EdTech and Education: From 2021 to 2022.
In 2021, education globally has been partially closed, part open, and in most places reeling and trying to reconcile 2020.
Learning Acceleration
I was pleased to see that the general sentiment of lost learning and remediation in K-12 evolved to a mindset of learning acceleration by adapting to the next year(s) learning progression. I like this article by Carnegie Learning.
SEL, Wellbeing and Mental Health
There has been a universal move toward implementing social-emotional learning, well-being, and mental health programs. This was a necessity prior to the pandemic. The urgency increased funding for program adoption. I recommend following Professor Lea Waters and her work with Discovery College in Hong Kong. I like Skodel for its evidence-based approach and programs by Move This World.
Zero Barrier Educational Products
2021 has been the year of “zero barrier products.” Educators grew confident with the basics of teaching virtually and offline. Many sought enhancements through technology-driven realizations of pre-existing practice or content. These solutions must require zero new knowledge or skill development for educators and include products such as Quizlet (Flashcards), Kahoot (Gamified class quizzes), and Khan Academy (Core curriculum content). All have enjoyed huge success and growth.
The Absence of Innovation
2021 has not been innovative in K-12 education. Teaching in schools has focused on traditional examined subjects. Schools have had restricted time, and educators have been burnt out and reluctant to teach outside comfort zones. Future skills have been approached through informal learning. Despite edtech being on the agenda, I believe the future preparedness of students will be shown to have declined during 2021.
Tuition Platforms
Tuition platforms such as Outschool have grown, but can it continue and quality remains as pandemic conditions shift? The public listing of Udemy and Coursera were landmark events. Both are arguably the most influential current decentralized and adult upskilling market positions. This investment analysis cites some considerations that both companies face going into 2022. It would not be 2021 without mentioning Byju’s. It will be interesting to see how their rapidly re-branded “Future School” performs with an urgent need of reputational rebirth and quality assurance.
Investment and Systemic Opportunity
In the first half of 2021, VC investment in education grew globally from US$4.5 billion to US$ 10 billion. This is less than 20% of fintech and only 3% of US$288billion invested across all industries during the same period.
Studying Holon IQ’s Global Edtech 1000, the majority of companies cited as most promising are focused on a “Direct to Consumer” model. Venture money in Education follows consumer models, not institutional or B2B.
The biggest challenges in education are institutional and deeply systemic such as how core learning is defined, how student learning is assessed and credentialed, and the evolving face and place of higher education. I would go so far as to say that Education needs its paradigm to be shattered, not shifted. In 2021 I have seen growth in social impact funding such as MIT Solve and the Octava Social Innovation Challenge, the work of the Yidan Prize Foundation, the Education Innovation Ventures arm of ECMC Foundation, and the work of the Lumina Foundation. There appears to be an acceleration of the work of patient capital towards the more significant issues in education.
Byju’s has gained huge success and has created a lab to focus on innovation. This marks a cycle of venture capital-backed edtech reinvesting growth back into potentially systemic objectives. Venture Capital might impact education meaningfully and develop credible double bottom line mandates for their funds with terms built into growth rounds.
Looking forward into 2022
K12 Teacher Training
This is my top trend for 2022. Greater capacity created by a revolution in teacher training is needed. I anticipate training to focus on future skill sets to be practiced in directly related lessons or integrated to enhance and make traditional subjects more relevant. Delivery must focus on practical skills accompanied by immediately usable resources for offline or virtual classrooms.
Credentialing and Assessment
These will continue to be themed for years and are critical to improving equity. Credential As You Go and The Open Skills Network is closing the gap between business and Industry. A matter to consider is the mismatch between how skills, competencies, and capabilities are described and understood between education and the world of work. A bridge in understanding will make big steps in connecting learning to opportunity.
Blockchain and cryptocurrency are entering the consciousness in this arena. I expect to hear more about “learn and earn” in 2022.
Artificial intelligence
AI is an aspirational trend in education. Many algorithms remain untested and need longitudinal results to be proven effective. Bias is a concern, and privacy will restrict unconstrained applications. In my opinion, it remains early days for AI in education and something that will build nearer to 2024-2025.
Metaverse
Extremely early for Metaverse based learning environments. The simple computer power and connectivity required to run current environments put any real development in this area beyond the coming year.
