VDE - From Releasing A Public Course On Using ChatGPT To Leveraging The AI To Improve Company Efficiency — Amesite (NASDAQ: AMST) Looks Ahead Of The Curve For Integrating ChatGPT
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By David Willey, Benzinga
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ChatGPT has shown the potential changes thatgenerative artificial intelligence can bring to the market. AmesiteInc. (NASDAQ: AMST), a Detroit-based AI software company, has setout the progress it has made in integrating generative AI into itsplatform.
Therelease of ChatGPT showcased the capabilities and potential ofgenerative AI, which is able to produce increasingly sophisticatedoriginal content. The Everything as a Service (XaaS) market, whichincludes products like generative AI, is predicted to reach $1.2trillion by 2031 growing at a compound annual growth rate of 23.4%between 2021 and 2031, according to a study from Spherical Insights & Consulting. Unsurprisingly,investing in AI capabilities remains a top priority for businesses as they look for new ways to harnessinnovations in AI technology. For companies like Amestie that alsohave exposure to the e-learning market, there could be additonalopportunities to merge growth in both, with the overall globale-learning market projectedto climb to nearly $1 trillion by 2028 .
A lot of uncertaintyremains, however, around strategies for systematically integratinggenerative AI and systems like ChatGPT’s language model, GPT-3. Theeducation sector in particular hasshown an unwillingness to adopt the technology, with at leastone school district blocking the program’s website, and universitiesholding internal meetings to discuss how to control the impact ofChatGPT.
Amesite, on the other hand,has always had an AI-first strategy. Founded in 2018 to provide aplatform and content for the best upskilling and e-learningopportunities, Amesite’s approach has allowed the platform toquickly pivot to integrate the latest AI technology into itssystem.
Amesite Shareholder Presentation
Amesite Chief ExecutiveOfficer (CEO) Anne Marie Sastry recently shared an update for shareholders over a call. In it, she discussed thecompany’s financial position, as well as the steps the company hastaken to integrate GPT-3 into its platform and business model.
Sastry reported thatAmesite has had an increase in both its revenue and sales pipelineover the past four quarters and that the company has seen an overallincrease in operational efficiency in the same time period. Sheidentified the integration of generative AI into the coding andbusiness operations as a key factor in driving the efficiency andoutreach gains made by the company.
Sastry made a series of Amesite stock purchases in February and March 2023, buyinga total of 6,000 shares of common stock in the company for a purchaseprice of $16,800. This means Sastry, who has never sold any of hercommon stock shares in Amesite, now owns over 531,000 shares. Thiskind of insider buying, where a CEO purchases company stock, generallyindicates optimism by company executives about the future growth andstock value of a company.
Leveraging AI Developments
Sastry commented duringthe shareholder update on how Amesite is keeping up with thefast-paced developments in the AI industry. As part of its generativeAI offerings, Amesite launched new learning and creative assistantsthat help course designers create content for the platform. It alsoreleased a publicly available course on the fundamentals of usingChatGPT. According to Sastry’s presentation, the announcement ofAmesite’s ChatGPT content resulted in a five times increase in sitetraffic.
Amesitecontinues to host eLearning and upskilling programs that have a 99% learner retention rate for businesses, non-profits, and institutes ofhigher education. Amesite recently announced a pilot program inpartnership with Benedict College, as part of the company’s alliancewith the National Association for Equal Opportunity in HigherEducation (NAFEO). The Benedict College Pilot is an upskilling programthat gives students the skills to thrive in a tech-driven economy.
"Benedict’scommitment to their students is admirable, and Amesite is proud to beable to provide them with a scalable online infrastructure andtechnology upskilling content to enable them to deliver this learningwith excellence. This pilot is another example of how we can delivermuch-needed upskilling campus-wide, very efficiently," said Dr. Ann Marie Sastry, Founder and CEO of Amesite.
Other companies in theonline learning space include Coursera Inc. (NYSE: COUR), 2U (NASDAQ: TWOU) and Powerschool Holdings Inc . (NYSE:PWSC).
Interestedin learning more about Amesite? Visit its website .
This article was originally published onBenzinga here .
AmesiteInc., an artificial intelligence driven platform and course designer,provides online products in the United States. The company usesmachine learning to offer a mass customized experience to learners.Its customers include businesses, universities and colleges, K-12schools, and non-profit organizations. The company was incorporated in2017 and is headquartered in Detroit, Michigan.
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