Chegg should be intimate to most people who have been to college in recent years . It started out in the 2000s renting out textbooks and later expanded into online cogitation guides , and eventually into a weapons platform with pre - publish answers to common preparation questions .
Unfortunately , the launching of ChatGPT all but annihilated Chegg ’s business good example . The fellowship for years ante up thousands of contractor to write answers to motion across every major content , which is quite a labor intensive process — and there ’s no warrantee they will even have the answer to your query . ChatGPT , on the other hand , has ingest pretty much the entire internet and has likely seen any story question you might throw at it .
Granted , some of Chegg ’s fall can be attributed to a subsiding of the pandemic lockdown , when learning went virtual and the company needed to produce more answers . But as theWall Street Journalreports , there does seem to be a correlation coefficient between the launching of ChatGPT and student dropping their Chegg subscriptions :
Chegg’s stock has cratered 99% since the launch of ChatGPT, and bond holders fear it won’t be able to continue paying its debts.Bloomberg / Getty
Though Chegg has built its own AI production , the troupe is struggle to convince customers and investor it still has time value in a market upended by ChatGPT .
“ It ’s free , it ’s insistent , and you do n’t really have to worry if the problem is there or not , ” Jonah Tang , an M.B.A. candidate at Point Loma Nazarene University in San Diego , said of the advantages of using ChatGPT for preparation assistance over Chegg .
A survey of college students by investment bank Needham launch 30 % intended to expend Chegg this semester , down from 38 % in the outpouring , and 62 % planned to use ChatGPT , up from 43 % .
It ’s unclear what Chegg can do to stanch the hemorrhage at this point . The company laid off 441 employee over the summertime , a quarter of its hands . It ’s trying to direct what the raw chief operating officer report as “ odd learners ” by offer more comprehensive AI - assisted solution as well as bouncy counseling .
What ’s perhaps most sorry is that , according to theJournal , employees actually ask for resources in 2022 to grow AI tools for automatise response to cover the huge influx in new requirement . Chegg ’s leaders denied the request to start build up AI tools until ChatGPT ’s release , but even then some internally were n’t upset because of the chatbot ’s tendency to make up wrong answers .
But , as with a dick like Wikipedia , students are willing to take on some risk because of the convenience . pupil are told not to trust Wikipedia , but most utilise it anyway and steer to the references section to snap up citations . Of course , chatbots like ChatGPT have no conception of a study like math ; they ’re just guess the Holy Scripture necessary to make a judgment of conviction that sounds right . They will give back answer that lookdeceptivelycorrect but are n’t . It ’s like having a calculator that ’s right 50 % of the metre . For subjects like history , chatbots are passably better , but answers should be doubly - checked .
perchance Chegg could work harder to help people understand this ? It seems like most students do n’t care , though , or find that ChatGPT is good enough at sending them in the right-hand direction , and the clock is running out for Chegg .
AIArtificial intelligenceChatGPT
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