AI in Education Market to grow at 45% CAGR from 2018 – 2024 Artificial Intelligence (AI) in Education Market

Artificial Intelligence in Education Market to
grow at 45% CAGR from 2018 – 2024: Global
Market Insights Inc.
Artificial Intelligence (AI) in Education Market to surpass USD 6 billion by 2024;
driven by increasing venture capital investment in AI and EdTech. AI in education
market is driven by the integration of the Intelligent Tutoring System (ITS) in the
learning process. ITS is one of the advanced applications of AI aimed at providing
immediate and personalized feedback and instructions to learners without the
intervention of a human tutor. The numerous benefits offered by the system is major
factor augmenting its demand. It assists students in improving their learning styles,
offering personalized tutoring and high-quality education by gauging their pre-
existing knowledge and learning. The platform collects data points and employs
machine learning and predictive models to determine individual knowledge and skill
levels and analyze the performance. It also provides students immediate feedback
for improvement.
However, the high cost of deployment and lack of skilled workforce are the factors
hindering the AI in education market growth. These systems are expensive to
develop and implement and the timeframe required for the development of these
systems is large limiting their implementation in the real world. Moreover, the risk of
data leakage and security also restrain the market growth.
Artificial Intelligence (AI) in Education Market
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