Today, technology pervades every part of our lives, including our job, our homes, our phones, and, more lately, our schools. Given the digital or Edtech transformation of workplaces across sectors — and the rising automation of our enterprises — it stands to reason that the next generation of employees will be steeped from an early age in a culture of experimentation and invention with emerging technologies and software. But it isn’t the main purpose of education technology, commonly known as EdTech.
It also offers an alternative to ‘conventional’ classroom learning techniques by integrating students in new, creative forms and allowing approaches to be tailored to the individual learner.
In this article, we’ll discuss how Edtech transformation threat to traditional schooling.
1. Introduction to Edtech
Education technology, or EdTech, is the application or use of technology to improve, enhance, or revolutionize educational delivery and practices. For the sake of this report, PwC has defined the EdTech sector broadly as any organization working at the convergence of education and technology.
Globally, the EdTech sector has achieved critical mass, with a market value of more than $250 billion USD. EdTech enterprises, skills, and products are now rising from the periphery of the Education sector to become more mainstream. EdTech is now infiltrating the realm of conventional Education powerhouses, including our global universities, vying for the same learners by providing alternative learning experiences and routes (e.g. online, micro-credentials, stacking courses) that the traditional players do not provide.
2. Incorporating New Technology and Methodologies of Edtech Transformation
EdTech Transformation is not a threat rather it is enhancing and giving traditional schooling a new and better outlook. Incorporating new technology and methodologies into old courses is, predictably, difficult. The worldwide education landscape is being reshaped by technology and EdTech businesses. The education industry is undergoing a massive upheaval that is hastening its digitalization. COVID has hastened this transition, requiring educational institutions to rely on education technology, or EdTech, to remain open throughout the epidemic. EdTech will continue to play an important role in global education reform by testing the boundaries and limitations of present educational models and methodologies.
EdTech transformation firms have already contributed significantly to total education ecosystem innovation, such as entirely online education delivery, digitally enabled assessment delivery, and virtual work integrated learning experiences. However, the focus of the EdTech transformation ecosystem has recently shifted to various digitally enabled student engagement models across the education value chain, such as pre-enrollment peer-to-peer engagement to support recruitment, “in-semester” student-to-student engagement, and support models, and alumni-to-alumni mentoring and networking. Despite this flurry of activity, it is estimated that half of the EdTech startup landscape is still in the subscale/early stage, implying that major innovation and disruption are still on the way.
3. Education Institutions can work with EdTech for Mutual Benefit
Today, technology pervades every part of our lives, including our job, our homes, our phones, and, more lately, our schools. Given the digital transformation of workplaces across sectors — and the rising automation of our enterprises — it stands to reason that the next generation of employees will be steeped from an early age in a culture of experimentation and invention with emerging technologies and software. But it isn’t the main purpose of education technology, commonly known as EdTech transformation. It also offers an alternative to ‘conventional’ classroom learning techniques by integrating students in new, creative forms and allowing approaches to be tailored to the individual learner.
What comes next for a university looking to capitalize on EdTech transformation activity right on its doorstep? Our top three lessons for educational institutions, based on our experience, are:
Consider EdTech transformation businesses and enterprises to be sources of external innovation rather than rivals to be challenged and defended against. Adopt an “inside-out” strategy, beginning with your institution’s strategic goals and internal capability gaps, to ensure that you have a clear understanding of the strategic purpose of working with EdTech.
Understand the many engagement methods you may use to collaborate with EdTech and be clear on when and where they are most suitable depending on the strategic goals you are attempting to solve.
While some in the education sector may be hesitant to abandon old methods, embracing a new wave of tools, models, and approaches may become less of a choice as students demand education and courses that match their specific needs. While implementing and securing the adoption of new technologies will always be a challenge—for any company or sector—dipping a toe in the water doesn’t cost the bank.
Education institutions wishing to work with EdTech may maximize strategic value by employing EdTech transformation to assist strategy delivery. The overarching strategic goal and aspirations of an institution should always be the fundamental motivator behind any interaction with the EdTech ecosystem. This creates clear limits on where and why the institution should interact with EdTech transformation, concentrating on the key segments and sub-segments that can contribute the most to fulfilling their goal and generating transformative change. In general, this will lead to one of four strategic goals for educational institutions.