The peak of higher education - a new world for the university of the future

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The peak of higher education - a new world for the university of the future
The peak of
higher education —
a new world for
the university of
the future
The peak of higher education - a new world for the university of the future
“
                                                                                                     WHAT IF HIGHER
  FOREWORD                                                                                           EDUCATION IS REINVENTED
              Our competitive differentiation is our
                                                                                                     AS THE KNOWLEDGE
              campus + our people + our diversity.
   WHAT IF    How does digital allow this to be better,
                                                                                                     SERVICES SECTOR?
                                                                                                     This paper presents a thought
              rather than driving it down to the lowest                                              experiment that explores how
              viable product and price? How does                                                     converging technologies and new
    WE’VE     digital augment and give us superpowers?                                               business models might change the
                                                                                                     structure of the higher education
              Professor Brian P. Schmidt AC FAA FRS                                                  sector. It posits four ‘What if…?’
              Vice-Chancellor, Australian National University                                        questions that every vice-chancellor

   REACHED                                                                                           should consider to chart a course
                                                                                                     from present to future with greater
                                                                                                     confidence and clarity. Our primary
              Renewable energy and electric vehicle       A growing supply of digital-by-design
                                                                                                     consideration has been the role of the
              adoption have brought the world to          providers are offering new learning
                                                                                                     university as a provider of teaching/
              the point of ‘peak oil’ and ‘peak car’.     pathways and engaging content

    THE
                                                                                                     learning, rather than its role in
              What if, after decades of growth,           on platforms that harness AI to
                                                                                                     research – but we have one or two
              the size of the traditional higher          personalise what and how
                                                                                                     thoughts about research, too.
              education sector has also reached           people learn.
              its upper limits? What if the advent                                                   We hope this thought leadership paper
                                                          And this is happening at a time when

   PEAK
              of COVID-19 means we’ve reached                                                        provokes some light-bulb moments in
                                                          employers and society care less about
              peak international students, peak                                                      campuses across Oceania.
                                                          traditional degrees – and more about
              undergraduate degrees, peak campus
                                                          proof of job-ready skills. The job
              and peak rankings? What if the
                                                          market is crying out for innovators,
              decline of traditional higher education
                                                          problem solvers and self-actualising

OF HIGHER
              teaching and learning begins now?
                                                          learners with the ability to collaborate
              There’s plenty of evidence to               and co-create with others.
              support this hypothesis. Converging         Meanwhile, in the university sector,       Catherine Friday
              technologies are re-inventing               cost and delivery models are in            EY Managing Partner,
              higher education, along with every

EDUCATION
                                                          crisis. Traditional degree courses         Oceania Government and Health
              other industry on the planet.               are spiralling out of reach of more        Sciences and Global Education Leader
              Digital is driving the emergence of         learners. Governments are failing
              new ecosystems for learning and             to recover a higher proportion of
              knowledge creation, and setting the         traditional degree loans.

IN OCEANIA?
              stage for immense innovation.

              Already, we can see growing demand
                                                                                                     Alison Cairns
              for learning that is continual, flexible,
                                                                                                     EY Oceania Education Leader
              customisable – and close to free.
The peak of higher education - a new world for the university of the future
IT’S TIME

                                      TO THINK ABOUT

                                                  THE FUTURE

    D I F F E R E N T L Y

In 2018, EY made bold forecasts about                   disrupted themselves or coalesced                     As higher education gets re-invented
the state of the university sector in                   into new networks of alliances.                       around us, we should consider how
Australia and New Zealand for 2030.                                                                           the emerging knowledge services
                                                        As COVID-19’s systemic shock
Yet perhaps we were not bold enough.                                                                          sector will challenge today’s norms.
                                                        continues to play out and
Because of COVID-19, much of the                                                                              Hence, this paper.
                                                        technology changes the game of
2030 we predicted arrived in 2020.
                                                        higher education, we challenge you                    What follows are four plausible
And the sector was not ready.
                                                        to think the unthinkable:                             ‘What if…?’ scenarios for 2030 – all

                                                                                                                                                                                                                           “
The pandemic proved that, while                                                                               based on clear trends, signals and
                                                        Imagine that demand for traditional
universities have been with us for                                                                            technologies from today – to help
                                                        higher education never returns
centuries, they are not immune to the                                                                         university leaders create a state of
business reinvention that is taking
                                                        to previous levels; 2019 was the
                                                                                                              preparedness for the future.
                                                                                                                                                                                    If you want to see the
                                                        high watermark for universities in
down giants in media, automobiles
                                                        Oceania; we have reached peak
                                                                                                                                                                                       future, go and read
and energy. In a world of ‘work from
                                                                                                                                                                                      Coursera’s S1 filing.

