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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.