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Wind of Change With Edtech
- According to a report by Google and KPMG, the online education market has the potential to touch $1.96 billion by 2021, as everyone-from school-going students to MBA aspirants to CXOs of multinational corporations-is a potential learner.
Aditya Malik
From a very young age, students are conditioned to attend brick-and-mortar establishments that still have a highly theoretical exam-driven system, where the emphasis is on scoring marks, not on gaining knowledge or understanding its application in the real world. This diminishes their potential. However, for the past decade, Edtech has been changing things for the better. It has had a revolutionary impact on the education landscape, helping education spread to the farthest corners of the globe. Edtech start-ups are fulfilling the needs of the new generation of learners, who are seeking experiential and interactive courses that facilitate authentic, practical skill development.
The Rise of Edtech
Edtech start-ups, especially proÂminent players such as BYJU’s, Toppr and Eruditus, have attracted a significant amount of investor attention. Other players are growing inorganically, investing in strategic Indian Edtech to add newer markets and course domÂains. According to a report by Google and KPMG, the online education market has the potential to touch $1.96 billion by 2021, as everyone-from school-going students to MBA aspirants to CXOs of multinational corporations-is a potential learner.
The Growth Graph
The evolution of communication, cheaper internet, gamification, artificial intelligence and machine learning-powered platÂforms are the drivers of the changing face of global education and the democratisation of education. The mobility revolution has also given wings to the Edtech industry. Educators are now using smartphones as tools for imparting knowledge. Real-time updates, interactive curriculums, online tutoring and edutainment are some of the methods Edtech companies use to broaden their reach. Technological innovations are also enabling these firms to reach Tier 2 and Tier 3 cities-it has become possible to provide HD-quality educational videos even at internet speeds of 512kbps, ensuring that students in places with lower internet bandwidth also have access to the best educators in the world.
The future is exciting for Edtech companies. With their immense scope for technological innovation, they are creating modern learning experiences for the new generation of students-who require skill development over all else.
– The writer is CEO and co-founder, Talentedge
Source: https://www.indiatoday.in/magazine/education/story/20190722-wind-of-change-edtech-1567251-2019-07-12
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