Homepage / Asia / Big changes are coming to education, and some developed nations could get left behind
Amazon says this Prime Day was its biggest shopping event ever Kudlow says President Trump is 'so dissatisfied' with China trade talks that he is keeping the pressure on As stocks regain their footing, an ominous warning looms Goldman Sachs downgrades Clorox to sell, says valuation is 'unsustainably high' How Satya Nadella has spurred a tripling of Microsoft's stock price in just over four years Kudlow says economic growth could top 4% for 'a quarter or two,' more tax cuts could be coming The one chart that explains Netflix’s stunning comeback US housing starts plunge 12% in June to a nine-month low Aerospace titans Boeing and Airbus top $110 billion in orders at Farnborough Target uses Prime Day to its advantage, logging its 'biggest online shopping day' so far this year Billionaire Marc Lasry sees bitcoin reaching up to $40,000 as it becomes more mainstream and easier to trade These are the 10 US airports where you're most likely to be hacked Amazon shares slightly higher as investors await Prime Day results Wreck of Russian warship found, believed to hold gold worth $130 billion A bullish ‘phenomenon’ in bond market is weeks away from fading, top credit strategist says Stocks making the biggest moves premarket: MS, GOOGL, TXN, UAL, NFLX & more Twitter shares up 50% since late April means most upside priced in, analyst says in downgrade EU fines Google $5 billion over Android antitrust abuse Mortgage applications fall 2.5% as buyers struggle to find affordable homes America may not have the tools to counter the next financial crisis, warn Bernanke, Geithner and Paulson Investors are getting spooked as the risk of a no-deal Brexit rises EU expected to fine Google $5 billion over Android antitrust abuse Ex-FBI chief James Comey urges Americans to vote for Democrats in midterm elections Elon Musk apologizes to British cave diver following baseless 'pedo guy' claim Disney, Comcast and Fox: All you need to know about one of the biggest media battles ever Xiaomi shares notch new high after Hong Kong, mainland China stock exchanges reach agreement The trade war is complicating China's efforts to fix its economy European markets set for a strong open amid earnings; Google in focus Hedge fund billionaire Einhorn places sixth in major poker tournament The biggest spender of political ads on Facebook? President Trump Asian stocks poised to gain after Fed's Powell gives upbeat comments; dollar firmer Stocks are setting up to break to new highs Not all FAANG stocks are created equal EU ruling may be too little, too late to stop Google's mobile dominance Cramer explains how Netflix's stock managed to taper its drop after disappointing on earnings Airbnb condemns New York City's 'bellhop politics,' threatens legal retaliation Amazon sellers say they were unfairly suspended right before Prime Day, and now have two bad choices Investor explains why 'duller' tech stocks can have better returns than 'high-flying' tech names Elon Musk is 'thin-skinned and short-tempered,' says tech VC Texas Instruments CEO Brian Crutcher resigns for violating code of conduct Google Cloud Platform fixes issues that took down Spotify, Snapchat and other popular sites Uber exec: We want to become the 'one stop' transportation app 'What a dumb hearing,' says Democrat as Congress grills tech companies on conservative bias Amazon shares rebound, report says Prime Day sales jumped 89 percent in first 12 hours of the event How to put your medical history on your iPhone in less than 5 minutes Investment chief: Watch these two big events in 2018 Even with Netflix slowing, the market rally is likely not over Cramer: Netflix subscriber weakness debunks the 'sky's the limit' theory on the stock Netflix is looking at watch time as a new area of growth, but the competition is stiff Why Nobel laureate Richard Thaler follows Warren Buffett's advice to avoid bitcoin Rolls-Royce is developing tiny 'cockroach' robots to crawl in and fix airplane engines After Netflix plunge, Wall Street analysts forecast just tame returns ahead for the once high-flying FANG group Roku shares rise after analyst raises streaming video company's price target due to customer growth China is investing 9 times more into Europe than into North America, report reveals Amazon says US Prime Day sales 'so far bigger than ever' as glitch is resolved Netflix is on pace for its worst day in two years US lumber producers see huge opportunity, rush to expand San Francisco to consider tax on companies to help homeless Homebuilder sentiment, still high, stalls as tariffs, labor and land drive up costs Powell backs more rate hikes as economy growing 'considerably stronger' Netflix history is filled with big stock declines – like today – followed by bigger rebounds Intel shares get downgraded by Evercore ISI due to rising competition from Nvidia, AMD Petco aims to reinvent the pet store with something you can't buy online Genetic testing is coming of age, but for consumers it's buyer beware Tech 'FAANG' was the most-crowded trade in the world heading into the Netflix implosion, survey shows Netflix weak subscriber growth may indicate a 'maturity wall' that could whack the stock even more: Analyst This chart may be predicting the bull market's demise Wall Street says Netflix's stock plunge is a ‘compelling’ buying opportunity because the streaming giant ‘never misses twice’ Tesla sinks after Musk tweets, again Boeing announces new division devoted to flying taxis Stocks making the biggest move premarket: NFLX, UNH, GS, AMZN, WMT & more Deutsche Bank downgrades Netflix, but says big subscriber miss is not 'thesis changing' IBM is experimenting with a cryptocurrency that’s pegged to the US dollar North Korea and Zimbabwe: A friendship explained Virgin Galactic spinoff Orbit to launch rockets from the UK with space deal Artificial intelligence will create more jobs than it destroys? That’s what PwC says ‘Treasonous’ Trump and ‘Putin’s poodle:' Scathing headlines follow the Trump-Putin summit China’s fintech companies offer ‘enormous’ opportunity, investment manager says Trump's performance at summit with Putin was 'unprecedented,' experts say Walmart and Microsoft link up on cloud technology as they both battle Amazon European stocks seen mixed amid earnings; Fed’s Powell to address Congress How I knew I should quit my day job and run my start-up full-time: Viral website founder China's stocks have been trounced, but the trade war may ultimately be good news for those shares Billionaire tech investor Peter Thiel bets on crypto start-up Block.one Asian shares subdued open after mixed close on Wall Street; energy stocks under pressure Amazon cloud hits snags after Amazon Prime Day downtime Netflix isn't doomed by one quarter unless people start questioning the long-term investor thesis Tech stocks set to sink on Tuesday after rough evening for ‘FANG’ Netflix plummets after missing big on subscriber growth This wristband lets humans control machines with their minds The U.S. has a rocky history convincing Russia to extradite computer criminals Amazon suffers glitches at the start of Prime Day Jeff Bezos is now the richest man in modern history 'The United States has been foolish': Read Trump and Putin's full exchange Goldman Sachs recommends these 5 highly profitable companies — including Nvidia — to combat rising inflation Goldman Sachs releases 'tactical' stock picks for this earnings season Three red flags for Netflix ahead of its earnings report The bond market may be raising recession fears, but don't expect one anytime soon Cramer: Banks are 'making fortunes' but are still as hated as they were during the financial crisis Putin told Trump at summit: Russia never meddled in US election


