The Global Higher Education Market was valued at USD 51.80 billion in 2016 and is projected to reach USD 105.72 billion by 2025, growing at a CAGR of 8.25% from 2017 to 2025 (Updated Report).
The global education market is huge and poses a great many opportunities for the different stakeholders within this industry.
The vast majority of revenue in this industry comes from tuition or program fees. The gross profits range between 60-90% and the net profit averaged out somewhere between 2-10%.
The online education industry will be a $1.96 billion industry by 2021.
With the education industry moving online and gradually entering into niche segments like K-12, STEM, etc. it has become even more important to stand by technology. You can see that the online industry is thriving with the increasing interest among the users, and the accessibility and availability it offers.
From being a regular industry to becoming one of the most innovative industries, education has surely transformed itself to offer better solutions to the students and teachers.
Artificial Intelligence is not only aiming to support the industry but also offer enhancements that can make it more capable and enterprising. The idea is to offer solutions that are personalized to both the teachers and the students through automation and a basic understanding of their needs.
By one estimate, AI contributed a whopping $2 trillion to global GDP last year. By 2030, it could be as much as $15.7 trillion, “making it the biggest commercial opportunity in today’s fast-changing economy. (PwC).
From redefining how healthcare works to transform the mobility industry, AI has led disruptions almost everywhere.
Here, we will talk about how AI has been a game-changer for the education industry and look at the ways in which it has remodeled this industry.
Technology has made learning accessible. With the current technologies, you can make learning inclusive and enhance the system.
Let’s talk about some of the ways in which AI is transforming the education industry.
#1 Personalization in Learning
When you enter a classroom, you will see that no two students think and learn in the same fashion. They are completely different, and they need to be taught with a certain difference. The teachers are not able to focus their attention individually in a class of 10 students. Now imagine if the class was filled with 20 students, what would happen?
Artificial Intelligence will help remove the unfair practices and make education more inclusive and engaging for all participants. In case a student is struggling with a particular subject, then the technology will customize the lessons and the assignments accordingly. As a result, the people who are struggling will be able to engage in the class better, and they can utilize their full potential. The recommendations, the assignments, and even the teaching practices are personalized.
With AI, teachers can be more proactive in lesson planning. They can utilize different methods to help the students understand a particular subject. The teachers can even work directly with the students and get their feedback as a result.
#2 Help with Lesson Planning
Ask any teacher about the difficulties they face, and pat comes to the reply- “lesson planning is the most difficult aspect of teaching.”
You may ask why? Well, for the one you are never really sure how to go about teaching a particular subject. Lest you should know that, how to plan the day’s lesson and the assignments is another tough aspect.
Artificial Intelligence is helping the teachers lay the groundwork for this challenge by helping them plan the lessons and make the classwork effective.
The technology can help
As a result, the teachers are able to plan the assignments and tests as well as the teaching methods for the particular subject with ease. In fact, if the teacher has sought a particular technique, AI will provide the necessary feedback on the same. So, if the particular technique is difficult, then AI will immediately ask the teacher to cancel it out. As a result, the lessons are more productive, and the teacher’s work becomes easier.
#3 Automate the Admin Tasks
Admin tasks within the education system can be both mundane and painful. There is a tendency to forget most of the tasks, which results in issues within the structure.
For instance, sending the school’s timetable or connecting with the parents to remind them of an upcoming PTA are admin related tasks that take up a lot of time. Sending the same email to each and every one of the parents, sending reminds, and lots of other backend tasks such as fee collection, sending the uniform, etc. can be time-consuming.
Artificial Intelligence will not only make it easier for the admin to perform these tasks, but also automate some of them.
Teachers can take the help of the technology to set question papers, and even seek help in questions that should be part of an exam. Planning assignments, planning the education material, and even outdoor activities can give headaches but, with AI, you have someone to help you around these aspects.
In fact, automation can also help the processing and classification of paperwork.
#4 Accessibility and Availability
Digitization, combined with AI, education has become globally accessible and easily available to everyone. Whether you are impaired physically, or you are a foreign language speaking student, there are no barriers to AI.
You can easily get the things translated, and get audio as well as a video for the lessons, which will make everything easily available for you. If you cannot attend the classes, AI will not only power the classes for you but also make it personalized, accessible, and interactive.
If you want to study from a university in a foreign land, you can choose to do so in a subject of interest with this technology. Basically, AI is breaking down the traditional methods of teaching, and making it more personalized and organized for you.
#5 Support outside Class
For parents, tuition and support outside the class for their students is a concern. Most parents are unable to offer the support essential to making learning easy and effective, which is why they need some support. AI offers this support by providing them with the techniques and material that can make teaching more effective and easier.
There is a range of tutoring and study programs that the parents can join and learn about the different teaching and learning styles. You can adapt them to your teaching methods, and make your lessons practically effective for your children.
From students to teachers to the parents, and even the admin team, AI is making lives easier in the education domain. With the right use of the technology, you can improve lesson planning, implement better teaching styles, make your classes inclusive, and even flip the classrooms when needed.
As a result of AI, your lessons would be more engaging and experiential. Plan your AI app or module in a way that you can offer better learning while facilitating security in the solutions.
Main Photo Credit: Medium