Chegg, a leading online education and learning platform, has recently seen its stock prices plummet after the introduction of ChatGPT, a new artificial intelligence-based customer service automation tool. This new technology has had an unexpected impact on the company’s customer growth, raising serious concerns about Chegg’s ability to remain competitive in the market.
Yahoo Finance markets reporter Josh Schafer recently discussed the worrying implications this news has for Chegg on the Yahoo Finance Live show. Schafer highlighted how Chegg, who has previously positioned their customer services as a valuable point of difference from its competitors, may struggle to remain competitive in the industry. He also noted the pros and cons of introducing automation technology and how companies struggling to remain competitive, like Chegg, must weigh them carefully before introducing it.
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Josh Schafer is an experienced markets reporter with more than 10 years of experience. He has a strong background in financial news and serves as an Analyst at Yahoo Finance. He is passionate about helping people make informed investment decisions and specializes in making complex concepts easier to understand. His expertise includes analyzing corporate earnings reports and breaking major financial news stories.
