Edtech Giant Chegg Faces Tough Times Due to ChatGPT Threat

+Edtech Giant Chegg Faces Tough Times Due to ChatGPT Threat+

In the world of online education, Chegg has been a popular choice among students for many years. With a range of services including online tutoring, homework help, and digital textbook rentals, the edtech giant seemed unstoppable. That is, until recently.

Cheggâ??s stock tumbled after it issued a revenue warning, citing the rise in popularity of a new service called ChatGPT. ChatGPT is an AI-powered chatbot that can answer studentsâ?? questions instantly. While Chegg offers a similar service, its pricing model is more expensive, prompting some students to switch to the cheaper option.

One student, 18-year-old Maria, says she chose ChatGPT over Chegg because it was more affordable. â??I donâ??t have a lot of money to spare, and ChatGPT was much cheaper than Chegg,â?? she explains. â??Plus, it was really easy to use and I got the answers I needed quickly.â??

Other students have echoed Mariaâ??s sentiment, and as a result, Cheggâ??s revenue is expected to take a hit this quarter. This has sent shockwaves through the edtech industry, with investors and analysts alike questioning whether Cheggâ??s dominance is coming to an end.

Meanwhile, ChatGPT is capitalizing on its newfound popularity. The service has rapidly expanded its offerings, with plans to add more subjects and languages in the near future. It has also caught the eye of investors, with some predicting that ChatGPT could be the next big thing in edtech.

Only time will tell whether Chegg can weather this storm and regain its place at the top of the edtech industry. What is clear, however, is that the rise of ChatGPT is a sign that disruption is coming to the world of online education.

Akash Mittal Tech Article

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