Shares of edtech firm Chegg nonetheless haven’t recovered from their dive earlier this month. As it’s possible you’ll recall, its inventory fell off a cliff after the corporate reported its Q1 outcomes.
Whereas Chegg beat analyst expectations for the primary quarter of the 12 months, it additionally raised a warning that didn’t fall on deaf ears: It warned that ChatGPT was hindering its capability so as to add new subscribers.
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“[S]ince March, we noticed a big spike in pupil curiosity in ChatGPT. We now consider it’s having an affect on our new buyer progress fee,” Chegg CEO Dan Rosensweig stated throughout the firm’s Q1 earnings name.
Chegg is especially weak to competitors from generative AI; though it’s possible you’ll understand it as a spot to lease faculty textbooks, “it has additionally confirmed an extremely fashionable device for dishonest,” robotechcompany.com+ reported.
AI could be the least of edtech’s worries by Anna Heim initially revealed on robotechcompany.com