                                                                                                              “
                                                        higher education.
anywhere’, people also want to
‘learn from anywhere’ – and new                         The pandemic threw Oceania’s                                                                                                                               Martin Bean
                                                        over-reliance on international
education platforms are rising to meet
                                                        student revenue into sharp relief –
                                                                                                              Many of our                                                                                             VC RMIT
this demand.
                                                        and demonstrated how universities                     universities face
Given the radically new expectations of
                                                        create major systemic risk when
higher education, Clayton Christenson’s                                                                       substitution risk
                                                        they assume that today’s sector
prediction1 may be correct. By 2030,
                                                        structure, competitors and profit                     and won’t survive
a quarter of universities could go
bankrupt, merge, restructure or close
                                                        pools will persist through the next                   exponential
                                                        5 to 10 year planning horizon.
as the sector is reinvented. Survivors                                                                        technological change.
will need to have forged ever closer
                                                                                                              Edmund Wong
commercial relationships with industry,
                                                                                                              Managing Analyst, EYQ China

1 Clayton M. Christensen and Michael B. Horn, “Innovation Imperative: Change Everything,” The New York Times, 1 November 2013.
  Available at: https://www.nytimes.com/2013/11/03/education/edlife/online-education-as-an-agent-of-transformation.html

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The peak of higher education - a new world for the university of the future
01
                                                                                  ‘The classroom
                                                                                                                              Changing attitudes and behaviours
                                                                                                                              towards digital present new                       Sector structure in 2030

                                                                                   is dead’
                                                                                                                              opportunities for universities to                 The knowledge services sector

                                                    WHAT IF ...                                                               reinvent learning delivery                        solves for accessibility.

                                                                                                                                                                                Universities are just one category
                                                                                  Imagine that accessing learning in
                                                                                                                                                                                of a plethora of knowledge
                                                                                  2030 is like listening to music via           61%                69%                          services providers accessed via

                                                         THE COST                 Spotify in 2021. It’s a do-it-yourself         Gen Z              Gen Y
                                                                                                                                                                                digital platforms, which reduce
                                                                                  or self-directed experience – for a
                                                                                                                                                                                the marginal costs of distributing
                                                                                  very low fee. At the touch of a screen,
                                                                                                                              believe the way they use technology               content to almost zero while
                                                                                  you access catalogues of learning
                                                                                                                              has changed since the pandemic began              enabling almost infinite scale
                                                                                  content to consume at your own pace,
                                                OF LEARNING                       with algorithms taking you deeper
                                                                                                                              (Source: Future Consumer Index)                   and reach. Universities in 2030
                                                                                                                                                                                are like public libraries in 2021:
                                                                                  into topics of interest and artificial
                                                                                                                                                                                temples of knowledge that few
                                                                                  intelligence matching learning activities
                                                                                  to current knowledge levels. You create
                                                                                                                                33%                20%                          visit because information and

                                                       IS DRIVEN
                                                                                                                                 Gen Z              Gen Y                       services have been dematerialised
                                                                                  and share your favourite educational
                                                                                                                                                                                to screens.
                                                                                  playlists. The platform offers you
                                                                                                                              feel that the way they study will change
                                                                                  increasingly personalised content based
                                                                                                                              over the longer term as a result of COVID
                                                                                                                                                                                Implications for
                                                                                  on your learning preferences, passions                                                        universities
                                                                                                                              (Source: Future Consumer Index)

                                                                    DOWN          and career aspirations.
                                                                                                                                                                                Traditional higher education
                                                                                                                                                                                revenues decline by $5-6bn

                                                                                  “
                                                                                                                              Universities have a unique
                                                                                                                              opportunity to build meaningful                   and the non-research workforce
                                                                                                                              connections and relationships                     shrinks by more than 50% as

