Powered by AI - This NASDAQ Company Is Taking AI Directly to Professionals, Transforming Training and Work
Disruption Is Coming to the Enormous Online Learning Market
The world is abuzz on the potential impacts of AI, but it’s important to look beyond the hype – companies that make the technology work for customers and users are the ones that investors must watch. Some industries have been faster than others to adopt AI technology – and academia and the edtech industry are well-known to be resistant to change, although these markets are large and growing.
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Further, the pandemic demonstrated the gaps in capability that needed to be filled, as the limitations of online education during this period resulted in subpar learning outcomes. According to the Education Recovery Scorecard, math, reading, and history scores show that students experienced a significant decline in learning during the pandemic, with the team's calculations indicating that by the spring of 2022, the average student was lagging by approximately one-half year in math and one-third of a year in reading. In light of the enormous market size, headed for a market value of over $250B in the U.S. alone by 2028, this industry is ripe for disruption by companies that are able to generate better learner outcomes and partnerships that drive sales.
Companies like:
have used conventional technologies to sell into the market, requiring high setup fees and/or revenue shares that favored the company over the institutions.
Recognizing in 2018 the expected impact of AI in education in improving outcomes and reducing costs, the Company said that it had one goal: To improve the way that people learn. Over the first few years of its product execution, Amesite invested heavily in its technology buoyed by its successful Nasdaq IPO in 2020, and refined its technology and product with customers who paid conventionally high fees for use of the platform. Then, in 2023, the company dramatically reduced its costs by streamlining its offerings to be options on a single platform, and shoring up its infrastructure to make it more deployable and lower cost. That work enabled Amesite to execute a major pivot: offering the use of both the platform and content with no setup fees and no minimums to colleges and universities, generating revenue with usage.
What is Amesite?
Amesite Inc. (NASDAQ: AMST) offers its learning platform and content services to deploy effective AI in online learning. Their platform leverages cutting-edge AI to uniquely offer an out-of-the box, AI-powered learning ecosystem, complete with 24/7 learner support, fresh content and ready-to-go programs, white-labeled for colleges and universities to quickly deploy.
Microsoft Partner: Amesite partnered with Microsoft in a strategic move to leverage a robust cloud infrastructure, that embodied their values on data privacy, security, and cloud-first principles. They now onboard customers in 24 hours or less on an eLearning solution with the scale that it needs to grow—and at half the infrastructure cost.
Preferred Over Competitors: In a recent third-party evaluation, Amesite ranked #1 of EdTech companies, including 2U, PowerSchool and Coursera in overall reputation, positive sentiment, and low negative sentiment. They have positioned themselves as a True Partner to our Customers and tout their user experience as the best the industry has to offer.
Cultural Excellence: Amesite’s AI-First culture brings us and grows the best talent. They have a track record of promoting staff, while equipping them with best-in-class tools. They’ve been recognized with 17 workplace excellence awards, 7 of them National, and all of them based on employee survey results and operating practices.
Statistical Insights
Amesite’s Market Opportunity
Amesite Inc. capitalizes on a significant market in workforce development and continuing education, pursuing partnerships across 4,300 higher education institutions in the U.S., including nearly 1,100 community colleges. This sector, representing over 40% of undergraduate students and an extensive alumni network 10 to 20 times larger in size, presents an enormous opportunity for Amesite to gain adoption of its AI-driven learning platform. Focused on enhancing essential skills and promoting lifelong learning, Amesite has positioned its product to revolutionize training and development for a diverse and extensive demographic.
Statistical Insights
Amesite’s Building Sales Momentum
Recent Contract Wins and Validation of the New Business Model
Amesite also reports an increase in sales activity, with its recent pivot to a no-setup fee offer with no minimums. Since Amesite’s pivot from high-cost sales to a repeatable motion with no set-up fee, the Company has seen a 169% increase in meetings held and a 118% increase in sales opportunities. Recent, key partnerships with Benedict College, Drake State Community and Technical College and West Virginia Northern Community College reflect acceptance of this offer.
