HOW AI AND ML ARE REVOLUTIONIZING THE EDTECH INDUSTRY?

[sarika]

“AI and ML (Artificial Intelligence, Machine Learning) are creating havoc in several fields and industries, including education. The global AI in the education market will reach $5.80 billion by 2025 at a CAGR of ~45%.”

EdTech has emerged as one of the most important sectors right now, thanks to rapid digitization and the use of technology. The phenomenal growth of this industry has attracted vast amounts of investment and funding from all over the world. Although many people continue to question the use of technology from a young age and the effects it can have on children, the sector continues to expand at a steady rate. Artificial intelligence and machine learning have proven to be extremely useful in this area.Artificial intelligence (AI) and machine learning (ML) are increasingly changing the face of education and altering educational technologies and institutions. The future of education is changing, and in a few years, things will look entirely different. Ed-tech is increasingly expanding its wings and gaining huge worldwide recognition, from smart classrooms to customised coaching applications. Billions of dollars are being invested in EdTech software growth, with the United States, China, and India attracting the most money.

2021: A year full of opportunities

The EdTech sector will benefit from AI and machine learning by allowing it to sift through cluttered content. AI will ensure that content is evaluated at several points and that excellent recommendations are made. Students can also use free educational services. This type of framework, which is built into an EdTech platform, fills in the gaps in explanation that may arise in classes, ensuring that all students are creating the same logical base.
The most well-known EdTech companies are now incorporating AI and machine learning into their operations. Although we at Digital Aristotle were among the first to do so, Byju's, Vedantu, and Kiddopia are also notable names in this regard.
In the education sector, artificial intelligence and machine learning assisted institutions in adopting cloud technology, which lowered various operating costs.
It aided in segmenting the entire educational process online and enabled easy access to subjects through various integrated software.
AI and machine learning technology have proven to be excellent source of education for students with special needs. Many specially-abled students were able to learn the subject through speech recognition and virtual reality technology, which enabled them to easily and perfectly master even the most difficult topics.

Impact of COVID-19 on the EdTech Industry

In 2020, education spent $227B on digital. Although we expect this to rise to $404 billion by 2025, it is still just 5% of total spending and is seen as conservative by many. Although the long-term effect of COVID-19 on education models has yet to be seen, we expect an increase in spending on digital technology in education over the next few years, as well as greater long-term investment in new digital models. Ed-tech is increasingly expanding its wings and gaining huge worldwide recognition, from smart classrooms to customised coaching applications. Billions of dollars are being invested in EdTech software growth, with the United States, China, and India attracting the most money.

By 2025, advanced technology applications in education and learning would have reached a tipping point, with AR/VR and AI being fully incorporated into core education delivery and learning processes. While virtual and simulated training is already commonplace in adult training and upskilling, we're seeing an increase in their use in formal education settings.

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