The nearly 50% selloff in Chegg shares this month after its quarterly earnings illuminated the danger A.I. presents to some longstanding businesses.
The launch of ChatGPT in late 2022 ushered in a new era of technological innovation that few people ever imagined. As the tool gained steam, reportedly hitting 100 million users within about two months of its launch, Wall Street lauded the generative artificial intelligence, viewing its debut as akin to the iPhone's launch in 2007.
mountain Alphabet and Microsoft so far this year Wall Street is just beginning to discern the investment potential of the big AI winners, with Goldman Sachs forecasting the technology as capable of generating $7 trillion in global economic growth over the next 10 years.
mountain Chegg shares over the last month The thinking now is that no part of the economy can hide from AI. Companies from manufacturers to popular retailers have begun embracing the technology to improve their products. But some companies face more danger than others, and steep challenges to overcome.
mountain Upwork shares year to date Education services After Chegg's early-May selloff shined a light on the harmful effects ChatGPT poses to some business models, many Wall Street analysts viewed education services at special risk of disruption.
mountain Five9 shares over the last month And Morgan Stanley analyst Meta Marshall noted that talking to a live agent remains important for companies and customers alike. Marshall said in a recent note that Five9 is "aggressive in fighting [the] narrative that AI is a negative for [Contact-Center-as-a-Service], instead highlighting it as an opportunity.
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