mTouche Technology Berhad (mTouche) recently signed a Memorandum of Understanding (MoU) with A Conceptech Sdn Bhd (A Conceptech), a technology-focused higher learning facilitator company to provide an Online-to-Offline (O2O) International Education Hub with Artificial Intelligence (A.I.) and Blockchain Platform Technology for South-East Asia and Hong Kong market.
To keep up with the market’s increasing demands in mobile value-added services industry, mTouche is continuously building its competitive advantage targeting the growing smartphone users throughout the South-East Asia plus Hong Kong markets through its development and investment in digital mobile ecosystem platform, A.I. and digital media advertising services offering.
The collaboration provides mTouche the opportunity to gain additional capacity and expertise on new technological knowledge in the O2O higher learning sector. It taps into the resources of A Conceptech’s expertise which specializes in online technology solutions for higher learning and offers offline educational consulting to local students, assisting in relocating and navigating the college university application process, transitioning from one school to another, and addressing other educational issues to improve the quality of education.
This also allows A Conceptech to enter new geographical markets by leveraging on mTouche’s regional presence and technology capability on the development of the O2O International Education Hub, A.I. and Blockchain Platform, as well as financing for market expansion. The emerging markets in the region have demonstrated robust economic performance during the past 20 years, with the average gross income per household on a steady rise. Increases in income have greatly contributed to demand for high quality education, with more households than ever willing to spend a premium on education from the early years to higher education.
The parties will collaborate to develop, support, promote and enrich the O2O International Education Hub which comprises the following programs:
(a) A Digital platform with In-Apps that help to facilitate the parents and students to enroll for the most suitable course and future career planning, a premium private service on university enrollment guidance to provide educators information and interaction prior to enrollment, a certification and accreditation review on participating colleges and universities, a scholarship application and assistance services and an internship and career recommendation services.
(b) An A.I. for educators to automate systematic academic literature reviews to check plagiarism and misuses of statistics as machine learning can potentially flag unethical behavior in research projects prior to publication. A.I. can also be used for more routine academic tasks such as grading assignments and a virtual assistant to tutor and guide more personalized learning. Aside from improving the quality of education, A.I. can make courses available to many more people with developments such as Massive Open Online Courses (MOOCs).
(c) A Blockchain platform to maintain the privacy and security of data stored digitally by academically accredited institutions from being hacked with hosted data on an unprotected site or accidentally published confidential information online. Technically, Blockchain is a distributed database, spread across many computers with no central control that could transform governance, the economy, businesses and the functioning of organizations.
Mr Tang Boon Koon, Executive Director of mTouche is excited about the collaboration. He said: “This is truly a win-win scenario for both organizations as it provides synergistic and leveraged opportunities between these two companies. We both believe this collaboration would certainly enhance credibility for both organisations in promoting the O2O International Education Hub and its programs that potentially yield new revenue streams. According to a market study conducted by Parthenon-EY Education which was released in September 2016, it shows that the private education spending in South-East Asia has reached nearly US$60 billion.”
The two organisations will join hand-in-hand to market its final product, “O2O International Education Hub”, to South-East Asia plus Hong Kong markets as well as OECD (Economic Co-operation and Development) and Non-OECD countries. Through close collaboration between the two companies, mTouche will endeavour to enhance its sustainability and improve its profitability and become one of the leaders in digital mobile, digital media, A.I. and Blockchain platform services provider in the South-East Asia region.