ShiftPixy's Innovative AI Solution Boosts Efficiency and Productivity in the Worker Acquisition Process

ShiftPixy, Inc. (Nasdaq: PIXY) (“ShiftPixy” or the “Company”), a Miami-based national staffing enterprise which designs, manages, and sells access to a disruptive, revolutionary platform that facilitates employment in the rapidly growing Gig Economy, today announced the successful beta implementation of its AI-powered recruitment system, leveraging ChatGPT’s open API, designed to address the growing gap in opportunity matching and recruitment efficiency.

For an overview of ShiftPixy’s AI recruiting engagement, please view this video.

Current statistics reveal a significant gap in the recruitment industry, with recruiters receiving an average of 250 resumes for each open position, but only 12% of applicants meeting job requirements. With over 27 million workers seeking opportunities in the US alone according to Harvard Business School, the need for a more efficient recruitment process is paramount.

ShiftPixy's AI recruiting system tackles this challenge head-on by meeting workers where they are, capturing and aligning the best candidates for each opportunity, and actively guiding workers through the hiring process to start their gig. The platform's sophisticated automation effectively streamlines capturing, qualifying, screening, and deployment in the recruitment process. By continuously tracking and analyzing activity and data, ShiftPixy's AI-driven recruiting platform is constantly learning and adapting to improve its effectiveness, leading to a more dynamic and efficient recruitment process for both job seekers and employers.

“There’s plenty of talk about how AI might do for business. We are focused on what we can do today with a high value application for AI in our business flow and it is only getting better” said Scott Absher, Co-Founder and CEO of ShiftPixy. “Our R&D has been to apply AI to human friction points in our human capital workflows. Where people lack speed or attention to the detail, our machine process is highly personal, results focused and always reliable.”

Watch Scott Absher’s recent interview with Market Scale about how AI technology can boost efficiency in recruitment here.

About ShiftPixy

ShiftPixy is a disruptive human capital services enterprise, revolutionizing employment in the Gig Economy by delivering a next-gen platform for workforce management that helps businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s more than 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.

Forward-Looking Statements

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. These forward-looking statements include, among other things, statements regarding the anticipated use of proceeds from the private placement, the anticipated closing date of the private placement and the anticipated filing and effectiveness date for a registration statement related to the resale of the common shares and common shares underlying warrants from the private placement. Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of the Company, could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties include, but are not limited to, risks associated with the nature of the Company’s business model; the Company’s ability to execute its vision and growth strategy; the Company’s ability to attract and retain clients; the Company’s ability to assess and manage risks; changes in the law that affect the Company’s business and its ability to respond to such changes and incorporate them into its business model, as necessary; the Company’s ability to insure against and otherwise effectively manage risks that affect its business; competition; reliance on third-party systems and software; the Company’s ability to protect and maintain its intellectual property; and general developments in the economy and financial markets. These and other risks are discussed in the Company’s filings with the SEC, including, without limitation, its Annual Report on Form 10-K, and its periodic and current reports on Form 10-Q and Form 8-K. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change, except as required by applicable securities laws. The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD. Further information on these and other factors that could affect the financial results of the Company, is included in the filings we make with the SEC from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of the Company’s website at https://ir.shiftpixy.com/financial-information/sec-filings, or directly from the SEC’s website at https://www.sec.gov. Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, the Company is alerting investors and other members of the general public that the Company will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in the Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.

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