Chegg Inc, a leading provider of online learning resources, has seen its market valuation drop due to the rising popularity of its competitor ChatGPT. CEO Dan Rosensweig has suspended its full-year outlook as CheggMate, a tailored study aide, struggles to counter its core business slowdown. Wall St. expectations of $186.3 million fell short by $7-$10 million. Dan is focused on providing students with the best online learning resources, leveraging successful brands like Activision Blizzard and WebFreer.
Samsung, a South Korean technology giant, has issued a company-wide ban on the use of generative AI like ChatGPT and Google Bard. This was in response to the incident of sensitive code being shared inadvertently on these applications. Well known for their ability to generate accurate text, these AI applications posed considerable risk to confidential data. The ban on use applies to company-owned devices, tablets, and phones as well as servers. The development is a sign of the increased scrutiny of AI, particularly from expert scientists like Dr. Geoffrey Hinton. Samsung is working to ensure secure data and minimize any risks posed by AI applications.
This article discusses the sharp decline in share prices for Pearson Education and Chegg after the rise of ChatGPT, a generative AI chatbot. Discover the story of Joe Tascarella, the founder of ChatGPT, and his efforts to provide students with an AI-backed tutoring tool. Find out how Pearson's financial performance has been affected, and what the combined losses in market capitalization of these two giants mean for the industry.
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Explore the evolution of tech policy from Obama's optimism to Harris's vision at the Democratic National Convention. What's next for Democrats in tech?