What are the opportunities in EdTech?

By S Adeeb Mujtaba Ali

EdTech's financial impact

Inherently inefficient are traditional education systems.

Globally, the education and training industries spend more than $4 trillion, an increase of 84% since 2000.

Despite this, reading and math results in the United States have remained constant, despite the fact that it is estimated that 85 percent of every dollar spent on education is spent on its delivery — for example, the price of bricks and mortar and teaching staff.

As a result, the link between rising educational spending and improved educational outcomes is shaky, and EdTech has a clear opportunity to lower the cost of traditional education delivery.

This is especially true for e-learning methods, which are credited with allowing one-to-many delivery at a lower cost.

Cost savings, on the other hand, aren't limited to the world of e-learning. Reliable broadband services, as well as the adoption of other technologies like the Cloud, have made policies like Bring Your Own Device (BYOD) in schools more feasible, allowing students to use their own devices. As a result, school hardware, which currently accounts for 60% of IT budgets, receives less funding.

User engagement and impact on learning have both improved

Saving money on educational or training budgets in this way allows more money to be allocated to educational elements like smart learning software that creates customized lesson plans or innovative digital content like engaging video materials that will improve outcomes.

Indeed, in the ever-expanding field of educational technology options, user experience and engagement are quickly becoming the most important differentiators.

Content is becoming increasingly immersive, thanks to the integration of multi-media, gamification, mobile casual and informal learning apps, and peer-to-peer learning platforms, which are all designed to not only attract but also keep students engaged – all the way to the end.

Video learning platforms, for instance, have been shown to speed up the learning process while also being a user-friendly format. As software and 3D animation engines advance, the link between video and immersive environments is becoming stronger, as evidenced by the video game industry.

EdTech is also strengthening the link between what happens in the classroom and what happens outside the classroom (at home, on the bus, etc.) by making teacher-approved digital educational resources, such as assignments and test prep material, available at all times, and by creating a continuum of touch points in the learning experience for students.

This is altering the way students consume education in the same way that cloud technology has altered our consumption of music and television.

Big data's advantages

Teachers and assessors now have far more data on individual accomplishments and progress thanks to the growth of EdTech.

Adaptive learning has been fueled by the introduction of data analytics techniques in education, which allows data to be fed back into the system to influence learning programmes and structures. It is possible to identify personalised learning programmes and fill knowledge gaps.

Not just that, but the ability to access and store data on students is fueling the development of Learning Record Stores that can be carried from one educational institution to the next, providing individuals with permanent documentation of what they've learned and accomplished.

Since education is now a lifelong requirement, rather than something we can leave behind at schools and colleges, it is becoming increasingly important for school leavers and graduates to prepare for the labor market.

Education is being democratized

EdTech's significance is not solely based on its ability to reduce costs and engage students in new and creative ways.

It's also about how it can level the playing field and make education more accessible to everyone, resulting in democratization.

Online services, mobile apps, and new educational formats have vastly improved access to education while also improving the learning process, while online and Cloud technologies offer exciting content standardization opportunities.

Today, a sponsored inner-city school can receive the same quality and content as a well-funded school in a wealthy neighborhood.

This is true not just on a school-by-school or country-by-country basis, but on a global scale, providing developing countries with access to developed educational institutions, both academically and professionally.

Developing the knowledge-based economy

The knowledge-based economy, which we invest in for our children through the school system, higher education, and ongoing professional development and training, is a critical component of the rest of our economic lives.

We lose our ability to train skilled workers, build competitive advantages as nations, and generate growth if we don't have it.

To keep the knowledge economy growing, we must maintain a level of innovation to improve the efficacy and efficiency of our learning systems, just as we must in other sectors.

This is why EdTech is so important.

Types of Education

By S Adeeb Mujtaba Ali

Education may take many forms, including assisting individuals in learning new skills and encouraging them to reflect on what they have learned. Educators must also educate students on how to locate and utilize information. Education transmits societal, national, and global information from generation to generation. Education, in particular, aids and guides people in their transition from one social class to the next. Individuals, societies, and nations that have been empowered via education have a competitive advantage over those that are at the bottom of the development pyramid.  Education Types Education encompasses more than what occurs within the classroom's four walls.

On the basis of these characteristics, a kid receives education from both his outside and inside school experiences. Formal, informal, and non-formal education are the three major categories of education. Below, we'll go through each of these sorts.

Educating Formally

Formal education, often known as formal learning, takes place in the classroom, where students might gain fundamental, intellectual, or vocational skills. Small children may go to a nursery or kindergarten, but formal education usually begins in elementary school and continues through secondary school. Higher education (or post-secondary education) is commonly obtained at a college or university, which may provide an academic degree. It is associated with a specific stage which are provided under a certain set of rules and regulations. Formal education is delivered by properly trained instructors who are expected to be effective communicators. It also follows a stringent code of conduct. Both the student and the instructor are aware of the facts and actively participate in the educational process. 

