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January 27, 2022

Future of the University, as we know it, is Under Threat - EY Report.

- Advanced economies may have hit “peak higher education.”

- Disruption from temporary remote learning may be just the tip of the iceberg

- An agile approach to business reinvention is essential for universities to survive

EY, Universities

LONDON, Jan. 27, 2022 — A new EY report, “Are universities of the past still the future?” argues that universities in advanced economies face several existential issues in the wake of the COVID-19 pandemic.

The report derives its conclusions from EY analysis about the future of the higher education sector and 29 interviews with university leaders from the US, UK, India, Singapore, and Australia. The report finds that universities quickly need to adapt to a new reality due to demographic shifts, geopolitical challenges, changing workplace demands, and high student expectations for a quality digital experience.

If they’re not willing to rethink their purpose and how they deliver value, some of the challenges thrown up by the COVID-19 pandemic could rapidly develop into existential threats. So it is time to start asking difficult questions, challenge the status quo, and look at the opportunities the pandemic has created to rethink how and where higher education is delivered - and to whom.”

The report, published on the International Day of Education, recommends that universities take a “future-back” approach, looking ahead to 2030 to understand how five bold scenarios could require a radical transformation of their operating models if they are to remain competitive:

Catherine Friday, EY Global Education Leader, says:

“The COVID-19 pandemic exposed how far universities have to go when it comes to finding their place in the future of education and laid bare their over-reliance on on-campus learning and international students in shrinking domestic undergraduate markets. There is no going back to the way things were, and technology will continue to change the game across the higher education sector. So on this International Day of Education, universities need to start thinking and planning how they’re going to address the need for reinvention and fit into the future’s post-secondary and lifelong learning landscape.”

Source: EY

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Edited & Posted by the Editor | 2:14 PM | Link to this Post

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