Artificial intelligence (AI) is changing the way companies train and upskill their employees, delivering personalized learning experiences that can reduce costs and improve efficiency.
The global market for AI in education is growth is expected According to a report by Market.US, it will reach approximately $73.7 billion by 2033, up from $3.6 billion in 2023. Despite impressive forecasts, online education company Chegg, which has been investing in AI tools, recently saw revenue decline. stocksomething that highlights the volatility of the sector.
“Generative AI can provide a level of learning personalization that would be nearly impossible to achieve without this advanced technology.” Ryan LufkinGlobal Vice President of Strategy for an Educational Technology Company structurehe told PYMNTS. “This means you can quickly assess what your employees know and directly teach them knowledge gaps, reducing time spent learning and increasing time to productivity. I can.”
AI hits the education market
Chegg to tap into the growing AI education market Launched CheggMate last year. This AI-enhanced learning service was developed in conjunction with OpenAI's GPT-4 and is designed to provide students with personalized learning paths and support.
“Chegg's proven ability to improve student outcomes, combined with the breakthrough technologies of OpenAI and Chat GPT, creates the most powerful learning companion for students around the world,” said Dan Rosensweig, CEO and President of Chegg. We believe this will help us create the best possible results,” said Dan Rosensweig, CEO and President of Chegg. news release At the time of service start. “With CheggMate, students can instantly engage in AI conversations that are personalized to their learning style and needs, supported by their library of proven and reliable content.”
As more companies adopt AI-powered learning platforms, experts are seeing changes in corporate education that could potentially save companies millions of dollars annually while improving employee performance and retention. is predicted.
Lufkin shared a personal anecdote about how AI helped him improve his Spanish skills for presentations in Latin America.
“I started experimenting with some generative AI tools for translation and was surprised at how much better the results were,” he said. “AI simply understands the context and responds in more natural language that is appropriate for the situation.”
As the pace of change accelerates, Lufkin said companies need to foster a lifelong learning mindset in their employees. However, he acknowledged that fear surrounding AI still exists due to depictions in popular culture.
“An entire generation has been conditioned to fear AI through war games and movies like The Terminator.'' Lufkin said. “If we can overcome that fear and understand the power and shortcomings of AI, we will be able to harness its potential more broadly.”
Manufacturing is an example of an industry that is leveraging AI for training. rich caplowVice President of Products L2Ltold PYMNTS, a connected workforce solutions company.
“In the manufacturing industry, connected workforce platforms are incorporating AI-powered technology into their products to educate employees and better adapt to changes on the job site,” said Caplow. “Factory managers can leverage AI to preset standard populations, making it easier to communicate instructions to employees, increasing efficiency and reducing downtime.”
AI is being used to support manufacturing floor managers and front-line workers. Caplow says it can provide timely data and guidance to help employees make informed decisions and complete tasks more efficiently on the factory floor.
“AI also has the ability to give frontline workers visibility into what they need to do, while also giving them instructions to do so,” he explained. “Technicians can receive updates on machines that require maintenance, highlight the parts needed for repairs, and estimate how long it will take to complete.”
Experts: Make your AI training relevant
Although educational AI software like Chegg is readily available, experts say AI training is more complex than sitting employees in front of a keyboard. Michael OjidanaChief Learning Officer at an educational software company vector solutiontold PYMNTS the importance of providing real-world examples and immediate feedback to adult learners.
“Adults need to know how information is relevant and applicable when learning. AI can educate employees by providing real-world examples and provide immediate feedback. We can help with this,” he explained.
By incorporating AI-driven scenarios and instant recommendations, companies can improve employee skills without relying on on-site educators, saving time and resources.
Mr. Ojidana emphasized the importance of expert oversight of AI-generated content.
“However, it must be stated that all content created by AI must be vetted by subject matter experts. The benefits of AI are that when it provides accurate information, ” he warned.
