EdTech has changed the conventional form of learning and made a phenomenal impact by bridging the gap of accessibility and affordability in higher education and skilling. This has opened collaboration opportunities to bring academia and industry closer with employability-linked programs.

A 2020 McKinsey study revealed that nearly nine in ten executives and managers believe their organisations face skill gaps or expect them to evolve over the next five years. The last few years have made us realise that technology is indispensable to all industries, including BFSI (banking, financial services, and insurance), retail, consumer, healthcare, manufacturing, etc., resulting in an increased demand for tech talent. Tech start-ups across IT, ML, and AI have proliferated and are actively looking for talent with tech mindset, skillset, and experience.

Companies need extremely competent and future-ready talent who can keep up with the pace of change brought about by technology. Even the government is prioritising skill- building opportunities and incorporating cutting-edge technology in pedagogy. Access to quality education remains a challenge for many and in most cases is confined to traditional curriculum, which does not meet the skill need for future work readiness. It is here where EdTech will don the pivotal role of an enabler and partner to industries and academia. Moreover, with over 351 million internet users in rural India now, EdTech platforms are steadily making their way into rural India and creating new opportunities. As per IBEF, the Indian EdTech industry was valued at US$ 750 million in 2020 and is expected to reach US$ 4 billion by 2025 at a CAGR of 39.77 per cent. This growth is driven by rising demand for non-academic courses from tier II & III cities.

The World Economic Forum Future of Jobs 2020 reportestimates that by 2025, 85 million jobs might be displaced by a shift in the division of labour between humans and machines, while 97 million new roles would emerge. EdTech holds the potential to revolutionize the way we skill and educate ourselves, and as a universal leveler, it makes excellence in education accessible to millions of people.

Providing a global & inclusive curriculum prepares students for global job roles, and the latest technologies, it ensures that learners develop in-demand skills. With personalised learning experiences, EdTech replaces the shortcomings of the traditional 'one-size-fits-all' model and allows students to progress at their own pace and focus on the subjects and skills that are relevant to their future careers. Interactive and innovative learning methods, such as D2D, multimedia, and interactive elements, will make learning engaging and enjoyable. On-demand nano learning, customised programs for special skilling needs, pre-recorded lectures, video archives, study material, etc., give students the flexibility to balance their education, work and personal lives.

EdTech promotes lifelong learning by removing age barriers and fostering faster development of re-skilling & up-skilling, new-age skills, and career progression. Honed with job-relevant skills, students can learn from practitioners and have access to the latest industry trends. It also provides networking opportunities and global cohorts, helping students to upskill through peer learning and collaboration. Micro-learning apps provide on- the-job learning support and help bridge the skills gap.

Multiple research reports have highlighted that graduates are not sufficiently skilled to be part of the future workforce. Unemployability stems from the reality that the curriculum in many universities is not in sync with the rapidly changing industry requirements. EdTech can help bridge this gap by providing employability programs directly linked to business outcomes. EdTech companies including TimesPro are working with businesses to create customised training programs for graduates to acquire relevant skills. Another challenge facing the workforce is the mismatch between the demand and supply of skilled workers.

There is a shortage of workers with the desired skills, especially in technology and data science. EdTech can help to bridge this gap by providing training programs aligned with Industry 4.0 and have tech-driven outcomes. Online courses, virtual tutoring, and other technologies, like AR & VR, can be utilised to enhance learning outcomes.

Times are changing, roles are being revisited, yet many are working with yesterday’s skills to solve tomorrow’s problems.EdTech platforms can help bridge this gap and help organisations tide over the current Talent Gap by partnering to help learners’ skill, reskill and upskill.