Formal Education: 

Some Examples Classroom learning College and university degrees, as well as school grading/certification Planned instruction in a variety of areas with a well-defined syllabus obtained by attendance at the institution.

 Formal education characteristics 

Formal education follows a hierarchical framework. It's well-thought-out and purposeful. Fees are paid on time. It uses a grading system that is based on chronological order. It is subject-oriented and follows a syllabus. The curriculum must be completed within a certain time frame. Teachers instruct the youngster.

Formal education has the following advantages: 

A well-organized educational paradigm and current course material. Teachers that are well-trained and experienced provide students with information. Learning that is organized and methodical. To move pupils to the next learning level, intermediate and final evaluations are required. Managerially and physically, institutions are well-organized. The end result is a certificate that is officially recognized.

Formal education has its drawbacks.

For example, smart pupils may become bored while waiting for the academic session to end before moving on to the next step. Due to the presence of both good and bad pupils in the classroom, there is a risk of negative behaviors being adopted. Wastage of time because, despite competent trainers' encouragement, certain lethargic pupils may fail to learn correctly.  Some unprofessional and non-standard education systems may result in students wasting time and money, leading to dissatisfaction with formal education and a desire to pursue non-formal education. Compared to other types of learning, school is expensive and inflexible. 

Education in a Non-Formal Setting 

A parent teaching a youngster how to cook or ride a bike is an example of informal education. People can also receive an informal education by reading a large number of books from a library or visiting educational websites. When you don't go to school and don't employ any particular learning technique, you're engaging in informal education. There are no deliberate efforts involved in this form of instruction. It isn't premeditated or purposeful. It may be learned in a market, a hotel, or even at home. Informal education, unlike formal education, is not delivered via a school or college. Informal schooling is not organized on a set schedule. There isn't a particular curriculum that must be followed. Informal education is made up of real-life experiences and living in the family or community. Teaching the youngster some fundamental skills, such as numeric characters, is an example of informal education. Someone who is studying their native tongue. “If a person standing at a bank learns about opening and keeping an account at the bank from someone,” this is an example of spontaneous learning.

Informal Education's Unique Features

 It is not constrained by any physical boundaries. There isn't a set curriculum. It was not prepared ahead of time and has no set schedule. We receive informal education via everyday experience and learning new things, thus there are no fees to pay. In a natural sense, it is a life-long process. There are no qualifications or degrees to gain, and there is no pressure to master new skills. You can obtain information from a variety of sources, including the media, personal experiences, friends, and family, among others.

Informal Education's Benefits

Learning occurs more naturally since you may learn from your daily experiences anywhere and at any time. It entails actions like conducting individual and personal studies about a topic of interest using books, libraries, social media, the internet, or informal trainers. Makes use of a range of methods. There is no time limit. Learning is less expensive and takes less time. There is no need to employ specialists because most professionals are ready to share their valuable information with students and the general public via social media and the internet. Learners can get the necessary knowledge via books, television, radio, or talks with friends and family.

Informal Education Has Its Drawbacks 

Disinformation may be spread through the internet, social media, television, radio, and talks with friends and family. It's possible that the methods used aren't the best. There isn't an appropriate time frame or schedule. Unpredictable outcomes, resulting in a waste of time. The learner's self-assurance is low. Discipline, a positive mindset, and excellent habits are all lacking. 

Formal and Informal Education

Adult basic education, adult literacy education, and school equivalency preparation are examples of non-formal education. Someone who is not in school can gain literacy, other fundamental skills, or work skills through nonformal education. Other options include homeschooling, specialized training (such as programmed learning), distant learning, and computer-assisted training. Non-formal education is delivered knowingly, carefully, and methodically. It should be set up for a single group. Non-formal education should be tailored to the specific requirements of the target population. This will need flexibility in curriculum design and assessment. Non-Formal Education Examples Nonformal education includes Boy Scouts and Girl Guides who promote sports programs such as swimming. Programs for physical fitness. Adult education classes in the community. Some organizations have established free adult education courses.

Non-formal Education Characteristics 

Non-formal education is organized and occurs outside of the school system. The schedule and curriculum can be changed as needed. It is practical and vocational education, rather than theoretical formal education. There is no upper age restriction for nonformal education. It is possible that fees or certifications are not required. It can be full-time or part-time education, and one can earn while studying. It entails the acquisition of professional abilities.

Non-formal Education's Benefits Practical and vocational training are both available. Minds that are naturally developing and do not wait for the system to change. Literacy with skill development in which self-learning is valued. Age, curriculum, and time are all flexible. A system of open-ended education that involves both the public and private sectors. Regular examinations aren't necessary. It is not necessary to receive a diploma, certificate, or prize. 

Non-formal Education Has Its Drawbacks 

The number of people who show up varies. It is often just a waste of time because the test is not required on a regular basis and no degree or certification is issued at the conclusion of the training session. Learning basic reading and writing abilities is essential. There are no qualified and experienced teachers on staff. Pupils may not have the same level of self-assurance as typical students. Some schools provide phoney certifications through online courses just to make money.