New Technologies, Innovation, and Quality Assurance: How to Consider - PowerPoint PPT Presentation

New Technologies, Innovation, and Quality Assurance: How to Consider QA and its Key Principles in a World of Disruptive Technology and Change in the Academy Troy Williams Managing Director, University Ventures March 2019

Technology and Quality Assurance in Higher Education Market pressure for faster degree programs 1 Rise of alternative credentials 2 Growth of online and competency-based education 3 New quality assurance = learning verification 4 1 U V C O N F I D E N T I A L / / T R A D E S E C R E T

Roadmap Market pressure for faster degree programs 1 Rise of alternative credentials 2 Growth of online and competency-based education 3 New quality assurance = learning verification 4 2 U V C O N F I D E N T I A L / / T R A D E S E C R E T

Over 10,000+ colleges and universities worldwide founded in the past 50 years From… …To Year 1500s 2019 66 26,000+ Number of institutions universities, colleges and primarily in universities Europe worldwide SOURCE: World Bank; Our World in Data 3 U V C O N F I D E N T I A L / / T R A D E S E C R E T

“Peak University” - US university count declining US Colleges and Universities Over Time 5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 0 1870 1880 1890 1900 1910 1920 1930 1940 1950 1960 1970 1980 1990 2000 2010 2019 Number of US Degree-Granting Colleges and Universities SOURCE: US National Center for Education Statistics (NCES) 4 U V C O N F I D E N T I A L / / T R A D E S E C R E T

A research-oriented, faculty-centered, isomorphic university model Typical University Model » Advance knowledge and research » Prepare students with research and critical thinking skills Objectives » Serve society through basic research and innovative thought » Academic departments organized around same set of canonical disciplines (humanities, social sciences, natural sciences, engineering) Governance » “Guild-like” tenure system rewards faculty conducting research in core disciplines for traditionally recognized journals 5 U V C O N F I D E N T I A L / / T R A D E S E C R E T

Employee tenures are decreasing Average US Employee Tenure Percent Decrease (2012-2018) 6 5.3 5.2 5.1 4.9 4.9 5 -8% 4.6 4.6 4.4 4.2 4.2 Number of Years -9% 4 3.2 3.1 3 2.8 2.8 3 -13% 2 1.5 1.3 1.3 1.3 1.2 -8% 1 2010 2012 2014 2016 2018 Total US Workforce 20 to 24 years 25 to 34 years 35 to 44 years SOURCE: US Bureau of Labor Statistics 6 U V C O N F I D E N T I A L / / T R A D E S E C R E T

Technology is remaking the workplace rapidly 2018+ Artificial intelligence/ 2007 automation Smartphone 2000s adoption Cloud- based 2000 enterprise software Social media 1990s Email, Internet 1980s Personal computer 7 U V C O N F I D E N T I A L / / T R A D E S E C R E T

US student count declining US Higher Education Enrollment Over Time 25 Millones 20 15 10 5 0 1870 1880 1890 1900 1910 1920 1930 1940 1950 1960 1970 1980 1990 2000 2010 2019 Number of Students SOURCE: US National Center for Education Statistics (NCES) 8 U V C O N F I D E N T I A L / / T R A D E S E C R E T

Global participation in higher education SOURCE: World Bank; Our World in Data 9 U V C O N F I D E N T I A L / / T R A D E S E C R E T

Increasingly, students go to college to get a better job Percent of Students who Consider Getting a Better Job a Very Important Reason to Go to College 90% 85% 85% 85% Percent of students 80% 76% 75% 75% 72% 70% 70% 65% 60% 1970 1980 1990 2000 2010 2016 SOURCE: National Freshmen Survey (UCLA) 10 U V C O N F I D E N T I A L / / T R A D E S E C R E T

Two models of education Education Employment Front-loading Just-in-time Age 20s 30s 40s 50s 60s 11 U V C O N F I D E N T I A L / / T R A D E S E C R E T

