Top Trends And Challenges That Define EdTech Industry’s Health In 2023

Over the past two years, the edtech Industry has seen many uncertainties. The year 2022 has proven to be both challenging as well as brimming with opportunities.

At the end of 2022, we got a sneak peek of upcoming technologies, such as artificial intelligence, AR/VR, etc. At one point, we saw tremendous growth in the edtech industry, while at another, rising tuition fees and excessive screen time of students got us in a dilemma.

Now that we are into the first quarter of 2023, we are here to talk about the?educational trends?that are having a positive as well as negative impact on the edtech industry.

We will also take help from Evelyn’s industry report,?“Trends and Forecasts on Learning Effectiveness in 2023”.?In this report, many educational pundits, who have a rich experience of more than 15 years in the education industry, answered some questions regarding concerns affecting the e-learning industry and opportunities coming in 2023 to look forward to.

Edtech Industry Trends in 2023

During and after the pandemic, e-learning and blended learning started catching the limelight. They became more of a necessity rather than a luxury, as the pandemic refused physical contact completely.

In 2023, both these?learning styles?proved to have the biggest impact on the ed-tech industry.

Apart from this, AI has been in the news for the last few years. Just last November, OpenAI surprised us with ChatGPT and DALL-E 2. Let’s have a deeper look at all of these trends.

Artificial Intelligence

?ChatGPT and DALL-E 2 have been in the news a lot since last year. OpenAI announced that more than a million people signed up for experimenting with this sensational chatbot. This chatbot has the potential to generate long-form content, extend longer conversations and compose, write song lyrics and educational content too.

According to Grandview Research, the real boost in the AI market was experienced after the year 2021. At that time, the size of the AI market was around $93.5 billion (USD).

During the last quarter of 2022, the AI market reached $136.65 billion, which is around a 50% increase from the previous year.

It is also estimated that by the year 2030, the market size of AI would reach $1,810 billion. A few decades ago, artificial intelligence was just a thought in progress. Now, we have robotics, machine learning, natural language processing, artificial neural networks, and whatnot.

In the next few years, it is believed that robots might have a certain level of self-awareness.

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