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Browsing: 4IR
- Africa must invest in human development to catch up to the Fourth Industrial Revolution (4IR).
- There is a need for policy commitment to developing Africa’s human resources.
- Investing in education is the only way Africa will catch up to the 4IR.
With the majority of its workforce unskilled, Africa is again left behind. At the same time, the rest of the World moves forth in the fourth Industrial Revolution (4IR).“African countries must support skills training and put in place the right policies to tap the benefits of the fourth Industrial Revolution,” advises Raymond Gilpin.
The economist believes that by investing in its most significant resource, Africa can strategically catch up with the Fourth Industrial Revolution (4IR).It requires dedicated policymaking focused on raising a generation of skilled labour capable of participating in and innovating digital revolutions in all sectors. By investing in transforming its human skills, Africa can …
- Unemployment is a significant problem in Africa, with many countries experiencing high rates of joblessness.
- The unemployment rate in Africa was 7.1 per cent in 2020, which is significantly higher than the global average. Youth unemployment in Africa is even more severe, with the youth unemployment rate at 12.9 per cent.
- Harnessing 4IR presents opportunities to address unemployment in Africa
The Fourth Industrial Revolution (4IR) has the potential to propel Africa’s economy and address one of its major challenges – unemployment. 4IR technologies, such as artificial intelligence, blockchain, and the Internet of Things, are creating new job opportunities and improving productivity in many sectors. However, harnessing 4IR to address unemployment in Africa requires overcoming some challenges.
What is the 4th Industrial Revolution?
4IR stands for the “Fourth Industrial Revolution.” It refers to the current trend of automation and data exchange in manufacturing and other industries, driven by the development of …
Within the service industry, 4IR creates a potential for new goods and processes enabled by technology. As demand develops in lockstep with income, possibilities exist as African countries resume economic growth. Because technology complements rather than replaces labour in many service industries where formal companies and employment dominate, the adoption of technology should develop new formal wage positions for young and educated job seekers.
Adoption of 4IR technology may also result in improvements in job quality (e.g., earnings, income security) in the large non-farm informal sector (63 per cent of total employment)—for example, by the use of online stores and channels to find customers and satisfy their needs safely and efficiently.…
Even though the country knows that diamonds are a finite resource, it still holds the world’s richest mine and is the biggest producer of gem diamonds. The country has become something of a role model for good development, powered by diamond mining.
20 percent of Botswana’s gross domestic product comes from this one commodity.
It propelled the country from the second poorest country in the world in 1966, at US$70 per person per year, to a middle-income country in 2021. Botswana estimates the diamond economy will start dropping in 2030. …
Countries in sub-Saharan Africa are unprepared to equitably use, adopt and adapt to the ongoing technological revolution.…
Blockchain technology has for long been associated with cryptocurrencies but there is so much more that it has to offer. …
Modern technologies increase skill premiums and thus can worsen income inequality by replacing low-skilled manual jobs…
The emerging digital ecosystem is a crucial multiplier of this growth, evident during the coronavirus pandemic…
These developments will greatly enhance the implementation of the Africa Continental Free Trade Agreement (AfCFTA) …
If there is a gift that the world has given to Africa, it is the internet and with this, the unlimited ways in which to make life easier.
The internet and by extension the technology that comes with it, has helped in moving the continent towards creating solutions for day to day living instead of waiting for parachuted aid.
From getting farm produce to the marketplace to creating solutions that are ground-breaking in the health sector, the internet has enabled and propelled the hitherto jettisoned continent into spaces even the so-called developed countries wish to occupy.
Power outages in Nigeria major obstacle for tech sector growth
Looking at some of the amazing things that the tech space in Africa has created include the world-renowned M-Pesa which has transformed how people transact not only in Kenya but across the continent and globally in different ways and formats.
And as the world …