Enabling Educators To Make A Positive Impact On the Life Of Learners Using Digital Content
Market disruptions in the education sector brought on by the pandemic and in the form of disruptive technologies by leading EdTech companies has put an increased emphasis on personalized, anytime, anywhere digital learning. The future lies in the innovative use of smart technologies to enable educators to provide an enhanced learning experience, vastly improve student outcomes, and make education more inclusive and affordable. TCS is in a unique position to lead the education transformation at institutions of learning by leveraging physical assets and digital technologies. This includes end-to-end solutions to streamline a wide gamut of functions—from creating new business models such as a digital university, to academic advising, campus management, digital content creation, and co-branded courses with our industry partners—designed to increase a learner’s employability in the world at large.
For some time now, educational institutions have been facing challenges in enrolment and funding, both of which were further hit on account of COVID-19. According to reports, a significant drop in student enrolments is expected in the short term. This trend has been visible for some time. As higher education has continually become more expensive and unattainable, students have found online courses to be an easier way to secure degrees and, consequently, jobs quickly.
Education challenges at a glance
- Drop in year-on-year enrollments
- The pandemic effect: Up to a 15% drop in student enrollments
- A major drop in international student enrollments
- Sharp shift to online learning
- Government funding to institutes expected to shrink
Along with reduced revenue from tuition, institutions also fear a decline in government investment in education. According to a Citi Research report of 2020, 60% of the institutions anticipate reduction in government funding — a fallout of the pandemic and also a trend that threatens to adversely impact institutional profitability and viability in the coming years. The industry may even go through a shakeup, with increased chances of mergers and acquisitions in the education sector. Also, it is expected that universities along with industries are expected to jointly launch academic programs to attract more learners and achieve positive outcomes.
Therefore, institutions face the dual goal of lowering the cost of education and expanding the reach of learning. To meet these goals, education must thrive in a space that belongs to neither regions nor states, but to the world, and in a form that is neither just in physical classrooms nor on digital learning channels, but “phygital”. Indeed, studies predict that 40-50% of learning hours will be digitized in the next three years and education technology spend could reach $357 billion by 2024, recording a 17% CAGR over six years.
- Pressure on educational institutions over financial viability
- Diminishing value of the in-person educational degree
- Possible rise in mergers and acquisitions in the education industry
- Traditional boundaries in education being challenged
- A need to lower the cost of education and increase its reach