**Chegg Struggles and Plans to Compete with ChatGPT**
On May 2, Chegg’s stock plummeted 48% due to the impact of ChatGPT on its business. In an effort to bounce back, Chegg is developing its own educational chatbot called CheggMate. The company believes that CheggMate can provide a personalized learning experience for students and rival ChatGPT. CheggMate will create bespoke lesson plans for students based on their learning style, exam schedules, and even their emotional state. Additionally, it will connect students to study groups and help them find job opportunities.
**Building Trust with CheggMate**
Chegg aims to create a chatbot that can be trusted to always provide correct answers. Unlike general large language models that are susceptible to presenting false information, Chegg wants CheggMate to be reliable and accurate. The company is focused on ensuring that students can trust the answers and information provided by CheggMate.
**Incorporating Wellness and Professional Guidance**
CheggMate will not only assist with academic tasks but will also incorporate various wellness metrics into a student’s learning plan. It will track sleep patterns and recommend meditation exercises. Additionally, it will provide professional guidance by offering insights on career opportunities for students based on their majors and school affiliations.
**Addressing Concerns and Prioritizing Learning**
During the Brainstorm Tech conference, concerns were raised about whether Chegg would be primarily used for cheating rather than genuine learning. However, Chegg’s CEO, Dan Rosensweig, highlighted that the company’s focus is on helping less privileged students who may not have access to elite education. Rosensweig emphasized that CheggMate is built for students who are self-initiated and genuinely interested in learning and improving their skills.
**The Problem of “Chegging”**
Chegg has gained notoriety as a platform that students use to cheat, leading to the term “chegging” being coined. Students often use Chegg to quickly find answers or ask experts for help on assignments and exams. During the pandemic, with the transition to remote learning, Chegg’s stock price significantly increased.
**A Positive Outlook for CheggMate**
Despite the concerns about cheating, Chegg is determined to provide a valuable learning tool through CheggMate. The company believes that by focusing on personalized learning experiences and building trust with students, it can effectively compete with ChatGPT and offer a unique educational solution.
Overall, Chegg is confident in its ability to rebound from the recent stock decline by developing CheggMate. The company aims to create an innovative chatbot that prioritizes learning, provides accurate answers, incorporates wellness metrics, and offers professional guidance. With these features, Chegg hopes to regain its position in the market and provide an invaluable resource for students.