                                                                            TO    Universities need to                        with a global audience                            new learning services proliferate.
                                                                                                                                                                                Winning universities pivot early,
                                                                                  stop trying to write                                                                          think ahead of the market,
                                                                                  every single piece of
                                                                     ZERO
                                                                                                                                                                                embrace learning platforms and
                                                                                                                                70%                69%                          acquire new capabilities.
                                                                                  content when there                            Oceania             Global

                                                                                  are already terabytes                                                                         Signposts from today
                                                                                                                              would enroll in online learning anywhere          Revenue declines for incumbents
                                                                                  of great content out                        in the world (Source: IPSOS Mori research
                                                                                                                                                                                as industries digitise; rise of

“
                                                                                  there that students                         for Connected Citizen )
                                                                                                                                                                                services like Clubhouse, Substack,
                                                                                  can access.                                                                                   YouTube and podcasts to replace
                                                                                                                                                                                pre-recorded lectures; availability
The future for universities is                                                    Professor Colin Stirling                                                                      of $500 Google career certificates
to both stream like Spotify and                                                   President and Vice-Chancellor                                                                 and free corporate MBAs as
                                                                                  Flinders University                                                                           substitutes for university degrees.
offer experiential learning like
a Crowded House concert.
Professor Ian Wright
Deputy Vice-Chancellor (Research)
University of Canterbury

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The peak of higher education - a new world for the university of the future
02
                                                                                  ‘Work is                                               Sector structure in 2030

WHAT IF ...                                                                        the new uni’                                          The knowledge services sector
                                                                                                                                         solves for accountability.

                                                                                                                                         Universities have lost their

   A CC R E D I TA T I O N
                                                                                  Imagine that investing in knowledge in                 monopoly on accreditation and
                                                                                  2030 is as easy as investing in ex-                    non-degree credentials are
                                                                                  change traded funds in 2021. You live                  mainstream. Some employers and
                                                                                  in ‘beta’ mode – constantly having to                  industry bodies compete directly

IS THE NEW                                                                        learn something new for your career.
                                                                                  You want to make informed choices
                                                                                                                                         with the traditional accreditation
                                                                                                                                         system while others partner
                                                                                  between acquiring intellective or job
                                                                                                                                         with universities to develop
                                                                                  skills, based on return on investment

BATTLEGROUND?
                                                                                                                                         bespoke credentials. Universities
                                                                                  and outcome metrics. You log on to
                                                                                  your independent career platform                       compete, co-create and engage
                                                                                  that provides expert advice on which                   in ‘co-opetition’ by working with
                                                                                  programs link most strongly to your                    employers to develop training
                                                                                  employability and career goals – with                  and the associated performance
                                                                                  choices ranging from on-the-job learn-                 measures to assure graduates
                                                                                  ing to micro-credentials to university                 have required workforce skills.
                                                                                  degree programs with job guarantees.
                                                                                  The platform holds your growing port-                  Implications for
                                                                                  folio of skills and has a dashboard that               universities
                                                                                  tracks the return on investment from
                                                                                                                                         First movers in digital
                                                                                  your learning.
                                                                                                                                         accreditation (e.g. stackable
                                                                                                                                         micro-certifications) gain access

                                                                                  “
                                                                                                                                         to a new $10bn marketplace.
                                                                                                                                         (Source: EY analysis)
                                                                                  We are grappling with

“
                                                                                                                                         Signposts from today
                                                                                  science labs and how                                   Policy linking funding to student
It doesn’t matter whether                                                         to use digital tools                                   outcomes; mismatches between
                                                                                                                                         employers and universities on
you take three years or six                                                       like gamification and                                  job-ready skills; corporates buying
years to finish your degree.                                                      virtual reality, as there                              enterprise learning licenses from
                                                                                                                                         universities; digital credentialing
As long as you’re learning,                                                       are accreditation                                      technologies.
that’s a good thing.                                                              challenges around this.
Professor Amit Chakma                                                             Professor Ian Wright
Vice-Chancellor                                                                   Deputy Vice-Chancellor (Research)
The University of Western Australia                                               University of Canterbury

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The peak of higher education - a new world for the university of the future
03
                                                                                   ‘Learners                                Imagine that funding your learning
                                                                                                                            journey in 2030 is like seeing a medical             Sector structure in 2030

                                                                                    empowered
                                                                                                                            professional or accessing disabilities
                                                WHAT IF ...
                                                                                                                                                                                 The knowledge services sector
                                                                                                                            services in 2021. In a true shift to
                                                                                                                                                                                 solves for affordability.
                                                                                                                            learning-centric education, you choose
                                                                                    by choice’                              from a wide range of government-                     Universities have lost their

