ChatGPT And AI Will Fuel New EdTech Boom

The Covid-19 pandemic may not truly be over, but the boom it spawned in online learning and tutoring startups sure is. Now, with kids back in classrooms and venture capital funding for edtech down near pre-pandemic levels, entrepreneurs and venture capitalists have turned their attention to virtual reality, short form video and, first and foremost, artificial intelligence. "Investors are going gaga over artificial intelligence," says Tony Wan, head of platform at Reach Capital, a VC firm that invests in dozens of edtech companies. The education industry has been flirting with AI for half a dozen years, he notes, but suddenly, the relationship has turned serious. "Every business in ed tech--if it's not an AI business--needs to have an AI component," echoes Michael Moe, founder and CEO of GSV Holdings, a VC firm focused on the education and workforce skills sectors.