What is EdTech?
Education Education has remained broadly the same for hundreds of years. Technology is changing that. Quickly. So what exactly is education technology or edtech as it is commonly termed?
EdTech, or education technology encompasses everything from the simple use of computers to teach maths and reading to children in elementary schools by Stanford University professors in the Sixties, to the submission of homework online, entire online degree platforms, informal mobile learning applications, gamification or virtual reality techniques.
What started as an experiment in education delivery is now being transformed by a new breed of technology entrepreneurs.
Just as technology, and particularly the digital era, has disrupted and improved most major segments of our economy, education and training will in the same way undergo a tech revolution.
As we witnessed the digitization of the media industry via the profusion of new content, audience fragmentation, data centricity and the convergence between content and platform players, so will they impact the education in market, leading to a raft of opportunities for innovators in EdTech.
However, EdTech is not just about reformatting books and training manuals, or even about the individual technologies themselves.
It is about applying digital technology to deliver a new form of learning architecture.
An architecture that harnesses the social reach of the internet, that delivers personalized learning and training that can automatically adjust to an individual’s learning competence and that uses big data analysis to understand the most effective ways for learners to progress.
In changing the traditional architecture of education, EdTech has the power to create efficiencies, cut costs and enable new levels of standardization and democratized access.
It is set to transform the future of how education is resourced, taught, consumed and, ultimately, the results that it can then yield – both for the individual and for society as a whole as we continue to build the knowledge economy.
Worldwide, the combined education and training industries account for spending of more than $4 trillion, representing a huge 84 percent increase since 2000.