                                           GOVERNMENT
                                                                                                                            recognised knowledge services                        monopoly on government
                                                                                                                            providers and are fully or partially                 funding for student places.
                                                                                                                            reimbursed by government vouchers or                 The full spectrum of learning
                                                                                                                            private education insurance. The new                 providers (many offshore)

                                                             FUNDS
                                                                                                                            ‘Educare’ system incentivises results                compete with different value
                                                                                                                            by paying a higher percentage of costs
                                                                                                                                                                                 propositions: teaching excellence
                                                                                                                            when you achieve your goal credentials.
                                                                                                                                                                                 and reputation in specific
                                                                                                                                                                                 fields, innovative and effective
                                                  INDIVIDUAL
                                                                                   “
                                                                                                                                                                                 pedagogical approaches, close
                                                                                                                                                                                 partnerships with industry
                                                                                                                                                                                 and potential employers, or
                                                                                   Our government is not covering the costs
                                                     LEARNERS                      of the country’s undergraduate programs.
                                                                                                                                                                                 simply value-for-money. Public
                                                                                                                                                                                 universities exit markets with
                                                                                                                                                                                 no unique selling point or where
                                                                                   A typical ANU non-science degree costs                                                        demand is low, and instead focus
                                                                    NOT            $15,500 of which the government pays $1,000                                                   their investments on areas where
                                                                                                                                                                                 they compete and win.
                                                                                   and the student pays $14,500. The equivalent                                                  Private universities enter markets
                                                                                   Harvard degree costs $80,000.
                                      INSTITUTIONS?
                                                                                                                                                                                 where they can apply agile
                                                                                                                                                                                 commercial models to selective
                                                                                   Professor Brian P. Schmidt AC FAA FRS                                                         courses at scale.
                                                                                   Vice-Chancellor, Australian National University
                                                                                                                                                                                 Implications for
                                                                                                                                                                                 universities

“                                                                                  “
                                                                                                                                                                                 $10b of government funding to
                                                                                                                                                                                 universities for student seats is

Why does doing digital well matter?                                                Concentrate on the learner! If education is                                                   now fully contestable.
                                                                                                                                                                                 (Source: EY analysis)
Different students have different needs.                                           truly about the learner, then why are there so
                                                                                   many separate sector bodies? This makes it too                                                Signposts from today
We need personalisation at scale, and to enable
                                                                                                                                                                                 Democratised access to learning;
easy movement between physical and digital.                                        hard to navigate the sector, therefore corporate
                                                                                                                                                                                 spiralling costs of traditional
                                                                                   or new competitors can seize an advantage.                                                    teaching and learning; cuts
Professor Iain Martin
                                                                                                                                                                                 in government funding for
Vice-Chancellor                                                                    Professor Pascale G. Quester
                                                                                                                                                                                 education.
Deakin University                                                                  Vice-Chancellor and President, Swinburne University of Technology

10 | The peak of higher education — a new world for the university of the future                                                                  The peak of higher education — a new world for the university of the future | 11
The peak of higher education - a new world for the university of the future
‘Research                                           Sector structure in 2030

                                                                                    pays the bills’                                    The knowledge services sector
                                                                                                                                       solves for sustainability.

                                                                                                                                       University research shifts to
                                                                                   Imagine that revenue from
                                                                                   commercialised research in 2030                     prioritise commercial, demand-
                                                                                   fulfills the role of government                     driven research and development,
                                                                                   funding and international student                   creating closer collaboration
                                                                                   revenue in 2021. Governments                        between universities and industry
                                                                                   proactively support opening up the                  and capital markets. Universities
                                                                                   higher education sector to private                  repurpose their under-used
                                                                                   and overseas investment in R&D.                     campus assets for business
                                                                                   Corporates, governments, venture                    incubation. PhD students have
                                                                                   capitalists and foundations post                    clear career paths into industry,
                                                                                   business issues and research topics
                                                                                                                                       eventually working for companies
                                                                                   to an ‘innovation marketplace’, where
                                                                                                                                       whose commercial research
                                                                                   PhD students and universities bid
                                                                                                                                       they undertake. Researchers
                                                                                   to secure funding and collaboration
                                                                                                                                       and universities gain a share
                                                                                   opportunities. Commercialised
                                                                                   innovation boosts economic growth.                  of IP and its real commercial
                                                                                   Australia and New Zealand climb into                revenues. Government continues

04
                                                                                   the top rankings of the world’s most                to fund non-commercial academic
                                                                                   innovative countries.                               research that supports the
                                                                                                                                       national interest.

