What's the Future of Education Technology?

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Jan. 6 (Bloomberg) -- Blackboard CEO Jay Bhatt discusses education technology on Bloomberg Television's "Market Makers." (Source: Bloomberg)

Give us your vision of the future.

I guess you have a vision of certain aspects but what do you think is going to change?

Thank you for having me.

Obviously we have a vested interest.

We serve the education market.

Globally, we work with 80% of the 4400 institutions of higher ed in the u.s.. it puts us in a great decision to see not just the trends of the current but the trends of the future and what is really happening.

There are five or six really big things i think will really expanded 2014. from massive open online courses and all the way through to the use of mobile to the big eta proliferation going on in education as well as competency- based learning, which is a skill-based learning as opposed to course and curriculum-based learning.

It is an interesting time in education.

What do they need to be doing to increase the completion rate?

It is still very low.

It is very low.

Around 30% or 35% of students are learning online today.

So forget that for a moment.

This got a lot of buzz in 2013. unfortunately, 90% of those students, 90% of the people who sign up do not complete the course.

Why is that?

Two thirds say they only signed up because it's free.

The second reason is the course, you do not get credit in many cases toward a degree, so you're not using a course for some skill-based or future employment ace activity.

I think with the schools are finding is the mooc is a great way to introduce students to your brand and to transition the students into full-time programs.

Syracuse university is a great example.

They had 90 students complete one, the -- it was on data sciences and they got eight or 10 fully matriculated to a $15,000 per year program.

So it's a revenue generator, wonderful for the brand of the school that the focus will be less on massive and more on marketing for the school.

What is the pitch you make to universities?

If you are selling more or less the same product or something similar to universities and schools across the country, do they not lose some of their ability to differentiate?

Education is a very particular experience.

One school for the most part is nothing like another school.

That's right.

Blackboard offers tools that allow the facilitation of the learning process, whether it's online, physical teaching and learning some of the collaboration that goes around it.

It is not necessarily a unique -- think about the tools we use in everyday life.

You need to use these collaborative and workflow tools whether you are a broadcaster or an education environment.

The way the schools use the tools and how they implement them to further their curriculum to further their programs is their secret sauce, if you will.

Ultimately, a lot of the universities in the u.s. are thinking about what does the school of the future look like?

Is it going to be driven from an online perspective?

I want to interrupt you before we run out of time.

Why do they need you?

New york university dropped like board in flavor -- in favor of an open board solution and they can shape it anyway it wants.

I think open source software, for viewers who do not know, is a software developer by the community and it's free.

Open source software exists in all different elements of our environment.

The reason to go to blackboard is we are spending a tremendous amount of money on r&d and the next generation of technology.

Mobile and the mobile delivery of education is happening at high levels of proliferation.

You will see more and more mobile and the companies that can invest in delivery of

This text has been automatically generated. It may not be 100% accurate.

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