Economics of the Ed Tech Revolution

Rapid changes in technology-including advances in augmented and artificial intelligence, machine learning, and mobile-are paving the way for significant changes not only in the channels through which education is delivered but in how education itself is structured. This article identifies eight ways in which education technology can change how learning is facilitated and who will facilitate that learning. Basic economic principles then provide a framework for thinking about how these changes will be embedded over time as education increasingly becomes a durable good providing increasing returns through network effects.