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The EdTech boom, once synonymous with the future of learning, has hit turbulent waters, particularly in India’s corporate and professional learning space. As the lines blur between traditional education and corporate learning & development (L&D), we are witnessing a shift in how companies and young professionals approach upskilling, executive learning and career growth.
EdTech Crisis
Two of India’s largest EdTech players, Byju’s and Unacademy, once at the forefront of online learning for students and professionals alike, have faced significant setbacks. Byju’s, which expanded into corporate learning and upskilling through partnerships and acquisitions, is currently battling declining revenues, layoffs and a shrinking user base.
Unacademy, too, saw a rapid downsizing of its operations as it struggled to convert pandemic-driven gains into long-term growth. The company cut 12 per cent of its workforce in early 2024, focusing now on profitability over expansion.
These crises aren’t just isolated to their business models but reflect a larger trend in the L&D space. Companies and young professionals are rethinking the efficacy of EdTech platforms that focus too heavily on pre-recorded, standardised content and are now demanding more interactive, personalised and hands-on learning experiences.
Executive Learning: A Silver Lining?
Despite the general slowdown in EdTech, executive learning has seen a significant uptick. As businesses across industries grapple with rapid technological advancements and the need for digital transformation, the demand for executive education has grown. A RedSeer Consulting report from Q1 2024 revealed that the executive learning market is expected to grow by 20 per cent annually, reaching a market size of $2.5 billion by 2025.
In this environment, organisations no longer see L&D as a luxury but as a critical investment in their workforce. Platforms like Coursera for Business and upGrad have tapped into this by offering professional courses that cater to both individual contributors and management-level professionals.
Moreover, companies like Reliance Jio and HCL Technologies are investing heavily in in-house L&D initiatives, creating custom programmes that focus on leadership, AI, data science, and other high-demand skills. Unlike the generalist courses offered by early EdTech platforms, these programmes are hyper-focused, offering practical, career-oriented training.
Can Advanced AI Save EdTech In Corporate Learning?
One promising trend in corporate L&D is the growing integration of advanced artificial intelligence (AI). AI-driven learning platforms, with their promise of adaptive, personalised education, are beginning to redefine how employees and young graduates learn. AI’s ability to analyse a learner's strengths, weaknesses and learning preferences in real time is already being harnessed by leading L&D platforms.
For instance, Degreed and LinkedIn Learning are investing in AI tools that adapt course materials to an individual’s role and career goals. AI-enhanced feedback, virtual coaching and predictive analytics are now helping companies identify which employees need upskilling, which can accelerate their career growth and where gaps lie in the organisation’s skill set.
The key challenge, however, is whether AI alone can fill the growing gap between the demand for practical, workplace-ready skills and the sometimes overly academic content provided by EdTech platforms. While AI is improving the customisation of content, there remains a need for human interaction, mentorship, and real-life project work — areas where traditional EdTech platforms have struggled.
Investor Perspectives: Cautious Optimism For L&D
In 2020 and 2021, EdTech was a darling for investors. But by 2023, investor sentiment had significantly cooled, with a Tracxn report showing a 70 per cent drop in EdTech funding in India compared to the boom years. The focus has now shifted towards L&D and executive education as the more sustainable growth avenues within the sector.
The future lies in platforms that can offer ROI in terms of real-world job skills and leadership capabilities. The focus is on platforms that collaborate closely with corporations to ensure alignment with industry needs.
The Future Of Learning
In the L&D context, the future lies in hybrid models that blend online learning with in-person experiences. A 2024 Deloitte survey on L&D revealed that over 70 per cent of companies are now opting for hybrid learning models, combining e-learning modules with workshops, mentorship programmes and on-the-job training.
Companies like Microsoft, for example, are offering employees a blend of online learning for technical skills, coupled with in-person seminars to focus on soft skills and leadership training. Similarly, Mahindra & Mahindra has adopted a hybrid L&D model that incorporates AI-driven online learning with in-person workshops aimed at fostering creativity and problem-solving.
The era of EdTech as we once knew it might be fading, but the future of L&D remains bright. As companies invest more in upskilling their employees and young graduates demand more practical, career-oriented training, the L&D landscape is shifting towards a more sustainable model.
