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“AI and ML (Artificial Intelligence, Machine Learning) are creating havoc in several fields and industries, including education. The global AI in the education market will reach $5.80 billion by 2025 at a CAGR of ~45%.”

EdTech has emerged as one of the most important sectors right now, thanks to rapid digitization and the use of technology. The phenomenal growth of this industry has attracted vast amounts of investment and funding from all over the world. Although many people continue to question the use of technology from a young age and the effects it can have on children, the sector continues to expand at a steady rate. Artificial intelligence and machine learning have proven to be extremely useful in this area.

Artificial intelligence (AI) and machine learning (ML) are increasingly changing the face of education and altering educational technologies and institutions. The future of education is changing, and in a few years, things will look entirely different. Ed-tech is increasingly expanding its wings and gaining huge worldwide recognition, from smart classrooms to customised coaching applications. Billions of dollars are being invested in EdTech software growth, with the United States, China, and India attracting the most money.

What part does artificial intelligence play in education?

In education, AI is now being used in the form of skill development tools and testing methods. As AI educational solutions mature, it is expected that AI will be able to assist teachers and administrators in identifying gaps in teaching and learning, helping them to perform better than ever before.

In the field of education, AI and ML has several applications. The breakthrough benefits both teachers and students. AI would support the education sector in a variety of ways. Byju's, Vedantu, and other e-learning platforms, in particular, are providing a competitive advantage to educational institutions. It has launched artificial intelligence (AI) e-learning tools to communicate with students and provide more personalised tutorials.

Over the last five years, China, which has the world's largest education market, has led education VC investment growth. In 2020, China will account for over 60% of all global VC investment in education, followed by the United States (15%), India (14%), and Europe (5%). Although not as large, VC investment in Indian EdTech has nearly quadrupled since 2018.

The following are some of the ways that machine learning and artificial intelligence are transforming the face of education technology:

Bridging the gap in skills

Many countries suffer from substantial skill mismatches, which are caused by the education system's failure to adequately represent employer demands, as well as labour market frictions that prevent individuals from being properly matched to employment.

More than half of the students believe their post-secondary studies strengthened their employability, and more than a third of employers believe skills shortages are a leading cause for entry-level vacancies, according to a survey conducted in developed and developing countries. Not only does this result in economic underperformance, but it also ensures that many people are not given the chance to achieve their full potential. Artificial intelligence can also play a crucial role in bridging the gap between education and labour markets. By linking talent with work prospects, digital innovations are already making a difference.

Attracting and retaining students

Educators would be able to use family, academic, and technical data, in addition to government data, to ensure that students profit from the courses they select. The importance is derived not just from students' ability to excel academically, but also from the institutions' ability to assist them in finding meaningful employment. People that are unsuitable based on conventional indicators of academic achievement but have high potential based on other abilities and traits could be identified using machine learning. Students will benefit from better targeting because it will allow institutions to attract the right mix of people, increase learning outcomes, and help schools and universities improve their offerings over time. Universities are now looking at AI software that can help students stay in school longer. Some colleges and universities are experimenting with advanced analytics and machine learning to classify students who are having difficulties and assist them before they drop out.

Unleash the power of personalised learning

Attracting and attracting students is important, but the true educational breakthrough will most likely come from a fundamentally new approach to learning, whether in or out of the classroom. Many attempts have been made in recent decades to adapt learning to and student and move away from a centralised approach. Adaptive learning strategies seek to overcome the limitations of traditional classroom instruction by tailoring lesson plans to a student's prior experience, learning interests, and success. Adaptive learning claims to deliver the right content, at the right time, in the best way to each student, rather than delivering a single lesson to the entire class, which can leave struggling students behind or disengage fast learners.

Bringing teachers' true worth to light

Teachers' jobs could be deprived of time-consuming administrative duties in the future, such as supervising and answering repetitive questions. Teachers will have more opportunities to tutor and coach students, which are valuable activities that are (at least for the time being) uniquely suited to humans.

Natural language, computer vision, and deep learning may be used to assist students with repetitive questions or as tutorial supervisors, allowing teachers to focus on other tasks. A Georgia Tech professor and his team developed a robot teaching assistant in 2014 that answered students' online questions for five months without their knowledge.

