Babbel's new CEO is prioritising the integration of artificial intelligence into its language-learning platform. The company aims to leverage AI tools to enhance its offerings and provide users with more effective and personalised learning experiences. This strategic shift comes as Babbel abandons plans for an initial public offering, focusing instead on organic growth and innovation within the language education market.
The language learning platform has been using AI to create tailored content, enable speech recognition, and monitor user progress. The company believes AI can provide new learning methods and address transactional communication needs. The CEO stated that AI won't make language learning obsolete but will redefine it.
Babbel had planned an IPO on the Frankfurt Stock Exchange in September 2021, targeting a market capitalisation in the €1.3-1.6 billion range, but unfavorable market conditions caused them to put the IPO on hold. The company is now focused on expanding its language-learning product with emerging AI tools.