WHAT IF ...
                                                                                   “
                                                                                                                                       Implications for
                                                                                                                                       universities
                                                                                   Universities must                                   Universities self-fund through
                                                                                                                                       research projects and
   COMMERCIALISED                                                                  prevail because they                                commercialisation of IP.
                                                                                   ask and answer                                      $120b in commercial research
                                                                                                                                       funding provides universities with
                                                                                   un-google-able
   RESEARCH                                                                        questions. And we
                                                                                                                                       a sustainable income stream of
                                                                                                                                       $10b per annum.
                                                                                   need to be better                                   (Source: EY analysis)

FUNDS UNIVERSITY                                                                   at passing on this
                                                                                   critical skill to our
OPERATIONS?                                                                        students.
                                                                                   Professor Colin Stirling
                                                                                   President and Vice-Chancellor
                                                                                   Flinders University

12 | The peak of higher education — a new world for the university of the future                        The peak of higher education — a new world for the university of the future | 13
The peak of higher education - a new world for the university of the future
HOW           “
                                                                                        Business model
                                                                                        disruption is here.
                                                                                                                                                               Tomorrow:
                                                                                                                                                           knowledge services

                                                                                        We are experiencing
                                                                                   TO   it. I had been sceptical                                                 Humans

                                             JUMP
                                                                                                                                                                 @ center
                                                                                        it would land in my
                                                                                        lifetime, but it is
                                                                                                                                                              YouCore
                                                                                                                                                                  needofto
                                                                                        happening now.                                                       Value
                                                                                                                                                                get Creation
                                                                                                                                                                    here
                                                                                        Bruce Lines
                                                                                        Chief Operating Officer                                 Technology                     Innovation
                                                                                        The University of Adelaide                               @ speed                         @ scale

                                                                             THE
                                                                                                               Today:
                                                                                                       peak higher education

                                                          S-CURVE?
                                                                                                              Scope

                                                                                                      Scale           Efficiency
                                                                                                                                                                                You need to
                                                                                                                                                                                 get here

“
In the age of machine learning we all
need to become learning machines.
                                                                                                                                   You are
                                                                                                                                    here
                                                                                                                                                                        To jump the S-curves and
                                                                                                                                                                        maintain a dynamic competitive
                                                                                                                                                                        advantage universities need to
                                                                                                                                                                        adopt a new set of behaviors to
Riaz Shah                                                                                                                                                               get and stay ahead
EY Global Learning Leader

14 | The peak of higher education — a new world for the university of the future                                                      The peak of higher education — a new world for the university of the future | 15
To survive and thrive in the
knowledge services sector,
universities must reinvent
                                                          “
                                                          COVID is forcing
                                                          strategic and business
                                                                                                 “
                                                                                                 How do we create
                                                                                                 disruption within to
                                                                                                                                                  4
                                                                                                                                                  INVEST

                                                                                                                                                  ACROSS THREE
themselves by jumping the
                                                          model diversification                  create new markets?                              TIME HORIZONS
S-curve – moving from the                                 that regulators and                    If we don’t, we face                             Ask: ‘How can we manage for
maturity stage of ‘peak                                   universities have                      decreasing demand.                               today and change for tomorrow?’
higher education’ to the                                  been unable to                                                                          Balance your reinvention agenda
                                                                                                 Emeritus Professor Martin Bean CBE
growth stage of knowledge                                                                                                                         to keep you thinking about
services. However,
                                                          achieve before.                        Chief Executive Officer
                                                                                                                                                  exponential change.
                                                                                                 The Bean Centre
reinvention is challenging                                Tim Fowler                             Former Vice-Chancellor, RMIT
because organisations                                     CEO, Tertiary Education                                                                   HORIZON: NOW
become trapped by today’s
assumptions.
                                                          Commission New Zealand
                                                                                                 3                                                Investment: 70%

                                                                                                 BUILD NEW VALUE                                  Focus: Strengthen the core business
                                                                                                                                                  models and operations of the university
Here is how you can repeat this                                                                  WITH NEW                                         of today. For example: protect sensitive
thought experiment to create a state                                                                                                              information with cybersecurity or
                                                                                                 CAPABILITIES
of preparedness for what is coming:                                                                                                               digitally schedule classes using

                                                        2                                        Ask: ‘How can we create long-
                                                                                                 term sustainable value for all our
                                                                                                                                                  intelligent automation.

