Eyes on the Future: Top 6 Trends Spotted at the GSV Emeritus India Summit Day 3

Education has a key role to play in innovation. It is because education mentors the innovators of tomorrow. It is, thus, imperative for education to embrace innovation before any other field. At the GSV Emeritus India Summit Day 3, we cast our vision to the future. What is coming for education and technology in the near future, and how does it impact edtech as a space?

While panelists and experts engaged in their discourse, we spotted these broad trends for the future. 

#1: The rise of Indian MNCs in the global edtech space

So far, panels have discussed how edtech players could tap into the immense potential of Tier-2 and 3 cities in India. But, is that the only market for edtech? Ravi Bhushan, Founder and CEO of BrightChamps, suggested we cast a wider net by looking outside our geographical boundaries. At the GSV Emeritus India Summit Day 3, he suggested, “India has two sets of opportunities: a huge population of native English speakers and the ability to easily serve an English-speaking learner base across various geographies.”

Mohan Lakhamraju, Founder and CEO, Great Learning, also considered this a distinct possibility because adult learners worldwide have similar needs, and the existing differences can be managed easily. Pramath Raj Sinha, Founder & Chairman of the Board of Trustees, Harappa Education, added that Indian edtech players had a lower price point advantage. This meant they could disrupt the market, in a way very similar to the Indian IT boom. 

Pranjal Kumar, CFO and Head of Corporate Development, Emeritus, summed up the discussion with a critical forecast. He said, “We have seen that the tools we are building in India are also relevant for other markets. In fact, 70% of our business comes from the U.S. and Europe. We are in an advantageous position! Fast forward 10 years, and you will see a lot of edtech MNCs out of India.”

#2: Indian education as a brand of its own

It’s one thing to do good business and quite another to emerge as a brand. And it seems that India edtech leaders are confident that Indian education will emerge as a brand in the future that learners willingly seek out. Pramath Raj Sinha drew attention to the branding by discussing the focus on ‘hyperlocal’ that is trending in the U.S. He expressed optimism that Indian education could become a novelty, like watching Korean cartoons or Turkish shows. 

“We must focus on high-quality education from day 1 to build the ‘Indian Education’ brand, and not just our brands,” he added. 

Pranjal Kumar added to the branding narrative by saying that great educational brands are not built in a decade but in centuries. “At Emeritus, we believe it’s better to partner with an old brand and leverage that partnership to build our own brand. It also accelerates the process of brand building and gives heterogeneity to our brand image. Our belief here is that if you’re building a global brand, you’re partnering better with institutions,” he explained.

#3: Leveraging AI to create real intelligence

Interestingly, one of the panel discussions at GSV Emeritus India Summit Day 3 was called “Creating Real Intelligence: The Promise of AI.” The question being addressed: can AI really create intelligence? Here’s what the panel had to say:

Chaitali Moitra, Regional Director-South Asia at Turnitin India, expressed concern as she said, “There have been concerns in the research community: Are critical thinking skills going to be hampered if we use AI? It’s about setting boundaries on what can be used and how you weave it in.”

However, technology is like power; it does not have a moral compass of its own. The human brain using it must provide that. And the panel believed that we must err on the side of accepting technology instead of avoiding it. In that vein, Nishant Chandra, Co-founder of Newton School, hoped that students would learn to use AI tools as a “buddy and co-pilot” so that they may be “industry-ready.”

In summation, Quddus Pativada, CEO of DigestAI, expressed the resounding verdict of the panel. He said, “We’re entering an age where startups are utilizing AI to its full potential instead of letting it be buried in research papers.” 

AI tools may not be able to replace human intelligence and ingenuity, but they are here to stay. And the next decade belongs to AI. 

#4: 2023 is the year of ChatGPT, and this is just the beginning

Speaking of trends and not venturing into ChatGPT is almost impossible in 2023. And why not. Mike Malefakis, President of University Partners at Emeritus, says that 2022 was the year of the metaverse and how it impacted learning, while 2023 belongs to ChatGPT. And it might become passe (or a norm) soon, but there is no escaping the impact of this innovation for now. 

The debate on whether ChatGPT will put people out of work is raging everywhere. But Mike Malefakis was optimistic about this technology. “Don’t be afraid of ChatGPT; harness it,” he advised both learners and executives. He predicted we were only looking at the tip of the iceberg when it came to hyper-accelerated improvements in AI. The tools of the future will get faster, better, and smarter. “Some of the smartest people in the world are already using ChatGPT to become more effective. As executives and learners, too, should embrace and use it productively,” he added. 

#5: Hybrid learning will be the next normal

Online learning was still in a nascent stage when the pandemic hit. And suddenly, it became the primary education model for adults and children. Post-pandemic, the transition between online and offline has not always been entirely smooth. Which begs the question, what is going to be the standard model of education in the future?

One of the panelists at the GSV Emeritus India Summit Day, Abhishek Maheshwari, CEO

Of Aakash Educational Services, believed that the future was hybrid. He said, “The impact of education in our segment is very tangible and measurable. It’s not about going online or offline. First, we have to retain the best of both and figure out which combination of both leads to the best career delta.”

He explained, “The distinction between online and offline is very prominent right now. This distinction will become less obvious over time. It’ll come down to what kind of outcomes we are delivering or what kind of service we are offering.”

#6: Skilling will happen at a scale and include leaders

It is a well-known fact that India has a large and growing labour pool. But the point of contention is how skilled this workforce is or isn’t. Does passing out of college or even having work experience make professionals industry-ready? 

To this, TC Haldi, Senior Director at MIT, predicted, “We will have to upskill one in every five people in the next few years. For front to mid-level managers, we have seen a huge demand for upskilling.” In essence, skilling as a business will have to scale up to meet the needs of a growing workforce. 

In fact, it’s not just mid to senior-level professionals who are looking for skilling. C-suite executives and leaders are also looking for skilling programs to help them do their jobs better. “Post-COVID, we’ve seen a high amount of interest in C-suite level programs, and that’s been a big change. We’re very interested in that segment and are pursuing it,” confirmed TC Haldi. 

And it’s a wrap!

The proceedings of the GSV Emeritus India Summit Day 3 came to a close with a very special fireside chat between Ashwin Damera, Co-founder and CEO of Emeritus, and Union Minister of Women and Child Development, Smriti Irani. The honourable minister spoke passionately about contextualising education for local experience and the possibility of commerce and compassion going hand-in-hand in a true blue Indian sense. 

While the GSV Emeritus India Summit for 2023 is coming to an end, we cannot say goodbye without revealing that the Smt. Smriti Irani herself is a lifelong learner and an Emeritus learner too! So it is rather poetic that this inspiring 3-day summit ended with her session. In closing, Ashwin Damera said, “If people in the highest echelons of this country believe in skilling, our future is bright.”

Written by Anwesha Barari