The author suggests that educational institutions and EdTech companies should prepare for the future by using AI to teach employees new skills, creating content with AI's help, adding an AI-based element to their product or service, and addressing user privacy concerns. The author believes that AI will not disrupt the job market but reshape it, and those who lose their jobs will be able to find new ones with proper reskilling.
Key takeaways:
- The AI in education market is projected to grow significantly, reaching $23.82 billion by 2030, with a compound annual growth rate of 38%.
- AI is being used in various educational applications such as smart content, learning platforms, intelligent tutoring systems, and fraud and risk management.
- Examples of AI in education include Carnegie Learning's adaptive solutions for K-12 schools and colleges, and Duolingo's chatbots for language learning.
- Companies should prepare for the future by using AI to teach employees new skills, creating content with AI's help, adding an AI-based element to their product or service, and addressing the privacy concerns of their users.