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Forbes
a day ago
- Business
- Forbes
The $70 Billion Blind Spot And Why VCs Are Betting Big On AI-Powered Compensation Management
INCHEON AIRPORT, SEOUL, SOUTH KOREA - 2018/06/12: A young boy communicating with a robot that is on ... More display at Incheon International Airport in Seoul / South Korea. The Guide Robot recognises languages; In addition to English, it can also answer Korean, Chinese and Japanese and recognise boarding cards that are scanned on the touch screen. (Photo by Jonas Gratzer/LightRocket via Getty Images) LightRocket via Getty Images Corporate America has an interesting inconsistency in its approach to technology adoption. While companies have embraced sophisticated AI tools for everything from customer service to inventory management, they continue to manage their largest expense category—employee compensation, which typically represents a significant portion of most companies' budgets—with Excel spreadsheets and manual processes that would seem antiquated in any other business context. This disconnect has created a massive market opportunity that venture capitalists are finally starting to recognize. CandorIQ's $4.8 million seed round is the latest sign that investors are waking up to a long-overlooked opportunity in compensation planning. While the category has seen growing interest— Ravio also recently raised €10.6 million—the market remains fragmented and difficult to navigate. Legacy platforms are entrenched, and implementation challenges are real. But the scale of the problem and CandorIQ's early traction suggest a shift is underway. The compensation management software market is experiencing rapid growth, but market research firms present dramatically different assessments of its current size and future potential. According to Research Nester , the compensation software market size was valued at USD 5.7 billion in 2024 and is projected to account for USD 29.9 billion in 2037, growing at around 13.6% CAGR during the forecast period. However, other sources present more conservative figures: P&S Market Research estimates the market generates USD 3.22 billion in 2024, expected to witness a growth rate of 9.8% during 2025-2030. The variation in market assessments is striking. Cognitive Market Research valued the compensation management software market at USD 3.50 billion in 2022, projecting it will reach USD 7.23 billion by 2030, registering a CAGR of 9.5%. These disparities likely reflect different methodologies for defining the market scope, suggesting the space remains fragmented and dominated by legacy players who built their platforms before the cloud computing revolution. The compensation software market is heating up, and it's not just because companies are spending more on talent. It's because the tools for managing that spend are outdated, fragmented, and failing to keep up. The competitive landscape is breaking into three clear lanes: 1. Legacy Players: SAP, Oracle, Paycom, and UKG still dominate through breadth and compliance depth. However, they suffer from poor user experience and inflexibility—traits that newer entrants exploit. 2. Global Workforce Platforms: Deel , Papaya Global , and Remote have raised hundreds of millions to offer bundled services like payroll, employer-of-record (EoR), and now compensation tooling. Deel's acquisition of Assemble underlines how compensation is becoming a strategic lever, not just a cost. 3. Next-Gen Specialists: Tools like Pave , Aeqium , and YC backed CandorIQ are taking a more focused approach to double down on AI features across compensation and headcount planning. Compensation Management Market Positioning, Strategic positioning based on AI/Technology Integration ... More vs. Market Approach Josipa Majic Predin CandorIQ, which just raised a $4.8M seed round led by Array Ventures and Y Combinator , is part of a new wave of platforms aiming to change that. While incumbents focus on compliance and bundled payroll stacks, CandorIQ is going deep on compensation itself – building a modern, AI-powered system that unifies HR, Finance, and Business leaders around a single source of truth. "A big part of why I started CandorIQ is I got into some of these systems and saw just how hard they were to use," said CEO Haris Ikram . "Even the 'modern' platforms required pulling data into spreadsheets, lobbing Slack messages, and chasing down last week's headcount file. I wanted to build something where teams could actually work together on the same system, in real time." The Implementation Reality Check While the market opportunity appears substantial, the reality of HR technology adoption presents significant challenges that temper overly optimistic projections. Nearly 1 in 4 organizations report that their new HR tech implementations fail to meet adoption expectations, according to a recent survey by the Sapient Insights Group. The barriers to adoption are multifaceted. HR leaders face challenges in adopting disruptive technologies, primarily due to implementation costs (23%) and a lack of a compelling use case (20%). Additional research reveals that 42% cite a lack of internal expertise as a barrier to adoption, and 54% report difficulties training staff on these systems. However, successful implementations do show promise. 