This is what education will look like in the future; and the ASX stocks that may benefit
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Until COVID-19 arrived, the business models of the education sector endured decades of operating without disruption.
And IT services provider – and ASX tech stock – Data#3 (ASX:DTL) reckons there is more to come. Data#3 released a report The Future in Forecast about what lies ahead for businesses with technological adaption.
It predicted many changes caused by COVID-19 to hang around such as remote working, cloud-based business models and reliance on cybersecurity.
But the report put a particular focus on how education will be disrupted.
“Learning institutions and environments have evolved tremendously throughout the digital age, and this shows no sign of diminishing,” it said.
“From remote learning to interactive technology tools, education institutions stand to gain just as much as commercial organisations through the effective adoption of digital environments and the appropriate tools.
“Considering the beneficiaries of such adoption – the youth of today and global workforce of tomorrow – the stakes for effective digitisation and adoption within schools are high.”
Dats#3’s predictions included:
It goes without saying the ASX’s cohort of edtech stocks will benefit from increased adoption of technology in education.
If predictions about virtual reality (VR) come true then another stock that might benefit is Vection (ASX:VR1). It’s not only the only ASX stock in VR but according to the company, it’s the only global stock focused on VR for enterprise use.
At the moment its primary business is to help engineers, especially after it acquired VR platform Mindesk last year. But its CEO Gianmarco Orgnoni told Stockhead last year Vection open to other opportunities that might come its way.