Tencent Develops Online Education App in China

In China, there is a great culture where perfect practice is always accompanied by great effort behind it. Thus, homework in schools is like a battlefield not only for Chinese children but also for their parents and teachers, where parents have the duty and right to review assignments for Chinese children.

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Technology is helping more and more, and now, a startup online education The Beijing-based company has developed an artificial intelligence-powered math app that can check children’s arithmetic problems through simple snaps. Based on images and internal database, the application automatically checks whether the answer is right or wrong.

Known as Xiaoyuan Kousuan, a free application launched by an online education company supported Tencent Holdings [Yuanfudao], has been gaining increasing popularity in China since its launch a year ago. It claims to have checked an average of 70 million arithmetic problems per day, saving users around 40,000 hours of total time.

Yuanfudao also seeks to build the country’s largest education-related database generated from the everyday experiences of real students. Using this App, a six year old company, which has a long line of investors and big names, including Warburg Pincus, IDG Capital and Matrix Partners China, aims to rediscover the culture of children taught in China.

“By examining nearly 100 million problems every day, we have developed a deep understanding of the types of mistakes students make when faced with certain problems,” said Li Xin, co-founder of his unique Yuanfudao. (which means “ape tutor” in Chinese) in a recent interview. “The data collected through the app can serve as a pillar for us to deliver better online education courses.”

Yuanfudao is China’s second largest online education based on ratings, according to CB Insights. It is behind VipKid, which uses an online platform to connect Chinese students with North American-based teachers to learn English via live streaming.

Yuanfudao’s main app covers a wide range of subjects including math, English, and chemistry. Li said the company has built a database with student answers to 6 billion questions. He said this knowledge has made it possible Yuanfudao to better analyze the student, helping him towards the ultimate goal of providing tailor-made courses and homework.

Li said the company’s goal is to “dramatically improve the efficiency of education in China.”

“Giving different homework to different students even if they study in the same class is even more difficult than giving different news to different readers based on their individual interests and tastes,” Li said. “What we are doing requires a more accurate student profile.”

Li says the company’s flagship online tutoring app can generate a basic profile of students’ strengths and weaknesses based on their answers to three to five questions.

Founded in 2012, Yuanfudao, which has 200 million users (2 million of whom are paid users) pocketed US$300 million in a funding round at the end of December, valuing the company at over US$3 billion. China’s online education market is hot, attracting increasing interest from tech giants such as Tencent, Baidu, and NetEase in recent years.

“We don’t really need the money, but investors insist [menawarkan lebih banyak dana]. We still have US$100 million in our bank accounts before starting this round,” Li said. He said the company was immune to so-called winter technology, which has seen venture capital pools nearly dry up in China recently.

Despite the recent slowdown in China’s economy, China’s state online education market, which includes children from kindergarten to high school age, has tripled in price to 150 billion yuan (US$22.33 billion) in 2017. 2022, according to data from iResearch, is fueled by “ambitious tiger” parents who are ready to invest in their children’s after-school education.

Source: Techinasia

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