55% of AI users report improved employee satisfaction, highlighting its potential when implemented securely and effectively. Furthermore, organizations achieving significant HR cost savings from their move to HR SaaS solutions, with 70 percent reporting savings of 10 percent or more, and 37 percent achieving savings of 20 percent or more. The AI Promise and Its Limitations The artificial intelligence angle represents both the biggest opportunity and the greatest risk for compensation management platforms. To be effective, these tools must integrate with payroll, HRIS, ATS, equity systems, and financial planning software. CandorIQ, for example, integrates with over 100 HR and finance tools, offering a unified decision layer without requiring teams to "cobble together spreadsheets or call in consultants". But integration also creates a moat for incumbents and multi-product suites like Rippling (which raised $2B+) that combine payroll, benefits, devices, and HR into one stack. This bundling strategy could marginalize best-in-class point solutions unless they build defensible niches or partner networks. The Human Factor: Resistance to Change Beyond technical challenges, the biggest drag on adoption may be cultural. HR and Finance are inherently conservative functions. Change is inherently uncomfortable for many people, especially when it disrupts established routines. Employees may resist adopting a new system, and resistance to change from employees who may be accustomed to traditional HR practices remains a primary obstacle. The idea of letting AI "guide" decisions about pay still feels like science fiction to many CHROs and CFOs. CandorIQ's approach—augmenting human insight rather than replacing it—might be more palatable to enterprise buyers. But inertia remains a real risk. Market Dynamics and Competitive Pressures The surge in funding for compensation management platforms reflects a broader shift in how companies view workforce planning. The evolution from treating HR as a cost center to recognizing workforce planning as a competitive advantage represents a fundamental change in how businesses think about human capital. This transformation creates both opportunities and challenges for existing players. Traditional HR information systems were built for compliance and record-keeping, not strategic decision-making. Platforms that can bridge the gap between operational efficiency and strategic insight have the potential to capture significant market share from established vendors. The integration challenge is particularly complex because compensation decisions touch every part of an organization. These platforms must connect with payroll systems, human resources information systems, performance management tools, and financial planning software. Success requires not just building great software, but creating an ecosystem that can adapt to the diverse technology stacks that modern companies have assembled over years of digital transformation. The Risks of Disruption Despite the compelling market opportunity, several factors could limit the success of AI-powered compensation management platforms. The first is the inherent conservatism of human resources and finance departments, which tend to move slowly on technology adoption, especially for systems that handle sensitive employee data. The competitive landscape itself presents another challenge. Well-funded global workforce platforms are bundling compensation management into comprehensive solutions that may offer better value propositions than standalone tools. When companies like Rippling raise over $2 billion to create integrated systems combining payroll, HR, devices, and benefits, it raises questions about whether specialized platforms can maintain independence. There's also the complexity of compensation itself. Pay structures vary dramatically across industries, company stages, and geographic markets. Building software that can handle the nuances of equity compensation, commission structures, international payroll, and regulatory compliance across multiple jurisdictions is extraordinarily difficult—a challenge that may favor platforms with broader resources and existing compliance infrastructure. Evolution, Not Revolution The surge in funding for compensation management platforms reflects a real market need, but success will likely come through evolutionary improvements rather than revolutionary disruption. The most successful companies will be those that can seamlessly integrate AI capabilities into existing workflows while addressing the fundamental coordination problems between HR and finance teams. The focus on collaboration between departments, rather than just automating individual tasks, suggests a sophisticated understanding of how compensation decisions actually get made in modern organizations. Whether this translates into market success will depend on execution, customer adoption, and the ability to compete against both established vendors and well-funded startups pursuing similar opportunities. "People spend is the largest line item in most companies' budgets, but it still gets treated like an afterthought," says Ikram. "We've seen clients save six figures in headcount costs within two months. Others cut the time it takes to run a compensation cycle in half. The strategic capabilities of people leaders are wildly under-leveraged—and it's time that changed." The ultimate test will be whether these platforms can deliver on their promises of transforming compensation management from a reactive, spreadsheet-driven process into a strategic advantage. For companies spending 70% of their budgets on people , the stakes couldn't be higher—and the opportunity couldn't be more compelling. As the market continues to evolve, the winners will likely be those who can best balance technological innovation with the practical realities of managing human capital in increasingly complex organizations.
