Let’s benefit from digital economy

THE FOURTH Industrial Revolution is meant to create jobs and replace more traditional employment with careers that reflect the technological advancements taking place. For South Africa to benefit from this, there must be a co-ordinated response from the private and public sectors.

While developments at Eskom appeared to be the focal point at both the State of the Nation and the Budget speech, it is perhaps in the small business incubation programme where the solutions to the country’s power and employment solutions lie.

The World Economic Forum in its Readiness for the Future of Production Report 2018 describes the revolution as a “fundamental change in the way we live, work and relate to one another. It is a new chapter in human development, enabled by extraordinary technology advances commensurate with those of the first, second and third industrial revolutions.”

President Cyril Ramaphosa recognises this, telling the country that: “Our greatest challenge is to create jobs for the unemployed of today, while preparing workers for the jobs of tomorrow.”

Today, the first data from South Africa’s ZACube-2 nanosatellite is set to be revealed. The nanosatellite could change lives and will provide the platform for students to understand the future world of work.

We wait with bated breath for this data and what it might reveal. The challenge is an obvious one – benefit from the new digital economy, or run the risk of falling further behind in the global inequality stakes.