Budapest, December 20, 2023 – Technology and education are closely intertwined, and in the coming years, artificial intelligence (AI) is set to revolutionize educational technology, known as edtech. AI offers new possibilities in learning and teaching that have never been seen before. These innovations and the application of artificial intelligence will be the focus of the second EdTech Summit Hungary Educational Technology Conference and Exhibition in Budapest on February 3, 2024.
Forecasts suggest that artificial intelligence will fundamentally shape the future job market while making certain skills and competencies essential. Some argue that the advantage of technology lies in motivating students and creating a more productive learning environment. Despite initial concerns, it is now clear that AI will not replace teachers but rather assist them as collaborative aides, particularly in tasks like grading and school administration.
The AI EdTech Market on a Steep Growth Trajectory
According to a 2020 report by Grand View Research, the market size for AI-powered edtech companies reached $1.8 billion in 2021. Forecasts indicate a 36% compound annual growth rate (CAGR) between 2022 and 2030, with the market projected to reach $32.27 billion by the end of the period. Half of the market by application type consists of learning platforms and virtual assistant applications, followed by the category of smart content. Among the most popular solutions are products related to cloud services, machine learning, and natural language processing.
Alongside the continued expansion of digital technology, including artificial intelligence and robotics, the edtech industry is already experiencing rapid growth, expected to continue until the end of the decade. Recognizing this global market momentum, players in the Hungarian edtech industry formed the EdTech Coalition on September 2, 2023, at the first EdTech Summit Hungary conference. This coalition connects edtech companies, educational institutions, and government organizations to advocate for common interests and promote the development of domestic educational technology. The EdTech Coalition supports direct engagement to ensure the creation of high-quality and internationally competitive educational technology products. The collaboration aims to enable stakeholders in Hungarian education to benefit from educational technology innovations.
Artificial Intelligence Embedded in Education
AI technology brings revolutionary changes to education and the world of edtech. Personalized learning, adaptive educational systems, automated assessment and feedback, support for distance learning, advanced educational analytics, and interactive educational content are all AI-inspired innovations that will impact both students and teachers.
Applications supported by artificial intelligence enable educational systems to adapt to individual learning needs. They analyze students’ performance and learning styles, then offer personalized learning materials and exercises, allowing each student to progress at their own pace. AI can also support distance learning and virtual collaboration. Intelligent applications can assist students in online group work, while virtual assistants can help with homework or navigating online learning platforms.
Furthermore, with AI, educational institutions will be able to collect and analyze data related to students. This advanced educational analytics enables educational professionals and decision-makers to understand students’ progress, identify potential difficulties, and make recommendations for improving educational processes.
The EdTech Summit Hungary Brings Educational Technology Innovations Again
On February 3, 2024, the highly anticipated EdTech Summit Hungary Educational Technology Conference and Exhibition will be held for the second time, where participating educators and educational professionals will learn about the latest issues regarding artificial intelligence and domestic educational technology innovations.
The free conference will feature speakers who are experts and researchers in educational technology and digital education, sharing valuable insights on the possibilities of applying artificial intelligence in education, as well as discussing the relationship between AI and digital child protection. The accompanying exhibition will showcase products from companies specializing in educational technology, introducing their practical applications as well.
“Artificial intelligence and the development of educational technology present new challenges for teachers and educational institutions alike. It is crucial for schools and teachers to be open and prepared to apply new technologies, to become familiar with available educational technologies, and to select those that best suit their own and their students’ needs,” added Dr. Flóra Rétfalvi, Deputy CEO of EduTech Hungary Zrt., the organizer of the EdTech Summit Hungary conference.
