EdTech

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EdTech, a portmanteau of the phrase “education technology," is the combination of IT tools and educational practices aimed at facilitating and enhancing learning.

This influx of EdTech tools are changing classrooms in a variety of ways: EdTech robots are making it easy for students to stay engaged through fun forms of learning; IoT devices are being hailed for their ability to create digital classrooms for students and machine learning and blockchain tools are assisting teachers with grading tests and holding students accountable for homework. Consequently, investments in EdTech have been growing and startups in Europe have been expanding globally during the pandemic, as the demand for high-quality online schooling is skyrocketing. Global EdTech investments alone reached $19.4 billion in 2019.

As an industry, AI is a crucial mechanism shaping the future of education (particularly to the LSE given that it is an educational institution). This importance has been exacerbated by the pandemic, which highlighted the necessity and scale of EdTech. The industry size in 2019 was $163bn. The current CAGR of Edtech is 16.3%, and so the industry size is expected to be $404bn in 2025, a rapid rate of growth. The ways that we learn in the future and how we interact with classmates and teachers will be shaped by Edtech, and as such it is crucial we understand it.

Many societies at LSE exist to provide an understanding to students of key trends/forces shaping our future and to provide a platform to discuss such forces. Education is key to the development of society. EdTech is a key force shaping the future of education: 92% of teachers believe tech is going to have a major impact on the way they educate in the near future. No society committed to the future of education exists at the university.