OpenLearning strikes $1m deal with APIC to revolutionise AI education

Sydney-headquartered education specialist OpenLearning (ASX: OLL) has inked an agreement worth in excess of $1 million to help deliver artificial intelligence (AI) courses to Asia Pacific International College (APIC).

APIC, a wholly owned subsidiary of the Education Centre of Australia, offers undergraduate and postgraduate degree courses to over 4,000 students per year through campuses in Sydney, Melbourne and Brisbane, as well as online.

The college intends to deliver three higher education units in AI courses utilising the OpenLearning platform.

OpenLearning will also provide content to the students as part of the college’s Master of Information Technology program.

Cutting-edge education

OpenLearning Group chief executive officer and managing director Adam Brimo said the usage-based platform and content license agreement has a minimum value of $1.07 million over three years.

“This agreement marks a significant milestone for OpenLearning as we partner with APIC to enhance their Master of Information Technology program,” he said.

“Our platform’s AI assistant and AI course builder, combined with our team’s academic and educational expertise, will enable APIC to provide the most up-to-date educational learning experience in AI in the higher education sector.”

“We are excited to support APIC in cultivating the next generation of AI professionals.”

Big earners

APIC has estimated the new courses in its Master of IT will generate an additional $10m in revenue for the institute over the next two years.

The fees payable by APIC under the agreement are determined by the number of students who undertake the units, with the fees payable in 2024 being $0.35m and a further $0.36m in each of the subsequent two years.

Mr Brimo said the units developed by OpenLearning’s own specialists leverage the company’s recent advancements in its AI Assistant.

“This blend of technology and educational expertise enables the company and its partners to quickly adapt and offer courses that meet the rapidly evolving demands of industry.”

He revealed that the company is in discussions with other universities and higher education institutions to leverage its AI Assistant and Course Builder products to develop courses in the technology and health sectors.