In continuation of the earlier post discussing insights from two researchers at the Faculty of Education, University of Cambridge, regarding ChatGPT's potential in education—alongside a subsequent article featured in The Economist a few months ago highlighting ChatGPT's capacity to reduce education costs https://pachecotorgal.com/2023/06/17/the-economist-how-chatgpt-could-help-teachers-and-lower-the-cost-of-college/ — it is noteworthy to explore the latest article published in The Economist. Released yesterday, the article delves into the pivotal role of Artificial Intelligence in reshaping the educational landscape. Highlighted below in blue is the penultimate sentence from this insightful piece.
"...An influential paper from 1984 by Benjamin Bloom, an educational psychologist, found that one-to-one tutoring both improved the average academic performance of students and reduced the variance between them. AI could at last make individual tutors viable for the many..." https://www.economist.com/business/2024/01/11/ai-can-transform-education-for-the-better
The text refers to an article from the 1980s authored by an emeritus professor. Despite the absence of the article´s name and journal details, a subsequent search using Scholar Google revealed that it was published in Educational Researcher under the title "The 2 sigma problem: The search for methods of group instruction as effective as one-to-one tutoring."
This particular article has garnered thousands of citations in Scholar Google and nearly 1400 citations in the Scopus database, sustaining its influence for over two decades and affirming its enduring significance.
Returning to The Economist article, it explores the surge in the value of companies in the online private classes market. Notable examples include Chegg, whose worth catapulted from $5 billion in early 2020 to $12 billion a year later, and Byju's, reaching a staggering private valuation of $22 billion in March 2022.
Nevertheless, the article fails to explore how the impact of generative AI can contribute to a rise in the value of these companies. It's important to acknowledge that a comprehensive 68-page report by McKinsey suggests that the transformative influence of generative AI on productivity has the potential to contribute an annual economic value ranging from $2.6 trillion to $4.4 trillion.
PS - Also, consider visiting the post titled "Yuval Noah Harari answers the question: "Not knowing what professions will exist (in the future), what should schools teach in the present?" https://19-pacheco-torgal-19.blogspot.com/2023/05/yuval-noah-harari-answers-question-not.html
