Future Technologies in Edutech Sector - Beginning of a New Normal?

"Education is the most powerful tool which one can use to change the world"

As aptly said, Necessity is the mother of all inventions?and so is the case of a wholesome change in the Edutech sector in the era of pandemic. After the emergence of the Covid-19 pandemic, with closures of institutions and broader acceptance of online digital education, the market for Edutech products grew multi-fold. As a result, the whole Edutech sector witnessed an exponential rise in terms of the user base, inflow of investment, and multiple innovations because of market trends and competition.

Digital learning has been an integral part of the on- and off-campus student experience in the past few years. Universities all over the world are incorporating online learning into their curriculum. They increase student employability by focusing on skills and practical application in this new digitized era. For learners worldwide, equitable access to high-quality learning is no longer a dream; it is already a reality. Rapid product innovation in the Edutech Sector has been critical to increasing access and assisting learners in achieving their objectives and providing valued benefits to them in the long run while also allowing companies in this sector to accelerate their online strategy.

Ed-Tech in COVID 19

According to an estimate, India's online education sector is predicted to be valued more than USD 3.5 billion by 2022, nearly five times what it was worth in 2019. By 2030, it is expected to reach the USD 30 billion mark. After U. S, India has the world's second-largest e-learning market. Today, India boasts about 9000 education technology startups in the country, with about 750 of them raising a total of USD 8.5 billion. Edutech Companies are growing at a great pace, and many of them are turning into unicorns.

• Edutech Companies witnessed the growth of user base by 2.5x and revenues pumping is due to increased paid subscription-based learning.
• The Edtech market is already enjoying significant traction due to the acceleration in the expansion of smartphone usage and the migration to digital-learning models.
• With a market share of USD 93 million, Reskilling and Online Certifications are the largest categories.
• Perceived convenience and flexibility with startup procedures with a wide range of study materials are some attributes that are considered motivating factors when choosing an online channel.

Technological Tools as Future of Edutech Sector

Technology has in itself the power to make or break according to me. Hence, the changes that have been brought into this Edutech sector provided the world of higher education with the opportunity to explore new opportunities and gain a deeper understanding of issues that had previously been only partially explored. Implementation of Cutting Edge Technologies in the Edutech Sector can help overcome current limitations to offering high-quality education to people all around the globe and enhance customer satisfaction metrics.

Augmented and Virtual Reality

Augmented Reality (AR) and Virtual Reality(VR) are already widespread and in use. Interactive learning platforms that use augmented reality (AR) empower students and teachers to enjoy the classroom experience. Educationalists can use this technology to broaden the classroom environment by including creative videos for practical implementation and visuals, making it more engaging and interactive for pupils.

Consider a textbook that shows numerous animals and the sections of their bodies for students to learn about. With AR technology, this may now be accessed more efficiently. A 3D model displays in AR format immediately in front of the pupil by just scanning the relevant QR code of the animal in the textbook. The learner can then rotate the model, zoom in and out, and get detailed information about the animal they've chosen to observe in augmented reality.

Other objects can be treated differently, such as solar systems, flowers, mountains, and rocks. Using augmented reality in education can aid in better learning and comprehension of subjects by allowing for greater flexibility. AR will aid in integrating text, images, videos, and documents, allowing students to learn more about the subject.

Artificial Intelligence and Machine Learning

AI may be used to develop personalized exams for students in various courses and grades. The same may be done on a smartphone or a laptop with similar ease.

AI can also be used to provide individual, insightful reports for distinct pupils, focusing on their strengths and areas for improvement. Students should be evaluated on both their strengths and opportunities for improvement in a fair assessment. While current evaluation methods emphasize general dexterity, AI can establish a more fair and unbiased approach for evaluating students.

Another way AI and machine learning might help the education sector development is to sift through crowded content. Additionally, ed-tech players can give students with AI tutors to provide additional support. Even customizing education to meet the needs of different students with varying aptitudes is a monumental task. Still, Edtechs can efficiently overcome this bottleneck with the help of AI, which can assist teachers and students in creating courses that are tailored to their specific needs and provide feedback on the course's overall success. Chatbots, or conversational AI systems, can improve student engagement in their overall learning experience. Chatbots can be differently utilized, including delivering a lesson via a series of messages, including it into the feedback loop, and more.

Hyflex Model

Hyflex model perceives the need for a technology based setup wherein physical classes reorientation can be justified with an online presence. Thus to cut short, this technological model believes in the power of flexible and blended learning with a mixed pedagogy of physical and an online presence. Hyflex Model has been the need of the hour in this pandemic period wherein education on the one hand, cannot be stopped. On the other hand, physical presence entirely increases the risk of COVID infection.

In a Hyflex blended Course with technology integrated for an unbiased learning pedagogy, students are required to participate in the same mix of online and in-person activities. The "flexible" feature of HyFlex, on the other hand, is that students have a choice in how they participate and engage themselves in the course and with the information provided through reading materials or assignments.

Some Basic Technological Requirements in a Hyflex Model are:

1. Intuitive Video Conferencing Platform
2. Conferencing Camera
3. Scalable Audio Solution
4. Engaging Smart Boards

Gamification

Course Instructors and Students are becoming more at ease with using interactive tools and game-based learning in the classroom. Gamification is a strategy that promotes student engagement by utilizing various activities and rewards. Gamification is a modern educational approach that systematically leverages gaming culture's multiple elements and characteristics. It is deeply rooted in the motivational framework of experiential learning.

The goal is to make the course more interesting by substituting grades with a 'experience points system,' in which students or course taker's marks are decided by the number of points they acquire at the end of the course. With each assignment/test that feels rewarding to them, students can progress towards different levels of mastery.Turning each week of the semester calendar into a kind of quest where students may earn badges for both completion and mastery is one of the creative ways educators can gamify learning in their classrooms. Instead of marks, the aim here should be to reward student accomplishments with appropriate badges to show that their accomplishments are more than merely academic.

Conclusion

According to my point of view, Edutech has surely been diversified with loads of segments and Higher Education is by large and far the most promising segment along with K12.Professionals getting the chance to explore market trending courses and budding students getting the opportunity to learn industry ready courses both in view of soft skill development as well as technical skill development. Hence advancement of technology in the edutech sector due to rapid increase in Online Learning will surely pave the way for more perceived customer benefits in the coming days and hence increase in customer satisfaction metrics through timely feedback, retaining customer loyalty and boosting confidence in the new trending technological platforms for even users who are not tech-savvy.Hence it will be really interesting to watch out in the coming days how Edutech Companies through their sheer innovations balance the gap and live up to "Education which is affordable and meaningful for all".