Big changes are coming to education, and some developed nations could get left behind

For centuries, innovation in education has been led by powerful and influential countries.

That could be set to change, however, with today’s developing nations primed to lead the charge.

“It is likely that we could see the transformation of education systems occurring first in developing countries,” said William Altman, tech industry analyst at CB Insights.

Speaking with CNBC, Altman explained that incumbent educational institutions in the developed world were better equipped to survive the first waves of change.

“In many cases, these institutions have the cash, brand power, and are systematically entrenched enough to remain relevant,” Altman said. “However, in developing countries, less-entrenched institutions are not as likely to survive technological disruption from online courses.”

Another possible boon for developing nations’ innovation lies in population structure, as many of those countries also face the prospect of having to educate a large youth population.

According to the 2015 version of the United Nations’ World Population Prospects, African countries such as Niger, Uganda and Chad accounted for all top 10 positions in the world’s youngest populations. In Asia, China and India alone have a combined population of more than 600 million children aged zero to 14 years old.

As a result, “countries that must deal with very large numbers of people entering into, or already part of the first through 12th grade foundational education system will be forced to do interesting things — even if they are not ‘rich’ countries in terms of GDP levels and economic development,” said Steven Miller, Vice-Provost at Singapore Management University.

He pointed to places like India, the Philippines, Bangladesh, Indonesia and many of the African countries.

As technology dominates many aspects of life, the education space has not been spared.

“Educational institutions are already adopting the (Internet of Things) and digital tools to further the in-class experience as well as broaden the distribution and reach of their curricula,” said Altman. Looking ahead, he added that education may follow the same trend as today’s internet usage: increasingly taking place on mobile phones.

The biggest change, however, would be distribution – the opening up of once closed settings to a worldwide audience in a profitable way, Altman said.

Echoing this sentiment, Vincent Chin, Global Leader of public sector practice at Boston Consulting Group said that “the bottleneck” remains teacher quality, so there’s much focus on how to “extend the reach of the high quality teacher.”

With the wealth of opportunity available, it is perhaps of little surprise that many have jumped on the bandwagon. This has resulted in the development of alternative education pedagogies such as the adaptive learning method provided by companies such as Knewton. Recent years have also seen an increase in activity in the education technology space, with China producing its first such unicorn in the form of online tutor Yuanfudao.

Chin suggested that part of the reason for the increase in alternative education models is due to significant shifts across multiple facets of daily life, including changing workforce needs and easier access to now-digitized information. He added that the current education system was designed for the industrial era — with any form of modernization being largely incremental in nature.

“Students must learn new competencies (e.g. to conduct complex analytics) and develop character qualities (e.g. to collaborate effectively with others) to thrive in this changing world,” Chin said.

“Without modernizing as the world changes, individual welfare will suffer, economic needs will go unmet, and urgent, complex social problems will go unsolved,” he added. “What is needed is redefinition of education, to equip students for the modern world.”

Against this backdrop of change, traditional higher education institutions risk obsolescence unless they continue evolving with the times.

“Incumbent educational institutions in developed countries are facing an existential crisis as the cost vs. return ratio of a traditional college or even master’s level education gets worse over time,” Altman said.

Perhaps part of the answer to survival for these institutions can be found in the developed world, where some countries with aging populations have already adopted the concept of lifelong learning to encourage citizens to undergo periodic retraining to ensure skill sets remain relevant. For example, Singapore’s Council for Skills, Innovation and Productivity was founded in 2016 to provide education, training and career progression for all citizens.

Chin said the trend was likely to catch up across the world, where “education will become more of a lifelong journey where you alternate between developing a skill (at work) and getting the certification for it (in school).”

At the same time, he acknowledged that “the boundaries between education and work will get more blurred” as lifelong learning proliferates.

Others believe that good old-fashioned higher education offers offline experiences that will simply be challenging to replicate in the digital space.

“Organized educational settings and programs give us a social environment within which we educate ourselves, and this social context has phenomenally great importance,” Miller said.

Miller said strong universities played a multiplicity of roles within a nation’s ecosystem, while some even go on to play significant global roles. This was, in his opinion, something that online courses were unlikely to erode or displace.

“That is why universities have endured over the past 1,000 years, and will continue to endure for the next 1,000 in one form or another,” Miller said, acknowledging that “there will be a lot of change, and there will be a changing competitive landscape and dynamics.”

Source: cnbc china
Big changes are coming to education, and some developed nations could get left behind

Comments are closed.