Saving and investing are some of the best ways to build wealth. And Generating a good source of income and gaining more knowledge is one of the reasons Why you should invest in EdTech. However,  in this article, you will learn more about EdTech and why it important it is to invest in it.

What is EdTech?

 Educational technology (also edutech, or edtech) is the combination that involves the use of computer hardware, software, to facilitate learning. Furthermore,When referred to with its abbreviation, “EdTech,” it often refers to the industry of companies that create educational technology. Many of these companies are in the US.  They are also rapidly expanding into educational markets across North America, and increasingly growing all over the world.” It is gradually expanding to Africa and an example of a very effective and effective EdTech company is SchoolTry.

In addition to the practical educational experience, educational technology usually involves theoretical knowledge. However this is usually from various disciplines such as communication, education, psychology, sociology, artificial intelligence, and computer science. Although  It encompasses several domains including learning theory, computer-based training, online learning, and m-learning.

History of EdTech 

The use of media for instructional purposes is generally traced back to the first decade of the 20th century. This is with the introduction of educational films(the 1900s) and Sidney Pressey’s mechanical teaching machines (1920s). The first all multiple choice, large-scale assessment was the Army Alpha. It was used to assess the intelligence and, more specifically, the aptitudes of World War I military recruits. Further large-scale use of technologies was  in training soldiers during and after WWII using films and other mediated materials, such as overhead projectors. The concept of hypertext is  the description of memex by Vannevar Bush in 1945.

However, Online education originates from the University of Illinois in 1960. Although the internet would not be created for another decade, students were able to access class information with linked computer terminals. Also, Online learning emerged in 1982 when the Western Behavioral Sciences Institute in La Jolla, California, opened its School of Management and Strategic Studies. 

Why you should invest in EdTech 

01. Cost:

The worldwide demand for education is constant. EdTech allows for scalable and accessible learning solutions at cost friendly prices. This makes reaching diverse populations easier and cheaper. EdTech can reduce costs  with traditional educational methods, offering affordable alternatives and democratizing access to quality education.

02. Data:

EdTech platforms generate valuable data on student performance and engagement, enabling educators to make reasonable decisions and refine teaching strategies. This data can also serve both long term and short term purposes.

03. Continuous learning:

  With the increasing emphasis on lifelong learning, EdTech platforms play a crucial role in providing accessible and flexible education. This also paves way for continuous learning.

Conclusion 

EdTech doesn’t merely supplement traditional education; it transforms it, creating a dynamic ecosystem where students can thrive.

However, as we embrace the promise of EdTech, it is crucial to navigate potential challenges. Issues such as the digital divide, concerns about data privacy, and the need for effective teacher training.

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