the needs and views of employees, employers, unions, governments, and the public at large.

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Process automation SaaS company Nintex announced the appointment of Niranjan Vijayaragavan as Chief Product Officer. He brings more than two decades of technology leadership experience to Nintex, having driven product strategy, vision and execution at organizations like Microsoft, BCG, Expedia, Avalara and—most recently—at Nuna, a health-tech company, where he had a relatively short stint of 7 months.

Niranjan will work closely with the executive team and the board to help define Nintex’s product strategy and execute for scale. Process automation is being transformed through artificial intelligence, creating new opportunities for innovation and growth.

“To lead in this new era of automation and artificial intelligence requires someone with perpetual curiosity and a growth mindset,” said Amit Mathradas, Nintex CEO. “Niranjan, is a proven product leader who’s capable of building innovative products and solutions at scale.”

“Despite step changes in technology, several sectors and domains remain under-automated, impacting the pace and effectiveness of their businesses. Many SaaS companies are exploring to serve this need, but few can do it at scale in the way Nintex can,” said Niranjan Vijayaragavan, Nintex CPO. 

Nintex serves over 10,000 public and private sector organizations across 90 countries. 

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The mass layoffs, hiring freezes, the quiet quitting or the great resignation – it hasn’t been easy for today’s workforce, resulting in employee burnout, low productivity and host of other issues. A recent survey of 6400 workers across the world indicates that employees are increasingly turning to AI for aid. 

The survey commissioned by UiPath, an enterprise automation software company, found that nearly 60% of respondents believe that automation can address burnout and improve job fulfillment, and 57% report that they view employers that use business automation to help support employees and modernize operations more favorably than those that do not.

This comes as 28% of global respondents report that they have been asked to take on more tasks in the past six months due to layoffs and hiring freezes. About the same number of employees (29%) around the world report being negatively affected by burnout. 

The survey points to the emergence of the Automation Generation as more employees lean on AI tool to get their jobs done.

According to the survey, the Automation Generation does not represent a specific age or demographic, but rather, the professionals embracing AI and automation to be more collaborative, creative, and productive. This generation of workers wants these technologies to enrich their work and personal lives and prevent them from feeling like robots themselves.

Thirty-one percent of all respondents are already using business automation solutions at work. Of these workers comprising the Automation Generation, 87% feel like they have the resources and support needed to do their job effectively and 83% believe business automation solutions can help address burnout and enhance job satisfaction.

Younger employees are more receptive to the potential of AI-powered automation in helping them at work, with close to 70% of Gen Z workers thinking that automation would help them do their jobs better. Only about 44% of Baby Boomer respondents feel similarly. 

Brigette McInnis-Day, Chief People Officer at UiPath, said,

“Disruption in the workplace and macroeconomic factors often mean employees are asked to bear that burden by doing more with less—but it doesn’t need to be that way. The employees of Automation Generation are embracing AI-powered automation so they can better manage their workloads, excel in their careers, and improve their work-life balance. Businesses that deploy AI in an open, flexible, and enterprise ready way are best positioned to attract and retain the types of employees that will help them thrive in an automation-first world. Automation is a key differentiator for companies to attract and retain by empowering employees and driving engagement.”

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