Author: IBL News

IBL News | New York

The University of Michigan’s (U-M) Board of Regents fired its President, Dr. Mark S. Schlissel — pictured above — this Saturday after he was involved “in an inappropriate relationship with a University employee.” 

“After an investigation, we learned that Dr. Schlissel, over a period of years, used his University email account to communicate with that subordinate in a manner inconsistent with the dignity and reputation of the University,” explained the institution.

The Board named former U-M President Mary Sue Coleman as Interim President. She will serve until a new President is named, expected for this summer.

U-M released Dr. Schlissel’s communications on the university’s website, as well as the letter sent to him. “Messages also demonstrate that you were using official University of Michigan business as a means to pursue and carry out a personal relationship with the subordinate.”

Dr. Schlissel was ordered to return all property “associated” with his presidency and vacate the presidential mansion within 30 days.

IBL News | New York

The Pittsburgh-based ARM Institute announced it will create a virtual reality prototype aimed at upskilling manufacturing workers for robotics and automation jobs. The Office of the Secretary of Defense’s Manufacturing Technology (ManTech) program will provide the funding.

The goal is to offer a prototype by fall 2022 that will give incumbent manufacturing workers the ability to earn knowledge, skill, and ability-based credentials via VR immersion.

For this initiative, ARM Institute will team up with SimInsights Inc., APT Manufacturing Solutions Inc., and IBL Education — the parent company of IBL News media outlet.

These assessments tend to occur on the site of manufacturing and other heavy industry-type environments and without the need to pursue technical school or by taking classes, according to Linda Wood, the ARM Institute’s senior certification manager, who is running the prototype’s development.

“I want everyone who’s working on a robot today to have that same ability without having to find a robot, find a certification program, and be able to take a robot out of production in order to be assessed on it because manufacturers aren’t going to do that,” Wood said.

IBL News | New York

Touro College and University System will move its main campus to 3 Times Square in the heart of Manhattan in January 2023. In this iconic skyscraper, the institution will take eight floors and have its own entrance on the corner of Seventh Avenue and 43rd Street.

This month, Touro College, a 50-year history nonprofit institution in higher-ed and professional education, under Jewish auspices, announced plans to set a new 243,305 square-foot campus in that iconic tower — which is owned and operated by the Rudin Family. The lease is for 30 years.

The move reaffirms Touro’s focus on in-person learning. “After conducting comprehensive surveys and thorough conversations with faculty, staff, and students, we know our community places great value on in-person learning,” said Dr. Alan Kadish, President of the Touro College & University System.

2,000 staff and students will attend class there at 3 Times Square daily.

Seven of Touro’s schools will be housed here: the College of Pharmacy (TCOP), New York School of Career & Applied Studies (NYSCAS), Graduate School of Business (GSB), Graduate School of Education (GSE), Graduate School of Jewish Studies (GSJS), Graduate School of Social Work (GSSW) and Graduate School of Technology (GST).

The school will build a library, academic facilities, laboratories, student lounges, and cafes.

Approximately 19,000 students are currently enrolled in Touro’s schools and divisions. It has 35 campuses and locations in New York, California, Nevada, Illinois, Berlin, Jerusalem, and Moscow.

In parallel to expanding its footprint in Midtown Manhattan, Touro renewed the lease for its TouroCOM Harlem campus at 230 W. 125^th St. for another decade.

3 Times Square was originally constructed as the North American headquarters for Reuters Group PLC in the early 2000s.

IBL News | New York

How far can AI teachers realistically go?

Take a look at one of the latest Silicon Valley initiatives. San Mateo, California–based DeepBrain start-up showed AI capabilities by rendering a presidential candidate. In Seoul, South Korea, an AI-created model, an avatar of a politician — candidate Al Yoon Suk-yeol — draws the attention of the crowds on a big screen.

DeepBrain AI’s human model was the result of hundreds of hours of recorded video used to learn the person’s voice, accent, and gestures. Once the AI Human was trained, the provided script was pronounced as the actual person.

AI speech synthesis, video synthesis, and natural language processing technology result in time and cost reduction as there is no need to record a real persona every time video content is made.

DeepTrain AI said that “even depending on how it is taught, real-time communication with people is also possible.”

