Can AI Be Your Next Career Coach? Practica Says Yes!

In the age of artificial intelligence, the question arises: Can AI serve as your career mentor? Practica, a startup that initially began as a marketplace for one-on-one executive coaching, believes the answer is a resounding yes.

The Evolution of Practica

Founded in January 2020 by Dave Whittemore, former Head of Product at Thinkful, and Andy Scheff, a former engineering manager at Dropbox, Practica initially focused on traditional executive coaching. However, the founders soon realized that the high cost of coaching services was a significant barrier for many people. This led them to integrate AI technology into their platform.

The AI Mentor

Practica's AI system is designed to function as a personalized workplace mentor. It covers a wide range of topics, from management and strategy to personal development and marketing. The AI leverages a technique called Retrieval Augmented Generation (RAG) to match the best learning resources to a given situation. It then explains the relevance of these sources, much like a human coach would, and encourages users to read them as "homework."

The Human Touch

Despite the AI integration, Practica continues to offer human coaching services, primarily to businesses. About 90% of their business is B2B, and it has become profitable on an operating basis. The AI coaching is seen as a way to make executive coaching more accessible, with plans ranging from $10 to $20 per month per user.

The Technology Underpinning

Practica's AI system is built on a vast knowledge base developed over years of human coaching. It uses a variety of coaching tools, including instruction, questioning for context, and mapping learning progress to career goals. Unlike general-purpose AI chatbots, Practica's AI remembers the user's history, allowing for a more personalized and effective coaching experience.

The Future of AI Coaching

Practica has raised $1.5 million in outside funding across two rounds in 2021 and 2022. The startup aims to expand the reach of executive coaching, making it more accessible and effective through AI technology.