                                                                                                 stakeholders?’
                                                        THINK ‘FUTURE-BACK’                                                                         HORIZON: NEXT
                                                                                                 Your historical value came from scale,

1                                                       TO SET YOUR
                                                                                                 scope and efficiency. Tomorrow, value
                                                                                                 will come from a new set of dynamic
                                                                                                                                                  Investment: 20%

                                                        REINVENTION AGENDA                       behaviours: putting humans@centre,               Focus: Build the new business models
BE CLEAR                                                                                         driving innovation@scale, and deploying          and technologies for the university of
                                                        Ask: ‘How will my institution be
                                                                                                 technology@speed. Leapfrog your                  tomorrow. For example: develop a next
ABOUT YOUR                                              relevant in one or two decades?’
                                                                                                 competitors with reinvention. Address            generation digital learning ecosystem to
                                                        Use scenarios beyond the ‘What if...?’
LONG-TERM PURPOSE                                                                                a customer need – a job guarantee                deliver ‘on demand’ learning.
                                                        questions in this paper to define the
                                                                                                 for graduates. Innovate your learning
Ask: ‘Why are we here?’                                 choices you need to make today.
                                                                                                 model and industry partnerships
Purpose will help you maintain                          What if the sector consolidates via
                                                                                                 to enable this. Deliver it with AI-                HORIZON: BEYOND
relevance as you journey into an                        mergers? What if universities form
                                                                                                 driven personalisation and digital
uncertain future. Is your purpose                       global partnerships like the airline                                                      Investment: 10%
                                                                                                 credentialing. Scale it up.
to: advance lifelong education                          sector? What if universities become
wellbeing, collaborate to solve grand                   digital platforms? Engage with           To build this muscle, go outside                 Focus: Make big bets to reinvent
global challenges, unlock knowledge                     your broader ecosystem, including        your sector to find talent from other            yourself and your industry. For example:
and commercialise research, or                          technology and consulting partners,      industries living with reinvention, such         build a digital platform to enable
something else?                                         to think differently about the future.   as media, financial services or energy.          offering job guarantees to students.

16 | The peak of higher education — a new world for the university of the future                                       The peak of higher education — a new world for the university of the future | 17
And not all students will pursue            As higher education peaks, universities
 SECTOR                                                 alternatives to universities. Many will     need to consider:
                                                        still want a coming-of-age experience       • What might the post ‘peak higher
                                                        before starting their professional
 REINVENTION                                            lives. For this cohort, universities will
                                                                                                      education’ world look like in Oceania?
                                                                                                    • What opportunities are there to use
                                                        continue to provide transformative
                                                                                                      technology to engage the world in
 WILL COME                                              experiences that go beyond acquiring
                                                        a catalogue of skills.
                                                                                                      new ways?
                                                                                                    • How might we produce job-ready

 G R A D U A L LY . . .                                                                               graduates as well as engaged,

                                                         AND THEN                                     life-long learners?
                                                                                                    • How might we build a university
Of course, universities will not
                                                                                                      that uses disruption as a
disappear overnight. They will remain
powerful vehicles for knowledge
                                                         S U D D E N LY                               competitive advantage?

creation, economic growth and                                                                       • Does every university deserve
                                                        Today, the landscape around                   to survive?
prosperity. And they will continue to
                                                        universities is changing faster than
be trusted curators of learning and
                                                        the organisations themselves, making
knowledge whose teachers are
                                                        disruption more likely and decision-           HIGHER EDUCATION
known for their accessibility, credibility
                                                        making more difficult. The COVID-19
and engagement.                                                                                        IS DEAD. LONG LIVE
                                                        pandemic is a systemic shock that
Not all universities are slow to change                 brings our higher education sector to          THE KNOWLEDGE
and reluctant to innovate. Some are                     the fork in the road.
starting to innovate for a future that                                                                 SERVICES SECTOR!
accommodates both degrees and
micro-credentials, intellective and                                                                    THE FUTURE IS CLOSER
job-ready skills, synchronous and                                                                      THAN YOU THINK.
asynchronous learning.
                                                                                                       CHANGE MUST START

                                                                                                       NOW – OR NEVER.

