This article discusses ways in which AI is impacting e-learning platforms & how some companies are outdoing this by smoothly surfing through AI’s ginormous waves.
AI is in the buzz and is affecting every industry possible to different extents.
AI has advanced very quickly and has made automation easily accessible to the masses. That is why now charging for the same would not even attract an individual. With different software and plugins being released every other day, nearly everything can be created or asked for with minimal effort and for absolutely free.
E-learning platforms working on a subscription model in exchange for textbook solutions, notes, etc. took a hard hit. Now users can get the solution just by copy-pasting the solution. The growing popularity of AI alternates poses a serious threat to the market share of the sector.
Learn from CHEGG’s Case
Shares of online learning company Chegg experienced a sharp decline. The decline was 48%, to $9.08 per share. The company acknowledged that the availability of OpenAI’s ChatGPT was impacting its business model.
Chegg CEO Dan Rosensweig revealed that student interest in ChatGPT had significantly increased since March, leading to a noticeable impact on the company’s growth rate. As a result, students who typically subscribed to Chegg’s educational services during midterm and final exams were opting for the free alternative instead.
In response to this challenge, Chegg developed its chatbot called CheggMate in collaboration with OpenAI, utilizing ChatGPT’s technology.
CheggMate aims to provide personalized content to students through AI assistance. The decline in Chegg’s shares reflects the market’s concern over the potential disruption that AI-driven alternatives pose to the company’s revenue streams
This was the recent Chegg case, if you wish to know more regarding the same – click here.
Doing What AI Can’t?
Some companies in the market are still performing well & have held their market share firmly.
A combination of services like consulting, study materials, stationery range, human interaction factor, content creation and others helped them to give a tough fight to the AI mutants.
Yes, you read it right. Now, having a human interaction factor in your basket to offer can be projected as a USP.
Combining human interaction with a newly enhanced AI model helped a lot of organisations to create new fields and opportunities no one ever heard of.
- Personalised Learning: The applications should consider the user’s pace and understanding level rather than a monotonous series of concepts.
- The ’HUMAN’ Element: The interactive interface with the integration of emotional intelligence and empathy would perform well in this era.
- Emphasizing on Thinking: Integration of live integration, initiates and others into the main interface.
- Certification Program: The platforms providing lifelong learning opportunities and certifications seem to have little to no impact on AI’s emergence.
Companies like Udemy, Coursera, SkillShare, Duolingo, and Career Point Ltd. used these methodologies to ace their game & continue sustained growth.
Concluding, AI is not a contender but a companion. Organisations can use the opportunity to work along with AI and integrate it into their interface. This will give them an edge over others and attain a first-mover advantage.