ChatGPT Affects Chegg’s Sales and Growth
US-based online learning platform Chegg has reported a decline in its customer growth rate due to the rising popularity of AI chatbot ChatGPT among students. The company’s share price fell by half, impacting other online education firms such as Pearson, Duolingo, and Udemy.
AI in Education
As generative AI tools like ChatGPT gain popularity, organizations are considering their potential impact on business models, particularly in the education sector. Despite concerns about inaccurate information and cheating, LLMs can be valuable for lesson planning and information collation for teachers and students alike.
CheggMate and the Future of AI in Education
Chegg recently launched CheggMate, a ChatGPT-4-based service offering tailored content to students. CEO Dan Rosensweig believes blending AI technology with human support will build trust and ensure accuracy and relevancy in educational content. Chegg’s rich data sets could provide an advantage in generating better AI outputs.
