Education Technology
Gone are the days when education meant sitting in a physical classroom with a teacher. Living in the 21st century with an ongoing pandemic and a never-ending competition to come out of the pack victorious amongst students irrespective of the level of the institution they are currently enrolled in. The emergence of the Fourth Industrial Revolution has brought its own set of disruptions in the labor market. The demand for skill-based jobs and the inability to meet that demand, hybrid work environment, a need to constantly renew and be up to date with the latest developments in the field of study, accessibility, and personalized experience act as the catalyst for creating numerous avenues to innovate in the Education Sector.
Moving onto the second stakeholder in this whole story, Intuitions require new ways of thinking, digital capabilities, insights, agile infrastructure, and personalized offering to withstand changing education demands. At this juncture, enters Education Technology saving the involved stakeholders and minimizing the educational gap between the learner and institutions is Educational Technology or simply- EdTech.
In simple layman's terms, EdTech involves creating, utilizing, and managing technological resources to facilitate learning and performance improvement. According to Forbes, last year alone, India witnessed EdTech deals worth more than $3 billion and more than thrice in terms of deal value compared to the previous two years combined. As of date, India houses more than 9000 EdTech startups including five unicorns, out of which, three emerged last year. By 2030, it is estimated to grow to $30 Billion, under the automatic route of approval, India permits FDI up to 100%. The new Education Policy 2020 also serves as an impetus to the sector by promoting the role of technology and innovating in education.
Apart from the private sector’s involvement, there are several notable initiates from the Government sector such as the NPTEL (National Programme on Technology Enhanced Learning), which now offers 600+ courses across 22 various disciplines is the largest online repository in the world of courses in engineering, basic sciences, and selected humanities and management subjects. Further IIT-Madras being the founder of this initiative also has started an online B.Sc degree in Data Science and programming.
Irrespective of the party that is taking this learning experience to the digital form, it is important to see the driving force or factors that have led to the beginning of a colossal growth of the EdTech industry in India.
The Internet Penetration
India is the second-largest online market according to Statista with 560 million people and expected to touch 650 million in 2023. With almost half the population with a smartphone and an active internet connection, it makes the job of these enterprises easier to promote educational content to all age groups.
Increased Purchasing Power
Parents nowadays want what’s best for their kids and don’t hesitate to try out new methods that they believe will make their child come out in flying colors in the cut-throat world. Their increased disposable income has made these online platforms affordable for their kids. Reports show that there is a considerable price advantage over offline counterparts.
Often this becomes an insensitive marketing strategy adopted by the very same enterprises that aim at tapping on to the sentiments of parents who just want to see their kids become successful in life.
Skill Development
With information getting outdated at a rate faster than ever before there is a constant need to keep oneself updated and to match the skill set that is demanded in the market. EdTech steps in and presents itself as the savior in such a situation and the demand to learn new skillset drives them to expand more.
With these many driving forces, the EdTech Industry has boomed and this boom sometimes comes at the cost of unethical marketing and the freedom to behave autonomously due to a lack of regulation. At this point, the government must step in and implement necessary guidelines to regulate them but not hinder the very growth that is catching the spotlight.
One of the main hiccups that these online platforms face is that they lack the recognition that most employment places demand. Often institutions that hire people demand a professional degree from a recognized board or university and this now throws a question of the integrity and validity of taking up online courses.
A Nobel idea of making education more accessible should be streamlined and designed to remove the few threats and flaws it has. Making sure study material is accessible to everyone and reducing the economic disparity should be the main focus. India with 22 official languages it is crucial that the study material is customized and made in the regional languages also. Regulations that are needed to streamline this industry should have the long-term goals of India becoming Atmanirbhar ( Self- reliant ) and producing a labor force that is on par with the global standards.
“If we teach today as we taught yesterday, we rob our children of tomorrow”
-John Dewey
Adopting new methods of teaching doesn’t necessarily have to come at the cost of compromising our roots and values. Nothing can replace a teacher in a classroom, but there are ways that we can adapt to non-conventional methods that complement a teacher’s teaching in the very same classroom.
