In lower than 4 years the share value of Chegg, an online education service, has dropped by 99%. A post-pandemic hunch in digital studying is partly responsible for its tumble. An even bigger downside for the corporate, although, is synthetic intelligence (AI). Its clients are principally college students who need assist answering their homework assignments, which frequently entails the digital help of a human tutor. The rise of ChatGPT and its form have created a free substitute for that service. On an earnings name on November twelfth Nathan Schultz, Chegg’s boss, admitted that “know-how shifts have created headwinds”. The identical day the agency mentioned that it could hearth a fifth of its workforce.
