Nerdy, Inc. (NYSE: NRDY) operates a leading platform for digital learning, seeking to transform how people use technology for education. Nerdy provides a all-in-one educational destination that covers over 3,000 subjects and various different formats (small group classes, one-on-one, large groups, self-study, etc.). Shares of the live online learning company are rallying 11% through early trading on Friday, February 3, 2023. Over the past three months, Nerdy has seen average daily volume of 572,910 shares. However, volume of 2.66 million shares or dollar volume of around $9.15 million, has already exchanged hands through early trading.
Shares of Nerdy are gaining after the company announced the launch of new ChatGPT-powered products that will leverage artificial intelligence (AI) to enhance online learning and student interaction. The new products will be available at no extra charge to Varsity Tutors Learning Memberships.
Nerdy will initially be releasing two specific AI products: AI-Generated Lesson Plan Creator and AI-Generated Chat Tutoring. The lesson plan creator will allow tutors, teachers and educational professionals to effectively create a lesson plan, its structure, content personalization, and more. “Experts” will have the ability to deliver even more value to each of its tutoring sessions, which will utilize the AI to generate unique content across thousands of different topics.
The AI chat tutoring product provides 24/7 real-time support to its Learning Membership customers. By providing quick and accurate responses to questions, students can obtain helpful insights and suggestions that are relevant to their subject matter. The product also gives students the ability to request a live Expert tutor that can join the session at any time and provide a more hands-on learning experience.
Nerdy’s AI-based lesson plan creator and chat tutoring products represent the initial launch of the company’s initiative to expand the use of AI within its live online learning platform. Management says they are continuing to work on additional products that will help students with different tasks like generating practice problems and answers for self-studying, flashcards, essay proofreading and even math-based applications.
“Nerdy has been at the forefront of AI in online learning for some time. Given its vertically integrated business model and huge scope of learning experiences and content types across nearly every subject, they are uniquely qualified to apply AI to transform how people learn,” said Rob Hutter, Managing Partner, Learn Capital. “Nerdy is the only company in the country that is currently combining live instruction at scale across millions of learning interactions with deep expertise in AI towards the goal of unlocking truly personalized learning.”
Disclosure: No position. Spotlight Growth has no relationships with any of the companies mentioned in this article and did not receive payment in any form for its creation. This is an opinion article and is not meant to be financial advise. We are not broker-dealers or investment professionals. Please conduct your own due diligence. For more information on our disclosures, please visit: https://spotlightgrowth.com/disclosures/