South China Morning Post
a day ago
- South China Morning Post
South Korean police uncover bomb cache after father kills son at birthday party
What was meant to be a birthday celebration on Sunday in Incheon's Songdo neighbourhood ended in a shocking act of violence and the discovery of a cache of home-made explosive devices. According to police in South Korea , 63-year-old Cho fatally shot his 34-year-old son with a home-made shotgun during a family gathering attended by the son's wife, their two young children and several friends. The father fired two rounds into his son's chest and abdomen after stepping out briefly during the evening and returning with a gun he had crafted himself. After Cho fled the scene in a car, police apprehended him three hours later in Seoul's Seocho district. Inside the vehicle, officers discovered 10 more home-made firearms, 11 metal pipes likely intended as additional barrels and 86 rounds of improvised buckshot – some already loaded, according to Yonhap News TV. The investigation widened to Cho's home in Seoul's Dobong district, where police uncovered 15 improvised explosive devices. Constructed from plastic bottles filled with thinner and connected to timers and ignition devices, several were set to detonate at noon the next day. Authorities evacuated more than 100 residents and safely defused the explosives. When asked about his motive, Cho told investigators the killing stemmed from long-standing resentment between him and his son, rooted in a bitter divorce two decades earlier, Dong-A Ilbo reported.
Associated Press
2 days ago
- Business
- Associated Press
Ubitus Joins Partnership with Yonsei University and Trident Zoetic to Build Asia's First Quantum-GPU Hybrid Research Platform
SEOUL, South Korea--(BUSINESS WIRE)--Jul 21, 2025-- Ubitus K.K., a global leader in AI and cloud streaming, announced that it has signed a memorandum of understanding (MOU) led by Yonsei University and Trident Zoetic to establish Asia's first hybrid research platform integrating quantum computing. Bringing together leading technology partners from South Korea, France, Canada, and Japan, the project aims to accelerate the real-world application of high-performance hybrid computing powered by quantum systems and NVIDIA B200 GPUs. Global Partnership to Advance Hybrid Quantum-AI Infrastructure Led by Yonsei University and Trident Zoetic, the initiative brings together Pasqal (France), D-Wave (Canada), and Ubitus (Japan), with institutional support from the Incheon Metropolitan City and Incheon Free Economic Zone (IFEZ). The facility will be based at Yonsei's International Campus and aims to accelerate scientific breakthroughs in drug discovery, biotechnology, and advanced materials. Yonsei contributes its academic expertise and infrastructure, while Trident Zoetic serves as project lead and investor, coordinating a global research network. Quantum and GPU: Complementary Technologies for Future Science The platform will integrate three quantum computing systems—the IBM 127-qubit superconducting quantum computer, Pasqal's neutral atom platform, and D-Wave's quantum annealing system—alongside a high-performance GPU cluster, forming a unified hybrid computing environment. Quantum systems excel at combinatorial optimization and complex simulations, while GPUs deliver scalable performance for deep learning and AI inference. Together, these complementary technologies enhance algorithmic efficiency and accelerate the path from academic research to real-world applications. Ubitus Delivers AI Infrastructure and Hybrid Orchestration Ubitus will supply and integrate a 512-node, 4,096-GPU NVIDIA B200 cluster, delivering the platform's core AI computing power. The system will operate under a GPU-as-a-Service (GPUaaS) model and support hybrid orchestration between AI and quantum workloads for use cases such as quantum-enhanced learning, drug modeling, and materials simulation. Ubitus will also manage deployment, architecture, and long-term operations. Strategic Milestone for East Asia's Quantum-AI Ecosystem This collaboration represents a critical step toward hybrid quantum computing in East Asia, bridging the performance of quantum processors with the flexibility of GPU infrastructure. It underscores the region's growing leadership in next-generation computing. ' This partnership reflects our commitment to next-generation infrastructure,' said Wesley Kuo, CEO of Ubitus. 