shares of Chad getting hammered today after disclosing that chat gPT is having a significant impact on new consumer growth.

Deja Bosa is watching that story today on Tech Jack D.

Yeah so Carl we have spent a lot of time on the big AI announcements that have been seen as positive

catalyst for big tech like Microsoft Alphabet and video meta, but now we are starting to see the

flip side as well, the downside stock impact.

Chuck is the first public company to blame AI and Chatch EPT for a major guide down and

slower new user growth.

And investors, they were properly spooked as you can see it is down nearly 50% today and it's valued now at a little

over a billion dollars. Just a few years ago during peak pandemic tech, this was a 14 billion dollar company.

CEO Dan Rosenzweig says that he's going to fight generative AI with generative AI.

End quote.

Yes, you can use it to get some answers, but to actually learn it you need to use

Chag.

Look at shares though of Duolingo declining in sympathy so there really

is a skepticism on the street. The AI will be a net negative for Ed Tech at the moment.

Now as investors they wrestle with the potential of AI to eviscerate entire

business models they continue to try to quantify the threat or the opportunity to

eliminate jobs that is already happening at IBM the company now pausing

back office hiring and says that

around 30% of jobs could quote easily be replaced by AI in five years.

Goldman Sachs takes a comprehensive look at the industries it It expects to be most impacted. There's

office and admin support, legal architecture and engineering. It sees as being

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