Source: Duo Jing
Image Source: Generated by Wujie AI
2023, a year of change and adjustment. In the midst of a global capital chill, educational technology has coincidentally encountered the "big model" and ushered in dual innovation in product and service models. More and more tracks around the AIGC technology core have seen new vitality. Looking at the global landscape, lifelong learning has become a trend, vocational education is empowering the workplace, and "micro-learning" is gaining popularity on social platforms… Duo Jing has comprehensively compiled multiple reports from foreign professional education media and summarized several development trends in the global education industry for 2024.
In March, GPT-3.5 gained popularity, and AIGC technology was evaluated as "likely to trigger the fourth industrial revolution." The concept of AI has become a gold mine, attracting various industries to "mine" and instantly igniting the learning enthusiasm of all age groups.
In the field of subject education, the roles played by the big model in 2023 are "language learning assistant" and "family tutor." For example, CheggMate focuses on providing accurate answers and diverse, personalized problem-solving approaches for students in math and science. Language learning platforms like Duolingo emphasize the construction of "dialogue." Students will have a real-time companion with multiple identities such as "learning companion" and "pocket tutor." Instant conversational artificial intelligence will provide multidimensional, personalized services such as guidance, support, testing, and advice to help bridge knowledge gaps.
In the field of quality education, AIGC applications have also made considerable progress. For example, KinderLab Robotics, a STEAM education company, offers AI courses that guide children to interact with KIBO robots to learn about the principles of artificial intelligence. It is understood that with the popularity of ChatGPT in the first half of this year, domestic STEAM quality education companies have also incorporated AIGC concepts into their course promotions, with "AI," "human-computer interaction," and "big models" becoming high-frequency words in advertising and marketing.
At the same time, using data to drive personalized teaching has become a prominent feature of quality education. The integration of science, technology, engineering, arts, and mathematics (STEAM) will play a key role in improving mathematical outcomes. This transformation marks an academic revolution. It not only lays a solid foundation for students' learning but also focuses on their future development, enabling them to stand out in a world that values analytical acumen and creative intelligence.
Training based on AIGC has become a "hot cake" in the online education track. Searching for keywords such as ChatGPT and AIGC on the American online learning platform Udemy, the most popular courses have attracted over 100,000 students. The courses introduce the underlying technology of AIGC, its practical applications in various fields, and some practical skills to help various professional groups adapt to AI office work and learning more quickly. In March of this year, the online learning platform Kajabi launched the AI Creator Hub, which provides users with six AI-based tools based on GPT-3 to help teachers generate course outlines, landing pages, sales emails, course materials, social media content, and sales video scripts.
According to Crunchbase statistics, so far, no education technology company has raised or exceeded $100 million in venture capital financing. In 2021 and 2022, there were more than 60 such financings globally. Calm and cautiousness have replaced the fervor in the education technology investment field in the previous years.
The most eye-catching unicorn companies in the global education technology field have all performed poorly. After experiencing turmoil, the valuation of the Indian education giant Byju's has been reduced to $5.1 billion by top investor Prosus this year; meanwhile, the American company Bitwise Industries filed for bankruptcy in June. The company had previously raised over $158 million in venture capital.
However, even in this situation, there are still some noteworthy financings in the education field this year, including big data, artificial intelligence, mobile learning, and personalized tutoring. In terms of artificial intelligence, online tutoring tool and service provider GoStudent secured $95 million in debt and equity financing. The language learning platform Preply in Massachusetts completed a $70 million debt and equity financing led by Horizon Capital. Platforms teaching technical skills also received some investments, including two skill training platforms: Hack The Box, focusing on cybersecurity, raised $55 million in Series B financing in January, and StudentFinance, focusing on technical skills, raised $43 million in Series A financing in February.
Experts believe that the education technology industry will continue to experience substantial growth in the next decade. In fact, technology is expected to continue driving the growth of global education services, largely achieved by reducing costs and providing more learning opportunities. Investment in education and educational technology is unlikely to "dry up." After all, education is a global market worth tens of trillions of dollars.
