K-12 Artificial Intelligence Market Set to Explode by 2024

The use of artificial intelligence in education is expected to explode to a worldwide market value of $6 billion over the next six years, with about 20 percent of that growth coming from applications for U.S. K-12 classrooms and consumers, according to a report by Global Market Insights. In fact, the U.S. education market combined--consisting of K-12, higher education and corporate training--represents more than half of that anticipated growth, reaching about $3.4 billion by 2024. Of that, about $1.2 billion is expected to come from K-12 uses, the Selbyville, Del.-based market research firm indicated. That's a far cry from where the nascent industry started. In 2017, artificial intelligence--broadly defined as the attempt to simulate intelligent behavior in computers that is similar to the functions of human behavior--accounted for more than $400 million among all education segments worldwide, including higher education and corporate training purposes, according to the study.