Various industries are seeing AI humans increase.

— In broadcasting, AI anchors and announcers can conduct news.

— In retail, last August, a 7-Eleven convenience store displayed an AI human answering questions about promotions, events, and nearing information.

— In the financial industry, AI bankers are already active. KB Bank has introduced kiosks where AI bankers appear on screens in offline branches. They only work on basic operations for now.

— In education, Kyowon, in October, launched a digital education platform called ‘AiCANDO’, where ‘AI Tutor’ appeared.

In addition, the AI Human of popular YouTuber Dottie appears to help with learning.

DeepBrain AI, specializing in deep learning-based video synthesis and voice synthesis source technology, claims its technology can be implemented as an AI announcer, AI anchor, AI banker, AI tutor, AI show host, AI kiosk, AI video consultation, AI concierge, AI doctor, and AI lawyer.
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IBL News | New York

Ellucian, provider of SIS and ERP for higher ed institutions, announced the acquisition of CampusLogic, a SaaS EdTech company specialized in student financial solutions, with 800 customers. The transaction amount was not disclosed.

Currently, 86% of higher education students receive financial aid.

“Integrating CampusLogic’s capabilities across Ellucian’s comprehensive SaaS offerings creates new opportunities for innovation beyond student financial success to address the issue of student well-being,” said Laura Ipsen, CEO, Ellucian.

“Our solutions improve the student financial aid experience, addressing the number one barrier to enrollment and graduation,” said Gregg Scoresby, Founder and CEO of CampusLogic.

Gregg Scoresby will join Ellucian “in a new role to lead the vision and strategy focused on student success and well-being,” according to the acquirer.

Reston, Virginia-based Ellucian claims it has 2,700 customers in over 50 countries.

Big news to start 2022! Ellucian has signed an agreement to acquire @CampusLogic, a leading edtech software provider. CampusLogic’s powerful financial aid solutions will expand our offerings to address the biggest barrier to graduation today. https://t.co/nCLAkQYjDj

— Ellucian Inc. (@EllucianInc) January 11, 2022

IBL News | New York

The London-based Times Higher Education (THE) acquired Inside Higher Ed for an undisclosed amount this month.

Inside Higher Ed promised that its journalism “will remain independent and will continue to provide thoughtful, substantive analysis on the pressing issues facing higher education.” It will continue operating under its existing brand. 

Washington DC-based Inside Higher Ed “explained that they collaborated with THE over the years and see this as a natural extension of our relationship.”

Founded in 2004, Inside Higher Ed claims to reach an annual audience of 25 million with its news stories and analysis, industry insights, job boards, and other tools and services.

With 50 years of history, THE has been owned by Inflexion Private Equity since February 2019. This media outlet provides, in addition to news stories, rankings, consultancy, and hiring services, to 800 clients. It is also known for its events, including THE World Summit Series, which engaged over 45,000 people globally in 2021.

IBL News | New York

EdTech companies that have figured out how to scale and achieve the highest Return on Education (RoE) amid Covid uncertainty continue to experience extraordinary growth and traction, says investor at GSV Ventures, Alexandra Argo, in an article at Medium. Investment firm GSV is now preparing its 2022 ASU+GSV Summit, scheduled for April 4-6.

In parallel, the company has released its 2022 GSV EdTech 150 list, with a selection of transformative companies in digital learning backed by venture capitalists. This selection comes after an evaluation of 3,000 companies across the three major sectors: higher ed, K-12, and life-long learning, including here workforce and adult consumer learning.

GSV developed a scoring system with several KPIs: revenue scale, revenue growth, active learner reach, international reach, and margin profile.

“We estimate that the 150 companies reach ~3 billion people, or close to half of the global population, and generate approximately $20 billion in revenue, growing in the high double digits,” wrote Alexandra Argo.

The list included publicly listed digital learning companies Coursera, 2U, Grand Canyon Education, Kahoot, Docebo, Upwork, Afya, Arco.

A third of the companies, like BYJU’s and Course Hero, are experiencing strong Network Effects.

In two years, global VC investment in EdTech jumped 72% year-over-year to $21 billion in 2021, up from $7B in funding in 2019.