CTRG attends panel discussion on the 4th Industrial Revolution

On 19 July 2018, the CTRG attended a Leader’s Angle panel discussion hosted by the University of Stellenbosch Business School. The panel discussion was facilitated by Martin Butler and featured Dr Albert Strever, Alison Jacobson, and Prof Thomas Thurner as speakers. The panel discussion was on the impact that the Fourth Industrial Revolution (4IR) will have on South Africa. The initial discussion was on the readiness of South Africa for 4IR. It was discussed that the capabilities of technologies will expand to not only replace routine jobs but those that also require creativity. There will be a need for labour to acquire skills that will complement automation. As the capabilities of automation continuously expand, labour will be required to adopt a mindset of continuous learning. The subsequent discussion was on the use of 4IR technologies in agriculture. Panelists pointed out that labour regulation obstructs the adoption of automation technologies. The final discussion was on the consequences and strategies from the adoption of 4IR in business. The main strategy amongst businesses with this revolution is that companies expand or innovate upon existing solutions in niche markets. This allows companies to collaborate and provide new solutions quicker. South African companies can, therefore, compete globally in niche markets for demand big companies are not fulfilling.

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