RAVI K YADAV

Chegg, once the undisputed champion of online homework help, is facing an unprecedented crisis. For years, students flocked to Chegg to access textbook solutions, expert Q&A, and tutoring services. I witnessed this firsthand while working as a teaching assistant for a Data Structures class. Many of my students relied on Chegg to get step-by-step answers for their take-home quizzes, raising serious concerns about cheating and plagiarism.

Chegg attempted to adapt by developing its own AI-powered solutions, but it seems they were outpaced by the rapid rise of even more sophisticated AI tools like ChatGPT. These advancements have dramatically altered the landscape of academic assistance, providing students with readily available and sophisticated support.

The consequences for Chegg have been devastating. Its stock has plummeted by a staggering 99% from its all-time high of $115 in 2021, currently trading at a meager $1.72. While Chegg may not be the only company affected by the rise of powerful AI models, it serves as a stark warning. The company’s dramatic decline highlights the disruptive potential of AI and the vulnerability of businesses that fail to adapt to this rapidly evolving technological landscape.