These changes have led to new conversations and the creation of innovative, non-traditional learning models of higher education from providers that include Udacity, Andela, Minerva, Code School, SNHU, and Georgia Tech-AT&T.
Millennials will learn and earn differently from us – the conventional classroom will become less relevant and their world will be an agglomeration of capabilities and attitudes across geographic boundaries. Personalization and ‘individual’ relevance will be their mantra. They will gather their skills and credentials over a lifetime of learning.
Technology will underpin the success of these models, allowing for elements such as personalization, virtualization, and flexibility to be introduced into the learning process. Technology will be an important ingredient in moving away from one-size- fits-all education system.
However, the path to a new education system will not be straightforward. Education has proven highly resistant to change across the centuries. Those who ignore the importance of human intervention in the learning process will do so at their peril.
This panel will discuss the path higher education is most likely to follow to be ready for the millennial generation and beyond. It will debate the rewards and risks of foreseeing radical change and responding to it at private and public institutions across the globe.
Fundraising is a critical task for every startup founder, a trial by fire that is at once exciting and exasperating. A better understanding of the process, however, can enable founders to avoid Sisyphean frustration and ensure a successful outcome. In this session, we’ll navigate the fundraising maze together, answering key questions such as:
In this session, we’ll take an investor’s perspective and outline the range of advantages associated with education platforms, from greater scale to higher brand awareness. After we’ve established the “why” we’ll dive into the “how” covering the nuts and bolts of building a multinational education platform of pre-K and K-12 schools across Southeast Asia. Topics for examination include:
The demand for new skills is accelerating rapidly due to changes in the job market new opportunities for work-life balance, and greater transactional expectations of millennials. This sequence of events has a strong impact on the expected return on investment (ROI) from education and skilling systems.
For students the “I” in ROI is falling as shifting education models reflect their desire to pay less and spend just enough time to learn the right skill sets. At the same time, the desired “R” is holding steady, implying that skills education must leverage technology, automation, and new business models such as peer-to-peer learning to meet expectations.
The skill evolution cycle is a term that defines the pace at which new jobs are emerging and old ones are becoming obsolete due to obsolescence or automation.
Millennials will learn and earn differently from other generations because their world is an agglomeration of capabilities and attitudes virtually, across geographic boundaries. Thus skilling and education will move from geographical to virtual agglomeration.
Formal institutions for education delivery such as schools and colleges will dis-aggregate along functional, focus, and geographic boundaries and will collaborate with each other across these boundaries. This will result in an education and skilling system that, leverage technology and mimics the learning and earning patterns of virtually connected millennials.
Artificial intelligence is the branch of computer science concerned with the theory and development of computer systems able to perform tasks that typically require human intelligence.
Tremendous progress has been made in AI over the past several years, making the leap from science fiction to everyday reality. Today, Siri is our personal assistant. Facebook uses facial recognition to tag our photos. Google Maps helps us navigate. And Elon Musk’s Neuralink may soon connect our brains to the cloud. In short, practically every field has benefited from advances in artificial intelligence. This includes education, where a number of hardware, software and online services have managed to bring changes to classrooms and teaching methods. Still, AI has not benefited education to the same degree as other disciplines and true disruption has yet to arrive.
Over the last decade, applications of artificial intelligence have addressed several challenges of learning, including language processing, reasoning, planning, and cognitive modeling.
Progress in artificial intelligence and machine learning has been impressive, but there is still much work to be done to advance learning science. While some progress is being made to bring artificial intelligence to the education space these efforts pale in comparison to advancements elsewhere.
Creating long-lasting generational impact in societies with the objective of transforming the socioeconomic potential of all future generations can be achieved by a few levers such as health, finance and education. Developing societies have seen the evolution of several creative, sustainable finance and fintech impact models, and a few self-sustaining health impact models at the bottom of the pyramid.
The impact of education is relatively slow, and harder to measure through well-defined and known metrics such as increase in family income, increase in investments or disposable income, etc. However, including more students into the fold of primary education; ensuring that girls stay in school longer; ensuring higher high school completion rates for children are some of the easily measurable metrics. Other finer metrics are region and local culture dependent.
Some market leading organizations are using commercial equity investments, debt instruments, grants and even investment bonds to create measurable impact in this space. Independent organizations that specialize in outcome measurements are also looking at extending their expertise through consulting work. Given this fast-evolving landscape, we are seeing an emergence of education as an important impact asset class.
The purpose of this panel is to identify the opportunities and the challenges and forewarn that the usual metrics of impact may not be applicable but the usual lessons of creating impact may transfer over.
Education is not a one-size-fits-all endeavor. Students come to class with their own learning fingerprint that represents their individual capabilities and needs. As such, educators need affordable, scalable, and personalized tools and methodologies that recognize the relative skillsets of their students while providing pathways for improvement.
Unique learners, a group that includes students facing challenges such as learning disabilities, language barriers, or the lack of a gifted program, must be part of the movement toward personalized education. Fortunately, rising awareness and acceptance of unique learners has led to an upward trend in the number of children receiving support. In the Philippines, for example, students with learning disabilities increasingly have access to individual education plans. But there is a long way to go, as many parents continue to disregard the advice of professionals and extract children from school if therapy is recommended.
For learning-disabled students to thrive and potentially become independent they must be empowered to build upon their skills and passions. Over the next decade, there will need to be a greater number of specialized schools that embrace inclusive, personalized, and holistic learning. These schools will need to offer quality education despite growing class sizes and the continued burden of rising costs.
As schools in Southeast Asia tackle the larger question of how to provide the best educational experience to unique learners, multiple related issues will need to be solved:
In China, one of the first education sectors to take off was after-school tutoring, typically provided as a supplement to government-run institutions. Some of these tutoring companies have grown quite large and include publicly traded firms such as TAL Education Group, which saw $620 million revenue in 2015 from over 300 tutoring centers.
After-school tutoring is only the tip of the iceberg, however. The Chinese education market has grown considerably, expanding across verticals and borders to include private kindergartens, schools, study abroad, English language, online education and education technology. According to Deloitte, the Chinese education market is expected to grow from 1.6 trillion yuan ($236B) in 2015 to 2.9 trillion yuan ($429B) by 2020.
TAL, New Oriental, and other Chinese companies have all made forays into these fast-growing education sectors. These firms have also targeted markets in the U.S. and U.K. for strategic acquisitions, focusing largely on the transnational or ed-tech space. International investments are viewed as a means to expand the market and to access the most up-to-date learning methodologies, tools, and brands.
Many of China’s initial international education investments have been in the U.S. and U.K. However, these markets are crowded, and some of these companies may not be successful. What will China’s next investment destination be?
An influx of Chinese capital into Southeast Asia will not make the local education sector successful automatically. Entrepreneurs will need to avoid the pitfalls, and learn the best practices of their predecessors across the globe.