'We are proud to support the foundation of a new hybrid computing ecosystem that will drive scientific and industrial innovation across Asia.' About Ubitus As a member of the NVIDIA Connect program, Ubitus leverages NVIDIA's support and cutting-edge GPU technology to accelerate AI innovation. The company delivers advanced AI solutions, including UbiGPT (a large language model), UbiONE (an AI-powered avatar creation platform), and UbiArt (an image generation tool), providing customized solutions to meet the diverse needs of various industries. As a cloud gaming pioneer, Ubitus enables Nintendo and other game companies to establish cloud gaming services and supports the global streaming of multimedia content, including interactive and virtual reality experiences. View source version on CONTACT: TEL: +886-2-2717-6123 (Taipei) +81-3-6435-3295 (Tokyo) Media contact:[email protected] Business inquiry:[email protected] Website: KEYWORD: SOUTH KOREA TAIWAN ASIA PACIFIC INDUSTRY KEYWORD: APPS/APPLICATIONS TECHNOLOGY SOFTWARE NETWORKS HARDWARE UNIVERSITY DATA MANAGEMENT EDUCATION ARTIFICIAL INTELLIGENCE SOURCE: Ubitus K.K. Copyright Business Wire 2025. PUB: 07/21/2025 02:10 AM/DISC: 07/21/2025 02:10 AM
Malay Mail
2 days ago
- Malay Mail
Father kills son in rare South Korea shooting; police arrest suspect, defuse bomb
SEOUL, July 21 — A fatal domestic shooting in South Korea over the weekend ended with a man dead, his father arrested, and an apartment block evacuated due to a bomb threat. At around 9.30pm on Sunday, police in Incheon responded to an emergency call about a man who had allegedly shot his own son in a high-rise in Songdo International City, the Korea Herald reported. The victim, believed to be in his 30s, was found in critical condition and later died in hospital after suffering cardiac arrest, according to the Incheon Yeonsu Police Station. The suspect, identified only as the victim's father in his 60s, fled the scene with the weapon in hand. Police arrested the man at around 12.20am Monday in Seoul's Gangnam-gu district, following a three-hour manhunt and a 30km pursuit. During questioning, the suspect claimed he had planted an explosive in his Dobong-gu apartment in northern Seoul. Police evacuated 105 residents from the building, and the bomb squad located and safely removed a homemade device containing accelerants and a timer. Images circulating online showed police and emergency units outside the Songdo apartment, briefly fuelling rumours of a mass shooting before authorities confirmed a single fatality. South Korea rarely sees gun violence due to strict firearm controls, and police described the weapon used as a crude, pipe-shaped firearm. Investigators have sent both the firearm and the explosive materials to the National Forensic Service to determine their origins, while the suspect remains in custody for murder and weapons charges.
Forbes
14-07-2025
- Entertainment
- Forbes
Stray Kids Member Makes Billboard Chart History
Stray Kids' Hyunjin debuts on the Hot Rock & Alternative Songs chart with 'Always Love' alongside ... More D4vd, becoming the third South Korean soloist to appear on the tally. INCHEON, SOUTH KOREA - SEPTEMBER 19: Hyunjin of boy band Stray Kids is seen departing for Italy for the VERSACE 2025 SS collection fashion show at Incheon International Airport on September 19, 2024 in Incheon, South Korea. (Photo by Han Myung-Gu/WireImage) For years now, Stray Kids has stood out as one of the most successful K-pop groups in the world. The band is one of only a handful to reach No. 1 on the Billboard 200, a feat it has accomplished several times. While Stray Kids may be counted among the bestselling K-pop acts in American history, the members that make up the group are still just beginning to introduce themselves to the American public. This week, Hyunjin — one of the eight singers in the chart-topping act — scores a hit on his own on a Billboard tally, and in doing so joins a very exclusive club of South Korean talents. Hyunjin Charts His First Rock Hit in America Hyunjin scores his first hit on the Hot Rock & Alternative Songs chart this frame, as 'Always Love,' a collaboration with D4vd, opens at No. 49. That's the second-to-last position on the 50-spot ranking, which details the most consumed rock and alternative tunes in the U.S., but as it arrives, 'Always Love' becomes an important and historic hit. Hyunjin Joins J-Hope and Suga Hyunjin is just the third South Korean solo musician to appear on the Hot Rock & Alternative Songs tally. J-Hope became the first in July 2022, when 'More' and his track 'What If…' reached the ranking in back-to-back period. He remains the only soloist from South Korea to appear on the Hot Rock & Alternative Songs list more than once. The following summer, Suga — another BTS member — joined Halsey on 'Lilith (Diablo IV Anthem),' which at one point neared the top 10. BTS and Hyunjin Claim the Same Number of Hits Looking at all K-pop acts, Hyunjin is now just the fourth name to appear on the Hot Rock & Alternative Songs chart. The first musical figure from South Korea to reach the tally was BTS. The Grammy-nominated boy band joined Coldplay on 'My Universe,' which spent half a year on the ranking and still stands as the only No. 1 to credit any K-pop musicians.
