Artificial Intelligence Application in Education: Financial Implications and Prospects

Abstract

Modern education systems face new possibilities of application of innovative technological decisions in education that promote adaptive learning systems. Nowadays artificial intelligence becomes the central element of these systems and the basic tool to obtain competitive advantages on education services market. Thus, the aim of our research is to determine main trends, challenges and opportunities in application of artificial intelligence in education, exploring financial and social benefits, prospects and threats of that process. In order to achieve main aim of the research, some general and specific methods, such as content analysis, synthesis, abstraction and logical-graphic structuring, were used. Main trends are presented from three points of view: new horizons of teaching and learning opportunities, new threats for teaching and learning opportunities, and new financial and economic opportunities. Despite the social threats of AI usage, such as risks of human teacher unemployment and social interaction destruction within the learning process, market of AI for education systems steep increase. The highest rates of growth are typical for Asia-Pacific region, particularly for fast-growing economies such as China, and South Korea; North America market for AI in education still maintains the lead. Comparing trends in AI spread in education with financial successes of these countries we conclude that AI use in education systems can mitigate social drawbacks via greater accessibility for knowledge, higher quality of the educational process, individual and country competitiveness increase. Consequently, investments in innovation and promising AI programs in education remain a priority for economic growth and demand further support of educational policy makers.

Artificial Intelligence: Its Role and Potential in Education

“…Demir (2019) also emphasizes that all stakeholders involved in the education system should have the skills to use AI systems and work in harmony with AI systems. Osetskyi, Vitrenko, Tatomyr, Bilan and Hirnyk. (2020)…”

Artificial intelligence as Revolutionary Era in Handling Financial Burden in Education Field-A Meta-Analysis Based Study

“…Limitations are associated with identification of the artificial intelligence that should not misunderstood with the cognitive processes of thinking reasoning and problem solving (Recalde et al, 2020). Whereas, the artificial intelligence has the ability to problem solve only those defined parameters that are present in the integrated circuit (Osetskyi et al, 2020). Moreover, the new information and innovation not embedded in the artificial intelligence because of the dependent to the human mind (Rachmadtullah et al, 2020).…”

La Inteligencia Artificial y la Educación - [Artificial Intelligence and Education]

“…Por un lado, podemos destacar su infrautilización, entendiéndolo como el hecho de no aprovechar las oportunidades que la IA ofrece y que repercutirían en la innovación, los recursos o incluso en la pérdida de competitividad de nuestros alumnos en comparación con otros que sí que utilizasen esta herramienta de un modo productivo y responsable (Osetskyi et al, 2019).…”