How the intersection of edtech and the creator economy is reshaping education – SmartCompany.com.au

Over the course of the pandemic, learning models and universities became less central as remote learning and work became the norm. Amidst the disruption, we saw more cohort-based learning programs rise in popularity. Concurrently, we also saw a surge of the creator economy — a wave of cr…….

Over the course of the pandemic, learning models and universities became less central as remote learning and work became the norm. Amidst the disruption, we saw more cohort-based learning programs rise in popularity. Concurrently, we also saw a surge of the creator economy — a wave of creators feeding their content to hungry consumers who were stuck at home. In 2021 alone, creator economy businesses received US$1.3 billion ($1.77 billion) in funding, nearly three times more than 2020. 

Taken together, these two trends can have a profound impact on the way we learn and who we learn from. What is the role of the traditional university classroom when cohort-based learning platforms like Reforge offer more convenient pathways to sharing and acquiring knowledge? And what does it mean to be a ‘teacher’ at a time when anyone can commercialise their expertise? 

The rise of the creator economy alongside the boom in cohort-based edtechs will further reshape our education landscape. In doing so, it will usher in greater accessibility to education by empowering teachers and skilled experts to become creators, plugging into next-generation platforms to reach bigger audiences and therefore pushing the boundaries of how we define ‘teachers’ in this new era of open education. 

The rise of cohort-based learning

The internet has been a driving force in revolutionising education for some time from increasing accessibility and reach through MOOCs like Udacity and Coursera to opening the minds and skills of experts through MasterClass.

Now, we’re in the midst of the next wave of revolution with cohort-based courses rising as the model of choice for online learning — driven by teachers’ insights rather than slow and outdated curriculum guidelines. According to a 2019 study by MIT researchers, MOOCs have a completion rate of just over 3% whereas cohort-based courses tend to have higher engagement and in turn higher completion rates. Content is available on-demand, but instructors provide guidance and structure with some programs offering live lectures. However, the bulk of the learning happens peer-to-peer, in the community of students sharing their learnings and exchanging insights with one another. 

At Folklore, we have invested in Aussie online learning platform ScholarSite, which offers live cohort programs led by experts on relevant topics like the potential of blockchains and the business of space</…….

Source: https://www.smartcompany.com.au/startupsmart/analysis/edtech-creator-economy-education/

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