Artificial Intelligence (A.I.) in education market is set to surpass $6 billion by 2024, according to a new research report by Global Market Insights, Inc. A.I. assists in improving the quality of education by addressing the learning challenges faced in the past including planning, reasoning, language processing, and cognitive modeling.
Various benefits offered by the acceptance of A.I. in education sector include tutoring, grading, immediate feedback on course quality, personalization in education, and instant feedback to students. The aim of A.I. is to be a virtual facilitator for the learning domain and to create virtual human-like qualities, who can think, react, act, and interact in a natural way using verbal and non-verbal communication.
The sector is expected to grow 50% CAGR. The key players in the A.I. in education market are IBM, AWS, Microsoft, Google, Nuance, Century Tech, Blackboard, Pearson, Cognii, Volley.com, Blippar, Knewton, Jenzabar, Content Technologies, PLEIQ, Luilishuo, Pixatel System, and Quantum Adaptive Learning.