E-learning Sector Is Expected To Reach $1.29 Billion By 2018: Rohit Manglik, CEO, EduGorilla
Rohit Manglik, CEO of EduGorilla, and ed-tech start-up, talks to BW Businessworld about re-skilling, e-learning and AI transforming the education system. Edited Excerpts:
To stay relevant in the internet age, there is an increased focus on continuous re-skilling. What are your views on this?
Continuous re-skilling enhances one’s employability, especially in this technology- driven world of internet. There is always a need of re-skilling the teacher as well as the student. According to a study, around 90 percent of employment opportunities require vocational skills whereas only 20 percent of the graduates get a job. Others are unable to get a job of their choice mainly due to the lack of the employable skills. However, one of our aims is to provide a platform for industry experts in their relevant fields to share new and valuable information to students and professionals alike. Through our guest posts and trends section,we help students to re-skill in different aspects. Even for us, re-skilling is an important factor to ensure innovation in day-to-day work.
How e-learning is getting its sheen back?
In 2015, India emerged as the second largest market for e-learning after the United States. The sector is expected to reach $1.29 billion by 2018, growing at CAGR of 17 percent. The rapid increase in internet connectivity has provided a fillip to e-learning. With the number of netizens in India expected to reach 250 million, rivaling the United States and China, India holds immense potential in e-learning. The leveraging of technology in the education domain has also made e-learning a reality. Moreover, a spate of government initiatives like Digital India has acted as a catalyst. A recent McKinsey report points out that Digital India would lead to is 20-30 percent increase in GDP by the next 10 years. With a robust infrastructure, e-learning will play a vital role in shaping the skills and education needs of the country.
How govt. push for digital learning will further accentuate the growth of e-learning in India?
The ‘Digital India’ initiative by the government is a very positive step. It will provide the roadmap for improving the digital infrastructure of the country. Not only schools, corporate are increasingly veering towards e-learning programmes. Online nano degrees are preferred by corporate professionals who are looking to re-skill themselves without taking time off from their careers. Despite being a home to over half the population under 25 years of age, India is expected to face a shortage of 250 million skilled workers by 2022. E-learning can play an important role enhancing the employability of youth. In instances where traditional education is not possible due to financial or personal constraints, e-learning comes to the rescue. It is a boon for differently- abled who may find it difficult to pursue classroom education. E-learning also ensures a unique personalized experience to all students. In a conventional education model, this is only possible when a highly skilled tutor offers one-to-one tutorials.
What are the new developments taking place in the industry?
The ed-tech industry is focusing on the development of technology and finding out innovative ways to achieve the goals of the education industry and to make a mark in the global market as well. One of the dominant trends is e-learning which is here to stay. Schools are increasingly leveraging technology in every sphere, be it to augment security, to improve learning outcomes or make classroom teaching an interactive experience. The recent era has also witnessed the proliferation of start-ups which are leveraging advanced technology like Artificial Intelligence and Internet of Things which have revolutionized the education sector. Meanwhile, the evolution of technologies such as cloud, big data and the Internet of Things are changing the way e-learning content is being produced and consumed.
How AI is being used in the system?
According to Tracxn, a start-up tracker, there are around 300 start-ups in India which are using some form of AI.About 11% of them (including EduGorilla) are using it in education. It is not only aimed at improving the performance of students but also improves the teachers’ knowledge-horizon, which further leads to the best possible student counseling. Such teacher-student-computer collaborative approach, where the feedback is quick, can be very effective. Even the remotest of the students can learn and improve their results. We implement AI to find the latest educational trends across the world and compile it subject-wise for students of all categories or ages on our ‘trends’ page.
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