On Thursday, edtech platform Vedantu—a part of the unicorn membership, together with Byju’s, Unacademy, UpGrad and Eruditus—launched the Augmented Interactive (Ai) LIVE know-how in its on-line classroom for college students finding out in courses sixth and above. Vamsi Krishna, CEO and co-founder, Vedantu, advised FE that Ai LIVE is a elementary disruption not only for Vedantu, however for all the edtech trade. “A long-term, one-year, all-subject course of Vedantu, which earlier cost Rs 24,000-25,000 (which itself is lower than the offline price point), will now be priced as low as Rs 5,000,” he mentioned. “It’s a price disruption in the edtech world; calculated in terms of rupees per hour, we have brought down our paid courses from Rs 60-70 per hour to as low as Rs 10 per hour.”
Vedantu presents free and paid on-line courses (complementing college training) to K12 college students, in addition to preparation for aggressive exams reminiscent of IIT-JEE, NEET, and so on.
While Vedantu presents free dwell on-line courses additionally, for fairly a while Krishna and different co-founders had been debating how one can make its paid courses (that are extra impactful and result-oriented) extra reasonably priced for the lots. “All edtech companies in India, put together, cater to only 5% of school students (as far as paid classes that complement school education and competitive exam coaching are concerned),” Krishna mentioned. “The reason is that even Rs 25,000 per year that we used to charge—and it was quite competitive—was unaffordable for many. Ai LIVE will give serious students, especially from Bharat, better access to quality teaching.”
Under Ai LIVE, what Vedantu has performed is automate sure classes of a dwell interactive class to deliver down working prices. “A live online class is made up of four components—a teacher teaching concepts; students asking questions and the teacher answering; interaction; and then the teacher motivating and engaging with students,” mentioned Krishna. “We figured out what all components can be automated, so the ‘concept teaching’ part we automated by taking content from the best teachers, and even though teacher-student interaction will be live, we have used voice recognition technology with AI and ML to generate personalised voice messages that can clear some basic doubts of students.”
Krishna added that Vedantu has been testing this mannequin for 8-9 months and hasn’t seen any drop in engagement. “We have ensured there is no compromise in quality of teaching, and yet students pay a fraction of what they would at an offline classroom,” he mentioned. “For context, a JEE course that costs more than Rs 1 lakh per year in offline coaching classes will now cost just Rs 5,000 per year at Vedantu.” Last 12 months, Vedantu catered to over 200,000 paying college students, which was 300% development over the 12 months earlier.
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Source: www.financialexpress.com”