“
If the quality of life we now enjoy is the product
of the learning of prior generations, then what
does this moment in history demand of our
peak education and research institutions?
Catherine Friday
EY Global Education Leader

18 | The peak of higher education — a new world for the university of the future                                                               The peak of higher education — a new world for the university of the future | 19
EY can help                                                                        Contacts                         SELF-DIAGNOSTIC:

The future is uncertain, but the path                                                                               HOW WELL ARE YOU DEPLOYING
there doesn’t need to be. Take two                                                                                  TECHNOLOGY @ SPEED?
simple steps:
• Self-diagnose your digital readiness
  Some universities are accelerating                                                                                New technologies are emerging that present opportunities for knowledge services
  digital innovation. Others are still in                                                                           players to reinvent business models and drive significant efficiency in operating
  the planning stages. Take our self-                                                                               models. Organisations can seize significant advantage over competitors by being
                                                                                   Catherine Friday
  diagnostic (adjancent page) to assess                                                                             more prepared and adept at leveraging these technologies.
                                                                                   Managing Partner, EY Oceania
  the readiness of your university                                                 Government and Health Sciences   Use this list to diagnose the readiness of your university to deploy technology at
  to deploy technology at speed as                                                 and Global Education Leader      speed as you reinvent for the knowledge services future.
  you reinvent yours university for a                                              catherine.friday@au.ey.com       Rank your institution on how well you are: (use a 5-point scale: 5-excellent, 4-good,
  knowledge services future.
                                                                                                                    3-average, 2-poor, 1-no action)
• Conduct your own thought
  experiment
                                                                                                                    1. Converting your traditional              6. Exploiting artificial intelligence
  Contact EY to facilitate a virtual
                                                                                                                       learning management system                  and machine learning to assist
  ‘future back’ strategic workshop with
                                                                                                                       into a next generation digital              teaching, supporting activities
  your leadership team, using exercises
                                                                                                                       learning ecosystem that provides            ranging from grading to tutoring to
  grounded in scenario planning to
                                                                                                                       adaptive or personalised learning           performance monitoring?
  envision an unconstrained future.                                                Alison Cairns                       opportunities for individual
                                                                                   EY Oceania Education Leader                                                  7. Leveraging digital credentialing
                                                                                                                       students?
                                                                                   alison.cairns@au.ey.com                                                         technology to authenticate skills
                                                                                                                    2. Implementing a career platform              and knowledge to help students
                                                                                                                       that connects students to industry          publish their achievements for their
Acknowledgements                                                                   Author                              and provides career advice,                 professional lives?
                                                                                                                       planning and placements?
                                                                                                                                                                8. Using cyber security to protect all
Thank you to the academic                                                                                           3. Enabling informed executive                 sensitive and personal information
 industry and thought leaders who                                                                                      decision-making via a unified               in the university ecosystem as your
generously shared with us their                                                                                        data platform that provides a               institution becomes more digital?
thoughts, experiences and insights                                                                                     360-degree view of students, staff,
during the interviews and workshops                                                                                    faculty and operations?
for this study. For any questions on                                                                                                                                If the answers to any of these
                                                                                                                    4. Using learning analytics to predict
the paper, please reach out to our                                                 Richard Cawood                                                                   questions cause concern, it
                                                                                                                       student performance challenges
teams — we’d welcome your feedback                                                 Director, Strategy and                                                           could be time to accelerate
                                                                                                                       and provide targeted improvements
and comments.                                                                      Transformation, EY Australia                                                     technology and digital
                                                                                                                       to courses?
                                                                                   richard.cawood@au.ey.com                                                         innovation to meet the rapidly
                                                                                                                    5. Creating smart processes and                 changing expectations of
                                                                                                                       workflows using intelligent                  your learners, partners and
                                                                                                                       automation to digitally schedule             ecosystems.
                                                                                                                       classes and interact with students,
                                                                                                                                                                    Talk to us about your options.
                                                                                                                       staff and faculty in a timely and
                                                                                                                       personalised way?

20 | The peak of higher education — a new world for the university of the future                                                                                The peak of higher education — a new world for the university of the future | 21
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