This move has the potential to move Amesite to the pole position in edtech, eliminating the friction and length of sales. Similar to others who have sped adoption of high-performing AI including Bing (MSFT).
Additionally, state government mandates are coming online that demand that colleges and universities deliver tangible results for learners, including for workforce development programs. Amesite is in an enviable position to win this business, and is positioning itself to dominate states including Texas, which has passed HB-8. Amesite has garnered approval to operate TX-RAMP, enabling it to offer secure, AI-driven learning solutions to Texas' educational institutions. This certification confirms Amesite's compliance with Texas' security standards, facilitating safer digital learning environments. By meeting TX-RAMP requirements, Amesite can support Texas colleges and universities in delivering effective online education that aligns with state guidelines and student success metrics. With student enrollment expected to reach 1.62 million by 2025 across Texas' educational institutions, Amesite's reflects a substantial opportunity for growth and impact in the region's educational landscape.
Partnership with Amesite aims equip Benedict College students and their extended service community with skills tailored for the jobs of the future. With Amesite's robust AI capabilities, this initiative promises to eliminate the constraints of outdated platforms, saving both time and costs, while accelerating the delivery of high-impact learning opportunities. Moreover, Leadership envisions far-reaching effects, expecting this effort to attract investment from both government and private sources to further enhance its impact and effectiveness.
Partnership with Amesite moves to expand WVNCC's educational capabilities, emphasizing the delivery of flexible and accessible online offerings. Amesite's CEO, Dr. Ann Marie Sastry, underscores the importance of extending WVNCC's impact and engaging a broader community audience through innovative online education. WVNCC's mission, deeply rooted in empowering individuals to achieve academic and career goals, aligns seamlessly with this partnership's objectives. The partnership aims to foster economic development by strengthening ties with regional businesses, further solidifying WVNCC's commitment to nurturing a highly skilled and adaptable workforce that can excel in a competitive global economy.
Building an AI-Powered Ecosystem for Its Partners – Amesite’s Technology Content Solutions
Amesite has reported on the importance of use of AI in education, including use of Natural Language Processing (NLP) and integration of generative AI models to offer student support, to drive improved educational outcomes. The company says that their use of NLP and generative AI in features and tools such as news feeds, AI-content generation, and 24/7 student support are based on studies on social media, which can now be used for the benefit of education.
Amesite is also creating content that is relevant for workforce training. By working with experts, they are rolling out programs that their customers can readily offer. Their agility in delivering systems that offer a combination of low-cost student support and relevant content enables their college partners to perform on par with larger universities, leveraging Amesite's technology to punch above their weight class.
NurseMagic™
Amesite recently introduced its first B2C mobile application, NurseMagic™, an innovative and proprietary app designed for nurses. This new web app uses Artificial Intelligence (AI) to provide helpful and easy-to-use tools for over 5.2 million nurses, making their daily tasks easier and more efficient. With over 1200 registered Beta version users signed up, NurseMagic features include:
MedDecode: Quickly translates medical terms into simple language.
Professional Email Generator: Creates practical work emails quickly.
CareTalk: Assists nurses in talking to patients effectively and with compassion.
Wellness Break: Coaches nurses on taking effective breaks during the day.
MedExplainer: Enables nurses to explain medical practices to patients.
Image-to-Text: Converts images to text for easy reading and communication.
MedUverse: Offers key information about medications.
NurseTea: Collects instant feedback through surveys that are shared with the community.
This initial launch into the B2C space using innovative AI applications has the potential to quickly expand throughout a professional community hungering for connection, advice and information
Amesite’s Global Learning Program Guide
From the guide: “Determined to deliver courses that are timely, AI-driven, and geared for upskilling? Amesite is here to revolutionize your content journey. We understand the intricacies of crafting compelling content and the challenges of navigating third-party offerings. That's why we not only offer in-demand programs and custom-build content tailored for you, but also thoroughly evaluate third-party courses for their relevance, quality, and effectiveness.
Leverage the expertise of globally-renowned professionals as they guide and craft courses that resonate with excellence. And if you're in a hurry? We've got you. Move at the speed of AI using our services, ensuring that you consistently deliver the best to your audience. Amesite Partnership means excellence in content, always.”
