In an example embodiment, a solution that automatically predicts an industry for a candidate company is provided. An existing industry classifier is trained using a first machine learning algorithm, the first machine learning algorithm taking as input first training data and existing industries listed in an industry taxonomy. A new industry classifier is trained using a second machine learning algorithm, the second machine learning algorithm taking as input second training data and new industries listed in an industry taxonomy. Then the candidate company is fed into the existing industry classifier, producing one or more predicted existing industries corresponding to the candidate company. The candidate company is also fed into the new industry classifier, producing one or more predicted new industries corresponding to the candidate company. One or more final predicted industries are selected from among the one or more predicted existing industries and the one or more predicted new industries.
Please help me write a proper abstract based on the patent claims. CLAIM: 1. A computerized method for automatically predicting an industry for a candidate company, the method comprising: training an existing industry classifier using a first machine learning algorithm, the first machine learning algorithm taking as input first training data and existing industries listed in an industry taxonomy; training a new industry classifier using a second machine learning algorithm, the second machine learning algorithm taking as input second training data and new industries listed in the industry taxonomy; inputting the candidate company into the existing industry classifier, producing one or more predicted existing industries corresponding to the candidate company; inputting the candidate company into the new industry classifier, producing one or more predicted new industries corresponding to the candidate company; and selecting one or more final predicted industries from among the one or more predicted existing industries and the one or more predicted new industries. 2. The method of claim 1, wherein the selecting includes eliminating any of the one or more predicted new industries, from the one or more final predicted industries selected, that do not share a parent industry with at least one of the one or more predicted existing industries. 3. The method of claim 2, wherein the existing industry classifier is trained to output a confidence score for each of the one or more predicted existing industries and the selecting includes using the confidence score for each of the one or more predicted existing industries. 4. The method of claim 1, wherein the first and second machine learning algorithms are binary logistic regression algorithms. 5. The method of claim 1, wherein the first training data includes profiles from a social networking service, each profile including an existing industry that is extracted and used as a label for the profile when input to the first machine learning algorithm, each profile further including one or more additional fields from which one or more features may be extracted and used in the training by the first machine learning algorithm. 6. The method of claim 5, wherein, for a profile from the social networking service that is a member profile, the additional fields include job title and one or more skills. 7. The method of claim 5, wherein, for a profile from the social networking service that is a company profile, the additional fields include a company name, description, and one or more tags. 8. The method of claim 1, wherein the second training data is augmented by extracting terms from fields of profiles in the second training data and using the extracted terms to search one or more third party information sources for new industry candidates. 9. The method of claim 8, wherein the second machine learning algorithm utilizes a Word2Vec model to select from among the new industry candidates. 10. A system comprising: a computer-readable medium having instructions stored there on, which, when executed by a processor, cause the system to: train an existing industry classifier using a first machine learning algorithm, the first machine learning algorithm taking as input first training data and existing industries listed in an industry taxonomy; train a new industry classifier using a second machine learning algorithm, the second machine learning algorithm taking as input second training data and new industries listed in the industry taxonomy; input a candidate company into the existing industry classifier, producing one or more predicted existing industries corresponding to the candidate company; input the candidate company into the new industry classifier, producing one or more predicted new industries corresponding to the candidate company; and select one or more final predicted industries from among the one or more predicted existing industries and the one or more predicted new industries. 11. The system of claim 10, wherein the selecting includes eliminating any of the one or more predicted new industries, from the one or more final predicted industries selected, that do not share a parent industry with at least one of the one or more predicted existing industries. 12. The system of claim 11, wherein the existing industry classifier is trained to output a confidence score for each of the one or more predicted existing industries and the selecting includes using the confidence score for each of the one or more predicted existing industries. 13. The system of claim 11, wherein the first and second machine learning algorithms are binary logistic regression algorithms. 14. A non-transitory machine-readable storage medium comprising instructions, which when implemented by one or more machines, cause the one or more machines to perform operations comprising: training an existing industry classifier using a first machine learning algorithm, the first machine learning algorithm taking as input first training data and existing industries listed in an industry taxonomy; training a new industry classifier using a second machine learning algorithm, the second machine learning algorithm taking as input second training data and new industries listed in the industry taxonomy; inputting a candidate company into the existing industry classifier, producing one or more predicted existing industries corresponding to the candidate company; inputting the candidate company into the new industry classifier, producing one or more predicted new industries corresponding to the candidate company; and selecting one or more final predicted industries from among the one or more predicted existing industries and the one or more predicted new industries. 15. The non-transitory machine-readable storage medium of claim 14, wherein the selecting includes eliminating any of the one or more predicted new industries, from the one or more final predicted industries selected, that do not share a parent industry with at least one of the one or more predicted existing industries. 16. The non-transitory machine-readable storage medium of claim 15, wherein the existing industry classifier is trained to output a confidence score for each of the one or more predicted existing industries and the selecting includes using the confidence score for each of the one or more predicted existing industries. 17. The non-transitory machine-readable storage medium of claim 14, wherein the first and second machine learning algorithms are binary logistic regression algorithms. 18. The non-transitory machine-readable storage medium of claim 14, wherein the first training data includes profiles from a social networking service, each profile including an existing industry that is extracted and used as a label for the profile when input to the first machine learning algorithm, each profile further including one or more additional fields from which one or more features may be extracted and used in the training by the first machine learning algorithm. 19. The non-transitory machine-readable storage medium of claim 18, wherein, for a profile from the social networking service that is a member profile, the additional fields include job title and one or more skills. 20. The non-transitory machine-readable storage medium of claim 18, wherein, for a profile from the social networking service that is a company profile, the additional fields include a company name, description, and one or more tags.