Tag: CheggMate

. Discover how the growing popularity of AI-based service ChatGPT has caused shares of education platforms, such as Chegg, Pearson and Duolingo, to drop. Chegg has also introduced CheggMate to compete with ChatGPT, as universities ban its use due to an unfair advantage it could give students. Will Chegg's new strategy be enough to recover its losses?

. Chegg, the college textbook rental and educational service provider, experienced a 48% dip in their stock price on Tuesday. CEO Dan Rosenweig downplayed the significance of the drop and mentioned the risks of Artificial Intelligence. Chegg released higher than expected 1st quarter earnings and revenue and is preparing to launch the Cheggmate platform, with AI powered GPT-4. Dan Rosenweig brings with him an impressive background in tech, making Chegg a force to be reckoned with.

ChatGPT is quickly becoming the most popular new technology, with companies like Uber, Box, and Snap using its power to fuel their products. But Chegg has recently highlighted the risks of ChatGPT adoption after their customer growth rate declined after their chatbot introduction. The importance of understanding ChatGPT technology before use is emphasized, with Chegg’s stock plummeting 48%. Companies who intend to benefit from ChatGPT will have to be sure to implement it correctly.

Chegg, an education tech provider, saw its stock price plunge after mentioning the increasing popularity of ChatGPT. Looking to the future, Chegg has launched CheggMate, a browser-based app that helps student with their studies and homework. CEO Dan Rosensweig has made key decisions to help the company stay ahead of its competitors. With the aim of providing a better service to customers, Chegg is looking to strengthen its presence in the market.

Chegg reported quarter results on Monday and shares declined post-earnings. Artificial intelligence (AI) and ChatGPT are now the major risks that threaten the company's customer growth. Jefferies downgraded the stock to "hold" from "buy" & recommend investors to reconsider their exposure to Chegg.Source: The Company & Jefferies