So, we bought an AI company
An AI Edtech company
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Friends,
I don't usually share my day to day comings and goings in my day job, but it is where I spend much of my time, and this is an overlap that I think would be useful to readers.
Four months ago I joined an edtech company called Avallain. It's not quite a startup but it has the mentality of one - but with a maturity about building for the future to support educators and learners. The uniqueness of Avallain is that it sells predominantly to educational publishers and so their technology forms the backbone of the educational industry. There’s lots of innovation including some generative AI tools that learners wouldn't see, enabling faster processes, smarter learning and some background magic.
This week we announced that we had bought a company called TeacherMatic (free to try!) Here’s the press release. The team at TeacherMatic have been developing “generators” - organised prompts to support educators create everything from lesson plans, to rubrics, to flashcards, to multiple choice questions and powerpoint decks - but with the teacher and lecturer in mind. Essentially teachermatic allows teachers to use AI to support them in education. It’s free to try and is applicable globally.
So, why would a company like ours want to buy a company like this?
Some say AI has peaked. Well maybe it has from a media hype. But myself and my colleagues very much believe in the development of AI and how it is and will remain part of the everyday, in education, across technology. And it’s getting faster.
But AI is ubiquitous - so this becomes a race.
SPEED: So winning with AI is about speed and being nimble and getting to market and usage and staying there. So firstly, it’s a fast track to becoming chosen. Teachermatic was doing that in the UK - and now we see them doing that in more segments and more places. We already know the usefulness of the tools of generative AI can and do reduce overworked educator’s workload and increase productivity. From research, it is now undisputed - and so we will push this out as quick as we can. Being the first choice for teachers in Europe and globally is a lofty ambition - but no-one succeeded who thought small. (Get in touch if you can help)
DATA: The second thing that I believe is going to become a differentiator in the game of AI is data and closed LLMs. We partner with some great brands who have high quality content that hasnt been spat into the major models. Having an amazing toolset, a closed LLM and the data around that learning is a powerful place to be. Tools are evolving at such a pace, that they will be ubiquitous, but we will create bespoke experiences for clients, excellent tools for partners and educators. Everyone has access to the tools, which is why we have seen a bunch of AI startups spin up in bedrooms around the world - but we’re seeing the fly by night startups start to fall away.
ETHICAL AI: Finally - and I think this is a key differentiator in this day of underhand and dishonourable dealings - the company we have bought aligned with our ethical framework. As we move forward with AI, humans will want to trust AI, and be comfortable in that space, especially in a niche like education. When like minded groups come together around a cause, underpinned by some real ideals, powerful things happen.
So - strengthening your superpower is an important consideration in the coming years. Personally, you’ll need to stay ahead through experimentation. Professionally, you’ll need to sharpen up your strategic chops - not by using AI in your day to day - but figuring out how AI will be central to the coming years.
That’s part of the bet we’re taking. We were investing in AI anyway. This is doubling down.
M&A experts and investors will talk about synergies, ROI, multiples and returns. This acquisition ticks these boxes, but also gives an extra muscle, supersubs and some special magic. We ae in a new era and companies need to reinvent to be ahead. Sometimes the value of reinvention is priceless, no matter how far you are ahead.
Stay Curious, Stay Ahead - and don’t forget to be amazing,
Here are my recommendations for this week:
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