Is the future of learning is - eLearning? URL: http://www.cpifinancial.net/flipbooks/FME/2015/DCC/41/#28 With the evolving education and training technological environments, Learning & Development professionals may see an advantage in shifting their thinking and consider changing their departments’ focus from a cost centre to a profit centre. By measuring in terms of a profit centre the industry would be able to better determine the ROI of their e-learning, which, according to Accenture research, is often in the 500% range.

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Is the future
of learning
E-LEARNING?
W
ith the evolving
education and
training technological
environments,Learning
& Development professionals may
see an advantage in shifting their
thinking and consider changing
their departments’ focus from
a cost centre to a profit centre.
By measuring in terms of a profit
centre the industry would be able
to better determine the ROI of their
e-learning, which, according to
Accenture research, is often in the
500% range.
So we know e-learning is an
effective and important learning
method, but just how much will
the industry grow? Global Industry
Analysts Inc. estimates that the
market value for e-learning will reach
a whopping $107bn in 2015. The
Middle Eastern e-learning market is
also growing rapidly due to market
makers,suchasGovernments,Private
Schools and Corporations. According
to latest research and studies, the
expected revenues from e-learning
in the Middle East region are around
$560m by 2016. We spoke to some
industry experts about their views
on integrating e-learning in Learning
and Talent Management within
their businesses.
MR. YOSIF SAPTIS
ARAB BANK
Senior Vice President -
Human Resources
“The ‘e’ in e-learning will no longer
refer to ‘electronic’ only, but also
to ‘entertaining’. The educational
technology pioneer Bernard Luskin
argues that the “e” of e-learning
should be interpreted to mean
‘exciting, enthusiastic, extended,
and educational’.
The Psychology of Media is
proving to us that the growing
use of technology in education is
positively impacting how trainees
engagingly interact in a learning-
media rich world and is increasingly
removing the constraints of
traditional classroom learning.
The impact of transforming
learning into an entertaining digital
experience on managing talents is
tremendous, especially those from
the Millennial Generation, who are
highly confident and mobile and
may switch jobs quickly and easily
if their great expectations from the
workplace are not met. One of such
great expectations is a learning
environment that is dynamic,
rich and multidimensional;
and can artistically animate
learning content in a manner that
innovatively mimic real life learning
opportunities”.
MR. SAQAR AL KHALILI
MUSCAT SECURITIES
MARKET
Deputy Director
General - Operations &
Market Surveillance
“When I first joined college in
1992, I was surprised to know
that the college had a TV channel
used to put lectures on different
subjects aimed mainly to students
who chose to be educated
remotely. I always believed that
being in a classroom with other
students is better than watching
a lecture on TV, but today, with
available technology e-learning
has become a favorite option
to many.
E-learning makes it possible to
get educated from home, office
or a café. There is less limitation
on number in an e-class and no
more geographical barriers or
visa requirements. E-learning is
to many of us the way forward
in acquiring knowledge but
we have to be careful at the
same time and truly assess and
evaluate the quality of e-learning
compared to the traditional
classroom education”.
CONCLUSION
Working closely with our clients
regionally and globally, we see
the popularity and prominence
of e-learning growing over the
next few years. Generation Y
Millennials (people born between
1980-2000) grew up consuming
entertainment and information
through TV and computers, and
that’s how they expect to continue
to learn, via digital channels (which
is increasingly including mobile).
Going forward, we could even
see a trend for people ‘wearing
their learning’ through wearable
technology, especially, the
SMARTWATCH, which continues to
grow in popularity.
We also have to recognise the
significance of video in today’s
global communication culture.
Every day people watch hundreds
of millions of hours on YouTube.
Half of YouTube views are on
mobile devices. Facebook early
this year reported that there are
3 billion videos viewed on its site
each day, an average of more
than 3 videos per day per user.
The number of video posts per
person on Facebook increased 75%
globally. So, people are learning
a lot online! And we can’t forget
MOOCs – massive, open, online
courses – which will continue to
grow as well as Gamification, which
may be the new tool for making a
radical shift in the learners’ way of
thinking and looking at things.
Digital advancements and the
modern digital approach to learning
seems to indicate that e-learning is
likely to be even more significant in
the future of learning. E-learning
content, assessment and feedback
will be built based on competencies
and according to employees’
proficiency levels. Furthermore,
it will be more personalized with
higher ROI. With this in mind, it
is highly likely that e-learning
will be transformed into a way
of learning rather than simply a
compulsory KPI.Is the future
of learning
E-LEARNING?
Fitch Learning delivers
learning and development
solutions for financial
services. Globally focused
and committed to
broadening knowledge,
skills and perspective.
Fitch Learning is a part of
Fitch Group, a global leader
in financial information
services with operations
in more than 30 countries.
Fitch Group also includes:
Fitch Ratings, a world
renowned credit rating
agency and Fitch Solutions,
anindustry-leadingprovider
of credit risk products and
services; and Business
Monitor International, an
independent provider
of country risk, financial
markets and industry
analysis.
SuhailT. Shamieh
Fitch Learning Consultant
– Middle East and Africa
SuhailT. Shamieh
Fitch Learning Consultant
– Middle East and Africa