However, despite the surge in AI-related edtech funding, overall investment in the edtech sector has declined by over 60% in the first seven months of this year compared to the same period in 2022. The article suggests that the potential of AI to deliver personalized learning at scale and provide useful tools for teachers could help turn the sector's fortunes around, but it will take a few years to see how these visions translate into reality.
Key takeaways:
- Edtech startups focused on AI are receiving significant venture capital, with companies at the intersection of AI and edtech pulling in hundreds of millions over the past couple of years.
- Startups like Ello and Elsa are leveraging AI to offer personalized learning experiences, such as helping children learn to read and improving English pronunciation.
- Other startups, like MagicSchool AI and Teachy, are developing tools to automate time-consuming tasks for teachers, such as lesson planning and plagiarism detection.
- Despite the surge in AI-related edtech funding, overall venture investment in the edtech sector has been down more than 60% in the first seven months of this year compared to the same period in 2022.