AI-Supported Companies Perform Better Than Their Counterparts

Advancement in AI has surge faster than expected as it evolved from an emerging trend to a critical driver of business performance. Reports also revealed that companies hiring for AI skills consistently outperform their peers.

In the HackerRank 2024 AI Skills Report, they found that companies actively hiring for AI-related roles outperformed the market by as much as 13 percent in share price growth between Q2 2023 and Q2 2024. AI is already having a noticeable impact, driving not just the bottom line of early adopters, but their value as well.

The report added that despite its transformative potential, "some companies remain hesitant to integrate AI, viewing it as a compliance or security risk rather than a value driver." However, further postponing the adoption of AI-related technology could result to falling behind faster-moving competitors.

HackerRank data shows that companies engaging in AI hiring posted a remarkable 40 percent growth in share price year-over-year, with the most engaged firms—those with 15 active tests that assess AI skills—achieving a 46 percent increase.

Companies that integrate AI effectively see tangible benefits beyond share price growth. For instance, the report cited that AI-driven tools can reduce operational bottlenecks by automating repetitive tasks, freeing up teams to focus on strategic goals.

Take e-commerce, for example. Companies in this industry that use AI for personalized recommendations report up to a 25 percent increase in sales conversions. For hiring managers, this highlights the importance of finding candidates who can deploy AI solutions that directly align with business priorities.

These numbers underscore the importance of acting now.