Impact Of AI & Chatbot Technology In The Ed-Tech Sector
How AI and chatbots are emerging as the engagement tools in the heavily cluttered edtech market
In the earlier days, education used to be simple with a teacher, blackboard and a limited number of books and students. Today, education has evolved due to the numerous advances made by technology. A student living in a remote village in Maharashtra can easily access lessons on her mobile phone or get her queries cleared with the click of a few buttons. The traditional pedagogical techniques such as rote learning and textbook learning, in particular, have greatly benefited from chatbot development. Education chatbots have improved communication, increased productivity and minimized uncertainty from interactions. New-age edtech platforms are now helping to solve the next-level problems in education by using AI and chatbots as the engagement tools.
Understanding the potential of technology in the education sphere, a lot of entrepreneurs are also showing interest and developing exciting new technologies that would help students understand and grasp lessons in a better way. The edtech sector is growing at an unprecedented pace and is bringing the sector to the notice of big-ticket investors. A lot of PE/VC firms are tapping this sector, especially the K12 segment and open online courses, where Indians are the second largest consumers. The idea is to revolutionize education by introducing customized learning and strengthen the relationship between a student and a teacher with active collaboration. Most of these edtech startups are leveraging artificial intelligence and chatbot technology to move away from the traditional teaching techniques.
Currently, worth $5 trillion globally, the investment in education technology is touted to reach $252 billion by the year 2020. The edtech players in this sector are rolling out offerings such as VR content, parent engagement tools, soft skills development tools, digital libraries, test papers, language tools, and real-time scenario engagement, as they have realized that their success lies in engaging students and making them active participants throughout their education journey.
According to Tracxn in 2012 alone, there were 2,400 edtech start-ups in India and more than 200 new ones are coming up every year since then. The government’s Digital India campaign under PM Modi’s leadership leverages the power of the internet to transform education in the country. In a report by Google and KPMG, the online education industry in India is poised to grow eight times to become a $1.96 billion industry by 2021 as an increasing number of students consume content through e-routes. With a lot of edtech players cropping up every year, it has become essential for each one of them to stand out from the crowd through innovative technologies. While a few platforms swear by customized learning techniques, the others are banking on artificial intelligence and chatbots to improve efficiency.
AI has stepped into every sector and is transforming the lives of the millennials. From online shopping to TV viewing and banking services, AI is the new buzzword across sectors. In the education segment too, AI-powered technology is trying to make a mark by not only assessing what a student knows but also helping the child determine the topics that he/she needs to master. In a class of 60 students or more, every child will have different learning abilities, interests and skills. It will be a time-consuming task for teachers to monitor every child’s speed and skills and deliver lessons accordingly. Even some of the top-notch schools in the country are unable to provide personalized learning facilities to students. That is where chatbots come into the picture as the most logical and affordable alternative for personalised learning. Chatbots can turn to be virtual assistants-cum-advisors who adapts every student’s learning capabilities and passes on information in a way, where students are able to follow their own learning pace.
AI also offers a recommendation based on a student’s competency and delivers auto feedback based on questions on various topics. The advent of AI and chatbots, in particular, has reinforced communication modules and has enabled quick query resolution of the learners. For instance, new age edtech platform like Toppr is helping its users to clear their doubts 24x7. These artificially intelligent conversational tools, built to improve student interaction and collaboration, are acting as a game changer in the innovative edtech world.
With the growing preference towards faster customer service and acceptance of AI-based tools in business operations throughout the region as well as globally, the global chatbot market is slated to witness a CAGR of 31% from 2018 to 2024. As per Gartner, 85% of the consumer interactions will be supported without human interaction by 2020, and chatbots are also moving towards consumer applications of AI. It can provide a great learning experience and address frequent queries, with nominal human intervention. The only factor which remains to be seen now is how the edtech sector can turn classrooms into flexible spaces and position themselves as valuable components in the educational equation.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house
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