DETROIT, Feb. 06, 2024 (GLOBE NEWSWIRE) -- Amesite Inc. (NASDAQ: AMST), a leading artificial intelligence software company offering a cloud-based learning platform for business and education markets, announces aggregate retention numbers for users enrolled in programs delivered on its technology stack, and its growing sales activity.
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
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.
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.
Dr. Ann Marie Sastry, CEO of Amesite, commented, “We invested deeply in the tech and we believe we are seeing the rewards of this now, in terms of user outcomes and reduced costs of delivery for us and for our Customers. Our AI-powered programs and infrastructure enable institutions to deliver learning with lower costs and price points, and we are working now to drive scale.”
Mr. Sai Nittala, Amesite’s Senior AI Manager, commented, “Our 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.”
Mr. Brandon Owens, Amesite’s VP Sales, commented, “Our technology investments have resulted in an offer that every college and university can leverage. Our partners appreciate our straightforward business terms and our ease of implementation.”
About Amesite Inc.
Amesite is an ed-tech, SaaS company with the most advanced artificial intelligence driven online learning platform in the industry, providing both content creation and a best-in-class infrastructure for the multi-billion-dollar online learning markets in business and education. For more information, visit https://amesite.com.
Forward Looking Statements
This communication contains forward-looking statements (including within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended) concerning the Company, the Company's planned online machine learning platform, the Company's business plans, any future commercialization of the Company's online learning solutions, potential customers, business objectives and other matters. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "may," "will," "should," "would," "expect," "plan," "believe," "intend," "look forward," and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement. Risks facing the Company and its planned platform are set forth in the Company's filings with the SEC. Except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations Contact:
MJ Clyburn
TraDigital IR
clyburn@tradigitalir.com
