Artificial Intelligence (AI) In Education Market Size Is Expected to Hit $80 Billion By 2030

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Sep 15, 2022, 08:30 ET

PALM BEACH, Fla., Sept. 15, 2022 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - Artificial Intelligence (AI) is crossing over to new markets and brings additional revenues along with it. Increasing demand for Intelligent Tutoring Systems (ITSs) is fueling the AI in education industry growth. ITSs have a common aim of enabling learning effectively. The growing integration of ITS into the learning process has assisted in improving students learning styles, offering personalized tutoring and high-quality education to the students, thereby accelerating industry statistics. Cloud computing technology is increasingly being used by educators, faculties, facilitators, and students at schools & higher education institutes to improve productivity and the overall learning experience. Cloud computing allows schools and universities to upgrade their prevailing infrastructure with advanced technologies without any substantial increase in their capital costs. A report from Global Market Insights projected that AI in Education Market size is set to surpass USD 80 billion by 2030. The report said: "There is a growing demand for outsourcing the management of AI in educational platforms. AI in education managed service segment is estimated to grow at a CAGR of over 55% through 2030 impelled by the increasing usage of intelligent algorithms among managed service providers. The cost-effectiveness of AI solutions is a major factor promoting the acceptance of AI among MSPs." Active Tech Companies in the markets today include: Amesite Inc. (NASDAQ: AMST), Microsoft Corporation (NASDAQ: MSFT), 2U, Inc. (NASDAQ: TWOU), Blackbaud (NASDAQ: BLKB), Instructure Holdings, Inc. (NYSE: INST).

The report added: "Natural Language Processing (NLP) held a market share of nearly 60% in 2021 owing to the growing adoption of NLP technology across educational institutes. NLP is a branch of AI, which assists computers in understanding, interpreting, and operating human language, filling human communication & computer interpretation gaps. Learning platforms and virtual facilitators accounted for about 50% of the artificial intelligence in education market share in 2021 led by the growing usage of various technologies by educational institutions to improve the quality of education for students. On-premise deployment held a market share of around 80% in 2021 credited to the security offered by on-premise deployment models. The on-premise storage of this data helps in providing instant access to the data as and when required with complete control over the system. These solutions also enable privacy and security of the student's data, accelerating their demand in the market."

Amesite Inc. (NASDAQ: AMST) BREAKING NEWS: Amesite and NAFEO Announce Addition of New Member Universities to Alliance - Amesite Inc., a leading artificial intelligence software company offering a cloud-based learning platform for business and education markets, announces that five new member universities have joined their collaborative alliance with the National Association for Equal Opportunity in Higher Education (NAFEO). New members include:

Alabama State University
Allen University
Benedict College
Clark Atlanta University
University of the District of Columbia

which have agreed to join NAFEO's Center for Opportunity and Equity (COE), a vehicle that NAFEO intends to support with a $30M fundraising effort to bring online learning resources to a first group of NAFEO's constituents, including Historically Black Colleges and Universities (HBCUs) and Predominantly Black Institutions (PBIs). Members of NAFEO's COE will have the opportunity to utilize NAFEO's planned Learning Community Environment^®, powered by Amesite, to deliver eLearning to build professional skills. The NAFEO members collectively enroll more than 700,000 students, and have over 7 million living alumni, all of whom are anticipated to benefit from the COE.

Lezli Baskerville, Esq., CEO of NAFEO, stated, "We are growing this alliance to deliver critical online learning infrastructure to our members through NAFEO's Center for Opportunity and Equity because it is the most efficient way to build enrollments and impact. Each university building its own infrastructure would take a great deal of time and be an inefficient use of resources. By working together and leveraging the strong history of trust and collaboration within NAFEO to engage and uplift our members, we ultimately intend to deliver millions of effective and affordable elearning opportunities. These will advance our constituencies economically, while enabling our universities to retain their storied brands and build greater impact." CONTINUED… Read this full release for Amesite at: https://ir.amesite.com/

Other recent developments in the tech industry include:

Instructure Holdings, Inc. (NYSE: INST) recently announced it has earned a renewed Ed-Fi Managed Operational Data Store and API Platform Badge for Elevate K-12 Analytics and the Ed-Fi API Provider Badge for Elevate Standards Alignment (formerly Academic Benchmarks), both for another two years. The distinction validates Instructure as an ongoing, trusted Ed-Fi Operational Data Store, Analytics provider and API partner.

Instructure's renewed badges reaffirm the ongoing contributions the SaaS platform is making as part of the collaborative Ed-Fi Community, which advocates for the effective use of data at scale in education agencies of all sizes through a data standard. Because Instructure's Elevate products leverage the Ed-Fi standard and technology suite, any state or local education agency can more effectively leverage their own data to support administrators, educators, students and parents. Districts have hundreds of applications in use and typically this data remains siloed and unused. By seamlessly and securely bringing these data sources together through a data standard; administrators, educators and parents can more clearly see important data in real-time to support student success.

Blackbaud (NASDAQ: BLKB), the world's leading cloud software company powering social good, recently announced that it has acquired Kilter. The acquisition will allow Blackbaud to expand activity-based peer-to-peer fundraising engagement, to support activity-based health and wellness initiatives for socially responsible companies, and to grow the ways individuals can connect with the causes they care about most through the activities they love.

Kilter is an intuitive, gamified, activity-based engagement app boasting virtually limitless activity type choices. Kilter expands activity-based engagement beyond the familiar options of running, walking and cycling, enabling users to track new, popular and personally relevant activities, from pickleball to meditation to motorcycling and more.

2U, Inc. (NASDAQ: TWOU), the parent company of leading global online learning platform edX, recently announced a significant update to its partnership model as part of its transition to a platform company, unveiling new revenue share options that give universities greater flexibility, as well as new tools to assist partners in lowering the tuition of their online degree programs at their discretion.

"As we embrace our future as a platform company under the edX brand, we're taking bold and important steps to support our university partners in transforming their institutions, expanding access, and helping bring down the cost of higher education," said 2U Co-Founder and CEO Christopher "Chip" Paucek. "Higher education is at an inflection point, with learners demanding more flexibility and better ROI. 2U and edX strongly believe that greater affordability is better for students, better for universities, better for the company, and critical to the future of higher education."

Microsoft Corporation (NASDAQ: MSFT) recently Barclays Bank PLC (Barclays) and Microsoft Corp. announced that Barclays has deployed Microsoft Teams as its preferred collaboration platform, powering collaboration for more than 120,000 colleagues and service partners in key locations around the globe. Under the agreement, Barclays is streamlining its existing communications and collaboration solutions, with Teams replacing several point solutions previously in use across the company.

As part of its efforts to better connect employees across its business units and functions, Barclays and Microsoft jointly executed a deployment plan for the use of Teams across the company. This plan included enhancing the data retention, search and retrieval capabilities available within Microsoft Purview to meet Barclays' needs.

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