Is education technology ready for disruption?

Team Veye | 29-Jun-2020 education technology

The outbreak of COVID-19 pandemic affected economies worldwide. Almost all the sectors faced this onslaught, though in different proportions. Sectors like tourism and aviation were severely disturbed. 

The pandemic had another undesired side effect. Educational institutions closed in almost 107 countries with more than 860 million students getting affected.

The education sector is considered to be a vital resource to the Australian economy and has been attracting international students from far and wide.

With the advent of newer technologies, rules of the game are getting changed. Effective learning is now not only restricted to the class rooms. Also, it is no longer simply the online availability of traditional textbooks or the use of tablets in schools.

Advanced technologies such as artificial intelligence, machine learning and also deep learning are now being fully used. These have been tailored to make full use according to an individual’s needs. Many companies have started delivering innovative, technology-based solutions for the education sector. Cloud-based software platforms customised to the client’s needs are now readily available.

As it is, we are already recognised as one of the most mobile-savvy and cloud-savvy countries in the world, with a highly skilled and culturally diverse population. Rapidly changing developments in this sector could create a whole lot of opportunities.

Expenditure on technology in education is expected to grow multifold in the near future. There is now a need to build on our abilities to capitalise on these significant opportunities that come our way and also to remain competitive in this constantly evolving sector.

Disclaimer

Veye Pty Ltd(ABN 58 623 120 865), holds (AFSL No. 523157 ). All information provided by Veye Pty Ltd through its website, reports, and newsletters is general financial product advice only and should not be considered a personal recommendation to buy or sell any asset or security. Before acting on the advice, you should consider whether it’s appropriate to you, in light of your objectives, financial situation, or needs. You should look at the Product Disclosure Statement or other offer document associated with the security or product before making a decision on acquiring the security or product. You can refer to our Terms & Conditions and Financial Services Guide for more information. Any recommendation contained herein may not be suitable for all investors as it does not take into account your personal financial needs or investment objectives. Although Veye takes the utmost care to ensure accuracy of the content and that the information is gathered and processed from reliable resources, we strongly recommend that you seek professional advice from your financial advisor or stockbroker before making any investment decision based on any of our recommendations. All the information we share represents our views on the date of publishing as stocks are subject to real time changes and therefore may change without notice. Please remember that investments can go up and down and past performance is not necessarily indicative of future returns. We request our readers not to interpret our reports as direct recommendations. To the extent permitted by law, Veye Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss, or data corruption) (as mentioned on the website www.veye.com.au), and confirms that the employees and/or associates of Veye Pty Ltd do not hold positions in any of the financial products covered on the website on the date of publishing this report. Veye Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services.

veye logo

Grab Your Free Report On 5 ASX Dividend Stocks To Buy In 2024

(+61)