Skillsoft Advances Technology Skills Training for the AI Era With New Codecademy Learning Experiences
- Skillsoft (NYSE: SKIL) introduces new AI-powered enhancements to Codecademy for immersive learning experiences.
- Deeper integration of generative AI (GenAI) aims to provide interactive and personalized learning journeys.
- Codecademy's new capabilities include prompt engineering functionality, code explanations, project hints, mock interview simulator, and virtual coding assistant.
- The expanded curricula will offer career-based prompt engineering courses and educate learners on writing, testing, and refining AI prompts.
- Skillsoft's focus on equipping workers with emerging technology skills highlights their commitment to enabling future success for learners and organizations.
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The integration of generative AI into Codecademy's learning platform represents a significant step in the evolution of online education technology. By leveraging the capabilities of AI, Skillsoft is positioning itself at the forefront of a market that is increasingly demanding personalized and efficient learning solutions. This move could potentially expand the company's market share and customer base in the competitive e-learning industry.
From a market perspective, the introduction of AI-powered features such as real-time feedback, coding assistance and mock interview simulators could lead to improved user engagement and retention rates. These enhancements are likely to attract new customers while increasing the lifetime value of existing users. As organizations continue to emphasize the importance of upskilling and reskilling their workforce, particularly in technology roles, Skillsoft's enhanced offerings may see increased demand, potentially translating into higher revenue streams.
Investors will be attuned to the potential financial implications of Skillsoft's enhanced AI capabilities. The initial costs associated with the development and integration of these AI tools may impact short-term profitability. However, the long-term benefits, such as scalability and the ability to offer cutting-edge educational products, could justify the investment. The key metrics to watch in the upcoming quarters would be subscriber growth rates, average revenue per user (ARPU) and customer acquisition costs (CAC).
It is also important to consider the competitive landscape. If Skillsoft's AI-powered enhancements lead to a superior product offering, this could result in a competitive advantage. However, if competitors are quick to follow suit with similar or more advanced offerings, Skillsoft will need to continue innovating to maintain its market position.
The educational technology sector is rapidly evolving, with generative AI being one of the latest disruptors. Skillsoft's move to integrate GenAI into its Codecademy platform reflects a broader industry trend towards personalized and adaptive learning experiences. The focus on prompt engineering and AI-related skills is in line with the current demand in the tech job market, where understanding and leveraging AI is becoming increasingly important.
By offering courses such as 'Prompt Engineering for Software Engineers' and 'Prompt Engineering for Marketers,' Skillsoft is not only expanding its curriculum but also providing targeted training for specific job roles. This strategic alignment with industry needs could enhance the relevance and attractiveness of Skillsoft's offerings. However, the effectiveness of these enhancements in improving learning outcomes and job readiness will be critical in determining their long-term impact on the industry.
AI-powered enhancements accelerate technology skills development for learners and organizations
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“The proliferation of GenAI tools in the workplace is reshaping the demand for skills and talent. We’re critically focused on equipping workers with the learning opportunities required to harness emerging technologies so that they can thrive in the face of change at any point in their career,” said Kunal Ahuja, General Manager, Skillsoft’s Codecademy consumer business. “By combining our experience and expertise in interactive coding education with the power of GenAI, we’re re-writing the playbook for technology skills training and helping to enable future success for every learner and organization.”
Codecademy’s new AI-powered capabilities elevate its interactive-first approach to skilling and help learners increase comprehension, practice and apply skills in simulated work environments, and tackle complex programming problems with greater confidence and efficiency. The enhancements include:
- Prompt engineering functionality. By accessing ChatGPT directly within Codecademy, learners can gain hands-on experience using GenAI tools as part of the programming workflow and build critical AI-related skills.
- Code explanations and project hints. AI-powered coding assistance and an intelligent hint system provide learners with customized and contextualized information based on the state of their code to accelerate projects and improve debugging skills.
- Mock interview simulator. Building on the company’s GPT-4 powered job-readiness checker, forthcoming mock interviews will help learners strengthen communication skills and prepare for technical interviews to land a new role.
