We live in a today world in which AI has disrupted everything… well almost everything. There is one industry that has been skulking in the shadows, undisrupted in centuries – literally. What’s worse is that we are letting them get away with it. That industry is higher education.
Nine years ago, I wrote my first book Legacice in which I put forward the idea that legacy thinking was the silent killer of innovation, the core idea was that in an established industry or business, progress doesn’t happen when you start doing something new, it happens when you stop doing something old.
Higher Education suffers from Legacide.
In fact, that’s not exactly true, our children suffer from their legacide – the hallowed halls of education on the other hand are laughing all the way to the bank. Let’s look at some of the numbers.
The Numbers Behind the Education Business Model
When we dive into the financial side of higher education, it’s easy to see that traditional universities are clinging to an outdated business model that needs a serious revamp, especially with the rise of AI and modern technology. Consider the following:
- College tuition has increased by 260% since 1980.
- The average student loan debt for a college graduate in the US is $32,731.
- Only 27% of college graduates have a job related to their major.
- 47% of college graduates work in jobs that don’t require a college degree.
This is simply unacceptable.
This academic arms race, fuelled by the proliferation of advanced degrees (“oh, you just have a bachelor’s degree”), sets a higher bar for what is considered an acceptable level of education.
Let’s understand what’s going on here. We live in an age where credentials rule supreme, and universities have become the self-appointed gatekeepers of professional legitimacy. However, outside of a handful of degrees in which rigorous knowledge is absolutely required, most degrees these days exist to offer an employer three things:
- proof that the graduate can think critically
- proof that they have staying power
- a foundation on which to build on
prompting students to invest increasingly in their education as a means to navigate the ever-growing maze of certification requirements. What’s worse is we just keep perpetuating this in the way that we hire them.
Think about it this way; higher education has become a paradox of sorts, propelling the upward trajectory of academic standards while diminishing the years the next generation have marked for productive work and experiential learning – and let’s be honest , as a 48-year-old, there’s nothing I miss more about my twenties than the sweet cocktail of delusional self-belief and the ability to work my ass off with little consequence.
Education is not the filling of a pail, but the lighting of a fire.
– William Butler Yeats
Now, what’s worse is that while this was true 10 or even 20 years ago, with the advent of AI it is even more true now.
Enter the disruptive force of AI.
Does it not strike you as strange that given the progress we have made with regards technological advancement, degrees still take as long – even longer than they did in days gone by?
An architecture degree takes the same time today (five years) as it did in 1940, and so does a design degree – that’s just insane.
AI has the ability to transform education and certification. It can revolutionize the process through adaptive learning systems, shortening the time to acquire skills and qualifications.
AI-based systems can customize learning experiences for individuals on a case-by-case basis really streamlining the process. It can also provide continuous, real-time assessments which have the potential to replace periodic exams by measuring progress dynamically. This will result in a more efficient and personalized experience and should lead to quicker skill acquisition.
What also excites me is AI’s potential for soft skill evaluation, objectively measuring a student’s workforce readiness. By harnessing AI, we will be able to optimize certification and create an efficient, engaging education system free from superfluous fluff.
The great aim of education is not knowledge but action.
– Herbert Spencer
To bring this home, traditional universities really need to embrace AI and modern technologies, but they will only do that when leading employers recognise the value of shorter, technology-driven degrees. This will be the push that will drive these institutions to adapt. If we don’t, we will continue to feed the education-industrial-complex with the most productive working years of our youth.
And there’s no time like the present. As the parent of a 20-year-old and a 15-year-old, the sooner those little barnacles can start being productive members of society, the sooner I can move to a cabin in a ski-resort somewhere. If you don’t want to do it for the kids, do it for me.
That snowboard ain’t gonna ride itself…!
About the Author
Having spoken in over 40 countries on six continents, rock and roll roadie turned entrepreneur and global keynote speaker Richard Mulholland knows first-hand the impact that eloquent and persuasive leadership can make. That’s why he and his team work with executives and speakers around the world, helping them be more confident, more compelling, and more authoritative.
Clients include Entrepreneurs’ Organization (EO), Young Presidents’ Organization (YPO), LinkedIn, Goalcast, Virgin, Aspen Pharma, Bayer, and SAP.
He is the founder of persuasion powerhouse Missing Link and has written three books: Legacide; Boredom Slayer; and his latest, Here Be Dragons.
His talks around the world address a variety of topics spanning strategy, leadership, sales, and persuasive communication. He has shared the stage with amongst others Malcolm Gladwell, Seth Godin, and will.i.am, and recently made the RealLeaders Top 50 Leaders to Watch in 2023 (alongside Lewis Hamilton and Adam Grant).
Chris Joeckel, head of Global Sales for LinkedIn says, “Rich was inspirational, enlightening and provided incredible insights specific to our attendees development within their current roles at LinkedIn…”
