Jeff Maggioncalda: Yes. And that’s definitely what we’re thinking about. We launched, the Generative AI Academy has multiple pillars. We have more to come, but the first two are Generative AI for everyone and Generative AI for execs. It’s intentional, why we did it that way. The Generative AI for everyone, as you can imagine, it’s not about the quantity of courses. Everybody doesn’t need to know everything. Everybody sort of universally needs to know a few things about what it is, how it works, what the risks are, what this might mean for change and how your job might be done differently. We are seeing and we are intending that Generative AI, especially for everyone, can be a way of just adding a bit more value, getting out in front of a lot more employees, becoming a lot more relevant, even before the companies know exactly who needs to with skills and how will my software engineers job change?
It’s like, start by laying the foundation and readiness that things are going to be changing around here. We’re not charging a ton of money for it, but to your question, everybody’s taking the calls. Everybody wants to talk about it. They’re not all yet organized to act on it. They don’t have really big budgets yet that I’ve seen saying, yes, I got $5 million for Generative AI training, but everybody knows that they’re going to do Generative AI. Everybody knows that training is going to be important and they’re trying to figure out how do you structure it, what should the design look like, what kind of courses, what kinds of skills, and so we’ll be figuring that out. So I would say early, I think it’ll help with retention. I think there will be some upsell, but again, where it will be really interesting is when you can say these specific job roles with these specific skills taught by these courses and these hands-on labs will unlock this kind of business productivity and leverage for your company.
That’s why I think it’s going to get more interesting and we’re not there yet.
Ryan MacDonald: Super helpful. Maybe the follow up quick for Ken. In the preparatory marks, I’m talking about the consumer segment here, it was noted that nearly 7 million enrollments came in for the AI courses in 2023. He talked about how many of those were sort of roughly net new enrollments to Coursera and then in that context, how that, how you’re thinking about sort of that 20% growth algorithm between sort of new enrollments coming to the platform versus sort of maybe higher conversion rates in 24. Thanks.
Ken Hahn: Yes, Ryan. I don’t have that data in front of me, that breakdown between new and existing. Generally with new courses, it’s bringing people in from the outside more, but I don’t have the, I’d be happy to share with you after [indiscernible] can find it. I don’t think it’s material non-public information. It’s a good question and I don’t know the answer, but I’ll find that for you and you can.
Unidentified Company Representative: Yes, so I’ve got the statistic.
Ken Hahn: You had time to look it up.
Unidentified Company Representative: I did. If there’s a metric that we track internally and I’m not going to get, obviously, Ken is glaring at me right now, but there’s a metric called first-time payers. So this is someone who came to the platform and paid for the first time. If you look at that quarter-on-quarter throughout 2023, the percentage year-on-year growth is quite a bit higher in Q4 than it was in Q3, which is quite a bit higher than it was in Q1. So hopefully that reflects, I can’t tell you for sure that that was Generative AI courses, but we are seeing higher year-on-year rate of growth in first-time payers on platform.
Ryan MacDonald: Helpful.
Unidentified Company Representative: Given it’s a new topic, it would make sense.
Ryan MacDonald: Yes. Yes.
Jeff Maggioncalda: All right. Great. Thanks, Ryan. That wraps today’s Q&A. A replay of this webcast will be available on our Investor Relations website along with a transcript in the next 24 hours. Thank you.
Operator: Ladies and gentlemen, that concludes today’s call. Thank you for joining. You may now disconnect.
