With Labor Market Still A Concern, Are There Endless Opportunities In The Online Learning Market For This Burgeoning AI Company?
By Sam Msiska, Benzinga
Many organizations are struggling with the digital transformation efforts they have begun, according to David Rogers, a professor at Columbia Business School in New York City. While the reasons vary, the most common is that there is a talent and skill shortage.
While upskilling could be the solution, not many organizations prioritize it. As PA Consulting Chief Research Officer Charlene Li says in the “Digital Transformation Refocused: New Goals Require New Strategies” report published by Harvard Business Review, not enough businesses focus on the transformation part of digital transformation, which is about people.
Bridging the Gap With Ed-Tech?
Amesite Inc. (NASDAQ: AMST) is an artificial intelligence (AI)-powered software company providing cloud-based learning and content creation ecosystems for educational institutions, businesses and organizations.
Amesite recently launched Version 5 (V5) of its AI-driven online learning platform. The upgraded version was built for scale-ability to deliver to large user bases with features that lead the industry. V5 also offers the capability to integrate the platform with other software programs and partner sites seamlessly.
Amesite’s V5 platform equips customers with a holistic learning ecosystem and offers capabilities from an e-commerce solution to auto-enrollment of users to streamlined deployment in just 24 hours.
The U.S. Department of Labor Statistics says there are more than 65,000 medium and large companies. With the current skill and talent shortage, most of these organizations could be looking to onboard, train and upskill a large number of their employees. Amesite says its V5 platform is scalable and capable of meeting the needs of over 65,000 customers.
The launch of V5 is part of Amesite’s long-term goal of becoming a leader in the e-learning space alongside players such Coursera Inc. (NYSE: COUR) and 2U Inc. (NASDAQ: TWOU). The global e-learning market was valued at $215 billion in 2021 and is expected to reach $1 trillion by 2028.
With V5, Amesite also aims to help with workplace training both in the U.S. and globally. The U.S. workplace training industry had a market value of $165 billion in 2020, according to Statista. Global Market Insights reports that by 2028 the industry is projected to reach $1 trillion.
Amesite has had a number of collaborations and its partnership with Wayne State University’s College of Engineering is a proof point that Amesite is building systems that retain customers – and enable them to scale. The company announced the expansion of its partnership with the university, which will integrate its V5 e-commerce solution into its system.
The new development will enable learners to register, pay and enroll for courses directly on the university’s website, increasing the accessibility and engagement of Wayne State University’s nearly 30,000 engineering alumni and hundreds of thousands of other professionals.
Amesite says its platform will help Wayne State and other partnering universities scale globally, by delivering tailor-made programs suited for their learners. By offering on their own brands, universities can use Amesite’s solutions to leverage their strengths, rather than compete their products against other universities’ offerings on common sites. The results speak for themselves considering that Wayne State reports 98% retention across its Amesite-powered programs in the three years it has worked with the company.
Amesite also highlighted the platform’s capabilities and recently reported on the successful delivery of a “Full Scale, Global Enterprise Learning Solution” for the EWIE Group of Companies (EGC) in a press release and case study.
“We know that people are our most important resource. Having people with the most advanced skills is a huge competitive advantage for us,” said Jay Mullick, President of EWIE Group of Companies. “Amesite is at the center of all our business process training at EGC. We have appreciated the support of their team throughout the relationship. Using Amesite’s global upskilling technology platform enables our people to gain the know-how to meet our most demanding customers’ needs, quickly and efficiently.”
For Amesite, the market potential looks significant and promising because of the many thousands of educational institutions, organizations and businesses seeking the type of services the company offers. The company’s list of recent achievements also includes winning an exclusive partnership with NAFEO, a national membership organization that represents 106 HBCUs (Historically Black Colleges and Universities ). With this partnership, the Company is targeting $10M in revenue, by raising support for NAFEO to launch partnerships with its member Colleges and Universities — this represents a massive opportunity with a large group of educational institutions in its own right and could point toward further success for additional significant partnerships. NAFEO members enroll more than 700,000 students, they have 72,000 faculty, and 7 million alumni worldwide.
To find out more about Amesite visit https://profiles.smallcapsdaily.com/amst/
Amesite Inc., an artificial intelligence driven platform and course designer, provides online products in the United States. The company uses machine learning to offer a mass customized experience to learners. Its customers include businesses, universities and colleges, K-12 schools, and non-profit organizations. The company was incorporated in 2017 and is headquartered in Detroit, Michigan.
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Released Nov 1, 2022