- Virtual coding assistant. Real-time feedback and custom guidance bring increased interactivity and personalization to learning journeys.
Codecademy is also delivering an expanded curricula to meet the growing demand for AI skills. This includes career-based prompt engineering courses such as “Prompt Engineering for Software Engineers” and “Prompt Engineering for Marketers,” as well as courses educating learners how to write, test, and refine AI prompts. The enhanced curricula will allow learners to better understand comprehensive GenAI concepts and incorporate the technology into their workflows to drive growth for themselves and their organizations.
“I know I wouldn’t be as far in my career without Codecademy, both before getting into tech and continuing to use it on-the-job. From DevOps to cybersecurity to new programming languages and frameworks, Codecademy has consistently helped me learn about new technologies and take on more complex concepts required at work,” said Pj Metz, Education Community Manager, GitHub. “Codecademy’s combination of quizzes, projects, and lessons allow for hands-on learning and immediate practice, helping me build and retain these critical skills.”
Over the last six months, Skillsoft has released several innovative enhancements for customers to accelerate and achieve their learning objectives. Last fall, the company unveiled CAISY™ (Conversation AI Simulator), an AI-powered coach that empowers employees to build and refine leadership and risk management skills. Skillsoft also released dozens of AI and GenAI courses, Aspire Journeys, and Skill Benchmarks, which cover topics ranging from large language models to ethics to prompt engineering.
The new Codecademy learning experiences are rolling out to Codecademy Plus and Pro users and will be available for enterprise customers in the coming months.
Resources
- Learn more about the Codecademy enhancements
- Explore Skillsoft’s Codecademy AI course offerings
- Read more about Skillsoft’s GenAI strategy
About Skillsoft
Skillsoft (NYSE: SKIL) delivers transformative learning experiences that propel organizations and people to grow together. The Company partners with enterprise organizations and serves a global community of learners to prepare today’s employees for tomorrow’s economy. With Skillsoft, customers gain access to blended, multimodal learning experiences that do more than build skills, they grow a more capable, adaptive, and engaged workforce. Through a portfolio of best-in-class content, a platform that is personalized and connected to customer needs, world-class tech and a broad ecosystem of partners, Skillsoft drives continuous growth and performance for employees and their organizations by overcoming critical skill gaps and unlocking human potential.
Cautionary Notes Regarding Forward Looking Statements
This document includes statements that are, or may be deemed to be, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created by those laws. All statements, other than statements of historical facts, that address activities, events or developments that we expect or anticipate may occur in the future, including such things as the expectations related to Codecademy’s new AI-powered capabilities and expanded curricula, related market opportunities and the ability to capitalize on such opportunities, the potential of AI-driven solutions to improve learning, and the timeline for the new Codecademy offerings are forward-looking statements. Also, when we use words such as “may”, “will”, “would”, “anticipate”, “believe”, “estimate”, “expect”, “intend”, “plan”, “project”, “forecast”, “seek”, “outlook”, “target”, “goal”, “probably”, or similar expressions, we are making forward-looking statements. Such statements are based upon the current beliefs and expectations of Skillsoft’s management and are subject to significant risks and uncertainties. All forward-looking disclosure is speculative by its nature, and we caution you against unduly relying on these forward-looking statements.
Factors that could cause or contribute to such differences include our expectations regarding general economic, political, and market trends and their respective impacts on our business; our ability to respond to rapid technological changes, develop new features or products, or gain market acceptance for such new features or products; our ability to improve quality and ease of adoption of our new and enhanced product experiences, features, and capabilities; our ability to manage our growth or plan for future growth; risks associated with the usage of artificial intelligence technologies; and those described under “Part I - Item 1A. Risk Factors” in our Form 10‑K for the fiscal year ended January 31, 2023. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements included in our other periodic filings with the Securities and Exchange Commission. The forward-looking statements contained in this document represent our estimates only as of the date of this filing and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update these forward-looking statements in the future, we specifically disclaim any obligation to do so, whether to reflect actual results, changes in assumptions, changes in other factors affecting such forward-looking statements, or otherwise.
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