Special Episode: 2023 Reflections and 2024 Predictions by Alex, Ben and Edtech Leaders from Instructure, Owl Ventures, Reach Capital, Age of Learning, Kinnu, Flint and Samvid Ventures
Jan 1, 2024
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Edtech Insiders presents a special episode where Ben and Alex reflect on 2023 and make predictions for 2024 in the Edtech industry. They are joined by Ian Chiu, Jomayra Herrera, Sunil Gunderia, Hanna Celina, and Amit Patel. Topics discussed include trends from 2023, predictions for 2024, the changing value of degrees, the rise of AI in ed tech startups, AI in education, and the future of EdTech.
Increased demand for mental health resources in K-12 schools, with online therapy sessions becoming more common.
Funding market for EdTech will remain challenging, with a focus on cash management and profitability of AI-based products.
Increase in consolidation and acquisitions in the EdTech market as larger companies integrate AI solutions.
Latin America to experience continued growth in the EdTech market, with potential for a new unicorn company to emerge from Mexico or Brazil.
Deep dives
Increased focus on mental health resources in K-12 schools
There will be significant demand for mental health resources, particularly in K-12 schools. The impact of COVID-19 on students and educators has created a need for increased support, and online therapy sessions are becoming more common.
Continued funding challenges for EdTech companies
The funding market for EdTech companies will remain challenging, with a focus on cash management and supporting existing portfolios. Investors may be more cautious and selective in their investments, prioritizing profitability and scrutinizing the value brought by AI-based products.
Consolidation and acquisitions in the EdTech market
There will be an increase in consolidation and acquisitions in the EdTech market, as larger companies look to integrate AI solutions into their platforms. Smaller AI-focused companies may be acquired or aqua-hired by established players to enhance their offerings.
Growth of EdTech in Latin America
Latin America will see continued growth in the EdTech market, with the potential for a new unicorn company to emerge from Mexico or Brazil. Latin American countries will focus on addressing real pain points and leveraging AI to provide valuable solutions to learners.
EdTech Insiders Predictions for Education
The podcast episode discusses the predictions and reflections on the state of education and EdTech. Some key points discussed are the increasing importance of AI tools in personalized learning, the focus on professional development and employment pathways due to the teacher shortage, and the embedding of AI in curriculum and tools. The episode also touches on the potential controversies surrounding AI use, the need for coherence and consolidation of EdTech products in schools and districts, and the political dynamics in higher education. There is a recognition of the slow response and lack of meaningful change in higher education institutions, as well as the potential for shifts in employer-sponsored education and workforce training.
The Maturity of Workforce Learning and Shifts in the Field
The podcast explores the evolving landscape of workforce learning with a focus on the need for upskilling and creating a nimble workforce. It highlights the shift from education as an employee benefit to a more targeted approach of upskilling within companies. The discussion mentions the challenges faced by workforce learning companies and the maturing of the field, with a focus on delivering specific training and pathways tailored to individual companies. Language learning is also mentioned as a potential area of growth. Overall, there is a recognition that workforce learning is not experiencing a widespread boom, but rather a more nuanced and targeted approach.
Future Trends: AI Integration and Impact Measurement
The podcast episode predicts future trends in education and EdTech, emphasizing the continued integration of AI across various aspects of the education system. The narrative surrounding AI is expected to become more pointed and focused. Additionally, the importance of demonstrating efficacy, impact, and results in EdTech products and companies is highlighted as a premium requirement. The episode concludes by encouraging the pursuit of meaningful impact and wishing the audience good luck for 2024.
