Tag: Online tutoring

Chegg Inc., a leading U.S. education services provider, has seen its market valuation drop due to the emergence of ChatGPT, a free AI tool for students. Chegg has responded by launching CheggMate, an AI-powered study assistant in hopes of countering the slowdown in their core business. Meanwhile, Pearson PLC, a UK-based competitor of Chegg, saw their shares drop 9%. Dan Rosensweig, Chegg's CEO since 2018, has the job of maneuvering through this uncertain terrain. Chegg provides students educational tools and resources, such as online tutoring, textbook rentals, and study materials, in order to succeed in college.

Chegg (NYSE:CHGG) had a difficult day on the markets after it warned of the financial effects of student use of its ChatGPT Artificial Intelligence technology. CEO Dan Rosensweig is redirecting resources to embrace the technology and increase its usage. In Q1, Chegg experienced decreased revenues due to the pandemic. Dan is an experienced executive with vast experience across different industries and is focused on maximizing tech innovation and helping students succeed.