Coding “boot camps” address student employment goals Traditional University Coding Boot Camp Length of study 4 years 2-3 months Total tuition $200K+ $15-20K Job placement 81% 85%+ rate Expected salary $50K $85K 12 U V C O N F I D E N T I A L / / T R A D E S E C R E T

Boot camps will proliferate across many industries Selected Industries Illustrative Boot Camps Software Engineering Medical Training Design Sales 13 U V C O N F I D E N T I A L / / T R A D E S E C R E T

New technical skills are necessary U V C O N F I D E N T I A L / / T R A D E S E C R E T

The skills gap has widened US Job Openings and Unemployment Rate 8 12% 7 10% Number of Jobs Open (millions) 6 8% 5 4 6% 3 4% 2 2% 1 0 0% Job Openings Unemployment Rate % Jobs Open SOURCE: US Bureau of Labor Statistics U V C O N F I D E N T I A L / / T R A D E S E C R E T

Is the Skills Gap a broad phenomenon? SOURCE: Trading Economics U V C O N F I D E N T I A L / / T R A D E S E C R E T

The mechanics and technology of hiring have changed Hiring managers 75% that use Applicant <1% Tracking Systems: 2000: Today: 73% Companies that <1% use social media to recruit: 2000: Today: Most popular application mediums: 2000: Today: U V C O N F I D E N T I A L / / T R A D E S E C R E T

Why are employment outcomes worse? Proliferation of technical skills U V C O N F I D E N T I A L / / T R A D E S E C R E T

In response, universities are launching boot camps In the US, more than 40-50 universities have launched coding boot camps SOURCE: Course Report 19 U V C O N F I D E N T I A L / / T R A D E S E C R E T

How the Skills Gap will impact higher education » Boot camp and shorter degree programs will proliferate – Second and third tier universities must adapt – Regulation needs to support these programs – The traditional 3-4 year degree will decline in popularity – Boot camps will be integrated into higher education 20 U V C O N F I D E N T I A L / / T R A D E S E C R E T

Roadmap Market pressure for faster degree programs 1 Rise of alternative credentials 2 Growth of online and competency-based education 3 New quality assurance = learning verification 4 21 U V C O N F I D E N T I A L / / T R A D E S E C R E T

Micro-credentials address the communications gap between educators and employers LEARNING EMPLOYEES EMPLOYERS PROVIDERS Resume Job Certificate Description 22 U V C O N F I D E N T I A L / / T R A D E S E C R E T

Digital credentials are at the nexus of key market trends 89% 70% 51% #1 Engagement a Millennials Skill-Based Skill-based Demand for Priority Hiring Learning machine-readable, Almost 75% of workforce, 89% HR pros: a recognition Reduces cost-to-hire by 51% employers already actionable data about they rank learning & system at work improves 70%, time-to-train by 50%; moving to competency- growth as top priority in job employees & the employee experience. Companies organize based microlearning. selection. Lifts productivity & the around skills, not job titles. learners bottom line. $1.6T 85% 43% 81% Portable, digital, Debt Lack of Trust Gigs & verified Certifications Freelancing achievements Growing $1.56T in US student debt 85% of employers found a 43% of workforce by 2020 81% of adults with a non- and degree half life is short; lie or misrepresentation on will be free agents, driving degree credential say it’s other credentials are on the a resume or job application. demand for trusted skill very useful for getting a job. rise. indicators. SOURCE: Credly 23 U V C O N F I D E N T I A L / / T R A D E S E C R E T

Micro-credentials will require a marketplace, verification, and collaboration among issuers Individual Academic Candidates Institutions Verification Credential Credential Intermediaries Marketplace Issuers Employers Recruiting Training Intermediaries Providers 24 U V C O N F I D E N T I A L / / T R A D E S E C R E T

Less selective universities will be impacted more by micro-credentials Impact of Micro-Credentials Most selective Least impacted institutions Moderately selective institutions Least selective Most impacted institutions 25 U V C O N F I D E N T I A L / / T R A D E S E C R E T

University degrees will have value based on graduate performance Driver rating Seller rating Restaurant rating University rating 26 U V C O N F I D E N T I A L / / T R A D E S E C R E T