Wednesday 03 May 2023

*UKHotViewsExtra* How EdTech is at the forefront of AI disruption

CheggChegg is an Edtech company that allows students to rent textbook, provides online study guides, tutoring services and exam prep, largely through a monthly subscription model. Some have claimed using such services to prepare for exams is akin to cheating, it depends on your perspective, but it has been a new way for students to learn that many have embraced.

Yesterday the stock fell another 50% overnight, and one of the main contributing reasons was comments made regarding the impact of ChatGPT.

Chegg CEO, Dan Rosenweig said “In the first part of the year, we saw no noticeable impact from ChatGPT on our new account growth and we were meeting expectations on new sign-ups. However, since March we saw a significant spike in student interest in ChatGPT. We now believe it’s having an impact on our new customer growth rate

To combat this decline the company is now aggressively investing in AI through ChatGPT, as it looks to both capitalise on the potential for AI, and disrupt its own business before others do it for them. CheggMate will combine the power of GPT-4’s advanced AI systems with Chegg's extensive content library and subject-matter experts to create a faster and more personalised learning experience.

So, is this the future of education? Perhaps. It is certainly going to be a hugely disruptive factor for both students and educators. The latter in particular are already scrambling to adapt how students are tested to avoid the issues of plagiarism and AI generated content.

TechMarketView Subscribers can read a bit more about Chegg as well as the impact from AI on Education and other white-collar industries in our HotViewsExtra article: How EdTech is at the forefront of AI disruption

Posted by Simon Baxter at '09:47'