Education industry is accepting the AI technology with open arms across the globe. Governments are also taking interest in advancement of technology to improve the quality of education. But the process of adopting educational technology (edtech) is not easy because of certain challenges. The biggest challenge is people are still reluctant to accept the change because of fear of replacement by machine. Furthermore, AI integrated education platform is more of an action and less of a theory. Another challenge, which most of education institutions, especially public schools are facing is inadequacy of money. Along with educational institutes, edtech startups are also facing strong competition from technology giants such as Udemy and Coursera as they are also coming with learning courses and products.
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Startups are coming up with the innovative tools to disrupt the industry. Their innovation is expected to address the unmet needs. In this respect, startups such as Content Technologies Inc., Third Space Learning, BridgeU, Knewton and Elemental Path have launched their product in 2018.
Content Technologies Inc., the US based AI R&D Company is leveraging deep learning to deliver customized books. It received funding of $200 million in series D. It launched Cram101 and JustFact101 to replace old text books into smart and relevant learning guides, making study time-efficient. Cram101 can turn any textbook into smart guide with chapter summary, true/false and multiple choice practice test along with the respective author and chapter information. Another software Justfact101 highlights and generates chapter specific summary on the spot. The company is providing solutions to all level of education as well as targeting corporates and hospitals for internal training and workshops.
Third Space Learning, the UK based company founded in 2013 with the funding of $4.85 million. The company provides one-to-one tutoring platforms with real-time feedback about their students’ performances, strengths and weaknesses in math’s. It makes easy to keep track of learning happening outside classroom. The company is primarily targeting the students aged from seven to eleven years. This program is four year program and receiving good recognition from top schools in the UK.
BridgeU, the UK based startup with the funding amount of $8.2 million helps students in making crucial decision about higher studies on the basis of real time data. Students can built their profiles by incorporating data on subject interests, grades and preferences in BridgeU. With help of big data and AI algorithm it generates recommendations about universities and courses. This company is majorly collaborating with Schools in multiple countries to work on students data. In order to attract more business company need to add more features such as virtual tour of universities in their program.
Knewton received the total funding of $157.3 million from year 2010-2016. The company’s headquarter is located in Greater New York. It provides students with tailored recommendations regarding exactly what to study, teachers with analytics to better support each student, and publishers with content insights to develop more effective digital products.
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These are some innovative AI integrated tools developed to make education possible for everyone. But it is difficult to predict which tool will gain more popularity among teachers and students. Edtech startups are receiving huge support from governments. It will be interesting to see which company will come in front with more innovations and change the traditional education model.
In April 2018, Reliance Industries has entered in agreement with Embibe and will invest $180 million in the next three years. Embibe is an AI platform that facilitates test taking and claims to improve performance in competitive exams. It will be very interesting to see how they come up with new product, making education accessible for widest possible group in India.
Educational institutes have expanded their horizons, giving a way to technology to make learning more practical. In the coming times, these institutes will be attracted towards technology with change in people’s perception. Technology will become integral part of classroom.
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