Education Technology Services
Educational technology in the corporate world
Growth of a company is heavily influenced by how much it invests in employee education and training. The way employees and staff receive education has transformed as time and technology have evolved. Today, the most widely used corporate skill-building method is digital learning. Thanks to the proliferation of application technologies and tools spanning from software to hardware, a new branch combining education and technology, called edutech, has developed and is now predominantly used to facilitate learning.
Edutech tools aid businesses in enhancing the hard and soft skills of their staff. They offer businesses a cost-effective and time-efficient alternative to upskill their employees. The edutech market is expanding and is currently valued at $254 billion, out of which the corporate edutech sector is worth $22.5 billion. Moreover, the size of the corporate edutech market could increase by more than twice in the next five years.
The rise of SaaS edutech in the post-pandemic era
The COVID-19 pandemic has caused major developments in the education industry, including an increase in the number of software-as-a-service (SaaS) edutech companies. This sector is on its way to revolutionising education since there is a ton of unrealised potential and a pressing need for digitisation of the sector because of shifting market dynamics. In the business world, upskilling is a major priority. Helping employees develop the skills they need, however, becomes more challenging when businesses transition to entirely remote or hybrid workplaces.
After the pandemic, 58% of businesses feel that bridging the skills gap among their employees is even more important, while 69% say they have increased their skill development efforts. The most efficient channel for skill development, according to 75% of businesses, is digital learning. Thanks to technological advancements and the rise of SaaS edutech companies, corporate training continued unabated even during the pandemic, with technology enabling the remote workplace. Similarly, now technology is enhancing training opportunities for personnel.
SaaS educational technology in business
To survive, businesses must adapt. Employee training is one of the simplest and most economical methods to achieve this goal. The corporate sector has started a global transformation by embracing and integrating digital technology and new-age learning. The capacity to reach more employees faster while improving their learning experience is undoubtedly a great feat of technology in education and learning. Edutech platforms and tools make it possible to track employee progress in real time, evaluate abilities remotely, and support a variety of learning styles pertaining to specific industries.
What lies ahead?
As AI becomes more prevalent in the education and business sectors, edutech companies will turn to AI-powered solutions for employee education and training. Edutech solutions are rapidly utilising AI to boost learning effectiveness and personalisation, as well as to provide automation that lessens the workload on trainers. Corporate learning and development technologies will utilise AI and machine learning in the near future to:
- Design and enhance training material to make it more suited to the requirements of each individual.
- Personalise each person's learning process based on learning speeds and grasping abilities.
- Monitor and provide predictive insights on employee behaviour, performance, and aptitude.
Additionally, companies are beginning to adopt new interactive video platforms and social learning tools. These resources combine all the advantages of video learning with discourse, interaction, and self-engagement. These platforms allow individuals to actively engage in learning, discussions, and conversations and leave comments about training material at every step.
For organisations on the digital transformation journey, agility is key in responding to a rapidly changing technology and business landscape. Now more than ever, it is crucial to deliver and exceed organisational expectations with a robust digital mindset backed by innovation. Enabling businesses to sense, learn, respond, and evolve like living organisms will be imperative for business excellence. A comprehensive yet modular suite of services is doing precisely that. Equipping organisations with intuitive decision-making automatically at scale, actionable insights based on real-time solutions, anytime/anywhere experience, and in-depth data visibility across functions leading to hyper-productivity, Live Enterprise is building connected organisations that are innovating collaboratively for the future.
How can Infosys BPM help?
Our edutech assessment and training solutions include AI-powered tools that redefine your organisation's training and employee upskilling process.