The driving factors of AI and ML in the education industry

Vendors of AI technology are designing innovative learning systems to optimise learning processes to create AI-enabled electronic devices. To compete in today's world, educational institutions must have the best learning experience possible. Century Intelligent Learning, for example, created a classroom that uses AI technology to allow teachers to create academic syllabuses online so that students can access them at any time. Additionally, AI technology is used to detect knowledge gaps and recommend subjects to students based on the results of an aptitude exam. AI technology analyses these questions to determine students' strengths and weaknesses. Teachers' experience and expertise levels are improved by AI-enabled technologies and services for the education sector. These tools and resources assist teachers and parents in gaining a better understanding of their student’s success.

Classroom sizes are increasingly growing these days, limiting interactions between students and teachers. For analysing student results, AI technology is useful in analysing a large number of data points. Traditional educational processes are being transformed by AI technology, which is strengthening partnerships between companies and educational institutions. The processes of educational institutions are becoming more sophisticated as a result of this technology.

AI networks are used to build AI tools for institutes and universities. They will develop experience in addressing students' academic requirements and problems using these methods. Students' success and efficiency will increase as a result of this software over time. All of these factors are expected to increase the demand for intelligent business processes, which will provide opportunities for the global AI in the education market to expand.

2021: A year full of opportunities

• The EdTech sector will benefit from AI and machine learning by allowing it to sift through cluttered content. AI will ensure that content is evaluated at several points and that excellent recommendations are made. Students can also use free educational services. This type of framework, which is built into an EdTech platform, fills in the gaps in explanation that may arise in classes, ensuring that all students are creating the same logical base.
• The most well-known EdTech companies are now incorporating AI and machine learning into their operations. Although we at Digital Aristotle were among the first to do so, Byju's, Vedantu, and Kiddopia are also notable names in this regard.
• In the education sector, artificial intelligence and machine learning assisted institutions in adopting cloud technology, which lowered various operating costs.
• It aided in segmenting the entire educational process online and enabled easy access to subjects through various integrated software.
• AI and machine learning technology have proven to be excellent source of education for students with special needs. Many specially-abled students were able to learn the subject through speech recognition and virtual reality technology, which enabled them to easily and perfectly master even the most difficult topics.

Future Applications of Machine Learning and Artificial Intelligence in Education

According to the most recent figures, 16 per cent of U.S. jobs were lost in the last decade due to advances in EdTech, while 13.6 million new jobs were generated to cope with the increasing trend, and every university is being encouraged to teach students Artificial Intelligence and Machine Learning techniques. Artificial intelligence and machine learning have a bright future in this field, with significant growth expected in the coming years.

• According to global reports, by 2023, the education market would have grown by 38 per cent, or USD 2 billion. Almost every country will implement new and improved techniques.
• Content Delivery Systems, Natural Learning Processes, and On-Cloud technology will all experience significant growth by 2023.
• A student's chances of learning and monitoring can improve with the use of AI and machine learning technologies. Students and teachers may use highly interactive methods to examine and evaluate their success in different subjects.

Impact of COVID-19 on the EdTech Industry

In 2020, education spent $227B on digital. Although we expect this to rise to $404 billion by 2025, it is still just 5% of total spending and is seen as conservative by many. Although the long-term effect of COVID-19 on education models has yet to be seen, we expect an increase in spending on digital technology in education over the next few years, as well as greater long-term investment in new digital models. Ed-tech is increasingly expanding its wings and gaining huge worldwide recognition, from smart classrooms to customised coaching applications. Billions of dollars are being invested in EdTech software growth, with the United States, China, and India attracting the most money.

By 2025, advanced technology applications in education and learning would have reached a tipping point, with AR/VR and AI being fully incorporated into core education delivery and learning processes. While virtual and simulated training is already commonplace in adult training and upskilling, we're seeing an increase in their use in formal education settings.

Conclusion: Artificial Intelligence and Machine Learning has a greater scope in the education industry

Artificial intelligence has the potential to increase educational quality to levels that our current standardized-curriculum-and-testing structures have not been able to achieve, as well as to enable teachers to concentrate on higher-value creative and interpersonal activities. However, scaling up adoption will require support from key stakeholders such as students, parents, teachers, administrators, and policymakers, as well as overcoming a structurally fragmented market. It will also be important to invest in technology and new capabilities in the classroom and educational administration.

Above all, data protection concerns must be discussed. The use of artificial intelligence in education poses legitimate questions about how educational data, like other personally identifiable information, is collected and used. What are the dangers of a student's longitudinal performance data, which is intended to help teachers enhance teaching, being public, or of low-performing students being denied educational and employment opportunities? To reap the benefits of AI in education, students and families will need to take on positions as advocates and advisors in the design of AI solutions, teachers and administrators will need to become familiar with AI technologies, and policymakers and regulators will need to build a safe environment.