education Technology
Private tutoring offered an even harsher lesson. Beijing’s “double reduction” campaign effectively dismantled much of a roughly $100 billion for-profit industry in an effort to reduce pressure on children and education costs for families. Academic tutoring companies were forced to become nonprofits and barred from raising money on stock markets. Billions of dollars in market value disappeared from companies including New Oriental Education & Technology Group and TAL Education Group. Artificial intelligence is developing under a different regulatory timetable. China’s rules governing recommendation algorithms took effect in March 2022, targeting problems including addiction, algorithmic discrimination and platforms using consumer data…
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