Economy06:00 · 1h ago

Joint Israel Launches AI Tools to Help Israelis Assess Business Viability and Job Opportunities

Calcalist

Translated & summarized from Calcalist by baba

Key points

01Joint Israel developed Biz Data, an AI tool analyzing data to assess business viability for entrepreneurs.
02Biz Data provides detailed cost, revenue, competition, and marketing insights for specific business ideas.
03Jobify, another AI system, helps job seekers improve resumes and find suitable jobs based on skills.
04Employers and local authorities use Jobify to match candidates and analyze labor market trends.
05Joint Israel’s employment division pilots these tools as government social program experiments.
06The article calls for a national government initiative to develop AI tools to enhance public services and economic planning.

In this story

OrganizationsJoint Israel, Ministry of Economy, National Digital Directorate, Joint-Tavt, AllJobs

PlacesIsrael, Ness Ziona, Tel Aviv, Hod Hasharon

The story · English

Many Israelis dream of opening small businesses like coffee carts, but lack reliable data to assess profitability and market conditions. Joint Israel, in collaboration with the Ministry of Economy and the National Digital Directorate, has developed Biz Data, an AI-powered platform that analyzes extensive government and business data to provide detailed financial and market insights for prospective entrepreneurs. Users can input specific business details to receive customized forecasts on costs, revenues, competition, and marketing strategies, helping them make informed decisions.

The author tested Biz Data for opening a coffee cart near his home and found that despite moderate competition, the expected monthly revenue of 60,000 shekels would yield a net profit under 9,000 shekels after expenses, highlighting the challenges of such ventures.

In addition, Joint Israel offers Jobify, a larger AI system that aggregates data from major employers and job boards to assist job seekers in improving resumes, identifying relevant skills, exploring suitable job openings, and understanding salary ranges. Employers and local authorities can also use Jobify to match candidates and analyze labor market trends, potentially guiding workforce training programs.

These tools exemplify how AI integrated with real-time data can enhance public services and economic decision-making. Joint Israel’s employment arm, Joint-Tavt, spearheads these innovations, serving as a government sandbox for social programs. The article argues for a national initiative to develop similar AI tools across government ministries to improve public services and economic planning, urging the next Israeli government to establish a dedicated unit to harness data and AI effectively.

The author concludes that such AI-driven platforms can reduce reliance on intuition, provide clarity amid uncertainty, and ultimately improve the quality of life and economic outcomes for Israelis.

Read the original at Calcalist