Highlighting 4 Innovative Business In Education Technology By Forbes

Education technology as an industry is on a path of rapid growth. Especially after the pandemic, heavy research and development is going on to find innovative ways to cater to different education needs, online and offline. Forbes published an article on August 23, 2023, titled “4 Innovative Business Opportunities in Education Technology,” highlighting the scope for business in innovative edtech solutions. Here are the 4 business opportunities mentioned by the writer in the Forbes article.

  • 1. Personalized Learning Platforms
  • 2. AI-Powered Tutoring Platforms
  • 3. Skill-based Learning Apps
  • 4. Collaborative Learning Platforms

Personalized Learning Platforms

The current education system is more aware that students in a class are all different from each other. The caliber of a fish and an elephant cannot be judged by how well they can climb trees. Therefore, the need for personalized learning platforms is more relevant than ever. Such platforms can have personalized curricula based on individual assessment. The content can be adaptive, and the instructions can be given based on unique learning techniques. Each student can learn at her own pace and can be continually assessed. Such platforms can be inclusive of students with different needs.

AI-Powered Tutoring Platforms

An educational platform that is also capable of giving you real-time feedback and answering the students’ doubts instantly will act as a personal tutor. AI-powered platforms will have customized educational material to suit every student’s needs. A student’s learning pattern and performance can be measured and analyzed using detailed data. Step-by-step guidance to find answers and solutions can be given to students. Such an edtech app would be the affordable and personalized option.

Skill-Based Learning Apps

Education technology is relevant for school and college students and people seeking coaching in a particular skill. Skill-based learning apps provide nano/macro courses in skills like coding, digital marketing, robotics, finance, art forms, etc. An innovative business idea can look for a niche in demand yet unexplored. Virtual reality can be very useful in teaching hands-on skills from science experiments to cooking to students through such apps.

Collaborative Learning Platforms

Collaborative working platforms like Google Workspace and Microsoft Teams for virtual meetings and many more such apps support employees worldwide to work together. Similar collaborative learning platforms can be a space for learning together and from each other, interacting with students everywhere, and learning from experts. These platforms can be discussion platforms and encourage critical thinking. For example, Peergrade supports peer review, Basecamp helps in project management, and GitHub is used in collaborative coding. Apps combining two or more of such features would have an additional advantage.

Conclusion

The Forbes article gave examples of 4 innovative business ideas in the education technology industry. This industry is on a path where many unexplored avenues of education are available. According to the writer, personalized, AI-powered, skill-based, and collaborative educational apps have a good scope in this field.  Among the various platforms mentioned here, providing personalized tutoring could soon be the most profitable business area.

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