ASX 200
Team Veye   June 29, 2020

Is education technology ready for disruption?

education technology
Team Veye   June 29, 2020
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The outbreak of COVID-19 pandemic affected economies worldwide. Almost all the sectors faced this onslaught, though in different proportions. Sectors like tourism and aviation were severely disturbed. 

The pandemic had another undesired side effect. Educational institutions closed in almost 107 countries with more than 860 million students getting affected.

The education sector is considered to be a vital resource to the Australian economy and has been attracting international students from far and wide.

With the advent of newer technologies, rules of the game are getting changed. Effective learning is now not only restricted to the class rooms. Also, it is no longer simply the online availability of traditional textbooks or the use of tablets in schools.

Advanced technologies such as artificial intelligence, machine learning and also deep learning are now being fully used. These have been tailored to make full use according to an individual’s needs. Many companies have started delivering innovative, technology-based solutions for the education sector. Cloud-based software platforms customised to the client’s needs are now readily available.

As it is, we are already recognised as one of the most mobile-savvy and cloud-savvy countries in the world, with a highly skilled and culturally diverse population. Rapidly changing developments in this sector could create a whole lot of opportunities.

Expenditure on technology in education is expected to grow multifold in the near future. There is now a need to build on our abilities to capitalise on these significant opportunities that come our way and also to remain competitive in this constantly evolving sector.

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