Joel N. Myers, the founder of Accuweather, feels that higher education is about to experience a drastic revolution. The educational boom has really created an environment that is ripe that will have a great impact on where education is going.
The Co-Founder of Udacity, Sebastian Thrun, per Joel Myers states, "In 50 years, there will only be 10 universities left in the world." There are currently 5300 colleges and universities in the United States. Myers states that 99% of all innovation and development has happened in the past 100 years whereas humans have been on the planet for 100,000 years. That means that 99% of all progress has occurred in 1/10th of 1% of human history.
Myers states that we are creating 2.5 billion of gb of data every day and of all data that has ever been recorded and entered...95% has been created within the past 2 years.
With the advances of technology and how quickly new innovations are happening, education is a major area for creative destruction and that education will change greatly in 10 years than it has in the past 1000s of years.
Myers talks about how more and more college graduates are unemployed and that employers are reporting that colleges and universities have failed its college graduates by not teaching them how to be flexible enough in today's ever changing world.
Studies have show that 54% of c-suite executives feel that the US Higher Education system lags behind developed and emerging countries in preparing students for the workforce. 96% of these same executives say that innovation is the most important thing in revitalizing and revolutionizing the higher education program and that experiential learning and entrepreneurial-ship are necessary for improving and developing today's students.
Why are universities failing its students? 73% of these executives felt that there is a skills gap in today's work force and that 87% of most current college graduates lack the necessary skills to be successful in their jobs (to meet new and flexible demands) (https://news.northeastern.edu/2014/04/28/survey-innovation-higher-education/).
Myers says that the best way for Higher Education to prevail is to follow these steps:
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