How does Artificial Intelligence (AI) impact traditional educational practices?
The rapid rise of digitalization and technological innovation is transforming almost every industry domain, including healthcare, banking, & finance. Regarding the revolutionary impact of AI integration upon industrial growth, education is no exception. The rapid incorporation of state-of-the-art technologies like artificial intelligence into education is changing how we learn and teach. AI for education is being used by educational platforms worldwide to create highly collaborative and interactive learning environments for students. AI has many key benefits for education, including personalized learning, digital lessons that are highly immersive, 24/7 access, instant feedback, and improved engagement for students with disabilities.
Unprecedented Growth in Global Artificial Intelligence Market for Education Sector Market during COVID-19
Emergen Research estimates that the global market for artificial intelligence in the education sector accounted for USD 1.55 billion in 2020. It is projected to grow to USD 25.63 billion by 2028. This will result in a strong revenue CAGR of 43.8% over the forecast period. The global market is seeing a rise in online education during the COVID-19 pandemic. Emergen Research also reports that there are AI-based education technology (edtech) platforms worldwide, and the rapid adoption of AI tools by tutors allows for better knowledge delivery, performance assessment and streamlining of administrative tasks. The market’s growth is further supported by the growing need for real-time student progress monitoring, increased demand for personalized learning modules, improved Internet connectivity, particularly in developing countries like India, and rising awareness of intelligent tutoring systems.
Top 10 EdTech Companies Using Artificial Intelligence to Enhance the Learning Experience
- Nuance – Revenue
Nuance, a multinational technology company, is based in Massachusetts, U.S.A. It offers artificial intelligence solutions to the healthcare, financial and education sectors. The company is a global leader in conversational artificial intelligence and has been recognized in the edtech sector for its advanced speech recognition software. Nuance’s Dragon Speech Recognition software transcribes over 160 words per minute, making it a valuable tool for teachers and students. It provides effective lesson plans, detailed feedback, progress assessments, and feedback.
Institutions have the unique opportunity to be equipped with the most current systems, curricula, and certifications by capitalizing on the Edvantic’s Ai, data science, and blockchain initiatives. Participating institutions have the best chance to quickly adopt and use the latest curricula in the rapidly evolving technology fields. Edvantic is officially associated with the prestigious World Data Science Initiative. Edvantic is an exclusive worldwide partner of the Data Science Council of America, Artificial Intelligence Board of America, and Central Blockchain Council of America, the most respected organizations for cross-platform, vendor-neutral knowledge standards in data science and artificial intelligence.
- Squirrel AI
SquirrelAI is an online education company that’s based in China. The company is the first Chinese AI-powered adaptive-learning solutions provider and offers high-quality, personal K-12 tutoring at extremely affordable prices. Squirrel AI offers advanced learning using advanced algorithms and real-time adaptive technology. It has over 1,700 schools located in more than 200 cities throughout the country.
Cognii Inc. has been a leader in the edtech sector and offers top-of-the-line artificial intelligence-based solutions for education and professional training. The company has partnered with many K-12 and corporate training organizations to provide cost-effective and superior learning solutions. The company’s award-winning edtech product Cognii Virtual Learning Assistant is an educational assistant that offers personalized learning, intelligent tutoring and open responses.
- Carnegie Learning
Carnegie Learning, Inc. is located in Pittsburgh, Pennsylvania. It provides K-12 education solutions for applied sciences, mathematics, literacy, and ELA. MATHia(r), integrated with LiveLab, was named the “Best Artificial Intelligence/Machine Learning Application” by Tech Edvocate Awards in 2019. MATHia uses cognitive science and artificial intelligence to provide smart math learning solutions for middle and high school students. It also provides 1-to-1 feedback.
Blippar, a London-based tech unicorn, is headquartered in London. The company specializes in Augmented Reality (AR-based content creation and publishing on the web and mobile phones. The company’s flagship products are WebAR, an in-house content creation platform WebAR and Blippbuilder, a proprietary content publishing platform. Blippar is well-known for creating exclusive AR campaigns for partners such as Jaguar Land Rover and Porsche, Cadbury, PepsiCo L’Oreal, GSK and Procter & Gamble.
- Century Tech
Century Tech, an AI-based learning and teaching platform, is an award-winning platform. It is based in England. It combines AI with neuroscience to provide the best learning opportunities in English, science, math and science for primary, secondary and FE schools and colleges. Century Tech’s team includes master teachers, technologists and neuroscientists who provide personalized, intelligent learning modules for students to enhance their understanding and engagement.
Querium Corporation was established in 2013. It is a global leader in edtech companies for its online assessment platform that uses artificial intelligence to assess science, mathematics and engineering. Its user-friendly interface, patent-pending expert systems, and advanced simulation technology are distinguished. The platform’s personalized lessons are bite-sized through step-by-step tutoring assistance and help students master key STEM skills. Querium’s StepWise Virtual Tutor is available to students around the clock and mimics a master tutor.
HowNow, based in London, U.K., is an all-in-one learning platform offering AI-based edtech services for top corporate companies worldwide. It helps them to accelerate onboarding and upskill their employees. The company specializes in business training, employee training, upskilling and workshops, and corporate/professional training. This platform uses real-time analytics and data to improve the capabilities of employees as well as identify skills gaps.
Kidsense.ai is an innovative platform for embedded automatic speech recognition technology (ASR) and Edge-AI. It was developed by the American edtech firm Kadho. Kidsense.ai, a California-based company, offers top-of-the-line educational AI tools that can also be used for implementing AI in schools. These include the speech-to-text tool. This tool is specifically designed for children and helps them take notes faster and improve their vocabulary. ROYBI purchased KidSense.ai in February 2020 for an undisclosed amount.