Active Shooter Preparedness Training: Enhancing Workplace Safety
Amesite also provides Active Shooter Preparedness Training, developed with renowned expert Chris Grollnek. This program addresses a vital safety concern, given that 80% of active shooter incidents occur in workplaces. This program is geared for rapid deployment, ensuring organizations can swiftly enhance safety measures while benefiting from potential cost savings - every dollar spent on safety training potentially saves $3 in safety costs. Amesite's swift action in this program reaffirms its commitment to delivering cutting-edge, impactful learning solutions that prioritize both workplace safety and societal well-being.
Implicit Bias Training: Addressing Workplace Inclusivity
The launch of Amesite's Implicit Bias Training program, crafted in collaboration with expert Larry Davis Jr., targets a critical need in workplace inclusivity and bias training, a market with over $8 billion in annual spending. This program is designed for rapid deployment, enabling organizations to respond swiftly to the substantial losses - over $450 billion annually - due to employee disengagement from workplace biases. Amesite's commitment to speedily deploy this initiative underscores its dedication to providing impactful solutions that swiftly improve workplace environments and contribute to societal well-being.
Customer and User Accolades
(Amesite Retention Rate 98% vs. Industry Average 68% - 73%)
Amesite reports an overall retention rate (the percentage of enrollees that remain in a course) of 98% for paid learning experiences on its platform. These results overwhelmingly exceed industry norms. On average, online retention rates for paid online courses are only between 68-73%. Amesite retentions in specific categories follow:
- 96% retention for technology upskilling programs, such as data science or electric vehicle technologies
- 98% retention for professional development programs, such as implicit bias or building successful customer relationships
- 97% retention for cohort-based programs, such as logistics or coding for gaming
- 98% retention for self-paced programs, such as implicit bias or smart manufacturing
Customer and User Accolades
Why Investors Should Care
Amesite (Nasdaq: AMST) has built a high-tech solution that has been relentlessly innovated to offer a best-in-class infrastructure, AI-first process and industry leading experience for organizations. Amesite’s out-of-the-box solution allows partners to start generating revenue with professional learning programs instantaneously.
Investment Highlights
- A Unique Business Model for Education
- Company has seen a 169% increase in meetings held and a 118% increase in sales opportunities since the Business Model Pivot
- Proven AI-Powered Product That Meets Enormous Market Need with Industry-Leading 96-98% Student Retention
- Targeting High Margins with Lean Operations – 50% reduction in SG&A in last FY
- Scalable Customer Contracts & Revenue Growth
- Catalytic Events That Validate the Business Model
- No Corporate Debt
- Increasing investor awareness and featured In Fox Business News, Yahoo Finance, CNBC, Bloomberg, Forbes, Business Insider, and other publications
A CEO with Experience: Dr. Ann Marie Sastry
- Founding CEO of Sakti3 (acquired by Dyson in 2015 for $90M).
- Recognized at the White House by President Obama at the White House in 2015 for her technology entrepreneurship.
- Her technology and business work have been featured in WSJ, Fortune, Forbes, The Economist, USA Today, The New York Times and on the cover of Inc.
- Arthur F. Thurnau Professor (UM’s highest teaching honor) at the University of Michigan, 17 years.
- Co-authored over 100 publications and 100 patents and filings and delivered over 100 invited lectures and seminars globally (NIH, NSF, NAE, MIT, Stanford, UC Berkeley, Oxford, Cambridge, etc.).
- Boards of the International Council on Clean Transportation (ICCT), the Alpha House Family Homeless Shelter, Lucius Partners and others.
- Holds PhD and MS degrees from Cornell University, and a BS from the University of Delaware, all in Mechanical Engineering.
Statistical Insights
- US Education is a $1.4 Trillion industry (Source).
- US Continuing Education is expected to reach $93.25 Billion by 2028 (Source).
- Global Online Education is anticipated to increase to $319 Billion by 2025 (Source).
- In 2022, 53% of global IT companies reported accelerated AI adoption over the previous two years (Source).
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