Explosion of AI-integrated educational technology products

DNVN - The Vietnam Education Technology White Book 2024 points out that in 2024, there will be an explosion of B2C education technology products with integrated AI to enhance the experience and support personalization of learners, especially products in the foreign language learning segment.

750 EdTech businesses operating in Vietnam

Information was given at the Vietnam Education Technology Exhibition (Edtech Expo) announcing the White Book and the Vietnam EdTech 2024 rankings on August 10 in Hanoi, Ms. Ngo Ngoc Yen - Director of Operations of EdTech Agency said that in the context of the increasingly growing and diverse education technology (EdTech) market, choosing the right solution is becoming increasingly difficult.

The EdTech 2024 White Paper and Rankings will provide a comprehensive view of the market, including data, analysis and forecasts of future development trends. This will be a reliable reference source, supporting training units and schools in finding optimal products, as well as helping businesses grasp product usage trends of users.

The Vietnam Education Technology White Paper 2024 shows that the revenue in the online education market in Vietnam is expected to reach 364.7 million USD in 2024. The online learning platform market is estimated to be worth 228.70 million USD in 2024. The average revenue per user in the online education market is nearly 42.7 USD in 2024. The number of users is expected to reach 11.8 million users in 2029.

The event attracted the participation of many schools, educational institutions, EdTech businesses and educational technology enthusiasts.

There are currently nearly 70 investment funds in Vietnam, not including foreign investment funds in the field of educational technology (EdTech). 2023 will witness nearly 200 million USD in investment in EdTech. There are about 750 EdTech enterprises operating in Vietnam, providing a variety of hardware, software and service products.

State-owned enterprises also participate in the K-12 learning management system and platform segment (preschool and general education) including: Viettel, Mobiphone, FPT.

Vietnam's EdTech products are distributed across all segments but focus mainly on foreign language and K-12 training segments. STEM education has more than 88,000 STEM lessons deployed in 2021-2022 and 2022-2023 starting from primary school.

Regarding emerging technologies in Vietnamese EdTech products, AI is widely applied in educational technology products in Vietnam. Especially EdTech products for foreign language training, AI applications include: speech recognition, text processing, image recognition.

Top technology elements used in EdTech products in Vietnam in 2023 include: ChatGPT, learning path design, gamification, XR/AR/VR, STEM/STEAM, voice recognition, handwriting recognition, image recognition...

Predicting an explosion of AI-integrated products

In 2024, B2C products with AI integration will explode to enhance the experience and support personalized learning. Especially foreign language learning products. This segment also attracts the most investment, at the same time, many international EdTech products will penetrate this segment in 2023, 2024 such as Testglider, Ielts science...

According to Dr. To Hong Nam - Deputy Director of the Department of Information Technology in charge of digital transformation in education (Ministry of Education and Training), the Government's and the Ministry of Education and Training's viewpoint is to promote the application of AI in teaching and learning, in testing, assessment and management at schools.

There are currently about 750 EdTech businesses operating in Vietnam, providing a variety of hardware, software and service products.

The advantages of AI in education are clear, such as helping students learn on their own, accessing a huge amount of knowledge; reducing pressure on teachers, making the testing and evaluation process more effective.

However, the use of AI faces issues of information security, the risk of users' dependence on technology, plagiarism... Therefore, in the coming time, management agencies and schools must develop a set of rules and guidelines for effective application of AI.

Also according to the White Book, the higher education segment has received much attention in the past two years, with the number of schools offering online second degrees increasing sharply.

Upskilling (enhancing and expanding workers' existing skills) and reskilling (reskilling workers so they can take on new jobs rather than losing their jobs due to outdated skills) continue to increase.

Large enterprises in Vietnam focus heavily on building their own learning systems and providing regular training for employees such as Vietnam Airlines, FPT, VNPT, Viettel, EVN...

The K-12 education segment still attracts the most investment due to its large market and willingness to spend on this segment. However, it still focuses on domestic products but is quite attractive to foreign investors due to its high user rate.

Technology and AI are essential

According to the White Book, investors in the Vietnamese EdTech market should invest in EdTech businesses with products that are suitable for market trends and needs, ensuring high competitiveness with existing free products. Priority should be given to investing in companies with sustainable business models that value content quality.

For units using EdTech, it is necessary to build a long-term and sustainable development strategy. Research the application of teaching and learning technology in a synchronous manner in subjects instead of the spontaneous, fragmented and small-scale situation as is the current situation in most schools.

For EdTech businesses, technology and AI are essential elements for current EdTech products to attract users and investors. Ensure that the content in educational products is in accordance with the requirements of the Ministry of Education & Training and the legal regulations of Vietnam.

Invest more in design, user experience, and communications because Gen Z is the largest user base of EdTech products today.

Along with that, it is necessary to participate in the process of training human resources in the EdTech field through cooperation with universities in building and adjusting training programs...

Minh Thu

Source: https://doanhnghiepvn.vn/cong-nghe/bung-no-cac-san-pham-cong-nghe-giao-duc-tich-hop-ai/20240810065212950