House introduces bipartisan bill on AI in banking and housing
The bill would require a report on how these industries use AI to valuate homes and underwrite loans
Read more...Artificial intelligence is being used at all levels of education, especially at higher education: 82% of college students say they've used AI technologies, compared to 58% in high school. For example, AI chatbots can help college students with responding to admissions queries, connecting students to course information and student services and delivering reminders, improving their writing skills, and optimizing their study time.
With college students already embracing this technology, Cengage, the U.S. higher education business of global edtech company Cengage Group, announced the launch of its GenAI-powered Student Assistant in beta on Wednesday.
Student Assist, which will be embedded into Cengage's online learning platform, MindTap, will guides students through the learning process, helping them understand concepts, apply learnings, and arrive at the correct answers, rather than simply providing them with answers. It will also provide students with access to relevant resources, giving them tailored feedback, as well as the ability to connect with key concepts, in order to improve their learning.
The launch comes after two years of research from Cengage, which included over 3,000 faculty and 200 students, to better understand classroom challenges and how AI can enhance learning.
"Cengage Group’s patent-pending GenAI approach was used to develop the Student Assistant. It leverages intelligent language models, alongside Cengage-owned content, to tailor the Student Assistant to a specific discipline within the Cengage portfolio. Our Student Assistant is trained to prioritize pedagogy and has advanced expertise in specific disciplines," Cheryl Costantini, SVP, Product Management, Cengage Academic, wrote in a blog post.
"We are evaluating multiple Large Language Models (LLMs) to ensure the most optimal model is used for each discipline. This approach is unique from other GenAI-powered assistants in the market, and we believe it creates a better learning experience for the student, as it helps to focus the technology on a specific discipline and on learning over providing the answer."
Student Assist will be used by more than 5,000 students who will have the opportunity to test it during this coming Fall semester. During the beta evaluation, Cenage will be assessing several factors, including student engagement, learning outcomes, satisfaction and value for both students and educators before expanding availability in Spring 2025.
To start, Cengage selected four courses for the beta test where it believes AI can deliver meaningful value: Principles of Management, Organizational Behavior, Lifespan Psychology, and Principles of Economics.
The global AI in education market size reached $3.5 billion in 2023, and it is expected to reach $55.3 Billion by 2032, with a growth rate (CAGR) of 35.82%.
"Generative AI (GenAI) presents an immense opportunity to enhance the learning experience, foster student engagement and improve educational outcomes," said Michael E. Hansen, CEO, Cengage Group.
"At Cengage Group, we recognize the importance of taking a thoughtful approach to developing and implementing AI solutions. We have spent a considerable amount of time talking to students, faculty and other industry stakeholders to ensure we introduce a solution that addresses the challenges facing students and educators in the classroom today and upholds the highest standards of academic integrity."
The bill would require a report on how these industries use AI to valuate homes and underwrite loans
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