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It is hard to go through earnings transcripts these days without every management touting its amazing AI prowess !
@consumeowntech It's everywhere. Have to really understand the business model well to see which one is bulls*** and which actually makes sense.
Why do you believe $CHGG will not benefit from the rise of AI?
@joeyhirendernath well, a lot of their business is being replaced simply by ChatGPT. in the most recent quarter, they listed ChatGPT as one of their business risks and the stock tanked about 50% after.
Ahh just found the relevant news that explains why, thanks for the context Sam I am seeing now that even Pearson suffered the same way.
Yeah, interesting. Although the barriers to entry have become lower now, do you agree?
@rihardjarc yes, but the data mount is still undeniable in Duolingo’s case, besides strong brand. Not sure just how significant this is for Chegg long term, anyways personally i’m not too confident holding anything else than $DUOL in this space.
@sammeciar The companies that have the data and if the data is not too widely available (free data on the web or well-known data) then with a management that is fast and focused on using AI tools a company can benefit, otherwise they will be left behind in the dust.
@rihardjarc exactly. I'm not worried in Duolingo's case, because they were using AI to their strong advantage way before it has gotten you attention of just about any VC and WS analyst.
@sammeciar They certainly seem to be very focus on the AI shift, which is good in their case since AI changes their industry completely. For me, the verdict is still out on whether they will be able to keep their position or if some other Bard/ChatGPT feature goes too far in their field and makes the ability for a competitor to emerge seamless.
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