People have drawn ample lessons from the severe impact of the epidemic on classroom learning. 2024 will witness the seamless integration of traditional classroom teaching methods and digital learning platforms. Online learning is no longer a backup plan but an indispensable part of modern education. Artificial intelligence will completely change teaching, assist educators in management tasks, and customize learning paths for students based on their individual needs and learning styles. This harmonious integration creates a more personalized, engaging, and interactive educational experience, catering to the diverse needs of each student.
With the wave of online learning development, "micro-learning" (or "nano-learning") as a novel learning method has successfully been validated in corporate training and is expected to truly appear in K-12 education in 2024. This learning technology targets small modules of learning content, presented to students in the form of short, easy-to-understand tutorials or mini-courses. The focus of the courses is to repeat the same concepts over time to increase memory retention.
The rapid growth of short video content such as TikTok and Instagram Reels illustrates the potential of using micro-learning to engage students. Students have already turned to TikTok for homework help, allowing them to access new ideas and topics, but also exposing them to potential misinformation. Micro-learning becoming a trend in K12 education will enable teachers to better plan the "micro" content that students seek for learning, providing them with engaging content and breaking down complex topics into less daunting ones.
Augmented Reality (AR), Virtual Reality (VR), and Artificial Intelligence (AI) are expected to become more common as educational tools and resources in 2024. These technologies will beneficially impact education in some way behind the scenes, such as using AI through educational technology tools and platforms tailored to students' learning. For real-world education, blended learning has transitioned from a new concept to the norm for many institutions. A large number of schools are already transforming classrooms to implement hybrid teaching models, not just recording lectures and putting them online or live-streaming from the classroom.
The new digitally-focused classrooms may be equipped with upgraded projectors that can display Zoom chats on the screen for interaction between students inside and outside the classroom. These classrooms may also include more video screens to create an immersive online experience while allowing teaching assistants to answer questions from online students in the classroom. Some classrooms may also incorporate new networked sensors. These sensors are part of Internet of Things (IoT) technology and can share data in real-time. They have many uses, including tracking student attendance, turning off lights when the classroom is empty, controlling temperature, and monitoring laptops and tablets.
In other applications, AR, VR, and AI will be used directly by students. Students will engage in VR and AR experiences to gain a more immersive learning experience through these tools. As user-friendly AIGC tools become increasingly popular, students will have the opportunity to use AI in creative work. There are also AI programs that can help students find high-quality resources for research assignments, assist them in improving writing, explaining complex math problems, and more. When students graduate, they will encounter and use these technologies in their university and professional careers, so early exposure will prove beneficial.
In traditional terms, "college students" specifically refer to high school graduates aged 18 to 24. During a major economic downturn, businesses are impacted, and many job positions are lost. According to a report, about 80% of the unemployed positions are held by employees who have not received formal education beyond high school.
In the current era of education popularization and lifelong learning, the importance of college education and the necessity of preparing for future work are beginning to be valued by the broader workforce. Therefore, individuals with multiple roles—full-time employees, parents, caregivers, and retirees—are enrolling in colleges to reacquire or enhance skills. On the other hand, institutions have changed policies and models to help non-traditional students balance demanding schedules and competing priorities. This has further attracted more non-traditional students. With the emergence of online project management, online education, and micro-master's programs, this number will continue to rise.
Over the past decade, the number of mainland Chinese students studying abroad has been increasing year by year, reaching a peak of 710,000 in 2019. In the 2019-2020 academic year, the number of new scholars from China studying in the United States decreased by 10.6%; in the 2020-2021 academic year, it decreased by 38.7%; and in the 2021-2022 academic year, it decreased by 26.1%. According to the Institute of International Education's data, even before the pandemic, the number of students studying in the United States was stabilizing, while the proportion of immigrants to the United States was also significantly decreasing.
Before the pandemic, the United States was the top choice for Chinese students studying abroad. Now, the options for Chinese students studying abroad are becoming more diverse. There are indications that more and more Chinese students are choosing to study nearby, with Malaysia, Singapore, and Hong Kong becoming new destinations for studying abroad. As the higher education level in these countries and regions gradually rises, the cost of studying abroad, the post-graduation work environment, and the career advancement path have also become key considerations for students studying abroad.
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