Education platform delivers personalised learning online

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China is leading the way with innovations in education. In recent years, these have included teaching AI in schools in addition to using machine learning to match university roommates.

According to Chinese media consultancy iiMedia Research Group, sales revenue in China’s online education segment reached 33.4 billion USD last year and is expected to rise 24 percent in 2018. Startup VIPKID is looking to take advantage of this growth by recently raising 500 million. At a valuation of over 3 billion, this makes VIPKID one of the fastest-growing startups in all of China. Investors include big names such as Tencent Holdings Ltd, Sinovation Ventures, Yunfeng Capital, and global investment management firm Coatue Management.

VIPKID provides online video lessons for students, and relies on its ability to recruit and retain top quality teachers. The company currently has more than 500,000 students and over 60,000 teachers on the platform, close to double their numbers from the previous year. As with most gig-economy companies, appealing to quality workers is as important as signing up new customers. To hire teachers, the Beijing-based company relies on the services of a global background check firm called Sterling and on novel uses of tech. According to co-founder Chen Yuan, technology is a crucial part of the business. The company uses artificial intelligence (AI) to improve the teaching process and filter out teachers with low assessment scores.

Takeaway: VIPKID’s goal is not just to teach children English, but to build a ‘global classroom’, a virtual world where people from all over can better understand one another by learning together. The focus on quality consciousness helped VIPKID to earn a revenue in excess of 720 million USD last year. The company has plans to expand its business in 10 cities abroad in the next three years. How could AI help you streamline business processes and better assess employee performance?

Website: www.t.vipkid.com.cn
Email: [email protected]

Source: New feed 1