Whether you're guessing which style of bra will sell faster or which job candidate will thrive at your company, AI can help with that. There are countless ways to use artificial intelligence at your business-so many, in fact, that the possibilities can be overwhelming. That's why we're starting with the basics. Here's how seven very different companies are using AI to help tackle essential problems that most businesses experience.
AI helps with recruiting.
Recruiting used to be a major pain point for Barge Design Solutions, an engineering and architecture firm based in Nashville, Tennessee. "There's never been such a thing as a people pipeline," CEO Bob Higgins says. "We don't have 10 people waiting for every job we postwe have to go find them." Then Higgins wondered if AI could help. He and his HR team overhauled the company's entire recruiting process over a few weeks. Using OpenAl's ChatGPT, they made job postings as search-friendly and appealing to job-seekers as possible. They also used ChatGPT to update their interview questions, and used a proprietary AI tool to search for external candidates that shared characteristics with the firm's top-performing employees.
The new process was a resounding success. Consider this comparison: Before the AI overhaul, Barge tried to fill an open role-and after reviewing 111 applicants, just five were referred for interviews. None were hired. After the AI overhaul, they got more than 250 applicants for a role, 118 were referred for interviews, and five were hired. "For the first time in my career, there are 14 other people in the pipeline that we can call back when the next position is posted," Higgins says.
AI improves customer service.
Diese Geschichte stammt aus der July - August 2024-Ausgabe von Entrepreneur US.
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Diese Geschichte stammt aus der July - August 2024-Ausgabe von Entrepreneur US.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
How Small Shops Take Big Risks - It's not easy for mom-and-pops to try something new, because they rarely have a safety net to fail.But there are ways to innovate cautiously-as one small business on our list, All My Heart tattoo studio, has found.
The Charlotte, North Carolina, studio is airy and suffused with natural light. In the reception area, there are modular chairs, midcentury couches, and a vase of fresh flowers on a Japanese-influenced cabinet. But the real surprise goes beyond aesthetics. All My Heart's owner, Graham Beech, isn't just playing with a new look; he's trying out a whole new business model. Historically, tattoo shops have wanted to control the clientele, and use the tattoo artist as kind of a cog in the wheel, Beech says. What's different about our business is that the client is the artist, and they have their own individual clients.
5 Ways to Multitask Your Fall - From a corporate office to working from the living room, Emmy Award winner Mario Armstrong has five new products designed to make putting in the hours more enjoyable.
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You Can Hire Like Netflix - The streaming platform built an incredible team with a strategy called
Looking for a job? ClassDojo has 15 positions open, but heads up: The bar is death zone high, and they're in no rush to hire. The children's education company has a team of 220 and a hiring rate of 0.09% of those who apply.How can a company grow while hiring that slowly? The answer is "talent density", a concept that's gaining steam lately.
Speedy Growth Killed My Startup - We seemed to be rocking it-lots of press, major partnerships. Then we learned the harsh consequences of overlooking our customers.
Three months after I launched my company, we were featured in The New York Times. Other national outlets followed. The attention led to partnerships with Shake Shack, Bombas, Urban Outfitters, and hundreds of other major brands.You might think this sounds good. I sure did when it happened. Hockey stick growth is a sign of success, right? But it wasn't. My company, This App Saves Lives, had fallen into one of the most surprising and ultimately fatal traps for entrepreneurs: We grew before truly understanding our product-market fit. That mistake would ultimately result in the demise of our business.
How to Hire for the Future - Small businesses are struggling to find quality labor. So flip the conversation: Show workers how your business will set them up for opportunity.
Small businesses have a hiring problem. According to the July monthly jobs report from the National Federation of Independent Business (NFIB), 19% of small businesses rank the inability to find quality labor as the single most important issue facing their company, while 38% reported job openings they could not fill. Overall, 49% reported few or no qualified applicants for the positions they were trying to fill.
Three Pivots to $100 Million - How do you find a working business model? Do it like Rowan-a brand that reinvented itself many times before finally piercing the ear-piercing market
If you have a tween girl, you've probably heard of Rowan. It's the cool brand for piercings, where licensed nurses insert hypoallergenic studs into thousands of ears every day. With more than 500 employees, it's on track to have 65 stores and an annual run rate of $100 million in revenue this year.But in 2017, Rowan was just a fledgling startup with a great idea and a bad business model. It survived because founder Louisa Schneider was willing to pivot, and pivot, and pivot again, until its mission, profit, and market all clicked into place.
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