The education sector has been shaken by the impact of artificial intelligence on some of its biggest players.
Chegg, a company that provides online tutoring and textbook rental services, saw its stock plummet nearly 50% after its CEO revealed that the company is loosing subscribers because of mass transition to ChatGPT.
This news had a ripple effect on other education companies: Pearson’s shares dropped 15%, while Duolingo lost 10% of its stock value.
To counteract this trend, educational companies are urgently creating AI-powered tools: Chegg has partnered with OpenAI to develop an AI-powered tutoring service. Duolingo has launched an AI-powered subscription. And most likely, users should only benefit from this.
CHUCKYSCARNAGE 