Los Angeles, CA, May 4, 2021 — Suited, the AI-powered, assessment-driven recruiting network, has received honorable mention in the AI and Data category of Fast Company’s Fifth Annual 2021 World Changing Ideas Awards. Results of the awards were announced today, honoring the businesses, policies, projects, and concepts that are actively engaged and deeply committed to pursuing innovation when it comes to solving health and climate crises, social injustice, or economic inequality.
Suited is on a mission to advance a new, unbiased hiring standard in historically homogenous, professional services industries. In spaces like investment banking and law, certain students often find an easier path into prestigious firms by way of personal connections or elite degrees. Suited released its inaugural product for investment banking recruiting in early 2019 and now partners with more than a dozen major investment banks to help them more equitably and effectively source and assess talent. In December 2020, Suited launched its recruiting network in the legal space to expand its mission by enabling forward-thinking law firms to discover candidates with the highest potential, address the industry’s lack of diversity, and enable highly efficient recruiting practices.
A free service for candidates, Suited creates custom AI models that identify which key employee traits lead to high performance and cultural fit on a firm-by-firm basis. In both investment banking and law, Suited has succeeded in creating a screening metric that is both more predictive of performance and less biased than existing metrics like GPA or university rank.
“We are incredibly proud that our platform has been recognized by Fast Company as a World Changing Idea,” said Matthew Spencer, Suited co-founder and CEO. “The Suited network brings firms that compete for talent into a common ecosystem, expanding the talent pool for each firm and providing more equitable access and consideration for every candidate. The network effects that are created are crucial to driving industry adoption, making the Suited platform a job search necessity for any candidate interested in breaking into the industries we serve, creating a more widespread and unbiased standard for recruiting early talent.”
A panel of eminent Fast Company editors and reporters selected winners and finalists from a pool of more than 4,000 entries across transportation, education, food, politics, technology, and more. The 2021 awards feature entries from across the globe.
There is no question our society and planet are facing deeply troubling times. So, it’s important to recognize organizations that are using their ingenuity, impact, design, scalability, and passion to solve these problems", says Stephanie Mehta, editor-in-chief of Fast Company.
"Our journalists, under the leadership of senior editor Morgan Clendaniel, have discovered some of the most groundbreaking projects that have launched since the start of 2020," she continued.
About the World Changing Ideas Awards
World Changing Ideas is one of Fast Company’s major annual awards programs and is focused on social good, seeking to elevate finished products and brave concepts that make the world better. A panel of judges from across sectors choose winners, finalists, and honorable mentions based on feasibility and the potential for impact. With the goals of awarding ingenuity and fostering innovation, Fast Company draws attention to ideas with great potential and helps them expand their reach to inspire more people to start working on solving the problems that affect us all.