Chegg (CHGG) – Get Free Report, an online educational platform, is feeling the brunt of the effects of artificial intelligence (AI). After disappointing earnings results, its shares fell nearly 45 percent Tuesday morning. Dan Rosensweig, Chegg’s CEO, spoke about how AI has already begun having an impact on Chegg’s new sign-up growth rate.
Chegg is moving forward with an AI-focused strategy and announced their new service, CheggMate, a collaboration with OpenAI. CheggMate will combine the convenience of ChatGPT and the efficiency of Chegg’s studied data and more than 150,000 experts. There will be a beta version of CheggMate available soon and the team believes that a good understanding of its performance will be available towards the fall.
Rosensweig noted that AI is the latest long-term technological shift, comparing it to the creation of the internet and emphasized how Chegg is adapting successfully to the competitive environment of AI. He also believes the firm is well-positioned to take advantage of the advancements in AI, while providing consistent benefit and value to students.
This article revolves around Dan Rosensweig, CEO and President of Chegg. After attending Cornell University, he went on to become a software engineer at Angelfire, a successful media executive, and COO at Yahoo. After more than a decade, Rosensweig then moved to Chegg where is currently leading the company on the forefront of the shift to AI. His ability to anticipate and adjust to the business landscape has enabled Chegg to successfully adapt to the evolution of AI with their service CheggMate.
Chegg has a track record of being a reliable educational platform for both students and educators. Founded in 2005 and headquartered in Sunnyvale, California, Chegg is known for their online textbook rentals, online tutoring, course scheduling, and academic support for scholars and parents. As a long-term leader in the online education space, Chegg has made the transition to the new AI shift thanks to the guidance of Rosensweig. As AI technologies advance, the company will strive to continue providing the same benefits to users with increased efficiency.
