When companies make mistakes, customers often write reviews about it online. Some companies have started responding to customer reviews, but do these responses affect the ratings that customers give them? According to a study of hotel reviews on TripAdvisor, yes: When hotels start responding, they receive 12% more reviews and their ratings increase by an average of 0.12 stars (on a 1-to-5 scale). These gains may seem small, but they can have a significant effect on the hotel’s rating, due...| Harvard Business Review
Many have wondered about — and feared — the impact that gen AI will have on labor markets. Some compare it to past innovations, like robots, whose effects have been relatively modest, while others have forecasted that its impacts will be more long-ranging, given gen AI’s fundamental ability to improve itself over time. New research analyzed over a million job posts for online gig workers to see what affect the introduction of tools like ChatGPT and image-generating AI have already had o...| Harvard Business Review
Studies involving 3,268 consumers showed that responsible AI can generate significant economic returns, and companies should reconsider their resource allocation in product design. Embedding responsible AI into brand and business strategy, and aligning with partners who prioritize ethical practices, can strengthen credibility and differentiation. Responsible AI practices can also serve as a buffer against potential setbacks and help navigate the evolving regulatory landscape. Companies invest...| Harvard Business Review
Reprint: R0907Q Traditional metrics don’t capture many of the challenges and opportunities in store for U.S. companies and the national economy. The authors, from Deloitte, present a framework for understanding the forces that have transformed business over the past 40 years—and an index for gauging their impact on performance.| Harvard Business Review
Big data, the authors write, is far more powerful than the analytics of the past. Executives can measure and therefore manage more precisely than ever before. They can make better predictions and smarter decisions. They can target more-effective interventions in areas that so far have been dominated by gut and intuition rather than by data and rigor. The differences between big data and analytics are a matter of volume, velocity, and variety: More data now cross the internet every second than...| Harvard Business Review
Email has become the bane of the 21 st century workers’ existence, but by making a few changes to how we process e-mail, we can take back time in our workday. For starters, move every email out of your inbox the first time you read it, so you don’t run the risk of re-reading it later, thus wasting time. Turn off distracting notifications and instead check your email hourly, setting aside 5 to 8 minutes per hour to do so. Instead of filing e-mails you want to keep in multiple folders, use ...| Harvard Business Review
