Pioneering Education With AI-Driven EdTech Firm Amesite (NASDAQ: AMST): Insights From CEO Dr. Ann Marie Sastry
Detroit, Michigan
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May 17, 2024 08:30 AM Eastern Daylight Time
By James Blacker
Amesite Inc (NASDAQ: AMST) CEO Dr. Ann Marie Sastry spoke with Benzinga recently about the company’s mission and the transformative role of Artificial Intelligence (AI) in education. Below, we take a look at the key insights gathered from the interview, including Amesite’s unique approach and vision for the future.
What Is Amesite?
Amesite is an AI software company dedicated to building platforms and apps that facilitate learning. Their focus ranges from colleges and universities to individual consumers, with an emphasis on accessibility and effectiveness in education.
What Sets Amesite Apart From Its Competitors?
Other names in the space include Coursera Inc (NYSE: COUR), 2U Inc (NASDAQ: TWOU) and Udemy Inc (NASDAQ: UDMY). According to Dr. Sastry, Amesite gets its competitive edge from the use of AI coupled with a student-centric approach. The company aims to provide not just content but also the tools necessary for success.
This is especially true for professional learning, Dr. Sastry noted, which is a lifelong endeavor and has a big impact on financial security and career growth.
Amesite’s approach appears to be paying off, as in February the company reported an overall retention rate of 98% for paid learning experiences on its platform, far exceeding the industry average of 68-73%.
Why Is Amesite Focused On Education?
Continuous upskilling is essential in the world of work. Most of what people do on a daily basis is learned after formal education.
The CEO highlighted the pitfalls of traditional learning management systems, which are mainly content repositories and lack a well-designed user experience. Course aggregators, meanwhile, offer courses on everything, making it difficult for consumers to pick out exactly what they need.
Amesite, therefore, sees its partnership model with colleges and universities as an ideal way to curate relevant content and tools, addressing the diverse learning needs of individuals and ensuring localized, impactful education solutions.
What Does Amesite Foresee Will Be The Next Evolution Of AI In This Space?
Amesite invested early in AI and was discussing the technology even back when the company was founded in 2018, shared Dr. Sastry.
In April, the company announced the beta release of its new NurseMagicTM app, which uses AI to provide helpful and easy-to-use tools for over 5.2 million nurses.
Dr. Sastry sees this strategic shift towards mobile apps as a way to provide people with faster access to AI-powered learning tools.
“Surf the AI wave. Make sure you have access to those tools so you can be competitive. That’s something we’re extremely excited about,” she said.
Key Targets And Goals For The Company
Amesite recently moved to a no-fee model for its higher ed platform, where customers pay monthly per user instead of paying set-up fees. Since then, the company has announced several five-year deals with colleges and universities. It most recently partnered with Volunteer State Community College and Joliet Junior College in March.
These partnerships enable tailored learning experiences, addressing regional needs and industry demands.
Dr. Sastry highlighted implicit bias training and active shooter preparedness as programs that Amesite now makes available nationwide, as this is a work requirement for many.
In March, the company also announced a partnership with Partners for Advancing Clinical Education (PACE) to deliver accredited healthcare education.
What's Behind Your Recent Momentum With Five Contract Wins With Various Colleges?
Dr. Sastry attributes Amesite’s success to a tailored approach that caters to each institution's unique needs, especially when it comes to aligning with regional requirements and legislative shifts.
“By working directly with colleges and universities and generating sustainable revenue, we can actually give the people what they want,” she said.
“With our 98% retention, we are a very strong argument for colleges and universities to use the Amesite system, generate impact, and meet the needs that are required from legislators and assemblies.”
Watch the full interview here.
Featured photo by Compare Fibre on Unsplash.
Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders.
This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice.
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