Have you heard about the impact of artificial intelligence (AI) on the education sector? It is causing a significant disruption! One such example is an online education company Chegg, which recently experienced a major drop in its valuation due to the widespread use of generative AI tool ChatGPT. And it’s not just them – other education companies on the London and New York stock exchanges have also been affected. This just goes to show the significant disruption that AI is causing across different industries.
Chegg’s profits guidance for the year has taken a hit due to a “significant spike” in students using the technology. The ripples were felt all the way in London, where education giant Pearson’s stock closed down by a whopping 15%. The fear of unchecked AI development has led some experts to call for a temporary ban on creating large AI systems for at least six months.
The rise of AI is causing a lot of fears in the job market as well, with many people worried about economic impacts and job losses. It’s kind of scary to think about what unchecked AI development could do.
It’s clear that the impact of AI on the education sector cannot be denied, as seen from the recent developments at Chegg and Pearson. While the benefits of AI are undeniable, such as enhanced learning experiences and efficiency, the risks and unintended consequences of unchecked AI development cannot be ignored. It is important to monitor and regulate the use of AI in education and beyond to ensure that it is used for the greater good, without causing harm to individuals and society.
To find out more about AI’s disruption in other industries stay tuned for our upcoming tech Talk.