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Browsing: Fourth Industrial Revolution
The challenge facing the EAC is not the lack of natural resources but the lack of high-tech industries. China is a perfect example of a country that transformed from an agricultural civilisation to an industrial one. More than 850 million individuals have been lifted out of poverty due to recent economic growth brought about by China’s industrialisation.
Without involvement in the fourth industrial revolution, the East African Community would never be able to escape its state of backwardness. Therefore, the DRC will catalyse industrial transformation inside the East African Community, Africa and the world.…
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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.…
Modern technologies increase skill premiums and thus can worsen income inequality by replacing low-skilled manual jobs…
The potential of the fourth industrial revolution in Africa report shows an African tech sector taking flight the report was funded by the African Development Bank.
The Technopolis Group carried out research and study of the report. The report was presented during a seminar hosted by the African Development Bank last week.
According to the report, in 2019, approximately 6,500 technology start-ups were identified in Africa, among which about 10% develop applications that characterize the fourth industrial revolution.
Francie Sadeski, partner and lead in emerging markets at Technopolis, said the foundation has been laid for the fourth industrial revolution.
“The figures exceed forecasts and indicate that the basis for Africa’s growth into the fourth industrial revolution is already there,” she said during a presentation on the report.
By 2019, the report notes that venture capital of more than $100 million was invested in African Internet of Things start-ups making it …
Some of the challenges being addressed include the use of intelligent controls to ensure reduced energy consumption or electric cars to reduce greenhouse gases and air pollutants.…